Case Study on "Risk"
Case Study 3 pages (1158 words) Sources: 1
[EXCERPT] . . . .
RiskCreate a risk register for the project. Identify six potential risks.
RANK
RISK
DESCRIPTION
ROOT CAUSE
TRIGGERS
POTENTIAL RESPONSES
RISK
OWNER
IMPACT
Negative Moral
People Risk
Employees
Key members leaving the project
People Risk
Project Manager
Medium
Lack of candor regarding the status of the job
People Risk
Project Manager
Low
Increased efficiencies from intranet
Product Risk
Employees
High
Lower Costs from efficiencies
Product Risk
Over Company
High
Increase Collaboration
Product Risk
Employees
Medium
Risk
Risk- Negative Moral
Description- the intranet may cause opposition from traditional employees. They may revolt which ultimately may lower employee moral
Category-People Risk
Root Cause- the cause could potentially come from the lack of communication regarding the overall benefits of intranet. The company also did not properly notify employees as to wh
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Triggers- the project manager notices the lack of overall incentive and productivity at work
Risk Response- Make sure that management communicates in a candid manner with all stakeholders involved
Risk Owner- Employees
Probability- 20%
Impact-High (9)
Status- PM will set up meeting to discuss
Risk 2
Risk- Key members leaving the project
Description- Due to negative moral and lack of candor regarding the project, key employees may leave to competitors
Category- People Risk
Root Cause- Lack of candor and communication with key stakeholders and personnel
Triggers- Key personnel with very vital business and product expertise have left leaving employment gaps. This causes delays in implementation and overall service quality
Risk Response- Make sure communication is relevant and timely
Risk Owner- Project Manager
Probability- 40%
Impact -- High (9)
Status -- PM must partner with Human Resources to actively engage possible replacement candidates
Risk 3
Risk- Lack of candor regarding the status of the project
Description- the overall project has experienced difficulties regarding implementation. Employees and project personnel however are reluctant to discuss these issues with management for fear of punishment
Category- People Risk
Root Cause- Management is solely focused on results and doesn't take into account the unique qualities of those working on the project. These individuals may offer new and innovative solutions to help the overall implementation process. However, due to fear, employees are not offering these ideas.
Triggers- Personnel are simply "going through the motions" of work. They do not have the productivity or desire to complete the task ahead of schedule
Risk Response- Provide incentives and reward new ideas, candid behavior, and innovative solutions
Risk Owner- Management, and the company overall
Probability- 40%
Impact -- High (9)
Status -- Management should hold meeting to discuss ideas with key personnel
Risk 4
Risk- Increased efficiencies from the project
Description- the intranet, due to increased collaboration may experience increased efficiencies. This would occur due to rapid exception and adoption.
Category- Product Risk
Root Cause- Employees may adopt the intranet solution and use it in a manner that was unintended for its original use. This could potential cause increase efficiencies, whiling lowering overall company costs, and enhancing security
Triggers- Personnel interact and utilizing the system often.
Risk Response- Provide a trial period in which employees and use the system to become familiar with it
Risk Owner- Project Manager and Employees
Probability- 30%
Impact -- Medium (5)
Status- PM to schedule a trial period in which employees can become familiar with the intranet
Risk 5
Risk- Lower overall company costs
Description- Due to the implementation and acceptance of the intranet, employee's lower costs associated with overhead. Aspects such as security, paperwork, inefficient behavior, and bureaucracy are… READ MORE
Quoted Instructions for "Risk" Assignment:
“1. Create a risk register for the project, using Table 11-5 and the data below it as a guide. Identify six potential risks, including risks related to the problems described above. Include negative and positive risks.
2. Plot the six risks on a probability/impact matrix, using Figure 11-7 is below. Also assign a numeric value for the probability and impact of each risk on meeting the main project objective. Use a scale of 1 to 10 in assigning the values, with 1 being low and 10 being high. For a simple risk factor calculation, multiply these two values (the probability score and the impact score). Add a column to your risk register to the right of the impact column called Risk Score. Enter the new data in the risk register. Write your rationale for how you determined the scores for one of the negative risks and one of the positive risks.
3. Develop a response strategy for one of the negative risks and one of the positive risks. Enter the information in the risk register. Also write a separate paragraph describing what specific tasks would need to be done to implement the strategy. Include time and cost estimates for each strategy, as well.
Detailed instructions and Tables will be sent with the instructions to get to the E-book. *****
How to Reference "Risk" Case Study in a Bibliography
“Risk.” A1-TermPaper.com, 2013, https://www.a1-termpaper.com/topics/essay/risk-create-register/3104167. Accessed 6 Jul 2024.
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