Homework: Mitigating Project Risks
Length: 750 to 1,500 words.
You will continue to add to the Project Risk Management Plan document you created. You will update the previous sections and complete the Project Risk Response Strategy section.
A. Update any previous sections as needed
B. Define each of the risk response and implementation strategies for both positive risks (opportunities) and negative risks (threats).
C. Complete the Project Risk Response and Implementation Strategy section. You will develop a risk response template if you are not using the Project Risk Management template that you downloaded in Unit 1. In this section, you will do the following:
• Add the risks you identified, and determine the type of response strategy you will use for each risk.
• Discuss the response strategies for each of the identified risks. Describe the specific method of handling each risk.
o Strategies for positive risks include accept, enhance, exploit, and share.
o Strategies for negative risks include accept, mitigate, avoid, and transfer.
• The following matrix is an example of a risk response table:
o Risk
o Risk Response Strategy
o Description of Risk Response
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.