The risk management plan outlines the process for identifying, analyzing, and managing risks throughout the project lifecycle. Key steps include identifying risks through methods like brainstorming, prioritizing risks based on probability and impact, developing response plans to mitigate or accept high-priority risks, monitoring risks regularly, and documenting lessons learned. The plan designates roles and responsibilities and provides templates for tracking risks and getting approvals.
EXTENSION OF TIME CLAIMS IN OIL AND GAS CONSTRUCTION PROJECTSHossamNegidaPMPRMPPS
This document is dedicated to projects especially in Oil and Gas field wherein, in light of rapid and continuous development of the construction process and under intense competition in order to acquire reasonable profits, they are facing naturally lot of delays and disruptions which lead to exert huge efforts for proving these delays.
Presenting this set of slides with name - Project Schedule PowerPoint Presentation Slides. The stages in this process are Project Schedule,Project Training,Project Plan.
EXTENSION OF TIME CLAIMS IN OIL AND GAS CONSTRUCTION PROJECTSHossamNegidaPMPRMPPS
This document is dedicated to projects especially in Oil and Gas field wherein, in light of rapid and continuous development of the construction process and under intense competition in order to acquire reasonable profits, they are facing naturally lot of delays and disruptions which lead to exert huge efforts for proving these delays.
Presenting this set of slides with name - Project Schedule PowerPoint Presentation Slides. The stages in this process are Project Schedule,Project Training,Project Plan.
Cost baselines and Cost budget are two terms from Project Cost Management, that could pose a challenge of understanding to many Project Managers.
https://www.mudassiriqbal.net/costbaseline-vs-budget/
For Other PM Concepts, you may visit https://www.mudassiriqbal.net/project-management-terms-and-concepts
Successful projects require accurate cost estimates, discuss major estimating techniques with this content ready Project Cost Estimation Methods Powerpoint Presentation Slides. Incorporate easy to use project estimation methods PPT slides to monitor project spending. The project estimation techniques PowerPoint complete deck includes various professional slides such as project description, process, management team, budget, timeline, work break down structure, activities sequence, Gantt chart, cost estimate, progress summary, dashboard, budgeting planned vs. actual, conclusion report, etc. Utilize project management budget PowerPoint templates to forecast the cost of completing a project with a defined scope. Assess the financial feasibility of a project using visually appealing cost estimating tools PPT visuals. Furthermore, with the help of planning cost management PPT slides, you can forecast the resources and associated costs. The methods of project estimation presentation deck have eye-appealing designs with relevant content. Simply download this professionally designed project estimation techniques presentation deck to impress your audience. Draw in fresh customers with our Project Cost Estimation Methods Powerpoint Presentation Slides. Your earnings are bound to improve.
Management of risk affects the success and financial viability of a project. Internal risks, which are generally within the control of a construction organisation, are cost and schedule overrun. External risks include market conditions, government policy and natural disasters.
This article describes the management of internal risks through integrated schedule and cost analysis as these are areas that can be managed effectively by a construction organisation with minimal set up cost.
The types of project referred to in this article can either be design-and-build or build-only projects. Other forms of procurement such as Build-Operate-Transfer (BOT) will attract different risks which are not considered herein.
Delivering programs with less capability than promised, while exceeding the cost and planned durations, distorts decision making, contributes to increasing cost growth to other programs, undermines the Federal government’s credibility with taxpayers and contributes to the public’s negative support for these programs.
Many reasons have been hypothesized and documented for cost and schedule growth. The authors review some of these reasons, and propose that government and contractors use the historical variability of the past programs to establish cost and schedule estimates at the outset and periodically update these estimates with up-to-date risks, to increase the probability of program success. For this to happen, the authors recommend changes to estimating, acquisition and contracting processes.
New Trends in Construction Management
Construction Management
Construction Technology
Construction Planning and Management Systems using Primavera
Fundamentals of Construction Costs and Estimating
Plumbing Systems I: Code and Engineering
Construction Changes and Claims Documentation
Legal Aspects of Construction Projects and Contracts
Principles of Structural Analysis
Advanced Estimating and Management of Project Costs in the Preconstruction and Construction Phases
Construction Surveying and Metrics
Construction Budget and Cost Control
Construction Job Site Management
Construction Project Management Using MS Project
Reading Construction Blueprints
Electrical Design and Construction
The Solar Energy Solution: Harnessing Solar Power in the Home and Office
Leadership in Energy and Environmental Design
Introduction to Building Information Modeling
Construction Estimating and Design Analysis Using BIM
Land Development Procedures
You need to create a formal document that can be used to guide project execution and control. Get this template @ http://www.demandmetric.com/content/project-plan-template
NCV 3 Project Management Hands-On Support Slide Show - Module 1Future Managers
This slide show complements the learner guide NCV 3 Project Management Hands-On Training by Bert Eksteen published by Future Managers Pty Ltd. For more information visit our website www.futuremanagers.net
Risk Modeling and Analysis (Mitigating the Planning Fallacy)PMA Consultants
There are two strategies to mitigate the planning fallacy relative to project schedules, one relating to benchmarking activity durations, and the second advocates schedule risk analysis as the new normal. In support of this strategy, Dr. Gui introduces GPM schedule risk analysis and provides a demonstrative using NetRisk, the schedule risk analysis module now available with NetPoint.
Prof Shane Greenstein of Harvard Business School talks about his new book, How the Internet Became Commercial, at the Digital Initiative's Future Assembly.
Cost baselines and Cost budget are two terms from Project Cost Management, that could pose a challenge of understanding to many Project Managers.
https://www.mudassiriqbal.net/costbaseline-vs-budget/
For Other PM Concepts, you may visit https://www.mudassiriqbal.net/project-management-terms-and-concepts
Successful projects require accurate cost estimates, discuss major estimating techniques with this content ready Project Cost Estimation Methods Powerpoint Presentation Slides. Incorporate easy to use project estimation methods PPT slides to monitor project spending. The project estimation techniques PowerPoint complete deck includes various professional slides such as project description, process, management team, budget, timeline, work break down structure, activities sequence, Gantt chart, cost estimate, progress summary, dashboard, budgeting planned vs. actual, conclusion report, etc. Utilize project management budget PowerPoint templates to forecast the cost of completing a project with a defined scope. Assess the financial feasibility of a project using visually appealing cost estimating tools PPT visuals. Furthermore, with the help of planning cost management PPT slides, you can forecast the resources and associated costs. The methods of project estimation presentation deck have eye-appealing designs with relevant content. Simply download this professionally designed project estimation techniques presentation deck to impress your audience. Draw in fresh customers with our Project Cost Estimation Methods Powerpoint Presentation Slides. Your earnings are bound to improve.
