Effective risk management for the project

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Reference no: EM132917203

Risk involves uncertainty, the lack of knowledge of future events, and the measures of profitability and consequences of not achieving the project goal. Your organization has decided that, to be successful in the global economy, it must expand its supply base into China or another country approved by your faculty member. This has become a strategic project for the organization.

Select an organization with which you are familiar as the basis of the paper.

Write a paper in which you address the following risk management items for this supplier global expansion project:

Describe the objectives and goals, tools and techniques, and organizational roles and responsibilities for effective risk management for the project.

Describe various information sources that may be used by the project team for risk identification.

Identify and describe the risk management documentation that will be required for the project. Examples include RMP and risk management log or register.

Explain the role of risk management in the project planning process.

Create a risk breakdown structure that outlines the organization's risk categories.

Consider the following categories:

Project risks

Business

Contract relationships with customers and suppliers

Management

Political

Organizational risks

Project management risks

Cost estimates

Schedule estimates

Communication

Technical risks

Production risks

Manufacturing concerns

Logistics

Support risks

Maintainability

Warranty

External risks

Procurement

Material availability

Lead times

Quality

Market

Reference no: EM132917203

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