Resource: Risk Management Plan Outline
Select a realistic business project risk scenario that you might use for your course-length final project.
Obtain faculty approval on your selected project risk scenario.
Research and identify a suitable project for risk management discussion and analysis. Several examples are available in weekly readings. The following guidelines apply:
- The project must contain detailed information related to overall project requirements and related risks
- The project must contain adequate substance to support discussing risk identification, risk documentation, and contingency planning
- The project must be ongoing and approved by your facilitator
- The project may be documented through research or a personal experience
Write a paper of no more than 1,400 words that describes the project’s background and general requirements, which must include prescheduled milestones, cost constraints, and quality requirements. The paper must relay the theoretical and practical application of the following:
- The framework for risk identification in the project; for example: WBS, brainstorming, and critical success factors
- Fault tree and event tree techniques and how they could be used to identify risks
- Project risks in the selected scenario
- Elements used in documenting project risks