In previous weeks, you selected a project around which to develop your Risk Management Strategy and Plan Key Assignment. In Week 1, you crafted a letter to the project sponsor explaining the importance of project risk management. You also determined the high-level steps for conducting risk assessment and brainstormed on some of the risk categories. In Week 2, you fully identified the individual project risks and analyzed them by determining their likelihood and impact. In Week 3, you determined the mitigation strategies, which might include prevention, control, or ignoring the risk. In Week 4, you developed a project risks matrix with all of the information that you gathered in Weeks 2 and 3, and you developed a risk monitoring and control approach and plan.
Now you are ready to embark on adding all of the risk management tasks to the overall project plan, as well as producing a well-thought-out communications plan. In the final week, you will also revise the Key Assignment draft document based on feedback from your instructor and peers. Under the last sections, which are not filled in, you will develop a very detailed WBS, contingency budget, and communications plan.
The overall project deliverables are the following: