Question
Budget and Risk Management: At the end of this week, you are to finalize the overall project cost and clearly document project risks gathered throughout
Budget and Risk Management:At the end of this week, you are to finalize the overall project cost and clearly document project risks gathered throughout the project. As part of the risk management plan, you are expected to share a risk response plan. Project cost and risk management plans will include the following components:
- Overall project budget (utilizing EVM - share current and forecasted project status) - Project requirements - Cost management plan - outlining contingency plan for project changes - Risk management matrix - Change management process - Project RAID (Risk, The assumption, Issues, and Dependencies
Project Title: Developing plans for dog-friendly beaches in a Virginia Beach row.
REQUIREMENTS: please complete the following sections (with the headings AS NOTED BELOW and IN THE ORDER BELOW):
1. A project budget with the EVM analysis. There should be a budget that notes the specific items that dollars will be spent. This should be in a table format. There was to be an EVM calculation and an analysis of what it means.
2. Project requirements - many students did not update these. The project requirements are items that are needed to be successful. Do you need people to implement the project? What about any equipment?
3. Cost management - this should note how the costs will be managed. Don't forget about the contingency plans. For the contingency don't just list the dollars but also note when contingency dollars are being given back and WHY.
4. The detailed risk management plan should note how risks are managed at a high level.
5. The risk response plan should be a table that notes the detailed risks and if you are going to accept, avoid, mitigate or transfer the risk and WHY.
6. The risk mitigation plan should be in a table that notes the detailed risk and how you will mitigate and what the contingency plan is. The mitigation plan happens BEFORE the project starts and the contingency plan is what happens when the project is in flight.
7. The change management process - this is a detailed review of the change process. It should note what the change process is, who manages the changes, who can submit the changes, who authorizes the changes, where the changes are located, etc...
8. RAID -This should note how each section (Risk, The assumption, Issues, and Dependencies) will be managed
9. The stakeholder management plan lists the stakeholders, BY NAME, their roles, and any notes about the stakeholders that are important for the project.
10. The communication plan lists the communication, the mode, the frequency, etc...
I request the expert to PLEASE answer my question IN DETAIL accurately, THE BUDGET AND RISK MANAGEMENT TOPICS MENTIONED IN THE QUESTION according to my project title and charter, and not post the same answers.
THANK YOU
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