Project Risk Management Plan
Project Risk Management Plan
PM/584
July 14, 2014
Project Risk Management Plan
The purpose of the risk management plan is to identify any event or condition that may occur which could have a positive or negative affect on the project. Risks management is the process of identifying, assessing, responding to, monitoring, and reporting risks. The Risks Management Plan will define how risks associated with the Baderman Island Casino Hotel project will be identified, analyzed, and managed. The plan will outline how risks management activities will be performed, recorded, and monitored throughout the project. The plan will also provide a template and practices for recording and prioritizing risks.
The risks management plan has been created by the project manager during the planning phase of the Baderman Island Casino-Hotel project and the intended audience is the project team, project sponsors, and management.
Executive Summary
Baderman Island has recently been approached with an offer to construct the Silver’s Casino-Hotel on the grounds of the resort. With a downturn in the hospitality industry, volatile gas prices and current economic uncertainties, the Board of Directors and operational leaders believe the proposal could benefit the island. The casino will bring jobs to the local area, along with increasing revenues for the surrounding businesses. Along with jobs and increasing revenue, the casino-hotel will bring gaming as well as a blend of attractions and entertainment for the visitors to the island (University of Phoenix, 2014).
Project Summary
The hotel-casino will take 30 months to complete, beginning in November 2014, and will cost approximately $40 million to construct. Additional cost for roads and ferries for transporting materials, construction equipment, and workers to and from the island will be approximately two million dollars. The schedule for the roads and transportation will take three months with the roads needing
PM/584
July 14, 2014
Project Risk Management Plan
The purpose of the risk management plan is to identify any event or condition that may occur which could have a positive or negative affect on the project. Risks management is the process of identifying, assessing, responding to, monitoring, and reporting risks. The Risks Management Plan will define how risks associated with the Baderman Island Casino Hotel project will be identified, analyzed, and managed. The plan will outline how risks management activities will be performed, recorded, and monitored throughout the project. The plan will also provide a template and practices for recording and prioritizing risks.
The risks management plan has been created by the project manager during the planning phase of the Baderman Island Casino-Hotel project and the intended audience is the project team, project sponsors, and management.
Executive Summary
Baderman Island has recently been approached with an offer to construct the Silver’s Casino-Hotel on the grounds of the resort. With a downturn in the hospitality industry, volatile gas prices and current economic uncertainties, the Board of Directors and operational leaders believe the proposal could benefit the island. The casino will bring jobs to the local area, along with increasing revenues for the surrounding businesses. Along with jobs and increasing revenue, the casino-hotel will bring gaming as well as a blend of attractions and entertainment for the visitors to the island (University of Phoenix, 2014).
Project Summary
The hotel-casino will take 30 months to complete, beginning in November 2014, and will cost approximately $40 million to construct. Additional cost for roads and ferries for transporting materials, construction equipment, and workers to and from the island will be approximately two million dollars. The schedule for the roads and transportation will take three months with the roads needing
References: Cooper, D.F., Grey, S., Raymond, G, & Walker, P. (2005). Project risk management guidelines. Retrieved from The University of Phoenix eBook Collection database. University of Phoenix. (2014). Baderman Island Resort Casino Proposal. Retrieved from University of Phoenix, PM584 website.