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