Develop a Risk Management Plan

Essay Instructions:

1.Review the risk assessment matrix and executive summary that you produced in the previous module. 2.For each risk event that you identified as warranting a response, decide the following: What your response will be: avoid it, mitigate it, or accept it. Your approach for handling the responses that you will avoid or mitigate. Remember to consider outsourcing possibilities. The consequences for risks that you will accept, if those risks occur, and why you believe those consequences are acceptable. 3.Use the results of the previous steps to create a risk breakdown structure (RBS), risk register, and a risk management plan. Please add a abstract page.

Essay Sample Content Preview:

Risk management plan
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In order to improve the development of New York City streets, several things have to be put into consideration. The project however has to continue and so the probable risks have to be mitigated (Kemshall & Pritchard, 1997). The risks involved as had discussed earlier were the funding and the acceptance by the locals to avoid rejection.
There are possibilities of mitigating the issue of funding by involving the city management as well as the government. The beneficiaries of this project certainly are the residents of the city though visitors will benefit too. Therefore, the city management can come in handy including the government to fund this project to the end (Ronald & Harrison, 1998). In addition, we can source money from financial donors and any other interested parties. On the other hand the team should consider planning a meeting with the residence to sensitize them about this project. Considering the views of the residents and make them accept the project and own the project for it to be...

Updated on January 26, 2024

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Develop a Risk Management Plan

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