Risk Management Plan For An Information System Upgrade

The purpose of this document is to describe a risk management plan for an information system upgrade. This document outlines the processes that will be used in the identification, recording, discussion, and response to risks as well as the roles of the project team. Inadequate attention to risk brings about cost overruns, inadequate technical performance and schedule delays. The project risk plan will record the team’s decisions on risk management to establish a clear standard way for the actions to be taken. Moreover, the plan will be utilized throughout the project life. Risks are the potential events that may occur in the course of a project, and if they occur would adversely affect the project scope, schedule, quality and/or resources. Further, when risks occur they bring with them consequences. Conversely, risk management is the process with which risk management planning, identification, analysis, response and control is done on a project to mitigate its effects. The goa l and objective of risk management is to reduce the chances and effects of adverse events to the project objectives. The project manager will be responsible in the creation and maintenance of this project risk management plan throughout the project to maintain the appropriate levels of risk to meet the project’s objectives. And as such the project team members who may have questions regarding the document may consult the risk management officer. The project director will be tasked with reviewing andShow MoreRelatedProject Charter Essay1695 Words   |  7 PagesInfrastructure Upgrade | Project Number | 001 | Project Manager | Tiffany Santiago | Prioritization | | Owner(s) | Dan Black, CEO | Start Date: | 03/06/2013 | Scheduled Completion Date: | 04/25/2013 | Mission/ purpose | What is your project going to accomplish? The Project will accomplish an immediate need to develop and implement an Enterprise Information system upgrade. 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