As a team, develop a risk management plan for the project you have been working in team assignment one. The plan must include the following sections:

1. This assignment is the follow up of your first team assignment, so make a connection.
2. Risk identification, including WBS code, RBS (risk breakdown structure) and a brief description of each failure mode.
3. Qualitative analysis: Briefly describe and rate the risk priority number (RPN) constituents of each of the risks identified.
4. Risk Response Matrix.
5. Failure Response Matrix.

Attention! Minimum 3 internal and 2 external risks must be identified.

Realistically, how is risk management done in organizations? Write a persuasive letter to the Project Sponsor of the organization demonstrating the value of risk management and requesting that the practice be expanded to all projects with cost estimated over $10,000. Format this letter as business correspondence (include letterhead, date, and signature) and write it from your perspective as a Project Manager.

 

Project name : Covid vaccineX

My part is No.3