Develop and provide support for the acceptable level of risk that your project is willing to absorb.

In your Risk Management Plan (RMP), include the following:

  1. Risk analysis: Develop and provide support for the acceptable level of risk that your project is willing to absorb.
  2. Risk identification: Identify the project team members and stakeholders that are involved in the decision process and why each decision maker is critical to the process.
  3. Probability of Risk: Review the RAID log created in Topic 4. Rank each risk in one of three rankings: high, medium, or low, for both impact to the project if the risk is realized and the probability of the risk being realized during the project. Using this information, create a probability matrix to depict the different levels of risk and fill it out during the final step of this assignment.
  4. Risk response planning: Create a contingency or mitigation plan depending upon the risk levels identified. Any risks ranked as “medium” or “high” that lack a risk management plan will require justification as to why no plan is needed.
  5. document should be submited as follows
  6. one Word document for this assignment:
    1. RMP
    2. Embed or insert the updated RAID log for the project as an appendix to the RMP
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