Management of risk affects the success and financial viability of a project. Internal risks, which are generally within the control of a construction organisation, are cost and schedule overrun. External risks include market conditions, government policy and natural disasters.
This article describes the management of internal risks through integrated schedule and cost analysis as these are areas that can be managed effectively by a construction organisation with minimal set up cost.
The types of project referred to in this article can either be design-and-build or build-only projects. Other forms of procurement such as Build-Operate-Transfer (BOT) will attract different risks which are not considered herein.
Delivering programs with less capability than promised, while exceeding the cost and planned durations, distorts decision making, contributes to increasing cost growth to other programs, undermines the Federal government’s credibility with taxpayers and contributes to the public’s negative support for these programs.
Many reasons have been hypothesized and documented for cost and schedule growth. The authors review some of these reasons, and propose that government and contractors use the historical variability of the past programs to establish cost and schedule estimates at the outset and periodically update these estimates with up-to-date risks, to increase the probability of program success. For this to happen, the authors recommend changes to estimating, acquisition and contracting processes.
New Trends in Construction Management
Construction Management
Construction Technology
Construction Planning and Management Systems using Primavera
Fundamentals of Construction Costs and Estimating
Plumbing Systems I: Code and Engineering
Construction Changes and Claims Documentation
Legal Aspects of Construction Projects and Contracts
Principles of Structural Analysis
Advanced Estimating and Management of Project Costs in the Preconstruction and Construction Phases
Construction Surveying and Metrics
Construction Budget and Cost Control
Construction Job Site Management
Construction Project Management Using MS Project
Reading Construction Blueprints
Electrical Design and Construction
The Solar Energy Solution: Harnessing Solar Power in the Home and Office
Leadership in Energy and Environmental Design
Introduction to Building Information Modeling
Construction Estimating and Design Analysis Using BIM
Land Development Procedures
You need to create a formal document that can be used to guide project execution and control. Get this template @ http://www.demandmetric.com/content/project-plan-template
NCV 3 Project Management Hands-On Support Slide Show - Module 1Future Managers
This slide show complements the learner guide NCV 3 Project Management Hands-On Training by Bert Eksteen published by Future Managers Pty Ltd. For more information visit our website www.futuremanagers.net
Risk Modeling and Analysis (Mitigating the Planning Fallacy)PMA Consultants
There are two strategies to mitigate the planning fallacy relative to project schedules, one relating to benchmarking activity durations, and the second advocates schedule risk analysis as the new normal. In support of this strategy, Dr. Gui introduces GPM schedule risk analysis and provides a demonstrative using NetRisk, the schedule risk analysis module now available with NetPoint.
Prof Shane Greenstein of Harvard Business School talks about his new book, How the Internet Became Commercial, at the Digital Initiative's Future Assembly.
Project Name Risk Management PlanVersion 1.0 Error! Unkno.docxwkyra78
<Project Name> Risk Management Plan
Version: 1.0 Error! Unknown document property name.<Project Name>Risk Management Plan
Version Number: 1.0
Version Date: <mm/dd/yyyy>
Notes to the Author
[This document is a template of a Risk Management Plan document for a project. The template includes instructions to the author, boilerplate text, and fields that should be replaced with the values specific to the project.
· Blue italicized text enclosed in square brackets ([text]) provides instructions to the document author, or describes the intent, assumptions and context for content included in this document.
· Blue italicized text enclosed in angle brackets (<text>) indicates a field that should be replaced with information specific to a particular project.
· Text and tables in black are provided as boilerplate examples of wording and formats that may be used or modified as appropriate to a specific project. These are offered only as suggestions to assist in developing project documents; they are not mandatory formats.
When using this template, the following steps are recommended:
1. Replace all text enclosed in angle brackets (e.g., <Project Name>) with the correct field document values. These angle brackets appear in both the body of the document and in headers and footers. To customize fields in Microsoft Word (which display a gray background when selected) select File->Properties->Summary and fill in the appropriate fields within the Summary and Custom tabs.
After clicking OK to close the dialog box, update all fields throughout the document selecting Edit>Select All (or Ctrl-A) and pressing F9. Or you can update each field individually by clicking on it and pressing F9.
These actions must be done separately for any fields contained with the document’s Header and Footer.
2. Modify boilerplate text as appropriate for the specific project.
3. To add any new sections to the document, ensure that the appropriate header and body text styles are maintained. Styles used for the Section Headings are Heading 1, Heading 2 and Heading 3. Style used for boilerplate text is Body Text.
4. To update the Table of Contents, right-click on it and select “Update field” and choose the option - “Update entire table”.
5. Before submission of the first draft of this document, delete this instruction section “Notes to the Author” and all instructions to the author throughout the entire document.VERSION HISTORY
[Provide information on how the development and distribution of the Risk Management Plan will be controlled and tracked. Use the table below to provide the version number, the author implementing the version, the date of the version, the name of the person approving the version, the date that particular version was approved, and a brief description of the reason for creating the revised version.]
Version
Number
Implemented
By
Revision
Date
Approved
By
Approval
Date
Description of
Change
1.0
<Author name>
<mm/dd/yyyy>
<name>
<mm/dd/yy>
<description of ...
10.9 STORE-DRIVEN FORECASTS.
The Home Depot is a leading specialty retailer of hardware and home improvement products and is the second-largest retail store chain in the United States. It operates large warehouse-style stores. Despite declining sales and difficult economic conditions in 2007 and 2008, The Home Depot continued to invest in new stores. The following table provides summary data for The Home Depot.
Required
a. Use the preceding data for The Home Depot to compute average revenues per store, capital spending per new store, and ending inventory per store in 2008.
b. Assume that The Home Depot will add 100 new stores by the end of Year +1.
Use the data from 2008 to project Year +1 sales revenues, capital spending, and ending inventory. Assume that each new store will be open for business for an average of one-half year in Year _1. For simplicity, assume that in
Year +1, Home Depot’s sales revenues will grow, but only because it will open new stores.
<Project Name> Risk Management Plan
Version: 1.0 Error! Unknown document property name.<Project Name>Risk Management Plan
Version Number: 1.0
Version Date: <mm/dd/yyyy>
Notes to the Author
[This document is a template of a Risk Management Plan document for a project. The template includes instructions to the author, boilerplate text, and fields that should be replaced with the values specific to the project.
· Blue italicized text enclosed in square brackets ([text]) provides instructions to the document author, or describes the intent, assumptions and context for content included in this document.
· Blue italicized text enclosed in angle brackets (<text>) indicates a field that should be replaced with information specific to a particular project.
· Text and tables in black are provided as boilerplate examples of wording and formats that may be used or modified as appropriate to a specific project. These are offered only as suggestions to assist in developing project documents; they are not mandatory formats.
