homework!
topic needs to be on Venues. such as wedding/party events.
6
PROJ420 Project Risk Management
Project Name
Your Names
Table of Contents
Project Outline (Week 1)
3
Project Description
3
Risk Management Planning (Week 1)
4
Risk Management Plan Steps
4
Flow Diagram of steps
4
Project Risk Identification (Week 2)
5
Risk Categories
5
Risks
5
Qualitative Risk Analysis (Week 3)
6
Quantitative Risk Analysis (Week 4)
7
Risk Response Planning (Week 5)
8
Risk Response Implementation (Week 6)
9
Risk Monitoring (Week 7)
10
References
11
Project Outline (Week 1)
Project Description
The project description should be an overview of the project.
Risk Management Planning (Week 1)
Risk Management Plan Steps
The steps to develop the risk management plan should be listed here. You can use the risk management processes in listed in the PMBOK® Guide.
Flow Diagram of steps
Use a flow diagram like the one below to list the steps in the Risk Management plan.
Project Risk Identification (Week 2)
Risk Categories
Begin brainstorming at a high level and list at least four categories in your project where risks could occur.
Risks
Use the risk categories to determine at least 10 risks for your project.
Qualitative Risk Analysis (Week 3)
Use a probability and impact matrix to determine the probabilities of occurrence and potential impact rankings of your risks. Ranks the risks in order from largest severity to lowest severity levels and indicate if each risk is positive (opportunity) or negative (threat).
Negative Impact
Positive Impact
P R O B A B I L I T Y
VHI
VHI
HI
HI
MED
T
O
MED
LO
LO
VLO
VLO
VLO
LO
MED
HI
VHI
VHI
HI
MED
LO
Legend
Green Risks
Amber Risks
Red Risks
T
Threats
O
Opportunities
Quantitative Risk Analysis (Week 4)
Describe a data analysis quantitative risk analysis technique such as simulation, sensitivity analysis, decision tree analysis, or influence diagram. Discuss how you would use this technique to determine numerical values for your risks. You do not have to perform the quantitative risk analysis but should discuss the steps in detail.
Risk Response Planning (Week 5)
Describe the strategies you will use to respond to each risk.
Risk Response Implementation (Week 6)
Describe the tools and techniques such as expert judgment, interpersonal and team skills, and project management information systems (PMIS) you will use to implement risk responses. Discuss how you will implement these responses.
Risk Monitoring (Week 7)
Provide a discussion of how you will monitor risks, including the process to identify new risks and the process to determine if the risk responses were effective for risks that have occurred.
References
Edwards, P., Vaz Serra, P., and Edwards, M. (2020). Managing project risks. [VitalSource version]. Retrieved from https://bc.vitalsource.com/books/9781119489733
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