Army Risk Management Plan

Decent Essays
1. The risk management plan was considered unnecessary because it was not a part of the contract and A corporation was concerned that the Army would abolish the project if they performed a risk management plan and the estimated cost increased substantially.

2. Risk management should be done at all stages. The initial assessment should be made in the proposal stage then the assessment should be revised and reevaluated throughout the projects life. New risks will become apparent at different stages and other ones will change with different circumstances.

3. No, but the customer expects the project manager to be skilled and experienced enough to be able to know potential threats that could hurt the project. If the contract doesn’t say specifically
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No, the customer should not be a part of the risk management plan. The management team should consider the timing the customer wants the project done in evaluating risk but that’s it. If the customer knew all the risks that a project could face then it might give them cold feet to continue. The management team should brainstorm all the potential risks then evaluate the most important or most likely ones then the customer should be filled in on the end result of the risk management plan.

7. The Army might have responded negatively to the risk management plan early in the Research and Development activities. If the Army knew that the estimated percentage of the reached specifications were 60%-70% they might try to find another contractor that could beat that percentage.

8. It would not be very effective if budget overruns and schedule slips are always allowed. One of the most important aspects to the risk management plan is staying on budget and on time. So when those kind of things are allowed and not discouraged it makes the project more costly and drag out
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Severe optimism or pessimism can affect the development of a risk management plan because when determining risks it matters whether someone a looking at the glass half full versus someone looking at the glass half empty. Someone who is looking at a glass half full will not be open minded to more potential risks then the half empty person would. “Promote a climate that recognizes the value of risk management. Strange as it may seem, many project managers are criticized for identifying risks and developing contingency plans: they are accused of pessimism or planning to fail. These project managers should receive praise rather than criticism because they are investing in avoiding obstacles, solving problems before they arise; the ultimate act of proactive management.” (Verzuh,
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