When using this template, the following steps are recommended:
1. Replace all text enclosed in angle brackets (e.g., <Project Name>) with the correct field document values. These angle brackets appear in both the body of the document and in headers and footers. To customize fields in Microsoft Word (which display a gray background when selected) select File->Properties->Summary and fill in the appropriate fields within the Summary and Custom tabs.
After clicking OK to close the dialog box, update all fields throughout the document selecting Edit>Select All (or Ctrl-A) and pressing F9. Or you can update each field individually by clicking on it and pressing F9.
These actions must be done separately for any fields contained with the document’s Header and Footer.
2. Modify boilerplate text as appropriate for the specific project.
3. To add any new sections to the document, ensure that the appropriate header and body text styles are maintained. Styles used for the Se.
D.Q1Information System and Enterprise Systems· Identify.docxtheodorelove43763
D.Q1:
"Information System and Enterprise Systems"
· Identify the key factors that companies should consider when deciding whether to buy or to build their own information systems. Explain your rationale.
· Select one (1) type of the four (4) enterprise systems (i.e., supply chain management, customer relationship management, knowledge management systems, and enterprise resource planning), and speculate on the main issues that companies may encounter when implementing the type of enterprise system that you have selected. Next, suggest two or three (2 or 3) general techniques that companies could use in order to mitigate the issues in question.
D.Q2:
"Management Support Systems"
· Review the main management support systems discussed in Chapter 12 of the textbook. Next, select one (1) such system, and describe its key components, capabilities, and the overall manner in which an organization could benefit from it. Include one (1) example of such application and related benefit(s) to support your response.
· Recommend two (2) strategies for designing a successful management support system for an organization. Provide a rationale to support your response.
D.Q3
"Expert Systems and Intelligent Agents"
· Use the Internet or the Strayer Library to research articles on expert systems and companies which use them. Next, select two (2) companies that currently use expert systems. Then, discuss the fundamental advantages and disadvantages of using expert systems instead of human expertise within the companies that you have selected. Provide a rationale to support your response.
· Select one (1) of the four (4) categories of intelligent agents, as discussed in Chapter 13 of the textbook, that is currently available. Identify the main risks of using intelligent agents in the category that you have selected. Next, speculate on one (1) way which you would use in order to mitigate the risks in question. Justify your response.
D.Q4
Collecting Cost and Schedule Performance Metrics" Please respond to the following:
· From the first and second e-Activities, develop one (1) innovative way to track key project costs (e.g., labor hours) for a complex project that lasts for two (2) years and involves more than fifty (50) resources. Be as creative as you like, and provide one (1) example which shows the significant ways in which your innovation would work in a real-world situation.
· Using the hotel project from Week 6 discussion, determine the best practice for conducting an earned value analysis for the project in question. Provide a rationale for your determination and one (1) specific example which illustrates the significant ways in which the best practice in question would work in real life.
D.Q5
"Steering Future Performance Back Toward the Baseline" Please respond to the following:
· Determine the fundamental impact of not using a project management tool which clearly displays the effect of delays in delivering work packages, as required per your project.
Templates and ExamplesTEMPLATE RISK MANAGEMENT PLAN FOR .docxmattinsonjanel
Templates and Examples
<TEMPLATE> RISK MANAGEMENT PLAN FOR THE <PROJECT NAME> PROJECT
Prepared by: <Project Manager> Approved by: <Project Sponsor> Reference: <> Version: <> Date: <>
INTRODUCTION
This document is the Risk Management Plan for the <project name> project, defining the risk management process to be employed throughout the life of this project. The project manager is responsible for reviewing and maintaining this Risk Management Plan throughout the project to ensure that the risk process remains appropriate to deal with the level of risk faced by the project.
PROJECT DESCRIPTION AND OBJECTIVES
<Brief description of the project, including its background and purpose>
The scope and objectives for the <project name> Project are summarized as follows:
• <list all objectives, including time, cost, scope, quality, performance, functionality, reputa- tion, business benefits, safety, etc.>
<Comment on relative prioritization of project objectives>
AIMS, SCOPE, AND OBJECTIVES OF RISK PROCESS
The <project name> project risk management process aims to manage all foreseeable risks (both opportunities and threats) in a manner that is proactive, effective, and appropriate, in order to maximize the likelihood of the project achieving its objectives, while maintaining risk exposure at an acceptable level.
“Acceptable risk” is defined for the <project name> project as <clear definition of how much risk is acceptable to key stakeholders such as the project sponsor, perhaps in terms of how many “high” threats can be present in the project, or maximum acceptable Threat P-I Score and minimum acceptable Opportunity P-I Score, or extent of allowable delay or additional cost>.
The risk process will aim to engage all project stakeholders appropriately, creating ownership and buy-in to the project itself and also to risk management actions.
FIGURE A-1: risk management Plan template (continues)
10 Practical Project Risk Management: The ATOM Methodology
Risk-based information will be communicated to project stakeholders in a timely manner at an appropriate level of detail, to enable project strategy to be modified in the light of current risk exposure.
The risk management process will enable project stakeholders to focus attention on those areas of the project most at risk by identifying the major risks (both opportunities and threats) poten- tially able to exert the greatest positive or negative influence on achievement of project objectives.
The risk management process covers all activities undertaken during the lifetime of the project.
<Clarify whether the risk process is intended to cover internal project risks only, or whether it extends to supplier risks, corporate risks, program risks, business risks, etc. Also clarify what types of risk are included; for example, technical risks, commercial risks, management risks, external risks, etc. Consider using a risk breakdown structure (RBS) for this (see Appendix B). Where some sources or types of risk are e ...
Risk Management Plan Project NameLast UpdatedOverviewPro.docxhealdkathaleen
Risk Management Plan
Project Name
Last Updated
Overview
Provide an overview of the process you plan to employ to manage risk, what roles will be involved, what the procedures will be and how you will measure the impacts of risk. Include the name of your project, and indicate the version of plan and illustrate how each new version will be indicated.
‹#›
PGMT 530 Risk, Procurement and Contracts
Risk Management Plan
Process
Describe the process you plan to employ to manage risks. Will existing meetings/groups be leveraged in order to alleviate meetings? What will be the escalation procedures.
‹#›
PGMT 530 Risk, Procurement and Contracts
Risk Management Plan
Roles and Responsibilities
Describe who will be involved with the risk management process. What roles and teams are required? Are meetings required? If so, how often?
‹#›
PGMT 530 Risk, Procurement and Contracts
Risk management Plan
Communications Strategy
Describe what methods will be used to communicate on issues. Will existing meetings be used? What will the escalation procedures be?
‹#›
PGMT 530 Risk, Procurement and Contracts
Risk Management Plan
Rules/Procedures
Describe the rules or procedures the team must follow when logging, managing, and assessing risk. Should all risks be submitted to the project manager? What mechanism will be used to log risks?
