Applied Sciences homework help

Semester Project–Developing a Project Risk Management Plan (500 marks)
As part of the semester project, students will develop a set of project risk management planning documents to be discussed in detail in the first face-to-face session. Main tasks to be accomplished are:

1. Students will select a hypothetical project or draw from a current work project and develop a project charter for the chosen project (Milestone 1; submission deadline 02/18/2020 at 11:59 pm; 50 marks)
2. Create risk management documents based upon templates, techniques, and examples provided in the PMI Practice standard for project risk management:
   1. Risk Identification, Risk Register and Stakeholder List (Milestone 2; submission deadline 03/10/2020 at 11:59 pm; 50 marks)
   2. Qualitative and Quantitative Risk Analysis Report (Milestone 3; submission deadline 04/14/2020 at 11:59 pm; 100 marks)
   3. Risk management plan (cumulative) (Milestone 4; submission deadline 05/05/2020 at 11:59 pm; 300 marks)

For milestone 3, you are required to use the risk register and stakeholder list to perform Qualitative and Quantitative Risk Analysis for your selected project. Follow the steps provided below:

• Use the Probability and Impact Matrix to perform a qualitative risk analysis
• Select one of the quantitative risk analysis techniques (Decision Tree Analysis, Expected Monetary Value, Fault Tree Analysis,  Monte Carlo Simulation, or System Dynamics) and perform the analysis using the selected technique
• Summarize your results and compile analysis from step 1 and 2. Make sure to include important assumptions you made while carrying out the analysis.

Please see Chapter 11, Section 11.3 and 11.4 of the PMBOK Guide and Chapters 6 and 7 of the Practice standard for project risk management.
Rubric
Semester Project Milestone 3 Rubric

Semester Project Milestone 3 Rubric
Criteria	Ratings	Pts
This criterion is linked to a Learning OutcomeQualitative Risk Analysis	40.0 to >34.0 pts Analysis above expectations 34.0 to >28.0 pts Analysis meets expectations 28.0 to >16.0 pts Analysis provides most of the required components 16.0 to >0 pts Analysis below expectations	40.0 pts
This criterion is linked to a Learning OutcomeQuantitative Risk Analysis	40.0 to >34.0 pts Analysis above expectations 34.0 to >28.0 pts Analysis meets expectations 28.0 to >16.0 pts Analysis provides most of the required components 16.0 to >0 pts Analysis below expectations	40.0 pts
This criterion is linked to a Learning OutcomeSummary of results	20.0 to >15.0 pts Excellent summary 15.0 to >10.0 pts Good summary 10.0 to >8.0 pts Fair summary 8.0 to >0 pts Summary below expectations	20.0 pts
Total Points: 100.0

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