Project Risk Management Plan - 1382 Words

Project Risk Management Plan PM/584 July 14, 2014 Project Risk Management Plan The purpose of the risk management plan is to identify any event or condition that may occur which could have a positive or negative affect on the project. Risks management is the process of identifying, assessing, responding to, monitoring, and reporting risks. The Risks Management Plan will define how risks associated with the Baderman Island Casino Hotel project will be identified, analyzed, and managed. The plan will outline how risks management activities will be performed, recorded, and monitored throughout the project. The plan will also provide a template and practices for recording and prioritizing risks. The risks†¦show more content†¦The Tenney @ Night GM Amberly Wendolski, The Baderman Island Cafà © Perla Musgraves, Mayor of Kelsey Naoma Kinoshita, Sr. Botanist, William C. Martin Botanical Gardens Bao Weyrauch, CPA, Finance Manager, Boardman Management Group Ashly Yeamas, Manager Pepicello Fairways Dagmar Sephus, President Kelsey Ferry Company Cedrick McBroome, Director of Business Development, Patten-Fuller Community Hospital Tony Gonyer, Warden of Kelsey Prison Craig McClary, Ph.D, Principal, Kelsey High School A facilitator was appointed to conduct the brainstorming workshop and to review the procurement. The selected brainstorming team was briefed on the purpose of the workshop and the outcomes that were desired (Cooper, Grey, Raymond, Walker, 2005). Risk were identified in the risk brainstorming workshop, then ranked, and prioritized. Each risk was assessed and given a qualitative and quantitative measurements to determine where they rank in priority, with one being the highest risk and seven being the lowest risk (see appendix B). Project Risks Monitoring: Watch Lists During a construction project such as the Baderman Island Casino-Hotel all risks must be monitored daily to ensure the impact is minimal. To monitor the project risks a watch lists has been developed. TheShow MoreRelatedA Project Risk Management Plan1546 Words   |  7 Pages A risk is an event or condition that, if it occurs, could have a positive or negative effect on a project’s objectives. A project risk is an event which have a positive and negative impact on a project objectives. Risk Management is the process of identifying, assessing, responding to, monitoring, and reporting risks. A Project risk management plan is critical in identifying, monitoring and reporting risks. This Risk Management Plan defines how risks associated with ten story-building projectRead MoreProject Risk Management Plan2746 Words   |  11 Pagesthe project manager successful and effectively manage the Project Integra that will influence the integration between American Bank of Indiana (ABI) and First American Financial Service Group (FAFS). A successful Project Manager must simultaneously manage the four basic elements of a project: resources, time, money, and most important, scope. To excel at this position an individual must have communication and interpersonal skills, attention to detail, and strong analytical skills. The Project ManagerRead MoreAbi Project Risk Management Plan3254 Words   |  14 PagesRunning head: ABI PROJECT RISK MANAGEMENT PLAN ABI Project Risk Management Plan Your Name Here University of Phoenix ABI Project Risk Management Plan The recent acquisition of the ABI company by FAFS mean that ABI needs to change many of their internal processes to coordinate and be accessible by both entities. The union of these banking companies means a merging of databases and software applications. The challenge is to implement the fusion of these companies in a timely cost efficientRead MoreIs3110 Project: Risk Management Plan1805 Words   |  8 PagesIntroduction a. Scope b. Assign to departments c. Risk Matrix d. Risk mitigation plan e. Impact Analysis II. (BIA) f. Departments g. Business Impact h. Costs Analysis III. Recommendations (BIA) i. Business Impact Analysis Results j. Maximum Acceptable Outage IV. (DLIS) Business Continuity Plan a. Purpose b. Scope c. Plan Objectives d. 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Required Source Information and Tools The following tools and resources that will be needed to complete this project: ï‚ § Course textbook ï‚ § Internet access for research ï‚ § Defense Logistics Agency: www.dla.mil Learning ObjectivesRead MoreProject Risk And Risk Management1412 Words   |  6 Pages1- Abstract: Project Risk is an undefined event that, if it occurs, has a positive or negative impact in the project’s results. There are two types of risks can affect the project, they are threats and opportunities. The first affects negatively and the second affects positively. These risks can be individual risks or overall project risk. The project risk management includes six process: 1- Risk Management Planning: Deciding how to plan and execute the activities. 2- Risk Identification: DeterminingRead MoreAnalyze The Concept Of Risk. Risk Is Not A Problem Risk1374 Words   |  6 PagesAnalyze the Concept of Risk Risk is not a problem; risk is an issue that could possibly develop and affect the outcome of a project (Risk Management Plan, 1997). The cost of the project, quality, scope, and schedule could all be affected if a risk surfaces. This does not necessarily mean that the risk is negative; risks can create a positive opportunity (Project Management Institute, 2013). For example the vendor informs us that the specified wood flooring is no longer available; as a result