Management Plan BN205 docx.

Added on -2020-02-18

| BN205| 7 pages| 1459 words| 38 views

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Student’s Name: University nameBN205 Project ManagementRisk Management Plan
BN205 RISK MANAGEMENTExecutive summary The topic RISK MANAGEMENT is the tool which must be used by the controlling manager or the project manager to envisage the presence of any threat or opportunity which may arise in future[ CITATION Aus17 \l 1033 ]1. Not only the items can be identified, the threats and opportunities can also be analyzed on the basis of its ‘impact’ of happening and ‘probability’ of its occurring. Now after analyzing the items are categorized according to the position obtained and the response plan is developed to ‘avoid’, ‘accept’, ‘share’ or ‘mitigate’. In current report we shall study such steps with respect to the casestudy.Table of ContentsIntroduction.................................................................................................................................................2Background of case study............................................................................................................................2Risk Management Plan................................................................................................................................2Risk Identification........................................................................................................................................3Risk Analysis................................................................................................................................................3Risk response plan.......................................................................................................................................4Monitoring and Controlling Risk..................................................................................................................4Evaluation / Justification.............................................................................................................................4Conclusion...................................................................................................................................................4References...................................................................................................................................................51
BN205 RISK MANAGEMENTIntroduction RISK MANAGEMENT technique provides the exposure of the team members to the possible threats and opportunities which may come across the project life cycle and can put either negative or positive impact on the three constraints of the project[ CITATION Ins16 \l 1033 ]2. A risk always has a tendency to put impact on the time schedule, budgeted cost or the scope of work and then obviously the quality requirement of the project. So, it must be assessed properly as provided below.Background of case studyIn Silicon Forest State University (SFSU), all the bugs which ever are generated while working in any of the department in University is being take care by the centralized IT department ‘Office of Information and Technology’ (OIT). Bugs are being monitored and tracked by using ‘Remedy’ software based on windows by the front end and ‘Request Tracker’ is used by the users of back end supported by UNIX. So in the same university itself the front end and back end users uses different software for ticketing purpose. It causes problem within the system due to manual data transfer from ‘Remedy’ to ‘Request Tracker’. To avoid any such issue, Head OIT has decided to replace the software being used by front end people by ‘Request Tracker’ to maintain harmony in the system. With this concept as background, Head OIT has appointed Ron as the leader of the project and he shall be cooperated by Harry of equivalent organizational level of Ron. Ron shall take care of the interface issue and Harry the back end support issues.Risk Management Plan The RISK MANAGEMENT plan is the document which is being developed in planning stage to describe the method or plan to deal with the possible threats and opportunities. This document becomes the basis of all further calculations and assessment[ CITATION Vic16 \l 1033 ]3. According to this plan, all thethreats and opportunities are required to be first identified by the front and back end both the users. After the identification is done, the list of such items are required to be analyzed by the team on the basis of the probability and impact of occurring the threat or opportunity and further on the basis of the positions the response plan or the mitigation plan is required to be developed by the team member. That’s it, all the work related to risk mitigation is over, but the administration is pending. As a part of monitoring and controlling, all the listed threats and opportunities are required to be monitored in every2

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