Homework: Risk Assessment
In this homework, you are required to complete sections 2 and 3 of the project plan. Refer to your unit lesson (from this unit and last unit) and required unit resources to advance your project plan. Create the sections listed below.
Risk Assessment: Include evidence of the risk assessment. The section is divided into subsections on identification of risks, analysis (assessment of risk probability and consequences), and mitigation strategies.
a) Risk Identification: Describe all relevant risk variables for the project, including a brief description of the risk variable and the ways in which it is likely to affect the project.
b) Assessment of Probability and Consequence (Qualitative): Include a qualitative risk assessment matrix in this space. Give evidence of how you arrived at this assessment.
c) Assessment of Probability and Consequence (Quantitative): Include a quantitative assessment of probability and consequences, clearly identifying the criteria used for determining both probability of failure and consequence of failure.
d) Mitigation Strategies: Identify individual mitigation strategies for each high-priority risk factor. Briefly specify actions to be taken in order to accomplish the strategy.
Quality Management Report: In this section, be sure to define what quality means for your project from both a product and process standpoint. Include your project quality standards and expectations both internally and for the customer, the metrics and measures for success, and critical success factors. How will you monitor quality throughout the project? Who will be responsible?
Format your homework according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.