Risk Assessment Project

Risk Assessment Project

Risk Assessment Project, WEEK 8 DELIVERABLE This WEEK 8 DELIVERABLE requires you to submit an MS Project file and another (WORD or PDF) file which includes an S-curve (for planned cost), and a high-level risk assessment for the project your team selected. One team member should submit these two files to the team assignment area. Your Microsoft Project file must not undo anything that was part of your first submission (in Session 6) – so it should continue to clearly reflect the structure of your original WBS inverted-tree pictorial, should show all activities under each work package, their duration, and their dependencies (predecessors), clearly show the critical path (or paths) colored in RED, and include the “OWNER” column (which could be modified in case owners were different this time around). APA. 

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Risk Assessment Project

Additionally, your MS Project file should have resources assigned to each activity (with their labor cost rate and the prorated accrual method). These resources and rates should exactly mirror the information in the Activity Resources and Rates table you submitted earlier to the Group discussion area. (You are not required to have fixed costs for activities but you can if you wish to.) Your MS Project file should also display the cost of each activity (based on the activity resource and rate information you provided) – this will be calculated by MS Project, so you will not need to calculate these activity costs yourself. Use MS Project to obtain the time-phased planned cost and use these time-phased numbers to plot your S-curve. (You can use EXCEL or any other software to get your S-curve plot.) Two step-by-step videos are provided in the Session 8 Team Assignment: one that explains the mechanics of project costing and one that explains how to complete the MS Project part of your Week 8 Team Assignment. Finally, your high-level risk assessment (roughly two pages long, double spaced, not including any charts) should:

Risk Assessment Project

1. Identify the top three or four project risks and explain how they might affect project schedule and/or cost.
2. Explain whether modeling (Perform Quantitative Risk Analysis process) will be needed for some of your risks and, if so, why; if not, how did you gauge the effect of those risks?
3. Indicate how you might respond to each risk, why that response is the most appropriate, and argue why the benefits of the response outweigh the costs associated with the response.
4. Briefly explain how you would use #1, 2, and 3 above to present a balanced and well-informed picture of the project schedule and cost at an upcoming meeting with your sponsor and senior executives. Assuming you have only five minutes to make your presentation, think in terms of a few (two to three) charts you could present to capture your story. (You can either include sample charts or briefly describe them.) The better you can anticipate your audience’s questions and even their possible resistance and push back, the better your write-up will be.