Due Week 5: Risk Management Plan

1. Establish the project's priority matrix (constrain, enhance, accept). See Figure 4.2, page 107.

2. Identify a minimum of 10 project risks, when it will occur in the project life cycle, and determine the probability of the risk occurrence.

3. Create a matrix similar to the one from the your text (Larson/Gray, Figure 7.5, page 217), making sure that it is consistent with your priority matrix.

4. Justify the use of your risk scoring matrix.

5. Assess your risks according to your matrix.

6. Rank the risks according to their total risk score.

7. Prepare the Risk Response Matrix for each risk--Risk, Response, Contingency, Trigger, Responsible Person--as presented in the Larson/Gray text page 224, Figure 7.8.

Deliverables:

· Use the Risk Management Analysis Template spreadsheet (risk management analysis template.xls) found in Doc Sharing (there is a separate tab for each portion of the Risk Management Plan)

· If working in a team, include a statement of participation, describing how each person contributed to this project deliverable. Please have each person sign the statement.