Project Management $$ Contingency Plans $$ Part $5$: Planning

Objective: Understand the importance of managing risks in project planning. Stimulates critical thinking, collaboration, problem solving and coursework integration.

Contingency Plan:

$$ Develop a contingency plan for the HIGH risks identified in Part $4.$

$$ Outline specific actions, responsibilities, and triggers for implementing the contingency plan.

$$ Identify the resources and budget required to execute the plan. Is there enough money in the original budget to cover this contingency plan?

$$ Use the $$Contingency Plan Chart$$ below to record and organise your information. The chart is filled with information that should be included $$ please remove this and add your data.

Contingency Plan Chart

HIGH Risk Description

Risk Owner

Trigger$/$Event for Activation

Contingency Plan Description

HIGH Risk $1$

Responsible$1$

Describe the trigger or event that would activate this contingency plan.

Describe the contingency plan, including specific actions, resources, and responsibilities. This will include the option selected for your HIGH risk in Part $4$

HIGH Risk $2$

Responsible$2$

Describe the trigger or event that would activate this contingency plan.

Describe the contingency plan, including specific actions, resources, and responsibilities. This will include the option selected for your HIGH risk in Part $4$

$...$

$...$

$...$

$...$

$$

$$ Risk Description: Describe the risk for which the contingency plan is being developed.

Risk Owner: Identify the person or team responsible for managing the risk and implementing the contingency plan.

Trigger$/$Event for Activation: Explain the specific trigger or event that would activate the contingency plan. This could be a milestone not met, a critical issue arising, a certain date, or any other relevant event.

Contingency Plan Description: Provide a detailed description of the contingency plan, including the specific actions that will be taken, the resources required, and the responsibilities of team members involved in implementing the plan.