Risk Management for Project Success

This assignment delves into the crucial aspect of risk management in project planning. It presents a comprehensive risk register outlining potential threats to a project's success, along with their associated probabilities and impacts. For each identified threat, the document proposes mitigation strategies to minimize the likelihood or impact of these risks. The focus is on proactive risk identification and management to ensure project objectives are achieved.

Information Systems Project Management
Social CRM Project
Student’s Name
17Name of University

Social CRM Project
Table of Content
Assumptions................................................................................................................................................................ 2
1. Gantt chart........................................................................................................................................................... 2
2. Network Diagram............................................................................................................................................. 3
3. SMART Milestones........................................................................................................................................... 4
4. Resources Table................................................................................................................................................ 5
5. Project Budget.................................................................................................................................................... 6
6. RACI Table........................................................................................................................................................... 9
7. Risk Register.................................................................................................................................................... 10
8. Probability/Impact Matrix.........................................................................................................................12
Reference.................................................................................................................................................................... 12
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Social CRM Project
Assumptions
No holiday considered during the project lifecycle
Weekends off days
Daily working hours = 8 hours / day
From 8:00 AM – 12:00 PM = 4 hours (Working Time)
From 12:00 PM – 1:00 PM = 1 hour (Break/Lunch time)
From 1:00 PM – 5:00 PM = 4 hours (Working Time)
1. Gantt chart1
1 Agyei, Wallace. "Project Planning And Scheduling Using PERT And CPM Techniques With Linear Programming:
Case Study
2

Social CRM Project
2. Network Diagram2
2 Usmani, Fahad. "Lead Time and Lag Time in Project Scheduling Network Diagram."
3

Social CRM Project
3. SMART Milestones3
Task Name Duration Start
Social CRM project for High Service Inc. 109 days Fri 9/1/17
Initiation & Planning of Social CRM project 14 days Fri 9/1/17
1-Milestone: Start of Social CRM project 0 days Fri 9/1/17
2-Milestone: Finish of Initiation & Planning stage 0 days Wed 9/20/17
Execution of New Social CRM Project 82 days Wed 9/20/17
3-Milestone: Start of Execution Stage 0 days Wed 9/20/17
Engage Consultant to compile short list of vendors 9 days Wed 9/20/17
3.1-Milestone: Start engaging consultant 0 days Wed 9/20/17
3 Thakur, Sidharth. "How to Prepare a Milestones Report for a Project?"
4

Social CRM Project
3.2-Milestone: Finish engaging consultant 0 days Tue 10/3/17
Try & Select the Solution options 7 days Tue 10/3/17
3.3-Milestone: Start developing various options 0 days Tue 10/3/17
3.4-Milestone: Select the best option 0 days Thu 10/12/17
Procure New System 73 days Tue 10/3/17
3.5-Milestone: Start the Procuring procedure 0 days Tue 10/3/17
3.6-Milestone: Procurement finishes 0 days Tue 11/28/17
Integrate, Test, Implement, Train & Support the New
System 33 days Tue 11/28/17
3.7-Milestone: Start Integration of New system with
existing architecture 0 days Tue 11/28/17
3.8-Milestone: Finish implementation of New System 0 days Fri 1/12/18
4-Milestone: Finish of Execution Stage 0 days Fri 1/12/18
Close & Measure Performance of Social CRM Project 13 days Fri 1/12/18
5-Milestone: Start Closing of the Project activities 0 days Fri 1/12/18
6-Milestone: Finish the Social CRM project 0 days Wed 1/31/18
4. Resources Table4
Resource Name Type Initials Group Max. Units Std. Rate Accrue At
Ben (Project Sponsor) Work BEN Internal 100% $800.00/hr Prorated
Gagandeep Kaur Maan
(Project Manager) Work GKM Internal 100% $535.00/hr Prorated
George (Marketing
Manager) Work GMM Internal 100% $486.00/hr Prorated
Project Team Work PT Internal 1,000% $333.00/hr Prorated
External Consultant Work EC External 100% $2,148.00/
hr Prorated
Vendor (New System) Work VNS External 100% $3,200.00/
hr Prorated
Resource Name Cost Group Work Subtotal Total
Ben (Project Sponsor) $25,600.00 Internal 32 hrs
$ 300,000.00
$ 2,000,128.00
Gagandeep Kaur Maan
(Project Manager) $107,000.00 Internal 200 hrs
George (Marketing
Manager) $15,552.00 Internal 32 hrs
Project Team $151,848.00 Internal 456 hrs
External Consultant $292,128.00 External 136 hrs
4 McConnell, Eric. "Project Budget and Financial Resources."
5

