Discuss why risk management is so important

Reference no: EM13802238

PART A:

The first step will be to select a project that you to develop a risk management strategy and plan for.

1. Nontrivial: The selected project candidate should reflect a real-life project that has at least the major milestones identified.

2. Domain Knowledge: You will be applying knowledge of this project to address assignments related to identifying and analyzing risks.

3. Select a project that fits these requirements.

PART B:

I. Project Outline

1. Brief description of the project.

2. The milestones and/or WBS for the project.

II. Risk Management Justification

1. Discuss why risk management is so important to the success of the selected project in a letter to the project sponsor.

2. Describe the steps that will be used to develop the Risk Management Plan.

3. Represent this process in a flow diagram as well.

III. Project Risks Identification

1. Start brainstorming, at a high level, on some categories where risk could occur in this project (Note: you will continue this brainstorming activity in the next week with specifics, likelihood, and impact).

Reference no: EM13802238

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