Managing Project Risks - National Archives of Australia

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National Archives of Australia
Managing Project Risks
7/30/2018

Managing Project Risks
Table of Contents
Introduction...........................................................................................................................................2
Risk Context..........................................................................................................................................2
Internal Risk Context.........................................................................................................................2
External Risk Context........................................................................................................................2
Risk Attitude......................................................................................................................................3
Risk Appetite.....................................................................................................................................3
Risk Tolerance...................................................................................................................................3
Approach to Identifying Risks...............................................................................................................3
Risk Register.........................................................................................................................................4
Risk Action Plan 1.............................................................................................................................7
Risk Action Plan 2.............................................................................................................................8
Monitor & Control Project Risks.........................................................................................................10
Activities to Monitor Risk Environment..........................................................................................10
Outcome of the Review...................................................................................................................11
Areas of Improvement.................................................................................................................11
Points to be considered................................................................................................................11
Management of Changed Risk Responses.......................................................................................12
Assess Risk Management Outcomes...................................................................................................12
Project Performance in terms of Risk Management.........................................................................12
Risk Management Issues.................................................................................................................12
Case Study...........................................................................................................................................13
Risk Review Process.......................................................................................................................13
Change in Risks over the period of time..........................................................................................13
Activities to Update the Risk Register.............................................................................................14
References...........................................................................................................................................15
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Managing Project Risks
Introduction
Destination Australia is the website of National Archives of Australia. It is essential to
upgrade the website and bring it to a commonly available content management system. There
are numerous functionalities that need to be added and modified. The report is a risk
management report for the project that lists out the measures to identify, analyse, evaluate,
treat, monitor, and control the risks.
Risk Context
Internal Risk Context
 People: There are people resources that will be assigned to the project and will have
the responsibility for different modules of the web site in the areas as development,
design, testing, deployment, and maintenance. The conflicts and disputes among the
resources may bring in project risks. Also, there may be communication issues among
the management resources, technical resources, and operational resources.
 Technology: There will be technical tools and platforms that will be used in the
project. Some of these will include Content Management System (CMS),
development tools, testing tools, communication tools, project management tools, etc.
These may bring in technical risks of faults and failures for the project1.
 Resources: The resources involved in the project will include people resources,
hardware, technological tools, and facilities. The availability of the resources and their
performance may lead to the presence or absence of project risks.
 Accessibility: There will be access to the database and project environments that will
be necessary for the resources to meet the project goals. This may bring in a set of
issues.
1 Joao Walter Saunders Pacheco do Vale and Marly Monteiro de Carvalho, "Risk And Uncertainty In Projects
Management: Literature Review And Conceptual Framework", Revista Gestão Da Produção Operações E
Sistemas 12, no. 2 (2017): 93-120, doi:10.15675/gepros.v12i2.1637.
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Managing Project Risks
External Risk Context
 Regulatory Requirements: The project is associated with the National Archives of
Australia that comprises of sensitive and critical information2. There will be
adherence to the Copyrights Law, Intellectual Property Rights, and Data Protection
Act that will be required to be maintained. Also, the ethical standards shall be
followed and adhered to.
 IT Environment: The project will have three environments as development, testing,
and production. The environments shall be updated on a regular basis failing which
there may be vulnerabilities and risks that may emerge.
 Stakeholders: There will be internal and external stakeholders associated with the
project and the management of the same will be the responsibility of the Project
Manager. The ineffective management may bring in stakeholder issues.
 Financial: The project will be completely funded by the project client viz. National
Archives of Australia. However, the incorrect estimations and market conditions may
result in financial issues.
Risk Attitude
Risk attitude is defined as the approach that is followed and adapted towards the risks. There
are three risk attitudes that the organizations may adopt as risk seeking, risk averse, and risk
neutral3.
The risk attitude for the project of National Archives of Australia is risk seeking in the areas
of technology and features. This is because the exploration of the technologies may enhance
the functionality of the website.
Risk Appetite
There will be risks associated with the project. The risk appetite will include the acceptance
of the low priority risks or the risks resulting in negligible impact.
Risk Tolerance
The risk tolerance level for the project will be limited to a variation in a maximum of 5% in
the project elements as scope, costs, schedule, and resources.
2 Gianluca Pescaroli and David Alexander, "Understanding Compound, Interconnected, Interacting, And
Cascading Risks: A Holistic Framework", Risk Analysis, 2018, doi:10.1111/risa.13128.
3 Mohammad Baydoun, "Opposing Risk Management Theories: The Context Of Large-Scale
Projects", International Journal Of Business Performance Management 15, no. 3 (2014): 229,
doi:10.1504/ijbpm.2014.063023.
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