‹#›
PGMT 530 Risk, Procurement and Contracts
Risk Management Plan
Risk Impact Analysis Approach
Describe the process that will be used to assess the impact of each risk. Who will be involved in this impact analysis?
ImpactTimeOccurrence Probability Rank
(Impact x Occurrence probability = RankHigh – 3Greater than 3 months delay of schedule (3)Very likely greater than 70% or 53x70%=2.1Medium - 21-3 month delay in implementation (2)Probable – 30 to 70%Low – 11 week to 1 month delay in implementation (1)Unlikely
‹#›
PGMT 530 Risk, Procurement and Contracts
Risk Management Plan
Reporting Format
Describe the elements of your reporting format. Describe the elements of the format to provide approval of the plan
‹#›
PGMT 530 Risk, Procurement and Contracts
<Project Name> Risk Management Plan
Version: 1.0 Error! Unknown document property name.<Project Name>Risk Management Plan
Version Number: 1.0
Version Date: <mm/dd/yyyy>
Notes to the Author
This document is a template of a Risk Management Plan document for a project. The template includes instructions for the proper preparation of your complete risk management plan. Failure to address all of the sections will result in a deduction of points.
Project
Description
Please describe the project that will be the subject of your risk management plan.VERSION HISTORY
Provide information on how the development and distribution of the Risk Management Plan will be controlled and tracked. Use the table below to provide the version number, the author implementing the version, the date of the version, the name of the person approving the version, the date tha ...
Version #Implemented byRevision DateApproved byApproval Da.docxjessiehampson
Version #
Implemented by
Revision Date
Approved by
Approval Date
Reason
EXECUTION PLAN REVISION HISTORY
Table of Contents
1. 1. PROJECT OVERVIEW
1. 1.1 Purpose, Scope and Objectives, and Business Case
1. 1.1.1 Scope
2. 1.1.2 Statement of Work (SOW)
3. 1.1.3 Business Case
2. 1.2 Project Deliverables
3. 1.3 Project Organization
4. 1.4 Work Breakdown Structure (WBS)
1. 1.4.1 Task description documentation
2. 1.4.2 Organization Breakdown Structure (OBS)
5. 1.5 Responsibility Assignment Matrix (RAM)
6. 1.6 Work Authorization
7. 1.7 Project Charter
2. 2. RISK ASSESSMENT
1. 2.1 Risk Identification
2. 2.2 Assessment of Probability and Consequence (Qualitative)
3. 2.3 Assessment of Probability and Consequence (Quantitative)
4. 2.4 Mitigation Strategies
3. 3. PROJECT SCHEDULE
1. 3.1 Activity Duration Estimates
2. 3.2 Gantt Chart
3. 3.3 Activity Network
4. 4. PROJECT BUDGET
1. 4.1 Project Resources
2. 4.2 Other costs
3. 4.3 Cost estimates
4. 4.4 Time-phased budget
5. 5. COMMUNICATIONS MANAGEMENT
6. 6. TRACKING AND STATUS UPDATES
1. 6.1 Tracking method
2. 6.2 Notification record
3. 6.3 Control systems
7. 7. PROJECT CLOSE-OUT
1. 7.1 Close cost accounts
2. 7.2 Lessons Learned
1. Project Overview—This section is intended to provide a brief background description of the project, including motivation, goals and objectives, success criteria by which it will be evaluated, major project deliverables, and identified constraints. See Chapter 5 for development of project scope.
1. 1.1 Purpose, Scope and Objectives, and Business Case—Describe the purpose of the project here. What are the key deliverables, that is, the major items to be delivered to the customer, other stakeholders, suppliers, or other parties?
1. 1.1.1 Scope—Describe the project scope in general terms. Include a problem statement, detailed steps in requirements gathering (who was consulted, when?), information gathering (critical features uncovered from investigation), project constraints, alternatives analysis, and business case documentation.
2. 1.1.2 Statement of Work (SOW)—Include a detailed SOW for the project. Include:
· 1. Key milestones
· 2. Resource requirements
· 3. Risks and concerns
· 4. Acceptance criteria
3. 1.1.3 Business Case—Insert the project Business Case here. You can find an explanation of the business case in Chapter 5. Briefly identify the business needs to be satisfied, the feasibility of the project, a description of internal and external forces likely to affect the project, a comparative analysis of the costs and benefits of this project over alternative solutions, and time estimates to return on investment. Identify how the satisfaction of business needs will be determined.
2. 1.2 Project Deliverables—List the major items or project features to be delivered to the client. Include sign-off documentation from client to demonstrate their concurrence with the deliverable set.
3. 1.3 Project Organization—Indicate al ...
EXECUTION PLAN REVISION HISTORYVersion #Implemented byReBetseyCalderon89
EXECUTION PLAN REVISION HISTORY
Version #
Implemented by
Revision Date
Approved by
Approval Date
Reason
Table of Contents
1. PROJECT OVERVIEW
1.1 Purpose, Scope and Objectives, and Business Case
1.1.1 Scope
1.1.2 Statement of Work (SOW)
1.1.3 Business Case
1.2 Project Deliverables
1.3 Project Organization
1.4 Work Breakdown Structure (WBS)
1.4.1 Task description documentation
1.4.2 Organization Breakdown Structure (OBS)
1.5 Responsibility Assignment Matrix (RAM)
1.6 Work Authorization
1.7 Project Charter
2. RISK ASSESSMENT
2.1 Risk Identification
2.2 Assessment of Probability and Consequence (Qualitative)
2.3 Assessment of Probability and Consequence (Quantitative)
2.4 Mitigation Strategies
3. PROJECT SCHEDULE
3.1 Activity Duration Estimates
3.2 Gantt Chart
3.3 Activity Network
4. PROJECT BUDGET
4.1 Project Resources
4.2 Other costs
4.3 Cost estimates
4.4 Time-phased budget
5. COMMUNICATIONS MANAGEMENT
6. TRACKING AND STATUS UPDATES
6.1 Tracking method
6.2 Notification record
6.3 Control systems
7. PROJECT CLOSE-OUT
7.1 Close cost accounts
7.2 Lessons Learned
Project Overview—This section is intended to provide a brief background description of the project, including motivation, goals and objectives, success criteria by which it will be evaluated, major project deliverables, and identified constraints. See Chapter 5 for development of project scope.
1.1Purpose, Scope and Objectives, and Business Case—Describe the purpose of the project here. What are the key deliverables, that is, the major items to be delivered to the customer, other stakeholders, suppliers, or other parties?
1.1.1Scope—Describe the project scope in general terms. Include a problem statement, detailed steps in requirements gathering (who was consulted, when?), information gathering (critical features uncovered from investigation), project constraints, alternatives analysis, and business case documentation.
