RISK MANAGEMENT PLAN.PROJECT A+ Grade Guaranteed

INTRODUCTION 1.1 PURPOSE OF THE RISK MANAGEMENT PLAN The risk management plan is a primary tool for implementing the organization’s overall risk management program. A risk is an event or condition that, if it occurs, could have a positive or negative effect on a project’s objectives. Risk Management is the process of identifying, assessing, responding to, monitoring, and reporting risks. This Risk Management Plan defines how risks associated with the project will be identified, analyzed, and managed. It outlines how risk management activities will be performed, recorded, and monitored throughout the lifecycle of the project and provides templates and practices for recording and prioritizing risks. It is designed to provide guidance and structure for the organization’s clinical and business services that drive quality patient care while fostering a safe environment. The Risk Management Plan is created by the project manager in the Planning Phase of the CDC Unified Process and is monitored and updated throughout the project. The intended audience of this document is the project team, project sponsor and management. The focus of the risk management plan is to provide an ongoing, comprehensive, and systematic approach to reducing risk exposures. Risk management activities include identifying, investigating, analyzing, and evaluating risks, followed by selecting and implementing the most appropriate methods for correcting, reducing, managing, transferring and/or eliminating them 2 RISK MANAGEMENT PROCEDURE PROCESS The project manager working with the project team and project sponsors will ensure that risks are actively identified, analyzed, and managed throughout the life of the project. Risks will be identified as early as possible in the project so as to minimize their impact. The steps for accomplishing this are outlined in the following sections. The project manager or other designer will serve as the Risk This study source was downloaded by from CourseH on :21:37 GMT -06:00 Manager for this project. In this RISK MANAGEMENT PROCEDURE we have five major factors i.e., 1.RISK IDENTIFICATION 2.RISK ANALYSIS / ASSESMENT i.Qualitative Risk analysis. ii.Quantitative Risk analysis. 3.RISK RESPONSE PLANNING 4.RISK MONITORING,CONTROLLING & REPORTING 2.1 RISK IDENTIFICATION Risk identification will involve the project team, appropriate stakeholders, and will include an evaluation of environmental factors, organizational culture and the project management plan including the project scope. Careful attention will be given to the project deliverables, assumptions, constraints, WBS, cost/effort estimates, resource plan, and other key project documents. A Risk Management Log will be generated and updated as needed and will be stored electronically in the project library located at file location. 2.2 RISK ANALYSIS All risks identified will be assessed