the probability impact matrix 2 pages max

Instructions

Written Assignment (Individual)

Individual: The Project Risk Management Plan is an essential component of a master project plan. Write an Executive Summary (narrative) of not more than two (2) pages in length, regarding the importance of project risk management, and the use of the ‘probability/impact analyses’ (tool) in helping to develop the ‘Project Risk Management’ subsidiary plan. Use the ‘Business Memo: An Executive Summary,’ template for the format of this report. It should be written in a narrative form. Include the following sections:

  • Main idea
  • Background
  • Current Facts
  • Impact
  • Action

In this assignment you will articulate a critical understanding on the use of this tool (the ‘Probability and Impact Risk Matrix,’) to facilitate developing a ‘Project Risk Management Subsidiary Plan.’ It will be important to establish in the report (business memo) the concept of risk management, and then discuss the tool. Draw upon your group exercise work to provide context.