Your team have been asked to conduct a risk assessment and develop a risk management

strategy for one of the following projects:

An internal project to enter a new market for an existing product (you have the

freedom to decide on the details provided you adhere to the basics of the prompt)

A controversial new infrastructure project (you have the freedom to decide on the

details provided you adhere to the basics of the prompt)

An internal project to introduce a new process innovation in how the company

produces an existing product (you have the freedom to decide on the details

provided you adhere to the basics of the prompt)

2.

You must use a project risk management process such as the PRAM procedure that we used

in class or another process that you identify in your reading. If you choose to use an

alternative process, be sure to clearly outline that process.

3.

Your risk assessment must include the following elements:

Identification of all potential risks.

Assessment of the likelihood and impact of each risk.

Development of risk mitigation strategies.

4.

Your risk management strategy must include the following elements:

A plan for monitoring and managing risks throughout the project.

A plan for communicating risks to stakeholders.