Please copy and paste this link below on google to fill in the blank. Thank you.

https://docs.google.com/document/d/1OB1mF3uYelmSmHjC4z4rMAPs562AWlomTdOIkUoHeo8/template/preview

As a project manager for Office Green, a student is responsible for consulting with team members to identify potential risks for the Plant Pals operations launch. The student determines that there are two main risks types he needs to plan for:

Going over the project budget

Falling behind the training schedule

The student's team identifies three possible risk scenarios for each category:

Budget Risks

The student's team's Fulfillment Director has identified three possible budgetary risks to mitigate:

Each delivery truck costs $16,000 more than initially quoted. The student's team estimates a 50% chance this risk will occur. If it does, Office Green would pay $32,000 more than expected for their two delivery trucks.

A product vendor charges a higher rate than expected. The student's team determines a 20%-25% chance this risk will occur. The budget impact would be approximately $17,000.

A product vendor loses a product shipment. The student's team estimates only a 5% chance this risk will occur. A lost shipment would cost over $25,000.

Schedule Risks

The student's training team is concerned that they could fall behind schedule when training Office Green's employees, and highlighted three possible scheduling risks:

The student's Training Manager gets sick and misses a week of training. Your team estimates a 5%-10% chance this risk will occur.

The student cannot hire enough employees in time to train them before launch. The student's team estimates a 20%-30% chance this risk will occur, and it could delay the project by over a month.

More than 50% of employees quit after a difficult training process, leaving the company short-staffed. The student's team estimates only a 5% chance this risk will occur.

Step-By-Step Assignment Instructions

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Step 1: Access the template

Step 2: Fill in the document details

At the top of the document, student needs to write "project manager" next to Author. Then the student needs to record the status of the plan next to Status (mark it as a draft for now).

Step 3: State the objective

Now the student needs to consider the purpose of a risk management plan and what it is designed to do. The student needs to write a sentence or two summarizing this purpose under Objective.

Step 4: Write an executive summary

The student needs to write a 3-4 sentence introduction outlining the project goals and milestones, and include potential risks in the tables provided under Executive Summary in the template.

Step 5: List budget risks

Now the student needs to go to the budgetary risk chart and add the three potential budgetary risks under Scenario.

Step 6. Assess the impact of each budget risk

Next, the student needs to determine the inherent risk level of each budgetary risk. Remember that inherent risk is the measure of a risk calculated by its probability and impact. To do this, the students needs to go to the Appendix section of the template:

First, the students needs to consult the Probability chart to determine whether the risk has a low, medium, or high chance of occurring.

Next, the students needs to use the Impact chart to identify whether each risk poses a low, medium, or high impact to finances, operations, or people.

Finally, the students needs to use the Probability and Impact Matrix to calculate the inherent risk as low, medium, or high.

The students needs to enter the inherent risk rating under Risk to project in the budgetary risk chart. The student can color-code the rating for clarity (green for low, yellow for medium, and red for high).

For example, in the first budgetary risk scenario the two delivery trucks cost more than initially estimated:

The student's team estimates a 50% chance this risk will occur. According to the Probability chart, 50% is a high probability.

The student's team estimates a $32,000 overage. According to the Impact chart, $32,000 is a high financial impact.

Because the probability and impact are both high, according to the Probability and Impact Matrix, the inherent risk is high.

Step 7: Develop mitigation plans for budget risk scenarios

Now the student has calculated inherent risk ratings, consider how to mitigate each risk. Remember, student can choose to deal with each risk in one of the following ways:

Avoid

Accept

Reduce or control

Transfer

Once student has decided how to handle each risk, write "avoid," "accept," "reduce or control," or "transfer" in the Mitigation Plan column. Then explain how you plan to deal with the risk. Be sure to consider all the options when developing student's mitigation plans.

For example, the students needs to imagine there is a risk that a vendor might not have the right plants in stock consistently. If the inherent risk level is low, the student could choose to monitor the situation and research alternative sources for particular plants. If the inherent risk level is high, the student could choose to avoid it altogether by switching vendors.

Note: Student's mitigation plans will likely differ from those of their fellow learners. That's okaythere are a lot of factors to account for and no one right way to deal with them.

Step 8: Develop mitigation plans for schedule risk scenarios

Repeat Steps 5-7 for the three schedule risks.