2.

0   PROJECT ASSURANCE (Mohammed)

2.1   Project Risk Limit

Establish the tolerance for risk (risk limits) for the project

 the risk limit is the amount of risk the organisation is willing to accept on the
project
 when you later prepare the project management plan, you will analyse the
projects risk level and compare the risk limit to the project's risk level. 
 using a scale from 1-10, assign a number to represent the risk limit of your
project. 

1-3 (Low risk, low uncertainty); 4-7 (moderate risk, moderate uncertainty); 8-10
(high risk, high uncertainty)

 where possible, explain which types of risk are acceptable and which are not, or
quantify unacceptable consequences in financial costs, delays or quality. 

2.2   Reviews & Approvals

 Identify critical or mandatory reviews and approvals.

 identify checkpoints for assuring quality on the project

 define the reviews and approvals requested by the project customer or sponsor.
Note the reason for each review or approval.
 Include the project customer in this process, where appropriate

2.3   Reports Required

 describe the communications - that is, status reports - that the organisation requires at
a high level. 

 Status reports are used by management to monitor the project. The sponsor
should specify his needs from these reports. If he doesn’t, the team will describe
planned communications in the project management plan. 
 specify the frequency and content of each report.