1.1.2Statement of Work (SOW)—Include a detailed SOW for the project. Include:
1. Key milestones
2. Resource requirements
3. Risks and concerns
4. Acceptance criteria
1.1.3Business Case—Insert the project Business Case here. You can find an explanation of the business case in Chapter 5. Briefly identify the business needs to be satisfied, the feasibility of the project, a description of internal and external forces likely to affect the project, a comparative analysis of the costs and benefits of this project over alternative solutions, and time estimates to return on investment. Identify how the satisfaction of business needs will be determined.
1.2Project Deliverables—List the major items or project features to be delivered to the client. Include sign-off documentation from client to demonstrate their concurrence with the deliverable set.
1.3Project Organization—Indicate all project team members, their specific roles, and project organization hierarchy. Where appropriate, indicate joint responsibility between project m ...
1 Assignment Objectives Introduction to Project Risk Managemen.docxhoney725342
1 Assignment Objectives
Introduction to Project Risk Management
Explain how risk management is integrated as a component into the total project management approach.
400 Words
Risks can occur as a result of both known risks, such as for newer tasks there may be a learning curve that causes delays in the delivery of a task, and unknown risks, such as events like an earthquake or tsunami. Also, some suggest that they take calculated risks, where careful consideration is taken before taking on a challenge. Risk management, in essence, is doing the same thing in a more formalized process. The discussion assignment for this week will be an evaluation of how risk management can be a contributor versus an inhibitor to a project.
The following Discussion Board task will assist you in evaluating various types of risk. Research at least 2 sources (which may include your textbook) to support your response.
1.Describe a project that you were involved with, or are familiar with, and the types of risks (at least 5) that occurred.
2.How were these risks handled or mitigated?
3.When the risk occurred, what impact did it have on the overall project, such as from a cost and schedule-deadline perspective?
4.If a risk management process was not in place, explain why it may have helped. If a process was in place, did it help, and why?
Write 2 more paragraphs that are an introduction and conclusion to this topic. Be sure to include your references, and format your submission in APA format.
2 Assignment Objectives
Introduction to Project Risk Management
Explain how risk management is integrated as a component into the total project management approach
1,100 Words, including many empty sections, in a Word document
Risks fall in a few categories, known and unknown. It is extremely important in any project to effectively plan for both with a contingency budget and resources because some will happen. In this class, you are asked to develop a Risk Management Strategy and Plan that identifies potential risks, ranks them by impact and likeliness, contains mitigation strategies, and includes a way to control and communicate them. You will select a project that you may have developed in a previous class or a known project in your organization to create this strategy and plan for.
Throughout this course, you will be working on developing several components of a final Key Assignment. Additional information and the deliverables for each Individual Project will be provided in the assignment description for this project.
In this first Individual Project, you are asked to develop the outline of the sections that will be included in the “Risk Management Strategy and Plan” document and a draft of a proposal to submit to your instructor. The other information you will include is a high-level description of the project you will be conducting the risk analysis on.
You will also be setting up the final Key Assignment outline that you will add to each week. The combined In ...
Adeptus Health InternationalProject Name Project Management .docxgalerussel59292
Adeptus Health International
<Project Name> Project Management Plan
Version: <1.0> <Draft>Adeptus Health Internationalproject Management plan
Version 1.0
10/12/2015VERSION HISTORY
[Provide information on how the development and distribution of the Project Management Plan was controlled and tracked. Use the table below to provide the version number, the author implementing the version, the date of the version, the name of the person approving the version, the date that particular version was approved, and a brief description of the reason for creating the revised version.]
Version #
Implemented
By
Revision
Date
Approved
By
Approval
Date
Reason
1.0
<Author name>
<mm/dd/yy>
<name>
<mm/dd/yy>
<reason>
UP Template Version: 11/30/06
Note to the Author
[This document is a template of a Project Management Plan document for a project. The template includes instructions to the author, boilerplate text, and fields that should be replaced with the values specific to the project.
· Blue italicized text enclosed in square brackets ([text]) provides instructions to the document author, or describes the intent, assumptions and context for content included in this document.
· Blue italicized text enclosed in angle brackets (<text>) indicates a field that should be replaced with information specific to a particular project.
· Text and tables in black are provided as boilerplate examples of wording and formats that may be used or modified as appropriate to a specific project. These are offered only as suggestions to assist in developing project documents; they are not mandatory formats.
When using this template for your project document, it is recommended that you follow these steps:
1. Replace all text enclosed in angle brackets (e.g.,, <Project Name>) with the correct field values. These angle brackets appear in both the body of the document and in headers and footers. To customize fields in Microsoft Word (which display a gray background when selected):
a. Select File>Properties>Summary and fill in the Title field with the Document Name and the Subject field with the Project Name.
b. Select File>Properties>Custom and fill in the Last Modified, Status, and Version fields with the appropriate information for this document.
c. After you click OK to close the dialog box, update the fields throughout the document with these values by selecting Edit>Select All (or Ctrl-A) and pressing F9. Or you can update an individual field by clicking on it and pressing F9. This must be done separately for Headers and Footers.
2. Modify boilerplate text as appropriate to the specific project.
3. To add any new sections to the document, ensure that the appropriate header and body text styles are maintained. Styles used for the Section Headings are Heading 1, Heading 2 and Heading 3. Style used for boilerplate text is Body Text.
4. To update the Table of Contents, right-click and select “Update field” and choose the option- “Update .
Adeptus Health InternationalProject Name Project Management .docxbobbywlane695641
Adeptus Health International
<Project Name> Project Management Plan
Version: <1.0> <Draft>Adeptus Health Internationalproject Management plan
Version 1.0
10/12/2015VERSION HISTORY
[Provide information on how the development and distribution of the Project Management Plan was controlled and tracked. Use the table below to provide the version number, the author implementing the version, the date of the version, the name of the person approving the version, the date that particular version was approved, and a brief description of the reason for creating the revised version.]
Version #
Implemented
By
Revision
Date
Approved
By
Approval
Date
Reason
1.0
<Author name>
<mm/dd/yy>
<name>
<mm/dd/yy>
<reason>
UP Template Version: 11/30/06
Note to the Author
[This document is a template of a Project Management Plan document for a project. The template includes instructions to the author, boilerplate text, and fields that should be replaced with the values specific to the project.
· Blue italicized text enclosed in square brackets ([text]) provides instructions to the document author, or describes the intent, assumptions and context for content included in this document.
· Blue italicized text enclosed in angle brackets (<text>) indicates a field that should be replaced with information specific to a particular project.
· Text and tables in black are provided as boilerplate examples of wording and formats that may be used or modified as appropriate to a specific project. These are offered only as suggestions to assist in developing project documents; they are not mandatory formats.
