Complete Section 4 – Corrective Action and Monitoring of the risk management plan by evaluating the organizational and departmental tolerance for risk, identifying risk mitigation approaches, describing a strategy for corrective risk management, and assessing a corrective plan for your chosen case study or work project.
Consider why an organization would use corrective action and how the risk management process is monitored. Monitoring risks and preparing corrective action reports are beneficial in the risk management process.
Strategic planning approaches, including the SWOT (strengths, weaknesses, opportunities, and threats) approach, are used in evaluating a business and examining its strengths (opportunities) and weakness (threats). The SWOT approach can be a beneficial tool for corrective action and risk monitoring processes.
The information collected can identify areas of risk opportunities or threats so that corrective action and monitoring can be planned into the risk management process.
Microsoft Project is the recommended software tool for this course due to its wide industry acceptance and its use in many project management professional roles. This is provided to you through MS Imagine.
If you encounter any difficulties in the download and installation process, post a detailed question in the Ask Your Faculty Discussion in the menu dropdown when you click the image of your faculty.
This assessment includes developing corrective action and monitoring for a risk management plan. Review the Risk Management Plan Template before beginning this assessment. Note: Developing a risk management plan for a project requires speciﬁc steps in sequence. Complete the assessments in this course in the order in which they are presented.
Corrective action and monitoring determine the different types of corrective risk management and describe the processes and responsibilities.
Microsoft Project is the recommended software tool for this assessment.
Analyze the information in the case study or your work project to complete this assessment:
Use the Risk Management Plan template you have been working on to fill out Section 4 – Corrective Action and Monitoring. You must include the following sections. Refer to the template for directions on what to put in each.
By successfully completing this assignment, you will demonstrate your proficiency in the following course competencies through corresponding scoring guide criteria:
Your course instructor will use the scoring guide to review your deliverable as if they were your immediate supervisor. Review the scoring guide prior to developing and submitting your assignment.