AutoSave OFF A H C G ... w MGT5085 (F23) CFA Risk Plan (1) - Saved to my Mac Q Home Insert Draw Design Layout References Mailings Review View Tell me Share Editing Comments Calibri 12 A A Aa Ap AaBbCcDdEe AaBbCcDdEe AaBbCcDdE Paste B I Uvab X X A DAY Normal No Spacing Heading 3 Styles Dictate Sensitivity Editor Pane ALGONQUIN ALGONQUIN COLLEGE COLLEGE . Introduce your project (1 paragraph) from a risk perspective (what are the stakeholder's' risk-related concerns on this project?) MGT5085 RISK MANAGEMENT PLAN . Project Risk Strategic Outcome: Keeping in mind that if things do not go as planned, The project Risk Management Plan (RMP) is a critical component of the overall Project Plan. In something has to be impacted - as such, indicate which project characteristic (budget, this assignment you will be developing a Risk Plan. schedule or quality) the risk plan will seek to protect. Provide a brief justification as to why this project characteristic should be protected over the others. You are to incorporate as much of the course, textbook and lesson note material into your assignment as possible. . Methodology: This document is to be written as a formal, business-quality risk plan. Lead-in o How would risks (uncertainty) be identified on this type of project? paragraphs, full sentence structures, and proper grammar and spelling are all essential. Identify what risk analysis tools or methods you think would be . Assignment Overall Length: 4 to 8 pages. appropriate for this project. o What data or information sources would you examine to identify or detect risks? Assignment Instructions: . Roles and Responsibilities o Develop a Risk Responsibility Assignment Matrix (RAM) that allocates risk To help give this assignment context, you can assume that the project we are working on is responsibilities among the project team. Your RAM should denote which team a Dream House Project with a Work Breakdown Structure (WBS) that is similar to what is member: shown below: Is the Lead (L) for risks related to each individual WBS activity; Is providing Managerial Support (MS) for the WBS activity; and Dream House Project . Is providing Support (S) for each WBS activity. For this section you can use the following table format. Foundation & Outside nspections Project Management Landscape (ID 100) ID 200) (ID 300 (ID 400 (ID 500 Activities [Team Title] [Title Title] [Team Title] [Team Title] [Team Title] Excavate Foundation Frame House Frame General PM (ID 101) (ID 201) (ID 301) (ID 401 (D 501) Construct Foundation Finish Roof Plumbing Electrical . Kick off meeting (ID 102) (ID 202) (ID 302) (ID 402 Team building L. Status reporting . Definition of Risk Probability and Impact: Rough Landscaping nstall Siding Mechanical Plumbing RISK Management (ID 103) (ID 203) (ID 303) (ID 403) (ID 502) Quantifiable define specific probability and impact levels for this project (see 'Risk Finish Landscaping Install Soffit and Mechanical Quality Management Probability and impact matrix' in the Glossary of Terms entry) (ID 104) Fascia (ID 204) Drywall (ID 304) (ID 404) (ID 503) Finish Carpentry . Risk Registry: Develop a risk registry (a.k.a. risk log) for three (3) risks identified in your & Fixtures Final (ID 305) (ID 405) project. Risk Title & Consequence Deliverable: A Risk Management Plan in a Microsoft Word document. WBS Risk # (Identify the risk and describe what impact it Likelihood | Impact Strategy Response might have on the project characteristics) Risk Management Plan Template: This section of the risk management plan will involve identifying all of the potential risks associated with a project, using the WBS as well as the 2 various risk categories identified in the readings. In this section, do not try to evaluate the risks; simply identify them. WBS Item: Identify the project task(s) that the risk would be associated with (you can make up the project task). Keep in mind that one risk might apply to multiple WBS item numbers Page 1 of 6 1218 words x English (Canada) Ex Accessibility: Investigate Focus + 90%AutoSave 3 MGT5085 (F23) CFA Saved to my Mac Home Insert Draw Design Layout References Mailings Review View Q Tell me ,9 Share / Editing 1; Comments . . A 0 :Q' v Calibri v 12 zl 1T AaBchDdEe AaBchDdEe AaBchDdEi / v f > J Paste B I U v ab X Normal No Spacing Heading 3 Styles Dictate Sensitivity Editor 6 _ 2 Pane 0 Risk 4': Each risk should have a unique number in your numbering system. 0 Risk Title and Consequence: Identify the risk and indicate what project I , , , characteristics it might impact, and to what extent. Eva "anon Guam 0 Risk Likelihood: Identify the likelihood of the risk occurring. iSee Glossary of Terms The following evaluation criteria will be used for this assignment: entry) De ri tlo Mair/mum student's 0 Risk Impact: Using industry best practices, describe the potential impact ofthe 5' '" " Marks Mark: risk on the project's three primary constraints (that is, describe potential Introductory Paragraph 1 schedule, budget and quality impact). lg Glossary of Terms entry) Pro/ecrkisk Tolerance 2 Methodology 3 0 Risk Strategy: Identify your overall strategy or strategies for dealing with the \"0"? 2"\" R"""\"'b_\"{"\"\" 1 particular risk and briefly justify the strategy isee Glossary of Terms for Risk strategy 556: R 'afffpmmml'w and "mm\" 2 entry). Strategies include the following: ,3, 5:55,? 2 L In 5 Ill P I II 1 I For threats: Mitigate, Transfer, Accept, Avoid aya / M W] mi\": a" W Total 20 0 Risk Response: Using industry best practices (such as fast tracking, schedule crashing, buffers, insurance policies, contracting mechanisms, contingency funds, management reserve funds, etc), describe how you would deal with this risk. 0 Risk Management Budget: Develop an estimate for the overall cost of your project risk management plan which will be included in your overall project budget. Vour risk management budget needs to include the following costs estimates: 0 Costs of assigned resources (include both human and equipment costs) 0 Costs of xed risk management expenses (for example, insurance policies) 0 Costs of contingency reserve fund to cover costs of known risks 0 Managerial reserve fund to cover the cost of unknown risks _ + 90% Page 1 of 6 1218 words E English (Canada) 7:? Accessibility: Investigate