302.03 Lab
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302.03 – Risk Management Planning
Project Risk Management is an ongoing element to nearly all projects. Planning and
dealing with risks throughout the lifecycle of a project will dictate whether a project ends in
a success or failure. This lab will introduce you to a small project which you will need to
identify and plan for a variety of potential risks.
Purpose
The purpose of this activity is for you to evaluate the current situation with an IT project,
identify possible risks, categorize those risks, and create risk mitigation strategies.
Objectives
The purpose of this lab is to develop a risk management plan for an IT project. More
specifically, the goal of this activity is to:



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Identify possible risks for a given IT project scenario
Identify the probability and impact of identified risks
Develop countermeasure or mitigation strategies for the identified risks
Describe your risk management plan for continual monitoring, tracking, and
mitigation for the given IT project scenario
Assignment
This lab is designed for you to demonstrate your ability to identify and mitigate risks
associated with an IT project. For this lab, pretend that you have been hired as a risk
management expert for identifying and developing risk management plans. You have been
tasked to develop a risk management plan for a band who wishes to have a live web cast
of one of their upcoming concerts. You are to assume that all of the technology and
equipment required to run such an event is already in place.
Directions
What you need to do is identify the risks or possible points of failure that would prevent the
live web cast from occurring. As part of your plan you are to do the following:

Identify, at a minimum, 10 risks that may prevent the live web cast from working as
planned
 Determine the probability and impact of each of the risks occurring and the impact
the risks will have on the project
 List countermeasures for overcoming each of the identified risks
 List a person or job title responsible for the chosen countermeasure you plan to
implement (Need to implement at a minimum 3)
 Reassess the probability and impact ratings for each of the risks after suggesting a
countermeasure
In addition to creating this plan, you must describe the process you followed to develop
your plan. Finally, since the need to manage risk does not end once you reach the
execution phase, it is important to understand how you intend to manage and mitigate risk
throughout the life of a project, in this case the actual event or future events. The final
task that needs to be completed for this assignment is to explain how you plan to
continually identify and manage risks throughout the life of the project or event and future
events.
302.03 Lab
© Copyright 2004 School of Information Sciences and Technology, Solutions Institute
302.03 Lab
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Once you complete the activity, upload your assignment to the appropriate drop box in
ANGEL and name your assignment appropriately according to the naming conventions
required by your instructor.
Resources
To complete this activity, you may wish to reference the following resources:
 Online Content and/or required course text dealing with project scoping
 Microsoft Project 2002: Step by Step text
302.03 Lab
© Copyright 2004 School of Information Sciences and Technology, Solutions Institute
302.03 Lab
Page. 3
Grading Rubric
Checklist
Identified at least 10 risks associated
with completing the project scenario
Documented and listed the probability
and impact ratings for each of the
identified risks
Listed countermeasures for overcoming
each of the identified risks.
Listed a person or job title responsible
for the chosen countermeasure you plan
to implement (Need to implement at a
minimum 3)
Reassessed the probability and impact
ratings for each of the risks after
suggesting a countermeasure
Described the process of how you
determined the project risks and
developed countermeasures
Describe a methodology for how you
would plan to continually identify and
manage risks throughout the life of the
project
Submitted following the guidelines listed
in the submission procedures portion of
this document
Total
Possible Points
3 pts
Points Scored
3 pts
3 pts
2 pts
2 pts
5 pts
5 pts
2 pts
25 pts
Comments:
302.03 Lab
© Copyright 2004 School of Information Sciences and Technology, Solutions Institute