Create a risk management plan. You have a budget of $100,000 and a timeline of six (6) months for the plan. Refer to Figure A-1, Risk Management Plan Template, from Appendix A of the Hillson and Simon text to create the plan.
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Write  5 pages paper Risk Management Plan Component paper in which you:
Prepare the Scope and Objectives of the Risk Management Process section of the Risk Management Plan based on the facts presented in the case study.
Determine the project size, Example Project Sizing Tool (Chapter 3 of the Hillson and Simon text).
Select the risk tools and techniques, and complete the Risk Tools and Techniques section of the Risk Management Plan for both the qualitative and quantitative aspects of the project. Provide a rationale for the selection.
Develop the Risk Reviews and Reporting section of the Risk Management Plan based on the project size previously determined.
Define the Probability and Impacts section of the Risk Management Plan and justify the values assigned.
Define the Risk Thresholds section of the Risk Management Plan and justify the values assigned.

Answer rating: 100% (QA)

Risk is defined as an event that has a probability of occurring and could have either a positive or negative impact to a project should that risk occur Risk management is an ongoing process that conti... View the full answer