BUSN663: Project Management for the Business Professional

This week, you will create a risk management plan using the template provided.

Required:

1. You will develop the plan based on the project you started in Week 2 (building the gym).
   • Clearly identify which parts of the project are impacted by the risks.
   • Define how the risks will be communicated, including the frequency and method of communication.
   • Provide an executive summary of the risks and evaluation process used.
   • Identify key stakeholders and their roles and responsibilities in managing risk.
   • Identify the risks and their sources and categorize them.
   • Outline strategies for mitigating each identified risk.
   • Evaluate and grade each risk based on the risk matrix in the spreadsheet.
2. Identify at least five risks.
3. Be clear in documenting all risks as all stakeholders will need to understand clearly what the risks are and the path forward.
4. All sections of the plan must be completed; do not delete any of the sections.

Submission Instructions:

Grading Rubric: Review the grading rubric prior to submittal.

Formatting:

• Document structure: Use the template provided.

Submission:

• Submit your completed risk management plan spreadsheet for grading via the Excel template provided.
• Assignment Rubric Title: Week 6: Risk Management Plan

This Assignment aligns with the following:

• CO-4: Analyze risks and project uncertainty.
  
  • LO-4.1: Assess the various techniques for project risk identification, assessment, and mitigation strategies.
  • LO-4.2: Evaluate contingency planning and risk mitigation strategies in projects in preparation for unexpected challenges.
  • LO-4.3: Develop a risk management plan that identifies potential project risks, assesses their impact and likelihood, and develops mitigation strategies to minimize impact.