Social CRM Project
$ 1,700,128.00Vendor (New System) $1,408,000.00 External 440 hrs
5. Project Budget5
WBS Task Name Duration Start Finish Resourc
e Initials Cost
1 Social CRM project for High
Service Inc. 109 days Fri 9/1/17 Wed 1/31/18 $2,000,128.00
1.1 Initiation & Planning of Social
CRM project 14 days Fri 9/1/17 Wed 9/20/17 $80,736.00
1.1.1 1-Milestone: Start of Social
CRM project 0 days Fri 9/1/17 Fri 9/1/17 $0.00
1.1.2
Prepare the Business Case (by
working with Marketing
Manager)
2 days Fri 9/1/17 Mon 9/4/17 GKM,
GMM $16,336.00
1.1.3 Prepare the Project Charter 3 days Tue 9/5/17 Thu 9/7/17 GKM $12,840.00
1.1.4 Get approval 1 day Fri 9/8/17 Fri 9/8/17 BEN $6,400.00
1.1.5 Fix System Requirements
(with Marketing Manager) 2 days Mon
9/11/17 Tue 9/12/17 GKM,
GMM $16,336.00
1.1.6 Prepare the Project
Management Plan 3 days Wed
9/13/17 Fri 9/15/17 GKM $12,840.00
1.1.7 Prepare the Scope, Time &
Cost Management Plan 3 days Mon
9/18/17 Wed 9/20/17 PT $7,992.00
1.1.8 Prepare other required
Management Plans 3 days Mon
9/18/17 Wed 9/20/17 PT $7,992.00
1.1.9 2-Milestone: Finish of
Initiation & Planning stage 0 days Wed
9/20/17 Wed 9/20/17 $0.00
1.2 Execution of New Social CRM
Project 82 days Wed
9/20/17 Fri 1/12/18 $1,845,192.00
1.2.1 3-Milestone: Start of Execution
Stage 0 days Wed
9/20/17 Wed 9/20/17 $0.00
1.2.2 Engage Consultant to
compile short list of vendors 9 days Wed
9/20/17 Tue 10/3/17 $40,008.00
1.2.2.1 3.1-Milestone: Start engaging
consultant 0 days Wed
9/20/17 Wed 9/20/17 $0.00
1.2.2.2 Publish advertisement in
Social Media 2 days Thu
9/21/17 Fri 9/22/17 PT $5,328.00
1.2.2.3 Evaluate the received
resumes 5 days Mon
9/25/17 Fri 9/29/17 PT $13,320.00
1.2.2.4 Conduct Interview & appoint
consultant 2 days Mon
10/2/17 Tue 10/3/17 BEN,
GKM $21,360.00
1.2.2.5 3.2-Milestone: Finish
engaging consultant 0 days Tue
10/3/17 Tue 10/3/17 $0.00
1.2.3 Try & Select the Solution
options 7 days Tue
10/3/17
Thu
10/12/17 $32,536.00
1.2.3.1 3.3-Milestone: Start
developing various options 0 days Tue
10/3/17 Tue 10/3/17 $0.00
1.2.3.2 Option 1 3 days Wed Fri 10/6/17 PT $7,992.00
5 RationalPlan. "Creating Budget Or Cost Baselines For Projects."
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Social CRM Project
10/4/17
1.2.3.3 Option 2 3 days Thu
10/5/17 Mon 10/9/17 PT $7,992.00
1.2.3.4 Option 3 3 days Fri 10/6/17 Tue 10/10/17 PT $7,992.00
1.2.3.5 Analyze and Finalize the best
solution option 2 days Wed
10/11/17 Thu 10/12/17 GKM $8,560.00
1.2.3.6 3.4-Milestone: Select the best
option 0 days Thu
10/12/17 Thu 10/12/17 $0.00
1.2.4 Procure New System 73 days Tue
10/3/17 Fri 1/12/18 $1,772,648.00
1.2.4.1 3.5-Milestone: Start the
Procuring procedure 0 days Tue
10/3/17 Tue 10/3/17 $0.00
1.2.4.2 Vendor Selection 18 days Wed
10/4/17 Fri 10/27/17 $302,808.00
1.2.4.2.1 Publish advertisement in
Social Media & Newspaper 2 days Wed
10/4/17 Thu 10/5/17 EC $34,368.00
1.2.4.2.2 Receive tender bids 10 days Fri 10/6/17 Thu 10/19/17 EC $171,840.00
1.2.4.2.3 Evaluate received bids 3 days Fri
10/20/17 Tue 10/24/17 EC $51,552.00
1.2.4.2.4 Compilation & Negotiate
with the shortlisted vendors 2 days Wed
10/25/17 Thu 10/26/17 EC $34,368.00
1.2.4.2.5 Select and provide the
Supply & Service order 1 day Fri
