Managing Project Risk and Opportunities GP

You are preparing the project risk-management plan for review with the sponsor and your manager. You have identified the risks, assessed the probabilities and impacts, and created your responses. You now need to present the comprehensive plan and gain the buy-in from the sponsor on the risk-management plan. 

Individual Guidelines:

  • Create risk responses (reduce probability, reduce impact, and respond) for each of the 15 risks you identified and assessed in the prior unit. 
    • Use either Word or Excel to record this information. 

Please add your file. 

This assignment will be assessed using the additional criteria provided here.

Group Project Guidelines:

  • Go to the Small Group Discussion Board and evaluate each other’s responses and compile the results. 
  • Create a comprehensive risk-management plan. The risk-management plan should include: 
    • A description of the overall approach 
    • A risk matrix using a qualitative ranking approach 
    • Action plans for the high priority/high probability risks 
  • Be sure to address the following questions 
    • Are all possible risks identified? 
    • Are there redundant or overlapping risks? 
    • Is the level of detail consistent? 
    • Are the causes of the risks clearly defined? 
    • Are the assessments consistent? Is a clear ranking strategy used? 
    • Are the response strategies appropriate? 
    • Are secondary risks considered? 

Your submitted Group Project (200 points) must include the following:

  • A 1–3 page typed document per group member covering the aspects listed in the individual guidelines. 
  • A 3–6 page typed document covering the questions and aspects listed in the group project guidelines. 

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