Assignment Details

You are a project manager for a compliance-driven, complex project. You just completed risk identification and risk analysis of 15 key risks that could affect your project (Unit 2 IP). Your manager reviewed your report and asked you to create another report to address the other two phases of risk management life cycle, as follows:

Selecting appropriate risk response strategies
Risk monitoring and control
You will use previously identified and analyzed risks. You need to recommend approaches to reduce or eliminate the impact or probability of these risks for negative risks. You will also use the identified approaches to recommend approaches to increase chances of a risk event happening for positive risks.

You will need to provide the following for this report:

Detailed explanations of key concepts
Techniques used for this effort
The company hired a consultant who provided a template with explanations and key tools to be used for completion of this report. Use the template provided to complete a 5-page report (excluding the cover page). NOTE: Please delete all instructions and examples before submitting your work.

The following sections must be included in the report:

Roles and responsibilities
Risk tolerance
Risk considerations according to priority
Risk response strategies for negative risks
Risk response strategies for positive risks
Risk monitoring and control

Submitting your assignment in APA format means, at a minimum, you will need the following:

Title page: Remember the running head. The title should be in all capitals.
Length: 5 pages minimum
Abstract: This is a summary of your paper, not an introduction. Begin writing in third person.
Body: This begins on the page following the title page and abstract page and must be double-spaced (be careful not to triple- or quadruple-space between paragraphs). The typeface should be 12-pt. Times Roman or 12-pt. Courier in regular black type. Do not use color, bold type, or italics, except as required for APA-level headings and references. The deliverable length of the body of your paper for this assignment is 5 pages. In-body academic citations to support your decisions and analysis are required. A variety of academic sources is encouraged.
Reference page: References that align with your in-body academic sources are listed on the final page of your paper. The references must be in APA format using appropriate spacing, hanging indent, italics, and uppercase and lowercase usage as appropriate for the type of resource used. Remember, the Reference page is not a bibliography but a further listing of the abbreviated in-body citations used in the paper. Every referenced item must have a corresponding in-body citation.


Specifications of the project

You’re in charge of a complex, compliance-driven project. You’ve just finished identifying and analyzing 15 key risks that could affect your project (Unit 2 IP). Your boss looked over your report and asked you to write a new one that addressed the other two phases of the risk management life cycle:

Choosing the best risk response strategies

Controlling and monitoring risks

You’ll use risks that have already been identified and analyzed. For negative risks, you must recommend approaches to reduce or eliminate the impact or probability of these risks. You’ll also use the methods you’ve identified to suggest ways to increase the likelihood of a risk event occurring in the case of positive risks.

For this report, you will need to provide the following information: