RM Plan 1: Identifying Risks and Opportunities for a Start-Up Business Project

RM Plan 1: Identifying Risks and Opportunities
Come up with a topic for your RM Plan, with sufficient complexity where risks can be developed. These might be technical, financial, resources, etc. Also come up with a scenario, for example, you may select starting a business of your interest. The scenario might be to turn a profit within 1 year.
Based on your selected project you will write a plan that will describe how you will approach the process of identifying the risks and opportunities that face your project.  This plan needs to include the following information:
1.  Project overview that describes the following:
* Overall goals of the project
* High level assumptions for the project
* Analysis of the organizational environment
* Identification of the project stakeholders and their role in the project
* Overall risk tolerance of the stakeholders
* Success criteria for the project
* Estimated duration of the project with start and end dates
2.  Describe the approach you will take for risk identification.
* Provide detailed rationale that demonstrates an in-depth knowledge of the approach you have chosen.
3. Identify the inputs you will use for the risk identification process.
* Provide detailed rationale that demonstrates an in-depth knowledge of each of the inputs you have chosen.
4.  Identify the tools and techniques that you will use for risk identification.
* Provide detailed rationale that demonstrates an in-depth knowledge of each of the tools and techniques you have chosen.
5.  Identify the output you will use to record and analyze the project risks.
* Provide detailed rationale that demonstrates an in-depth knowledge of the output you will use to record and analyze the project risks.
Use the RM Plan 1 template found under the Template heading under Resources.  Also refer to the RM Plan 1 rubric for guidance.
Complete the “Identify Risks” tab of the risk register and post as a second document for review along with the RM Plan 1.
Incorporate relevant literature from both the course textbooks and at least two outside sources and cite using appropriate APA writing style.
All elements of the process 11.2 Identify Risks should be considered (PMI, 2013) (SLO 1-2). (12% of course grade)
TEXTS:
1. American Psychological Association. (2020). Publication manual of the American Psychological Association (7th ed.).Author
ISBN 13: 9781433832161
2. Pritchard, C. (2015). Risk Management: concepts and guidance. Taylor & Francis Group.
ISBN: 978-1-4822-5845-5
3. Project Management Institute (PMI). (2019). The Standard for Risk Management in Portfolios, Programs and Projects.Author.
ISBN: 978-1-62825-565-2
4. Project Management Institute.  (2021). PMBOK guide: The standard for project management and a guide to the project management body of knowledge (7th Ed.). Author
ISBN-13: 978-1628256642
See attached for the RM Plan 1 template and an example.

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