Project plans outline the intended course of events; however, things don’t always happen as intended. Organizations must consider risks and develop a contingency plan. This plan is typically presented to management.
Based on your prior research, identify potential risk factors for not meeting each of the project objectives. Risk mitigation is the process of understanding certain risks and threats, accepting that they exist, and taking the appropriate measures to reduce their effects in case they happen.
Develop a contingency plan for the potential risks for your project.
Create a 10- to 12-slide presentation with detailed speaker notes and visuals in which you:
- Identify the organization’s information presented in Week 1.
- Explain how the SWOT analysis and market trend research relate to how you determined the project you selected.
- Explain how the project objectives will advance the organizational goals.
- Assess how success will be measured, including project metrics, timelines, and responsible parties.
- Evaluate the value this project will bring to the organization.
- List each of the potential risk factors along with the immediate risk mitigation plan.
- Develop a contingency plan for each of the potential risk factors for not meeting each of the project objectives.