When using this template for your project document, it is recommended that you follow these steps:
1. Replace all text enclosed in angle brackets (e.g.,, <Project Name>) with the correct field values. These angle brackets appear in both the body of the document and in headers and footers. To customize fields in Microsoft Word (which display a gray background when selected):
a. Select File>Properties>Summary and fill in the Title field with the Document Name and the Subject field with the Project Name.
b. Select File>Properties>Custom and fill in the Last Modified, Status, and Version fields with the appropriate information for this document.
c. After you click OK to close the dialog box, update the fields throughout the document with these values by selecting Edit>Select All (or Ctrl-A) and pressing F9. Or you can update an individual field by clicking on it and pressing F9. This must be done separately for Headers and Footers.
2. Modify boilerplate text as appropriate to the specific project.
3. To add any new sections to the document, ensure that the appropriate header and body text styles are maintained. Styles used for the Section Headings are Heading 1, Heading 2 and Heading 3. Style used for boilerplate text is Body Text.
4. To update the Table of Contents, right-click and select “Update field” and choose the option- “Update .
Project Name Project Management PlanVersion 1.0 Draf.docxbriancrawford30935
<Project Name> Project Management Plan
Version: <1.0> <Draft><Project Name>project Management plan
Version <1.0>
<mm/dd/yyyy>VERSION HISTORY
[Provide information on how the development and distribution of the Project Management Plan was controlled and tracked. Use the table below to provide the version number, the author implementing the version, the date of the version, the name of the person approving the version, the date that particular version was approved, and a brief description of the reason for creating the revised version.]
Version #
Implemented
By
Revision
Date
Approved
By
Approval
Date
Reason
1.0
<Author name>
<mm/dd/yy>
<name>
<mm/dd/yy>
<reason>
UP Template Version: 11/30/06
Note to the Author
[This document is a template of a Project Management Plan document for a project. The template includes instructions to the author, boilerplate text, and fields that should be replaced with the values specific to the project.
· Blue italicized text enclosed in square brackets ([text]) provides instructions to the document author, or describes the intent, assumptions and context for content included in this document.
· Blue italicized text enclosed in angle brackets (<text>) indicates a field that should be replaced with information specific to a particular project.
· Text and tables in black are provided as boilerplate examples of wording and formats that may be used or modified as appropriate to a specific project. These are offered only as suggestions to assist in developing project documents; they are not mandatory formats.
When using this template for your project document, it is recommended that you follow these steps:
1. Replace all text enclosed in angle brackets (e.g.,, <Project Name>) with the correct field values. These angle brackets appear in both the body of the document and in headers and footers. To customize fields in Microsoft Word (which display a gray background when selected):
a. Select File>Properties>Summary and fill in the Title field with the Document Name and the Subject field with the Project Name.
b. Select File>Properties>Custom and fill in the Last Modified, Status, and Version fields with the appropriate information for this document.
c. After you click OK to close the dialog box, update the fields throughout the document with these values by selecting Edit>Select All (or Ctrl-A) and pressing F9. Or you can update an individual field by clicking on it and pressing F9. This must be done separately for Headers and Footers.
2. Modify boilerplate text as appropriate to the specific project.
3. To add any new sections to the document, ensure that the appropriate header and body text styles are maintained. Styles used for the Section Headings are Heading 1, Heading 2 and Heading 3. Style used for boilerplate text is Body Text.
4. To update the Table of Contents, right-click and select “Update field” and choose the option- “Update entire table”
5. Before submission of .
complete any required actions as described in the highlighted are.docxmccormicknadine86
<complete any required actions as described in the highlighted areas within this document. Then remove all highlighted areas before submitting the final paper. A quality product is important in business so make sure grammar is correct and that all text is of a consistent structure and font for the style of text used (i.e. Normal Calibri 12-font Style vs Heading style)>
<do not remove any text that is not highlighted as these are part of the official document>
Risk Management Plan
Create a risk management plan, using the template below. To do so, you must:
1. Develop and provide an introduction to the plan by explaining its purpose and importance.
1. Create an outline for the completed risk management plan.
1. Define the scope and boundaries of the plan.
1. Research and summarize compliance laws and regulations that pertain to this type of organization.
1. Identify the key roles and responsibilities of individuals and departments within the organization as they pertain to risk management.
1. Develop a proposed schedule for the risk management planning process.
1. Create a professional report detailing the information above as an initial draft of the risk management plan.
Use the Project template developed before the Residency Weekend. You must incorporate all 26 Weaknesses into this Risk Management Plan (the 2 examples plus the other 24 weaknesses).
Add a cover page with the title of “Risk Management Plan” followed by the name of the company.
Add a table-of-contents on page #2 to help guide the reader concerning topics that will be covered in the plan. This table-of-contents should be included in your power-point presentation.
Add a Reference page and in-text citations for all references you are using in the paper.
Add page #’s in the middle of the bottom footing area. The cover page and Reference page should not include page #’s
risk management planExecutive Summary
The purpose of this Risk Management Plan is to …
<in a short paragraph, define what a Risk Management plan should provide. Use the textbook and do research to provide an executive summary that fits an Executive Summary.>
<make sure you also identify how this Risk Management plan applies to this industry>Introduction
Health Network, Inc. (Health Network), a fictitious health services organization headquartered in Minneapolis, Minnesota… <copy the relevant information about Health Network, Inc. from the project scenario and enter it in this Introduction section. At the end, add a sentence identifying which systems are supported by 3rd party vendors and as such will not be directly covered by this Risk Management plan.>risk identification process
<in a short paragraph, define Risk Identification using the textbook and other research as it related to this Risk Management plan.>Strengths, Weaknesses, Opportunities, and Threats
< use the textbook and do research to define and provide a short description about SWOT>Roles and responsibilities
< use the textbook and do res ...
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
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Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
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"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Implicitly or explicitly all competing businesses employ a strategy to select a mix
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involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
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2. <Project Name>
Notes to the Author
[This document is a template of a Risk Management Plan document for a project. The template includes
instructions to the author, boilerplate text, and fields that should be replaced with the values specific to
the project.
• Blue italicized text enclosed in square brackets ([text]) provides instructions to the document
author, or describes the intent, assumptions and context for content included in this document.
• Blue italicized text enclosed in angle brackets (<text>) indicates a field that should be replaced
with information specific to a particular project.
• Text and tables in black are provided as boilerplate examples of wording and formats that may be
used or modified as appropriate to a specific project. These are offered only as suggestions to
assist in developing project documents; they are not mandatory formats.
When using this template, the following steps are recommended:
1. Replace all text enclosed in angle brackets (e.g., <Project Name>) with the correct field
document values. These angle brackets appear in both the body of the document and in headers
and footers. To customize fields in Microsoft Word (which display a gray background when
selected) select File->Properties->Summary and fill in the appropriate fields within the Summary
and Custom tabs.
