The Project Risk Management Plan is an essential component of the master project plan. Write an Executive Summary (narrative) of not more than two (2) pages in length, regarding the importance of the process of the ‘probability/impact analyses’ of risk. Use the ‘Business Memo: An Executive Summary,’ template for your format; and in a narrative form, discuss the following:
• Current Facts
• Impact
• Action
In this assignment, you will be articulate a critical understanding of the use of this tool –the ‘Probability and Impact Risk Matrix,’ to facilitate developing a ‘Project Risk Management Plan.’ Discuss the components as you understand them.
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