750 – 1500 words
You will continue to add to the Project Risk Management Plan document you created in Unit 1 and revised in Unit 2. This week, you will update the previous sections based on instructor feedback and complete the Project Risk Response Strategy section.
- Update any previous sections as needed based on instructor feedback or a review of the project information.
- Define each of the risk response strategies for both positive risks (opportunities) and negative risks (threats).
- Complete the Project Risk Response Strategy section. You will develop a risk response template if you are not using the Project Risk Management template that you downloaded in Unit 1. In this section, you will do the following:
- Add the risks you identified in Unit 2, and determine the type of response strategy you will use for each risk.
- Discuss the response strategies for each of the identified risks. Describe the specific method of handling each risk.
- Strategies for positive risks include accept, enhance, exploit, and share.
- Strategies for negative risks include accept, mitigate, avoid, and transfer.
- The following matrix is an example of a risk response table:
|Risk||Risk Response Strategy||Description of Risk Response|
- Update the References page and the Table of Contents to show the correct page numbers.
- Note: Be sure to include the pages with only section headings that will be completed in later units.