10/27/17 Fri 10/27/17 BEN,
GKM $10,680.00
1.2.4.3 Supply of New System 22 days Mon
10/30/17
Tue
11/28/17 $563,200.00
1.2.4.3.1 Design by Vendor 5 days Mon
10/30/17 Fri 11/3/17 VNS $128,000.00
1.2.4.3.2 Develop the new system 15 days Mon
11/6/17 Fri 11/24/17 VNS $384,000.00
1.2.4.3.3 Deliver the New System 2 days Mon
11/27/17 Tue 11/28/17 VNS $51,200.00
1.2.4.4 3.6-Milestone: Procurement
finishes 0 days Tue
11/28/17 Tue 11/28/17 $0.00
1.2.4.5
Procure the data & APIs for
uploading in social media
platform
20 days Fri
10/13/17 Thu 11/9/17 PT $53,280.00
1.2.4.6
Integrate, Test, Implement,
Train & Support the New
System
33 days Tue
11/28/17 Fri 1/12/18 $853,360.00
1.2.4.6.1
3.7-Milestone: Start
Integration of New system with
existing architecture
0 days Tue
11/28/17 Tue 11/28/17 $0.00
1.2.4.6.2 Integrate with existing
architecture 15 days Wed
11/29/17 Tue 12/19/17 VNS $384,000.00
1.2.4.6.3 Trial new system with
Marketing Department 2 days Wed
12/20/17 Thu 12/21/17 GKM,
VNS $59,760.00
1.2.4.6.4 Implement the New System
across the enterprise 6 days Fri
12/22/17 Fri 12/29/17 VNS $153,600.00
1.2.4.6.5 Provide training 10 days Mon
1/1/18 Fri 1/12/18 VNS $256,000.00
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Social CRM Project
1.2.4.6.6 3.8-Milestone: Finish
implementation of New System 0 days Fri 1/12/18 Fri 1/12/18 $0.00
1.2.5 4-Milestone: Finish of
Execution Stage 0 days Fri 1/12/18 Fri 1/12/18 $0.00
1.3 Close & Measure Performance
of Social CRM Project 13 days Fri
1/12/18 Wed 1/31/18 $74,200.00
1.3.1 5-Milestone: Start Closing of
the Project activities 0 days Fri 1/12/18 Fri 1/12/18 $0.00
1.3.2 Document Lessons Learned 5 days Mon
1/15/18 Fri 1/19/18 GKM $21,400.00
1.3.3 Establish Metrics 5 days Mon
1/22/18 Fri 1/26/18 $39,960.00
1.3.3.1 To measure number of likes
in Facebook & Twitter follower 5 days Mon
1/22/18 Fri 1/26/18 PT $13,320.00
1.3.3.2 To measure the increase in
revenue generation 5 days Mon
1/22/18 Fri 1/26/18 PT $13,320.00
1.3.3.3 To measure the impact on
Customer Services 5 days Mon
1/22/18 Fri 1/26/18 PT $13,320.00
1.3.4 Prepare & handover report on
the lessons learned and metrics 3 days Mon
1/29/18 Wed 1/31/18 GKM $12,840.00
1.3.5 6-Milestone: Finish the Social
CRM project 0 days Wed
1/31/18 Wed 1/31/18 $0.00
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Social CRM Project
6. RACI Table
R – ‘Responsible’ A – ‘Accountable’ C – ‘Consulted’ I - ‘Informed’6
Ben
(Project
Sponsor)
Gagandeep
Kaur Maan
(Project
Manager)
George
(Marketing
Manager)
Project
Team
External
Consultant
Vendor
(New
System)
Prepare the
Business Case A R C I - -
Prepare the
Project Charter A R C I - -
Fix System
Requirements I R C I - -
Prepare the
Project
Management Plan
A R C I - -
Prepare the Scope,
Time & Cost
Management Plan
I A C R - -
Prepare other
required
Management Plans
I A C R - -
Compile short list
of vendors I A I C R -
Try & Select the
Solution options I A C R - -
Vendor Selection C A I I R -
Supply of New
System I A I I C R
Procure the data &
APIs for uploading
in social media
platform
C A C R - I
Integrate with
existing
architecture
C A I C - R
Trial new system
with Marketing
A C C I - R
6 Value Based Management. "Agreeing on Roles and Responsibilities: Summary of RACI."
9