After clicking OK to close the dialog box, update all fields throughout the document selecting
Edit>Select All (or Ctrl-A) and pressing F9. Or you can update each field individually by clicking
on it and pressing F9.
These actions must be done separately for any fields contained with the document’s Header and
Footer.
2. Modify boilerplate text as appropriate for the specific project.
3. To add any new sections to the document, ensure that the appropriate header and body text
styles are maintained. Styles used for the Section Headings are Heading 1, Heading 2 and
Heading 3. Style used for boilerplate text is Body Text.
4. To update the Table of Contents, right-click on it and select “Update field” and choose the option
- “Update entire table”.
5. Before submission of the first draft of this document, delete this instruction section “Notes to the
Author” and all instructions to the author throughout the entire document.
EPLC Risk Management Plan (v 1.0) Page 1 of 14
[Insert appropriate disclaimer(s)]
3. <Project Name>
VERSION HISTORY
[Provide information on how the development and distribution of the Risk Management
Plan will be controlled and tracked. Use the table below to provide the version number,
the author implementing the version, the date of the version, the name of the person
approving the version, the date that particular version was approved, and a brief
description of the reason for creating the revised version.]
Version
Number
Implemented
By
Revision
Date
Approved
By
Approval
Date
Description of
Change
1.0 <Author name> <mm/dd/yyyy
>
<name> <mm/dd/yy> <description of change>
EPLC Risk Management Plan (v 1.0) Page 2 of 14
[Insert appropriate disclaimer(s)]
4. <Project Name>
TABLE OF CONTENTS
1.0 INTRODUCTION.........................................................................................................4
1.1Purpose Of The Risk Management Plan.............................................................................4
2.0 RISK MANAGEMENT PROCEDURE.........................................................................4
2.1Process.................................................................................................................................4
2.2ROLES AND RESPONSIBILITIES...................................................................................4
2.3Risk Identification...............................................................................................................5
2.1Methods for Risk Identification...................................................................................5
2.4Risk Analysis.......................................................................................................................6
2.1Qualitative Risk Analysis............................................................................................6
2.2Quantitative Risk Analysis..........................................................................................6
2.5Risk Response Planning......................................................................................................6
2.6Risk Monitoring, Controlling, And Reporting....................................................................7
2.7Risk Contingency Budgeting...............................................................................................8
3.0 TOOLS AND PRACTICES..........................................................................................8
4.0 CLOSING A RISK.......................................................................................................8
5.0 LESSONS LEARNED.................................................................................................9
APPENDIX A: RISK MANAGEMENT PLAN APPROVAL.................................................10
APPENDIX B: REFERENCES..................................................................................................11
APPENDIX C: KEY TERMS.....................................................................................................12
EPLC Risk Management Plan (v 1.0) Page 3 of 14
[Insert appropriate disclaimer(s)]
5. <Project Name>
1.0 INTRODUCTION
1.1 PURPOSE OF THE RISK MANAGEMENT PLAN
A risk is an event or condition that, if it occurs, could have a positive or negative
effect on a project’s objectives. Risk Management is the process of identifying,
assessing, responding to, monitoring and controlling, and reporting risks. This Risk
Management Plan defines how risks associated with the <Project Name> project
will be identified, analyzed, and managed. It outlines how risk management
activities will be performed, recorded, and monitored throughout the lifecycle of the
project and provides templates and practices for recording and prioritizing risks by
the Risk Manager and/or Risk Management Team.
Risks related to IT systems or applications must be identified and documented
based on the methodology in NIST SP 800-30, Risk Management Guide for
Information Technology Systems. IT system or application weaknesses must be
identified on an associated plan of action and milestones (POA&M) and tracked in
accordance with HHS POA&M guidelines. Appropriate protective measures must
be taken to safeguard sensitive IT system or application weaknesses or
vulnerabilities from unauthorized disclosure.
2.0 RISK MANAGEMENT PROCEDURE
2.1 PROCESS
[Summarize the steps necessary for responding to project risk.]
The project manager working with the project team and project sponsors will
ensure that risks are actively identified, analyzed, and managed throughout the life
of the project. Risks will be identified as early as possible in the project so as to
minimize their impact. The steps for accomplishing this are outlined in the
following sections. The <project manager or other designee> will serve as the
Risk Manager for this project.
A distinction may need to be made between overall project risk management and
IT system or application risk management. Risks related to IT systems or
applications must be identified and documented based on the methodology in
NIST SP 800-30, Risk Management Guide for Information Technology Systems.
2.2 ROLES AND RESPONSIBILITIES
Role Responsibilities
Business
SME (BSME)
The BSME assists in identifying and determining the
context, consequence, impact, timing, and priority of
the risk.
EPLC Risk Management Plan (v 1.0) Page 4 of 14
[Insert appropriate disclaimer(s)]
6. <Project Name>
Risk Manager
or Project
Manager (PM)
The Risk Manager or PM is a member of the Integrated
Project Team (IPT). The Risk Manager or PM
determines if the Risk is unique, identifies risk
interdependencies across projects, verifies if risk is
internal or external to project, assigns risk classification
and tracking number. During the life of the project,
they continually monitor the projects for potential risks.
Integrated
Project Team
The IPT is responsible for identifying the risks, the
dependencies of the risk within the project, the context
and consequence of the risk. They are also
responsible for determining the impact, timing, and
priority of the risk as well as formulating the risk
statements.
Risk Owner(s) The risk owner determines which risks require
mitigation and contingency plans, he/she generates the
risk mitigation and contingency strategies and performs
a cost benefit analysis of the proposed strategies. The
risk owner is responsible for monitoring and controlling
and updating the status of the risk throughout the
project lifecycle. The risk owner can be a member of
the project team.
Other Key
Stakeholders
The other stakeholders assist in identifying and
determining the context, consequence, impact, timing,
and priority of the risk.
2.3 RISK IDENTIFICATION
Risk identification will involve the project team, appropriate stakeholders, and will
include an evaluation of environmental factors, organizational culture and the
project management plan including the project scope, schedule, cost, or quality.
Careful attention will be given to the project deliverables, assumptions, constraints,
WBS, cost/effort estimates, resource plan, and other key project documents.
2.1 Methods for Risk Identification
The following methods will be used to assist in the identification of risks associated
with <Project Name>:
• Brainstorming
• Interviewing
• SWOT (Strengths, Weaknesses, Opportunities and Threats)
• Diagramming
• Etc.
A Risk Management Log will be generated and updated as needed and will be
stored electronically in the project library located at <file location>.
EPLC Risk Management Plan (v 1.0) Page 5 of 14
[Insert appropriate disclaimer(s)]
7. <Project Name>
2.4 RISK ANALYSIS
All risks identified will be assessed to identify the range of possible project
outcomes. Risks will be prioritized by their level of importance.
