Overview: In Milestones One and Two, you specifically focused on Section I of your final project. In Milestone Three, you will advance toward successful completion of your final project, the risk analysis and mitigation memo, by drafting key components of the project. Specifically, you will draft Sections II and III of the project—the project risk description (Section II) and the risk mitigation recommendation (Section III). At this point in your learning experience, these items have not been further broken down.
In the final project, and here in Milestone Three, you will analyze and recommend mitigation strategies for one project risk. Refer to the risk matrix in the Project Management Documents Excel workbook to select a project risk to focus on before you proceed. You may pick any one of these risks depending on which area you mean to speak to. You do not need to pick the most likely or significant risk. The risk you choose to focus on must come from this list.
Prompt: Specifically, Milestone Three must address the following critical elements:
I. Project Risk: Select a risk from the list in the Project Management Documents workbook. Using this Excel workbook as a guide, provide detailed
information about the specific project risk.
A. Explain why this risk requires attention. Support your response with examples from the Project Management Documents workbook.
B. Describe any dependencies within the project that may be affected by this risk. Provide specific examples from the project management
documentation to support your response.
C. Explain the implications for the project within the context of the triple constraint if this risk is not addressed.
II. Risk Mitigation: Using all available project documents as guides, recommend a risk mitigation strategy.
A. Explain the steps that need to be taken in order to mitigate the identified risk.
B. Explain in detail how the proposed mitigation strategy will affect the project. Include any tradeoffs that must be made to accommodate the
mitigation strategy, and consider the triple constraint and any other variables that you deem important.
C. Defend why your proposed mitigation strategy is the best course of action for the project team.
Remember that your writing throughout the memo should be clear and professional. Use language appropriate for the audience of stakeholders. This will help you prepare to fulfill part of the final project critical element on communication (Section V, Part A).
Guidelines for Submission: Your Milestone Three submission should be approximately 2 pages in length with double spacing, one-inch margins, 12-point Times New Roman font, and adherence to the latest edition of APA formatting.
Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information, review these instructions.