Assess the Project Risk Management

A few moments ago, Fred (one of your other key marketing specialists) handed you his resignation letter. He has accepted a similar opportunity with a competitor. His last day with LRH is in 3 days, and he is unwilling to stay any longer. He starts his new job right away and would like some time off between jobs. Your immediate response was to call Alana to inform her of what has just transpired. You inform her that you would like 1 hour to develop a project impact assessment. Then, you would like to schedule an emergency meeting with her and the other marketing department managers to discuss the project schedule and next steps.

Prepare a risk probability and impact assessment that defines the impact to the project team, assignments, and schedule. Define possible risk responses that you can take to respond to the risk event. Include any new risks that Fred's departure raises. The final portion of the risk probability and impact assessment should include recommendations for risk responses that you think should be taken, along with the rationale for these actions.

After completing the risk probability and impact assessment, you will share the results with Alana and the other department managers. Using your results from the risk probability and impact assessment (along with searching the article search engines and project management links in the library), add onto your presentation by summarizing the risk impact of Fred's departure, and lay out the recommended response. The presentation should share the bad news and emphasize the risk responses that you need Alana and the managers to take. Any open points, budget changes, or schedule changes will require Alana's approval, so be sure to share them.