Rasmussen College Cosmos Inc Risk Management Plan

Using the PMBOK Guide and a provided template, develop a risk management plan for a given scenario or a real-world project.

Based on the analysis completed by a task force at Cosmo, Inc., the marketing department must develop, implement, and test a new marketing campaign focused on maintaining current customer levels and increasing their customer base through the utilization of new technology. Refer to the Cosmo, Inc. Case Study [DOC] document for more information.

Develop a risk management plan for your project. Use the Risk Management Plan Template and the PMBOK® Guide to complete this assessment:

1. Analyze the project introduction and project risk principles.
2. Identify project risks (both positive and negative).
3. Create a Risk Matrix Legend.
   • Probability Level / Criteria / Color Code.
   • Impact Level / Criteria / Color Code.
4. Create your Project Risk Matrix. Identify a minimum of 10 potential risks (positive or negative). For each risk:
   • Describe the risk.
   • Identify the probability rating.
   • Identify the impact of the risk to the project.
   • Identify response or solution for the risk.
   • Explain the action plan for the response or solution to the risk.
   • Identify the responsible person for each action.
   • Identify the status of each action.
5. Create your Risk Monitoring and Control Strategy:
   • Define the Review and Action Plan for identified and unidentified risks.
   • Establish a Review process.
   • Establish a Reporting process.