NOTE: Everything in BOLD are things that I need to turn in for my part.
Think of how many risks come into play when you decide to conduct a simple project, such as painting your living room. The following are some examples of risks:

What type of paint will you use (and can you afford high-quality paint)?
Who will move that brand new, big screen TV?
Who is going to paint?
Do you have the time, money, and resources?
Have you ever considered any of this, or do you simply cover up as much things as you can and start painting?

Risks exist regardless of whether people acknowledge it or not. Depending on the complexity of the project, the number and type of risk multiplies. Everyone has their own solution to each risk, but when working with a group within an organization, fragmentation such as this becomes counterproductive and a major risk in the end.
Scenario : 
I have come with an Idea called ROSE which stands for Reserve on Site Easily, its a application that can be used on any phone. How it works is by lets say someone doesn’t have a Wi-Fi connection or is not by Wi-Fi. What would happen is once by or near Wi-Fi their reservations will be saved and than will be sent to the hotel they would like to stay at, this will save a lot of time for not only them but the hotel as well. This will also save their spot until they have reached Wi-Fi, this will also be able to show what’s available and what’s not available when not on Wi-Fi.

Group Portion
As a group, you are to describe a project that all of you will participate in, and include the following:  

Define the goal of the project
List the project’s duration
Explain who are the stakeholders (those who participate)
*** Review benefits by the project implementation *** (My Portions)
Explain your need for resources

You need not go into in-depth details on the project.
Individual Portion 
Each group member is to come up with 2 risks to this project. Each risk must include the following elements:

What technique(s) was used to identify the risk?
What type of risk is it, and does it have specific IT elements and considerations?
How was the risk assessed, and how does it rank with all of the risks identified by the group?
Is the risk qualitative or quantitative, and does it work with an EMV or Pareto analysis with all of the risks identified by the group?
What is the response to this risk, assuming it occurs during the project’s lifecycle?
Provide at least 2 contingency plans for this risk (one primary and a second backup).

Group Portion
Combine the individual portion into a cohesive 6–8-page report that also includes the following:

A summary of the project (as discussed in the 1st group discussion)
How will the risks be monitored and controlled?
How will risks be communicated to all project participants?
*** What EVM comes from the risk management plan? *** (My Portion)
Are there any special tools utilized by the plan to manage all identified risks?

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