Managing Project Risk Unit 2

Assignment Details

You are a project manager for an urgent and complex project. This project is triggered by unfavorable compliance findings and requires significant changes in technology, specifically in the tracking system and Web-based, order-processing system.

You are facing a very tight schedule and must complete the project in only 3 months. This type of work typically requires at least 6 months to complete. Because of that, the company hired offshore developers and technology testers. Your department nearly exhausted the budget for this fiscal year, and funding will be challenging. Nevertheless, the company must complete the project because compliance penalties can be severe. The project will have additional challenges, such as lack of highly skilled resources because the lead technology expert was diagnosed positive for COVID-19, and in-person meetings and collaboration is not recommended.

PLEASE SEE ATTACHED TEMPLATE

Submitting your assignment in APA format means, at a minimum, you will need the following:

• Title page: Remember the running head. The title should be in all capitals.
• Length: 5 pages minimum
• Abstract: This is a summary of your paper, not an introduction. Begin writing in third person.
• Body: This begins on the page following the title page and abstract page and must be double-spaced (be careful not to triple- or quadruple-space between paragraphs). The typeface should be 12-pt. Times Roman or 12-pt. Courier in regular black type. Do not use color, bold type, or italics, except as required for APA-level headings and references. The deliverable length of the body of your paper for this assignment is 5 pages. In-body academic citations to support your decisions and analysis are required. A variety of academic sources is encouraged.
• Reference page: References that align with your in-body academic sources are listed on the final page of your paper. The references must be in APA format using appropriate spacing, hanging indent, italics, and uppercase and lowercase usage as appropriate for the type of resource used. Remember, the Reference page is not a bibliography but a further listing of the abbreviated in-body citations used in the paper. Every referenced item must have a corresponding in-body citation.

Your manager asked you to create a report exclusively focused on the risk management side of the project. You need to identify and analyze all negative and positive risks associated with this project. You will need to provide detailed explanations of key concepts, classifications, and tools used for this effort. The company hired a consultant who provided a template with explanations and key tools to be used for completion of this report.

Use the template provided to complete a 5-page report (excluding the cover page). NOTE: Please delete all instructions and examples before submitting your work.

The following list of topics provides more details about what you need to include in your report:

• Discuss 5 risk identification techniques, and select 1 you will use to identify risks in your project.
• Identify 15 risks (negative and positive).
• Sort the identified risks into common categories, and create a risk breakdown structure.
• Compare and contrast characteristics of the qualitative and quantitative risk analysis.
• Perform qualitative risk analysis for the previously identified 15 risks.
• Create an impact and probability matrix.