Developing a new mobile app for Hilton

**Need to have project risk management knowledge, it’s a project risk management class. **there will be two parts of the essay, first write about risk budgeting and second is risk time.**the project is about developing a new mobile app for hilton within 2 million and our team has 6 people. *First part: explain how the team member will deal with the risk budget like contingency reserves. for example: how EMV will be determined, how to allocate the risk funding each level of risk something like that. What are the process and steps for getting the risk budget. for example the risk owner will need to go through sponsor, and sponsor will determine whether to approved funding …etc. (think any process/ approaches/ methods/steps that relate to risk budget) (Do NOT NEED to explain what is risk budget or anything, simply start telling how the team member deal with risk budget. and it’s not talking about the whole PROJECT budget , it means only the budget for the risks) **Second Part: the risk time simply talk about How often will the team manage risk and how often the team has to report. For example: Regularly review risks, the team will Set aside time at least once a week to identify new risks and to monitor the progress of all logged items etc. ***use bullet point to separate each process or steps if needed **do not explain any definition, just write like a teamself report evaluation that how the team deal with these two for the risks.

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