project risk management

 
One of the risks you anticipated for the project was the late delivery of the prototype from the vendor. You adjusted your project schedule to minimize the impact of the risk, built in a penalty for late delivery, and created action plans in case the vendor delivered late. You also identified a risk with the vendor that they have very little technical depth; if the key engineer is not available to your project, the risk of a delay is even greater. You determined how you would monitor the vendor’s performance and ensure a timely delivery. You took a very risk-averse, protective approach to the relationship, but now, as the project is progressing, you are wondering if there is something you could do with the vendor to actually benefit the project instead of just protecting it.
Assignment Guidelines:
Create a 1-page addendum to your risk management plan that describes how you will modify the plans or create new plans relative to that vendor to create an opportunity that will result in lower costs, earlier delivery, higher quality, or other positive impacts.
Also, answer the following questions:

What can you change in your plans to create an opportunity?
What would that opportunity be?
What is the probability that this opportunity could occur? What is the impact?
What are the risks (adverse effect) that are introduced by this change in plans?
How will you communicate this change to the vendor?

Don't use plagiarized sources. Get Your Custom Essay on
project risk management
For as little as $15/Page
Order Essay

Your submitted assignment (250 points) must include the following:

A 1-page addendum
A 2 to 3 page document answering the questions above
Submit both files as 1 zipped document to the drop box

Order your essay today and save 25% with the discount code: THANKYOU

Order a unique copy of this paper

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
Top Academic Writers Ready to Help
with Your Research Proposal
Live Chat+1(978) 822-0999EmailWhatsApp

Order your essay today and save 25% with the discount code THANKYOU