PROJ 420 Entire Course (Project Risk Management)
For this course, you will complete several weekly assignments and compile a Course Project paper. This paper involves the development of a risk management plan, commonly called an RMP, throughout the course.
While the weekly assignments are the basis for what you will be doing for the RMP, they are not the RMP itself. Your weekly assignments will assist you in the development of an RMP by completing some of the essential parts of the final paper. These various sections, which will follow your weekly assignments, have been developed according to the Deliverables schedule below.
Remember that your weekly assignments are built around the project that you will choose during Week 1.
The assignments for Weeks 1–6 are the basis of your project; the final paper, however, which is due in Week 7, will be built following the template on page 209 in Appendix A within the Practical Project Risk Management: The ATOM Methodology text. In addition, your final paper will focus on the top 20 risks you have identified.
Refer to the Deliverables section below for a comprehensive outline and schedule for your Course Project. Also see the Syllabus section ”Due Dates for Assignments & Exams” for due date information.
PROJ 420 Week 1: Selecting a Project
During Week 1, you will select a project for your risk management plan Course Project. The project can be one that you are working on as part of your regular job, a case study you have completed in the past, or a project that you want to plan, either business or personal. You will choose your project so that you will be very familiar with it and understand its various elements. The project request will be submitted as a graded assignment.
To select your project, submit a description of it using the Week 1 Course Project Proposal & Outline Template (PROJ420_W1_ProposalAndOutline.docx) in Doc Sharing.
PROJ 420 Week 2: Project Sizing and Stakeholder Analysis
Your Course Project milestone for Week 2 will be to develop your project sizing and stakeholder analysis.
To do this, use the Week 2 Course Project Assignment Template (PROJ420_W2_AssignmentTemplate.docx) in Doc Sharing.
PROJ 420 Week 3 Quiz
PROJ 420 Week 3: Project Risk Breakdown Structure
For your third Course Project milestone, develop a risk breakdown structure.
To do this, use the Week 3 Course Project Assignment Template (PROJ420_W3_AssignmentTemplate.docx) in Doc Sharing.
In order to keep the RBS manageable, identify 10 risks from your project to be included in your RBS.
PROJ 420 Week 4: Probability-Impact Matrix
This week for your Course Project milestone, submit a Probability-Impact Matrix for the project you selected based on the top 10 risks you identified in your RBS in Week 3.
To do this, use the Week 4 Course Project Assignment Template (PROJ420_W4_PIMatrixTemplate.xlsx) in Doc Sharing.
PROJ 420 Week 5: Risk Register
Develop and submit a risk register based on the 10 risks you have assessed within the project you selected. Your register should have four sections.
Project title Risk description Impact and probability rating Planned response
Note that there is no template for this week’s assignment.
PROJ 420 Week 6 Quiz
PROJ 420 Week 6: Summary Risk Report
This week, you are to develop a summary risk report based on the project you have selected and have been assessing.
Refer to Figure B-12 in Appendix B on page 233 in your Practical Project Risk Management: The ATOM Methodology text. The report is a summary, so please keep your assignment in that format. Five pages is the suggested maximum length.
PROJ 420 Week 7: Course Project Final Paper (The RMP)
Your final paper for the Course Project (the RMP) is due in Week 7
PROJ 420 (Project Risk Management) Final Exam Answers
(TCO 1) Project risk has its origins in (Points : 5)
(TCO 2) The identification process produces (Points : 5)
(TCO 3) The outputs of the identification step include (Points : 5)
(TCO 4) Risk assessment involves two basic functions: (Points : 5)
. (TCO 5) Secondary risk is caused by (Points : 5)
(TCO 6) The reporting step is designed to fulfill the function of (Points : 5)
(TCO 7) Minor risk reviews can occur (Points : 5)
(TCO 8) Requested changes to the risk plan should be submitted through the (Points : 5)
(TCO 1) Structured project risk management is (Points : 5)
(TCO 2) Once we identify the risks, we look to see if (Points : 5)
(TCO 3) A standard risk checklist includes (Points : 5)
(TCO 4) The first document produced at the end of the Assessment step is (Points : 5)
(TCO 5) The key to carrying out the implementation plan is (Points : 5)
(TCO 6) The risk interview will (Points : 5
(TCO 7) The implementation plan actions include (Points : 5)
(TCO 8) One of the reasons a post-project review is not done is (Points : 5)
(TCO 1) If we do not manage risk we will have to resort to (Points : 5)
(TCO 3) The real problem of not identifying a task in the WBS is (Points : 5)
(TCO 5) The major review is scheduled for (Points : 5)
(TCO 2) Risk management planning outputs include (Points : 5)
(TCO 2) Who would be considered stakeholders? What characteristics would they have?(Points : 15)
(TCO 4) What are the three heuristics that are used in the case of uncertainty?(Points : 15)
(TCO 7) Once an active risk is encountered and the risk register action is taken, what can develop from that action?(Points : 15)
(TCO 8) The focus of the post project review is to take advantage of what?(Points : 15)
(TCO 1) There are four critical success factors for effective risk management. List them and provide a detailed description of each. (Points : 30)
(TCO 2) This is a two-part question. The WBS is considered a critical tool for the project and for risk management. (1) Discuss why it is critical, and what it is not designed to do; and (2) discuss why it is important to identify all of the tasks in building the WBS.(Points : 30)
(TCO 5) Identify the responses to (1) threats, (2) opportunities, and (3) both threats and opportunities; briefly explain each.(Points : 30)