Risk Management Plan

For the final phase of your project, you are going to create a risk management plan, a stakeholder engagement plan, and a procurement management plan for your project. Your document should include the following. Please submit everything in ONE document.

o Risk management plan
 Identify 3 potential risks (positive or negative) that could impact your project.
 What is the planned response for the risk?
 Identify who will be the owner of the risk and why.
 What is the strategy of the risk? In this week’s lecture, there is a discussion of risk strategies for positive risks (opportunities) and negative risks (threats).
 Identify the planned response for the risk. Please be clear and concise with your response.
 You and add the information into a table like the following:
Risk Risk Owner Risk Strategy Risk Response


o Procurement management plan
 Identify 3 resources (people or human) that you will need to procure for your project.
 Who is the potential vendor you will work with?
 What is the estimated cost of the resource?
 What is the estimated delivery date for the resource? Use your project schedule to determine this.
 What will happen if the delivery date is missed?
 How will you determine if the resource meets quality standards?
 Present your information in the following table:
Items to Procure Vendor Estimated Cost Estimated Delivery Date Impacts of Late Delivery Quality Measures


o Stakeholder engagement plan
 Design a stakeholder engagement plan for your project.
 Identify the stakeholders for your project.
 What is their title?
 What role (i.e. sponsor, customer, etc.) will they play in the project?
 What are the requirements for each stakeholder?
 What are their concerns that you will need to address?
 What is the level of involvement required from each stakeholder?
 What is the level of communication (i.e. How often will you communicate with them? How will you communicate with them? Meetings, status updates, etc.)
 Be sure to add the level of involvement you require from each stakeholder.
 You can present your information in the following table:
Stakeholder Name Title Role Requirements Concerns Level of Involvement Level of Communication