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BN205 Project Management - Assignment

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Melbourne Institute of Technology

   

Project Management (BN205)

   

Added on  2020-03-02

About This Document

BN205 - Risk management plan is the document prepared to show the approaches which are required to be taken to avoid the change in any of the three constraints of project management triangle. In this report we shall go through a case study ‘OIT (Office of Information Technology)’ to make understand better on the different phases of developing the risk management plan.

BN205 Project Management - Assignment

   

Melbourne Institute of Technology

   

Project Management (BN205)

   Added on 2020-03-02

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BN205 Project ManagementRisk Management Plan Lecturer: Mr. Darshan Mongia
BN205 Project Management - Assignment_1
BN205 Project Management(Risk Management Plan)Table of ContentsExecutive summary.....................................................................................................................................2Introduction of Risk Management Plan.......................................................................................................2Background of Case Study Project...............................................................................................................2Risk Management Plan of Case Study project.............................................................................................2Identification of Risk in Case Study project.................................................................................................3Risk Analysis of Case Study project..............................................................................................................3Risk Response plan for Case Study project..................................................................................................4Monitor and Control Risks identified in Case Study project........................................................................4Justification.................................................................................................................................................4Conclusion...................................................................................................................................................5References...................................................................................................................................................5Page 1
BN205 Project Management - Assignment_2
BN205 Project Management(Risk Management Plan)Executive summaryRisk management plan is the document prepared to show the approaches which are required to betaken to avoid the change in any of the three constraints of project management triangle. In this reportwe shall go through a case study ‘OIT (Office of Information Technology)’ to make understand better onthe different phases of developing the risk management plan.Introduction of Risk Management PlanIt is also sometimes known as risk mitigation plan[ CITATION MyM10 \l 1033 ]1. It is an official documentwhich is developed to provide the knowledge of tackling any identified risks or opportunities and eventhe risks which are not yet identified. This document covers all the processes of risk management, likeidentification, analysis and mitigation plans.Background of Case Study ProjectSFSU (Silicon Forest State University) has various divisions, among all OIT looks about the Informationinnovation frameworks. At present, SFSU was confronting the issue in dealing with the best possibletrack of their ticketing framework which is being utilized to impart and keep track in regards to theissues which are confronted on regular schedule. So they chose to scrap is old programming and designthe better one which is as of now introduce in the framework yet in not very many offices as it were. Sofor the above examined work Ron Bashley was chosen as the group pioneer and Harry Bonnett alongsideBob Biyon should bolster him. Risk Management Plan of Case Study projectThis document helps to prepare the team on the approach they should take to manage the risk so thatthe impact can be eliminated or minimized[ CITATION Pal17 \l 1033 ]2. The plan in this document isrequired to be developed separately for different types of projects[ CITATION Pro172 \l 1033 ]3. But acommon process or approach is there which we need to follow as per the project managementtechniques. The common steps of assessing a risk is first we need to identify the risk and document it inthe risk register with all possible details. Next step in the developing management plan is the analysis ofthe identified risks by assigning the rating to it as per its likelihood to happen and its impact. Thisdiagram shall be developed during the phase to rank the risks in the order of high, medium and lowintensity to plan for their mitigation. Again the mitigation can be of many types, either we accept therisk or minimize its impact either by sharing with third party or reducing by some other means.Page 2
BN205 Project Management - Assignment_3

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