In this assignment, you will satisfy good contract risk management  based on a scenario provided.  Risks from contracts come in terms of  time, money, resources, and goals not being met.  Each risk must be  evaluated on the likelihood of it happening, the cost if it does happen,  and how to mitigate or accept the risk.

Creating a risk log is often done as part of project management, and  each contract is a small project in and of itself.  Therefore, risk logs  are a good mechanism to capture the risks and what the costs are and  what the strategy will be to deal with them.

Upon successful completion of this assignment, you will be able to:

Explain the risk management you would employ on a contract.

Instructions

Review the rubric to make sure you understand the criteria for earning your grade. 

Read chapter 6 in the textbook Contract Management:  Winning Secrets to Develop and Manage IT Contracts.

Assume that you are buying ServiceNow software and  deployment services for service desk management.  This is for the IT  department only, but it affects the whole company in how services from  IT will be provided.  You have licensing on a subscription basis each  year and consulting services to pay for in being able to roll out the  software to the IT department.

• Write a Word document with a paragraph for each of the  ways to identify risk management aspects of this contract.  Document how  you would satisfy risk management for this contract.