The Project Risk Management Subsidiary Plan
The purpose of the â€˜Project Risk Management Planâ€™ is to determine and prioritize the potential risks for a project and how to mitigate a negative or a positive impact on a project from an identified risk if it becomes a reality. A risk is something that may happen and if it does, will have a positive or negative impact on the project. That it â€˜mayâ€™ happen implies a probability of less than 100%. If it has a probability of 100%, or it â€˜willâ€™ happen, it is an â€˜issue.â€™ A risk must also have a probability something above 0% and it must have a chance to happen or it is not a risk.
Note: Introduction and Purpose section of the subsidiary must be used to explain, in your words, the purpose of the respective project management subsidiary plan. This will be an opportunity for you to explain your understanding of each of respective knowledge domain.
An â€˜exemplaryâ€™ score (2.25-2.50 points) will reflect a foundational understanding of the knowledge domain and how it integrates with your specific project in the portfolio business case. This must include the exact format requirements, it must follow the instructional guidelines, and it must align with your specific project. Errors with format, or lack of compliance with the requirements, or a mis-aligned with the content of your project will result in a loss of points. An â€˜effectiveâ€™ score (2.00-2.24 points) will reflect a basic understanding of the essential components of the â€˜subsidiary plan.â€™ Errors with format, or lack of compliance with the requirements, or content not related to the specific [project, will result in a loss of points. An â€˜ineffectiveâ€™ score (0-1.99 points) will reflect a subsidiary plan or artifact that is poorly organized and difficult to read, one that takes the words of the resource template and uses them, one that lacks format exactness and does not follow the requirements, and/or is unrelated to your project in the portfolio.
The assignment is to complete the sections of the â€˜The Project Risk Management Plan MSPM1-GC4000 TEMPLATE,â€™ that are highlighted in yellow.