Project Risk Management Plan and Scope Statement

This assignment combines the concepts covered in the first half of the course. Students have an opportunity to demonstrate their learnings from assignments, course material, quizzes and workshop activities. Describe your project's custom boundaries and then define the risk context. Next, integrate and tailor how the project team will conduct risk identification, problem-solving, and risk analysis for the project. Using the assignment requirements as a guide, complete the Scope Statement (outline provided) and fill in your project's details. Then create a Risk Management Plan and Risk Register. Complete this assignment individually. Do not include these instructions with your work. An optional outline is available to help you get started. Late Assignments: 10% of the total grade deducted for each day the assignment is late to a maximum of 3 days. Exceptions are available with advanced discussion with your Instructor. Total Points: 10 Percentage: 20% Instructions and Requirements

1. Complete this assignment using Microsoft Word, do not convert to PDF. Include the scope statement, risk management plan and risk register in one document.
2.  You have started a new business that will be selling Magic Potions to the general public. You have secured a small pop-up booth at your local mall to test things out. Your wizard costume has been dry-cleaned, the magic potions have been made, and you have tested out the POS (“point-of-sale”) equipment from Square. The event is the grand opening set for Dec 1, 2021. You will be running a 20% off sale on all inventory and distributing free stickers to the kids during this event.

3. Complete the scope statement based on your event (see below template)

4. Complete a basic Risk Management Plan for this project. Begin each section with a short explanation of the purpose it serves. Sections to include: a. Purpose of the risk management plan b. Define Project Priorities (this develops context, see Larson section 4.2 Establishing Project Priorities)

c. Identify 1 risk identification method the project will use (and why)

d. Create an RBS (minimum of 4 categories)

e. Create an impact table. Minimum of a 1 to 3 scale for impact and measures for cost and time.

f. Create a heat map. At a minimum, it should contain: i. Threats and opportunities ii. Short explanations for each probability and severity level.

g. Create a template risk register, must include risk statement, category, analysis (use best practices)

i. Create 2 sample risks related to the project, fill in all fields, provide a brief explanation on the reasoning behind the risk categorization and analysis.

5. Title page, table of contents and references (all sources and citing where appropriate). Spelling and grammar check. Do not change project management terms (i.e. risk). Final format check, make this look professional.