Application of Risk Management to a Project
For this project, you may choose a project that is of interest to you, or you may choose to begin planning for your senior project. When selecting a project, avoid picking one that is either too big or too small. For example, do not decide to build a new stadium for your local sports team (too big) or to plant your summer garden (too small).
If you have any questions at all about the suitability of your project selection please follow-up with your professor for his or her guidance. If you are confident in your project selection and feel that you will not have any problems creating the deliverables mentioned below you are not required to submit your project idea to your professor or obtain approval to proceed.
- Create a risk management plan for your project. To do this, you must create a scope statement and a WBS for your project.
- Perform risk management planning as defined in the lecture.
- Identify risks for your project, including any issues that may impede or impair the completion of the project. You must identify at least 15 positive and 15 negative risks.
- Prioritize the risks by performing qualitative risk analysis.
- Perform risk response planning for your project by creating detailed risk response plans for those risks needing responses. This should include both proactive responses and reactive contingency plans as appropriate.
Sample Outline of Typical Course Project Paper Part I
- Title Page
- Table of Contents
- Risk Management Planning
- Risk Identification
- Qualitative Risk Analysis
- Risk Response Planning