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BN205 Project Risk Management Plan

   

Added on  2020-03-01

11 Pages1404 Words47 Views
RISK MANAGEMENT PLANStudent Name = Asad UllahStudent Number = mit170394Unit Name = Project ManagementUnit Code = BN205Lecturer =Mr. Darshan Mongia1

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................................3EXECUTIVE SUMMARY.................................................................................................................................4BACKGROUND OF THE CASE STUDY............................................................................................................5RISK MANAGEMENT PLAN...........................................................................................................................6IDENTIFICATION OF RISKS ASSOCIATED WITH THE PROJECT.......................................................................6RISK ANALYSIS.............................................................................................................................................7RISK RESPONSE PLAN FOR IDENTIFIED RISK................................................................................................7MONETORING AND CONTROLLING THE IDENTIFIED RISKS..........................................................................8JUSTIFICATION OF PROPOSED RISK PLAN....................................................................................................9CONCLUSION.............................................................................................................................................10REFERENCES..............................................................................................................................................112

INTRODUCTION Managing risk is one of the most crucial tasks which involves forecasting and evaluating of all the riskfactors which could incur in near future. Evaluating the risk factors is an important aspects attached withany project. Hence, a report is developed which will avail the possible risk factors which could incur inthe project of Office of Information Technology. The report will also include data related with the riskmanagement plan required to be applied in the project. This risk management plan will help inmitigating the risk. Applying the risk management plan will help Office of Information Technology incompleting the project within the required time and budget decided by the company.3

EXECUTIVE SUMMARYRisk management is an activity which helps the organisation making several set of decisions regardingthe future aspects which will indulge in near future. For a project manager or a company planning toinitiate a project one of the most important aspects required to be focused upon is risk management.Forecasting is the most effective way with the effect of which risk factors which could occur in nearfuture could be analysed. After analysing the risk factors company should develop the strategies withthe effect of which these risk factors could get mitigated. Hence, a report is developed in relation withrisk management system which will help Office of Information Technology (OIT) in identifying the riskinvolved in the project. The project will also provide a support system which will help the company inmitigating the future risks. 4

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