RISK Management We have a new client, so the Telephone Project will have to be shelved temporarily. The Chinese Railroad Ministry (CRM) wants a Risk Management Plan for their Automated Railway Reservation System (ARRS) as described in Chapter 2 of the textbook. The Case Study is attached in this section along with Risk Plan Template.A new Project Manager will have to be identified and managing this project.Prepare a Risk Management Plan for the ARRS as follows:• Review the 12 risk categories- Identify a minimum of 20 risks for this project, with at least one risk per category- Prioritize (sort) the risks, while still clearly identifying their category- Prepare a sorted Risk Categorization Table with column headings Risk Factors/Categories, Low Risk, Medium Risk, High Risk, Rating, Comments- Identify the top 5 risks and calculate their Risk Exposure (RE)• Prepare a table to list top risks with column headings ID, Risk Item, Probability, Loss, Risk Exposure, Resolution Approach, Who, DateBe sure to tie your risks directly to the ARRS project rather than identifying generic risks.
