Understanding Communications And Risk Management Plans For Projects

Risk management plan

Understanding Communications And Risk Management Plans For Projects

 

 

In my previous article, I have looked at all that you need to know about process improvement plans for projects. In this article, I want to look at all that you need to know about communications and risk management plans for projects.

 

A communication management plan is a document that describes the project team’s approach to communicating information about the project. It documents what information must be communicated to whom, by whom, when , and in what manner. It also documents how information is collected , archived and assessed.

Risk management plan

Typical example…

A project manager in charge of presenting a company’s annual meeting with shareholders will have many stakeholders from different departments and at different levels of company management .

 

The communications management plan may include regularly scheduled status meetings with the employees assigned to the project, with meetings to be distributed to upper management . It may also stipulate an email distribution list with all stakeholders and resources included on all relevant project communication.

 

Risk management plans…

A risk management plan is a document that describes the team’s approach to identifying risks . It identifies the methodologies , approaches and tools that will be used

It also identifies the roles and responsibilities of those involved. It also identifies the budgeting and scheduling for risk management activities as well as the risk categories for the project.

 

Please note that the risk management plan does not address responses to risks. These are addressed in the risk response plan.

 

Typical example…

Entrepreneurs seeking funding from venture capitalists for a new business will present a risk management plan to their potential investors .

 

For a proposed amusement park, the plan will describe business risks, such as operational risks for potential loss die to employee theft, and insurable risks such as liabilities for injuries sustained on the park rides.

 

Procurement management plans…

A Procurement management plan is a document that outlines the guidelines for procuring work from outside sources. It specifies the type of contacts that will be used, describes the processes for obtaining and evaluating bids , mandates the standardised procurement documents that must be used, and explains how multiple providers will be managed.

 

The plans also state how procurement activities will be coordinated with other project management activities , such as scheduling and performance reporting. Depending on the need of the project, the procurement management plan may be formal or informal , brief or detailed.

 

Typical example…

A small advertising agency will procure contract from.external sources for some of the work considered neccesary but beyond its core capabilities , such as specialised printing and professional photography services.

 

The procurement management plan will outline the company’s processes for soliciting and evaluating bids from competing service providers and will specify how management will schedule contract work , schedule payments to providers for the work done , and evaluate the quality.

 

 

Now your take on this article…

I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you can drop your comment. Thanks in anticipation.

 

 

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About Adeniyi Salau 829 Articles
I am an IT enthusiast and a man of many parts. I am a Certified Digital Marketer, Project Manager and a Real Estate Consultant. I love writing because that's what keeps me going. I am running this blog to share what I know with others. I am also a Superlife Stem Cell Distributor. Our Stem Cell Products can cure many ailments.

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