Project Management Risks Assessment for Security Technologies Firm

Project Management Risks Assessment

Contents
1) Part A...............................................................................................................................................2
Overview..............................................................................................................................................2
Aim......................................................................................................................................................2
Objective..............................................................................................................................................2
Scope....................................................................................................................................................2
Budget..................................................................................................................................................3
Time.....................................................................................................................................................3
Rationale..............................................................................................................................................3
Challenges............................................................................................................................................4
List of Stakeholder...............................................................................................................................4
Conclusion...........................................................................................................................................5
2) Part 2................................................................................................................................................5
Risk assessment analysis.....................................................................................................................5
Risks Matrix.........................................................................................................................................7
3) Part 3................................................................................................................................................9
Risk Mitigation Plan and Strategy.......................................................................................................9
Risk Analysis:....................................................................................................................................13
4) References:.....................................................................................................................................14

Case study: Security Technologies firm relocates US headquarters on schedule and $3 M
under budget
1) Part A
Overview
The company which is taken under research study deals with the supply of military
equipment such as threat detection technologies security of homeland, and resilience
applications and technologies. The company is looking forward to transform their
headquarters which involves the relocation of the employees, and others. The company wants
to complete the project within the approved budget by making use of project management
techniques.
Aim
The aim of this project is to minimise the cost spent on relocation of the US head quarter of
the company so as to provide the improved services to the customers.
Objective
The objective of this project is to resolve the challenges associated with the project due to the
transformation of organization environment. The focus should be given on minimizing the
operating cost, facilitating legal requirement, open job opportunities for the employees,
providing enhanced services to the customers, managing the operational plan of the
enterprise. The PM solution should be used for resolving the challenges associated with the
company by developing proactive plan for communication management system, resources
management system, quality management system, risks management system, and
development of the operational program.
Scope
The scope of the project is to implement Project management techniques in for providing
preferred solution to the challenges faced by the company in the relocation of their
Headquarter. The synchronization of the project activities helps in eliminating the problem of
over budgeting (Balley and Riffel, 2010). The project management techniques help in
preplanning the activities related to scope management system, setting of company’s mission,
scheduling of process, allocation of resources, communication management plan,
procurement management plan, quality management plan and others.

In-scope activities
 Checking out the legal requirement of the project
 Complying the human resource management notification in regards to the new
policies of the state government
 Financial management by providing required changes in the SAP system
 Providing new opportunities to the employees
 Preparing the cost estimation plan of the enterprise
 Creating new programs for employees retention
 Analysing the critical path of activities
 Identifying risk associated with the project
 Identifying risk mitigation plan
 Controlling the quality of service provided to the customers
 Division of role and responsibilities for relocation
Out of scope:
× Training and development program arranged for the employees
× Approval from the government agencies
Budget
The budget allocated for completing the project of relocation of company’s head quarter is
about 12 Million dollar.
Time
The time required for the relocation of the head quarter is about 8 months.
Rationale
The development of the project management techniques helps in synchronizing the schedule
of the processes undertaken(Embric, 2016). The work breakdown structure developed for the
relocation procedures helps in completing the project on time and under the required budget
because it focuses on preparing the process schedule with approximate time of completing
the activities. The analysis of the critical activities makes the project to be completed on time.
The cost estimation of the budget helps in completing the project under budget because the
estimated cost of the project is always more than the actual cost of the project (EY
Publication, 2012).