Instructions
Written Assignment (Individual)
Individual: The Project Risk Management Plan is an essential component of the master project plan. Write an Executive Summary (narrative) of not more than two (2) pages in length, regarding the importance of the process of the probability/impact analysis of risk. Use the Business Memo: An Executive Summary, template for your format; and in a narrative form, discuss the following:
Main idea
Background ( )
Current Facts
Impact
Action
In this assignment you will be articulate a critical understanding on the use of this tool (the Probability and Impact Risk Matrix,) to facilitate developing a Project Risk Management Plan. Discuss the components as you understand them.
Each written assignment will be reviewed for accuracy, relevance, and its relationship to the lecture, the discussion, the group exercise, assigned readings, and any of the associated resources on the course homepage.
An exemplary score (9 to 10 of 10 points) will reflect a foundational understanding of the practice area and its integrated relationship to a project and its framework; it should have the focus of a manager. An effective score (7 to 8 of 10 points) will reflect an understanding of the essential components of the Risk Management Plan, and how it is compiled and used.
Template to follow :
A Business Memo: Executive Summary
Principles of Project Management
Basic Format
Organization is crucial to any type of correspondence. Placing thoughts and ideas into a structured format represents an effective way of organizing written communications. The basic format that follows anticipates the needs of busy people who wish to quickly and clearly understand what they are reading. It can also be viewed as planned responses to a readers typical questions listed below each section.
Main Idea: Communicate your message in a nutshell, (briefly.) Present the one thought you want the reader to understand.
Why should I read this now?
What is your point?
Background: Provide additional information to help the reader understand the main idea. The need for this section depends on the readers knowledge of the subject and level of technical expertise.
What is the background of this issue or initiative?
Why is it important?
Current Facts: Support the main idea with facts about what has happened in the past, is happening now, or is needed.
What is happening right now with respect to the project?
What are the details of your analysis or recommendation?
Impact: Present your opinions about the importance of the issue and explain the urgency of acting on it. Then develop the benefits of your recommendation, analysis, or proposal.
What are your opinions about this issue?
What is the potential impact on others?
Whats in it for me? (W.I.I.F.M.?)
Action: Tell the reader what action needs to be taken, who needs to do it, when it needs to get done, and why the time frame is important.
Who needs to do whatand when?
Is there a specific deadline?
Why is it important to act by the deadline?
Last Completed Projects
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