BUS 519 Assignment 2 Risk Management Plan ( EQI in SIWA )
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<strong>BUS</strong> <strong>519</strong> <strong>Assignment</strong> 2: <strong>Risk</strong> <strong>Management</strong> <strong>Plan</strong> ( <strong>EQI</strong> <strong>in</strong> <strong>SIWA</strong> )<br />
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Due Week 4 and worth 240 po<strong>in</strong>ts<br />
Note: The assignments are a series of papers that are based on the same case, which is located <strong>in</strong><br />
the Student Center of the course shell. The assignments are dependent upon one another.<br />
In this assignment, you will create a risk management plan. You have a budget of $100,000 and a<br />
timel<strong>in</strong>e of six (6) months for the plan. Please refer to Figure A-1, <strong>Risk</strong> <strong>Management</strong> <strong>Plan</strong><br />
Template, from Appendix A of the Hillson and Simon text to create the plan.<br />
Write an eight to ten (8-10) page <strong>Risk</strong> <strong>Management</strong> <strong>Plan</strong> Component paper <strong>in</strong> which you:<br />
1. Prepare the Scope and Objectives of the <strong>Risk</strong> <strong>Management</strong> Process section of the <strong>Risk</strong><br />
<strong>Management</strong> <strong>Plan</strong> based on the facts presented <strong>in</strong> the case study.<br />
2. Determ<strong>in</strong>e the project size, based on the facts presented <strong>in</strong> the case study, and provide<br />
justification based on Figure 3-4, Example Project Siz<strong>in</strong>g Tool (Chapter 3 of the Hillson<br />
and Simon text).<br />
3. Select the risk tools and techniques, and complete the <strong>Risk</strong> Tools and Techniques section<br />
of the <strong>Risk</strong> <strong>Management</strong> <strong>Plan</strong> for both the qualitative and quantitative aspects of the<br />
project. Provide a rationale for the selection.<br />
4. Develop the <strong>Risk</strong> Reviews and Report<strong>in</strong>g section of the <strong>Risk</strong> <strong>Management</strong> <strong>Plan</strong> based on<br />
the project size previously determ<strong>in</strong>ed.<br />
5. Def<strong>in</strong>e the Probability and Impacts section of the <strong>Risk</strong> <strong>Management</strong> <strong>Plan</strong> and justify the<br />
values assigned.<br />
6. Def<strong>in</strong>e the <strong>Risk</strong> Thresholds section of the <strong>Risk</strong> <strong>Management</strong> <strong>Plan</strong> and justify the values<br />
assigned.<br />
Your assignment must follow these formatt<strong>in</strong>g requirements:
Be typed, double spaced, us<strong>in</strong>g Times New Roman font (size 12), with one-<strong>in</strong>ch marg<strong>in</strong>s<br />
on all sides.<br />
Include a cover page conta<strong>in</strong><strong>in</strong>g the title of the assignment, the studentâ€s name, the<br />
professorâ€s name, the course title, and the date. The cover page and the reference<br />
page are not <strong>in</strong>cluded <strong>in</strong> the required assignment page length.<br />
The specific course learn<strong>in</strong>g outcomes associated with this assignment are:<br />
<br />
<br />
<br />
<br />
<br />
Apply the concepts of risk management <strong>in</strong> a project context to develop an appropriate<br />
risk management plan as a key element of the project management process.<br />
Survey the project sponsor, stakeholders, team membership and key decision <strong>in</strong>fluencers<br />
to develop a qualitative assessment of the project risks and apply the results to further<br />
ref<strong>in</strong>e the project risk management plan.<br />
Create a schedule of project risk reviews appropriate to the organization and risk<br />
<strong>in</strong>clud<strong>in</strong>g major, m<strong>in</strong>or, and post-project threats and opportunities, <strong>in</strong>clud<strong>in</strong>g archiv<strong>in</strong>g<br />
the results of the project risk plan is <strong>in</strong>corporated <strong>in</strong>to this schedule.<br />
Use technology and <strong>in</strong>formation resources to research issues <strong>in</strong> project risk management<br />
Write clearly and concisely about project risk management us<strong>in</strong>g proper writ<strong>in</strong>g<br />
mechanics.