Risk Strategy: Describes the general approach to managing risk on your selected project.
Risk Strategy: Describes the general approach to managing risk on your selected project.
My project – Starting a mobile detailing business
The Individual Risk Management Plan for your project must apply risk management processes learned from both of your textbooks, describing how risk management activities will be structured and performed. The document may include the following points:
- Risk Strategy: Describes the general approach to managing risk on your selected project.
- Methodology: Define the specific approaches, tools and data sources that will be used to perform risk management on the project.
- Roles and Responsibilities: Defines the lead, support and risk management team members that may be required for each type of activity described in the RMP and clarifies their responsibilities.
- Funding: Identifies the funds needed to perform activities related to Project Risk Management. Establishes protocols for the application of contingency and management reserves.
- Timing: Defines when and how Project Risk Management processes will be performed throughout the project life cycle and establishes risk management activities for inclusion into the project schedule.
- Risk Categories: Provide a means for grouping individual project risks.
- Stakeholder Risk Appetite: An expression of measureable risk thresholds that provide the level of overall acceptable project risk exposure.
- Probability and Impact: Definitions of probability and impact levels for both negative and positive risks.
- Reporting Formats: Define how the outcomes of the Project Risk Management process will be documented, analyzed and communicated.
- Tracking: How risk activities will be recorded and how the Risk Management process will be audited.
Sample Outline of Typical Paper
- Title Page
- Table of Contents
- Introduction
- Project Management Plan Components
- Conclusion
- References in APA format
Grading Rubric for Individual Risk Management Plan
| Category | Description | Points |
| Cover Page, TOC | Cover page and table of contents | 10 |
| Documentation and Formatting | Supporting documentation and formatting of paper | 10 |
| Introduction and Conclusion | Clarity of introduction and conclusions | 60 |
| Organization and Cohesiveness | Organization of paper | 10 |
| Risk Management Plan | Does the plan include the risk management processes as outlined in the text and the PMBOK® Guide? | 200 |
| References | Does the paper have a minimum of 5 references? Are the references in APA format? Does the paper have a suitable appendix? | 10 |
| Total | A quality paper will meet or exceed all of the above requirements. | 300 |
Requirements: 5 pages | .doc file
Subject: Business
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