Topic: Controlling Project Risk

 

 

 

Reading Task: Practice Standard for Project Risk Management, Chapter 9

 

 

 

Deliverable Length: 2,200 words of new content

Due Date: 9/11/2012 11:59:59 PM CT

Assignment:

For this assignment, you will determine how you will monitor the risks that you have projected, as well as the unknown risks

that occur during the course of the project. You will also formulate a control plan once a risk has been identified during

the monitoring process.

As part of the monitoring and control process, you will need to identify who plays what role in this process, also known as

the risks responsibility plan. One method is to construct a RASI matrix that is similar to the following example:

Please note that the risk categories and names are very general in this example, and you will have more specific risk

categories that are based on Weeks 1 and 2€²s work.

Deliverables:

The overall project deliverables are the following:

1. Update the Key Assignment Document title page with a new date and project name.

2. Update previously completed sections based on instructor feedback.

3. Complete New Content below and copy it under the sections in the Key Assignment Document that are called Project Risks

Responsibility Plan and Project Risks Monitoring and Control Plan.

o New Content

? Project Risks Responsibility Plan

? Include a responsibility matrix listing the stakeholders and project team members, with risk actions (or category of

actions) along the top.

? Next, fill in the table using the following letters, and refer to the examples in the Assignments section as R if they

are responsible for monitoring and controlling the risk, A if they are the approver for taking action to respond to the

risk, S if they have a support role in responding to the risk, and I if they only need to be informed. This is also known

as a RASI chart.

? Project Risks Monitoring and Control Plan

? Include a detailed description of the overall monitoring process, including the techniques that will be used to monitor the

existence and impact of individual risks.

? Include a detailed description of the control process when a risk occurs.

? Include a diagram flowchart to depict the steps in the control process from risk discovery through risk response.

4. Be sure to update your table of contents before submission.

5. Name the document yourname_MPM344_IP4.doc.

6. Note that this document will also be submitted as you Key Assignment Draft in the next Discussion Board.

 

 

 

 

Phase Resources:

€¢ Amplifying Your Effectiveness: Communicating Up

Article with tips and techniques for effectively communicating to stakeholders and other managers.

€¢ CIO Update

From the CIO update, there are several relevant articles regarding risk management In the search box, type manage risk and

you will find a list of articles including Using EPM to Maximize Return and Manage Risk

€¢ Managing Risk

Successful Delivery Toolkit page at Office of Government Commerce site with table addressing management risk at the project

level in regards to what you need to do and roles and responsibilities in effort to minimize unwanted outcomes.

€¢ Risk Magazine

This website holds article and glossary resources from the Risk and Insurance Management Society, Inc. (RIMS).

 

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