2.1 Qualitative Risk Analysis
The probability and impact of occurrence for each identified risk will be assessed
by the project manager, with input from the project team using the following
approach:
Probability
• High – Greater than <70%> probability of occurrence
• Medium – Between <30%> and <70%> probability of occurrence
• Low – Below <30%> probability of occurrence
Impact
• High – Risk that has the potential to greatly impact project cost, project schedule
or performance
• Medium – Risk that has the potential to slightly impact project cost, project
schedule or performance
• Low – Risk that has relatively little impact on cost, schedule or performance
Risks that fall within the RED and YELLOW zones will have risk response plan
which may include both a risk response strategy and a risk contingency plan.
2.2 Quantitative Risk Analysis
Analysis of risk events that have been prioritized using the qualitative risk analysis
process and their affect on project activities will be estimated, a numerical rating is
applied to each risk based on quantitative analysis, and then documented in this
section of the risk management plan.
2.5 RISK RESPONSE PLANNING
Each major risk (those falling in the Red & Yellow zones) will be assigned to a risk
owner for monitoring and controlling purposes to ensure that the risk will not “fall
through the cracks”.
For each major risk, one of the following approaches will be selected to address it:
• Avoid – Eliminate the threat or condition or to protect the project objectives from
its impact by eliminating the cause
• Mitigate – Identify ways to reduce the probability or the impact of the risk
• Accept – Nothing will be done
• Contingency –Define actions to be taken in response to risks
EPLC Risk Management Plan (v 1.0) Page 6 of 14
[Insert appropriate disclaimer(s)]
Impact
H
M
L
L M H
Probability
8. <Project Name>
• Transfer – Shift the consequence of a risk to a third party together with
ownership of the response by making another party responsible for the risk (buy
insurance, outsourcing, etc.)
For each risk that will be mitigated, the project team will identify ways to prevent
the risk from occurring or reduce its impact or probability of occurring. This may
include prototyping, adding tasks to the project schedule, adding resources, etc.
Any secondary risks that result from risk mitigation response will be documented
and follow the risk management protocol as the primary risks.
For each major risk that is to be mitigated or that is accepted, a course of action
will be outlined in the event that the risk does materialize in order to minimize its
impact.
2.6 RISK MONITORING, CONTROLLING, AND REPORTING
The level of risk on a project will be tracked, monitored and controlled and
reported throughout the project lifecycle. [Describe the methods and metrics that
will be used to track the project’s risk status throughout the lifecycle as well as
how this status will be reported to the stakeholders/ management.]
Risks will be assigned a risk owner(s) who will track, monitor and control and
report on the status and effectiveness of each risk response action to the Project
Manager and Risk Management Team on a <insert timeframe>.
A “Top 10 Risk List” will be maintained by the PM/Risk Manager or IPT and will be
reported as a component of the project status reporting process for this project.
All project change requests will be analyzed for their possible impact to the project
risks.
As Risk Events occur, the list will be re-prioritized during weekly reviews and risk
management plan will reflect any and all changes to the risk lists including
secondary and residual risks.
Management will be notified of important changes to risk status as a component to
the Executive Project Status Report. [State timeframe, i.e., every two weeks]
The Risk Manager (PM) will:
• Review, reevaluate, and modify the probability and impact for each risk item
[timeframe, as needed, every two weeks, etc.]
• Analyze any new risks that are identified and add these items to the risk list (or
risk database).
• Monitor and control risks that have been identified
• Review and update the top ten risk list [timeframe, as needed, every two
weeks, etc.]
• Escalate issues/ problems to management [List factors that would need to be
escalated to management. Examples: documented mitigation actions are not
effective or producing the desired results; the overall level of risk is rising.]
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9. <Project Name>
The Risk Owner will:
• Help develop the risk response and risk trigger and carry out the execution of
the risk response, if a risk event occurs.
• Participate in the review, re-evaluation, and modification of the probability and
impact for each risk item on a weekly basis.
• Identify and participate in the analysis of any new risks that occur.
• Escalate issues/problems to PM that,
o Significantly impact the projects triple constraint or trigger another risk
event to occur.
o Require action prior to the next weekly review
o Risk strategy is not effective or productive causing the need to execute
the contingency plan.
Risk activities will be recorded in the <Document Name/ Risk Database Name>
located on <full network path location>.
2.7 RISK CONTINGENCY BUDGETING
A risk contingency budget can be established to prepare in advance for the
possibility that some risks will not be managed successfully. The risk contingency
budget will contain funds that can be tapped so that your project doesn't go over
budget.
There is a total of <$X> in the <Project Name> Project budget allocated for Risk
Management activities. These activities may include, but are not limited to,
identifying, analyzing, tracking, controlling, managing, and planning for risks. This
also includes creating and updating the risk response strategies and contingency
plans.
[Above is only an example of text that could be used. Enter whatever information
is appropriate to outline/ define the budget associated with the Risk Management
activities on the project.]
3.0 TOOLS AND PRACTICES
A Risk Management Log will be maintained by the project manager and will be
reviewed as a standing agenda item for project team meetings.
Risk activities will be recorded in the <Document Name/ Risk Database Name>
located on <full network path location>.
4.0 CLOSING A RISK
A risk will be considered closed when it meets the following criteria:
• <List the criteria when a risk can be closed>
• <Who has the authority to close a risk? >
Examples:
• Risk is no longer valid
• Risk Event has occurred
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10. <Project Name>
• Risk is no longer considered a risk
• Risk closure at the direction of the Project Manager
5.0 LESSONS LEARNED
The lessons learned will be captured and recorded in the <Document Name/ Risk
Database Name/Lessons Learned document or folder> located on <full network
path location>.
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11. <Project Name>
Appendix A: Risk Management Plan Approval
The undersigned acknowledge that they have reviewed the <Project Name> Risk
Management Plan and agree with the information presented within this document.
Changes to this Risk Management Plan will be coordinated with, and approved
by, the undersigned, or their designated representatives.
[List the individuals whose signatures are desired. Examples of such individuals
are Business Owner, Project Manager (if identified), and any appropriate
stakeholders. Add additional lines for signature as necessary.]
Signature: Date:
Print Name:
Title:
Role:
Signature: Date:
Print Name:
Title:
Role:
Signature: Date:
Print Name:
Title:
Role:
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12. <Project Name>
APPENDIX B: REFERENCES
[Insert the name, version number, description, and physical location of any
documents referenced in this document. Add rows to the table as necessary.]
The following table summarizes the documents referenced in this document.
Document Name Description Location
<Document Name and
Version Number>
<Document description> <URL or Network path where document
is located>
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13. <Project Name>
APPENDIX C: KEY TERMS
The following table provides definitions and explanations for terms and acronyms
relevant to the content presented within this document.
Term Definition
[Insert Term] <Provide definition of term and acronyms used in this document.>
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