Social CRM Project
Department
Implement the
New System
across the
enterprise
C A I I - R
Provide training I A I C - R
Document Lessons
Learned A R C C C C
Establish Metrics A R C C I I
Prepare &
handover report
on the lessons
learned and
metrics
A R I I I I
7. Risk Register7
Risk No. Description Probability
(1 to 5)
Impac
t
(1 to 5)
Owner Response Plan
Oppo-1 Increase Customer
Satisfaction level by
delivering the exact
solution as per the
project objective and
goal and improve the
customer service
through social media
4 4 Project
Manager
The opportunity
needs to be
enhanced to
achieve the goal
and objective
Threat-1 Risk of Cyber-attack
in the system can
impact the business
very badly and
customer satisfaction
level
3 5 Project
Manager
The solution needs
to be built highly
secured system to
protect it from any
kind of cyber-attack
7 Sciences Engineering Medicine. Chapter: 5 Risk Mitigation
10

Social CRM Project
Threat-2 Could not be
implemented at every
location due to system
barrier 2 4 Project
Manager
Before designing
the options, all the
considerations and
study need to be
done to prevent
from any kind of
failure
Threat-3 Loss of money and
fame due to
unsuccessfulness in
achieving the desired
objective
2 3 Project
Manager
The objective, goal
and risk register
need to be
discussed in every
meeting to keep the
team aligned
Threat-4 Project may take more
than six months and
increase the resource
cost & project budget
4 3 Project
Manager
Time schedule is
required to be
assessed carefully
and minutely to
avoid any delay
Threat-5 Unknown users /
competitors may post
bad remarks online
which can impact the
business opportunity 3 4 Project
Manager
Feature needs to be
added in the
system, that
without proper
authentication
none of the users
can use or post any
comment using this
platform
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Social CRM Project
8. Probability/Impact Matrix8
Very
Likely 5
Low
Medium
Medium Medium
High
High High
Likely 4
Low Low
Medium
Medium
Threat-
4
Medium
High
Oppo-1
High
Possible 3
Low Low
Medium
Medium Medium
High
Threat-
5
Medium
High
Threat-
1
Unlikely 2
Low Low
Medium
Low
Medium
Threat-
3
Medium
Threat-
2
Medium
High
Very
Unlikely 1
Low Low Low
Medium
Medium Medium
1 2 3 4 5
Negligible Minor Moderate Significant Severe
Impact
Probability
Reference
Agyei, Wallace. "Project Planning And Scheduling Using PERT And CPM Techniques With
Linear Programming: Case Study." INTERNATIONAL JOURNAL OF SCIENTIFIC &
TECHNOLOGY RESEARCH 4, no. 8 (2015): 222-227.
Dumbravă, Vasile, and Vlădu -Severian Iacob. "Using Probability- Impact Matrix in Analysisț
and Risk Assessment Projects." Journal of Knowledge Management, Economics and
Information Technology, 2013: 76-96.
McConnell, Eric. "Project Budget and Financial Resources."
http://www.mymanagementguide.com. March 23, 2011.
http://www.mymanagementguide.com/project-budget-and-financial-resources/
(accessed October 8, 2017).
8 Dumbravă, Vasile, and Vlăduț-Severian Iacob. "Using Probability- Impact Matrix in Analysis and Risk Assessment
Projects."
12

Social CRM Project
RationalPlan. "Creating Budget Or Cost Baselines For Projects."
https://www.rationalplan.com. 2017.
https://www.rationalplan.com/projectmanagementblog/creating-budget-or-cost-
baselines-for-projects/ (accessed October 8, 2017).
Sciences Engineering Medicine. Chapter: 5 Risk Mitigation. 2017.
https://www.nap.edu/read/11183/chapter/7#51 (accessed October 8, 2017).
Thakur, Sidharth. "How to Prepare a Milestones Report for a Project?"
http://www.brighthubpm.com. April 4, 2011.
http://www.brighthubpm.com/templates-forms/116196-how-to-prepare-a-
milestones-report-for-a-project/ (accessed October 8, 2017).
Usmani, Fahad. "Lead Time and Lag Time in Project Scheduling Network Diagram."
https://pmstudycircle.com. PM Study Circle. 2017.
https://pmstudycircle.com/2013/02/lead-time-and-lag-time-in-project-
scheduling-network-diagram/ (accessed October 8, 2017).
Value Based Management. "Agreeing on Roles and Responsibilities: Summary of RACI."
http://www.valuebasedmanagement.net. 2016.
http://www.valuebasedmanagement.net/methods_raci.html (accessed October 8,
2017).
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