Project Management Assignment | Risk Management
Added on 2020-06-06
7 Pages1273 Words68 Views
Project Management
Table of ContentsINTRODUCTION...........................................................................................................................1PART 2............................................................................................................................................1Developing a Risk management plan..........................................................................................1PART 3............................................................................................................................................2Review of the project management plan and risk management plan..........................................2CONCLUISON ...............................................................................................................................4REFERENCES................................................................................................................................5
INTRODUCTIONProject management is known as a practice of taking initiatives, making plans,implementing strategies and complete the task and projects in given time limit (Oyegoke, 2011).Risk management plan is prepared to identify the associated risk and implanting ideas and plansaccordingly (Sanderson, 2012). To detect the risk factors and making a plan to control the riskare considered as risk management plan. PART 2Developing a Risk management planRisk management plan for wedding function Overall project cost $30000 RiskReference(uniqueidentifiercode)PotentialtreatmentoptionsPersonresponsible formonitoring theriskCost toimplement risktreatmentTimeframe toimplementtreatmentMonitors tomeasure theeffectivenessof the risktreatmentsTreatment ofRiskComplete Yes orNoVenueThe venueshave indooroptionsBadweather$300012 MonthsWhether the budget is sufficient to the risk assessmentYesAccommodation forguests Book a venuefor stayingguestGuest’ssafety$300012 MonthsBad weatherYesFull-servicecateringHiring of security guardWeddinggift risks$160009 Months Guest’s safetyYesInvitationdesignPlacing the gifttable far from an exit Poweroutage$5006 monthsWedding giftrisksYesDress andsuit Proper quality check of powercheck Moregueststhanexpected$6504 monthsPower outageYesAccommodAnalysing the Missing$18006 weeksMore guestsYes1
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