Effective Risk Management for Organizational Projects - Desklib

Running head: RISK MANAGEMENT ASSIGNMENT
Risk Management Assignment
Name of the Student:
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1RISK MANAGEMENT ASSIGNMENT
Executive Summary
The assignment had been made for ensuring the use of the effective risk management
process for the organizational projects. The alignment would be helpful for easing the
simplification of the factors deploying the utilization of the factors aligning the simplification
process. The usefulness of the factors would be helpful for easing the simplification of the
various risk factors defining the utilization of the processes. The support and development of the
factors would help the use of the successive development of the improved functional
development. The following assignment had covered the risk factors and their impact on the 8 IT
project of Acme Medical Device Company. The company had needed this report for ensuring
that the project implementation can be successfully implied. The various risk mentioned in the
report were equipments failure, lack of pre information, technical issues, and lack of support
from the improved functional development. It had been developed for forming the useful
implication of the project management concepts for easing the utilization of the factors aligning
the successful implication of the factors. The success and development of the factors would be
helpful for successful integration of the operations. The risk analysis had been based on the
deployment of the improved factors. The 8 IT projects were Upgrade of the infrastructure,
security system upgrade, ESB implementation, MIS upgrade, ERP upgrade, Establishment of
Project Management Office, IT operation management, and IT recognition.

2RISK MANAGEMENT ASSIGNMENT
Table of Contents
1. Background..................................................................................................................................3
2. Change Management...................................................................................................................4
3. Risk Management........................................................................................................................6
3.1 Quantitative and Qualitative Risk Assessment......................................................................6
3.2 Monte Carlo Simulation of the Risk Impact on Projects.......................................................7
Conclusion.....................................................................................................................................12
References......................................................................................................................................14
Appendices....................................................................................................................................16
Appendix I: Updated Risk Register...........................................................................................16
Appendix II: Reflection.............................................................................................................17

3RISK MANAGEMENT ASSIGNMENT
1. Background
The project is a large scale IT project defining the implication of the factors successfully
integrating the alignment of the factors. The utilization of the improved factors would be helpful
for easing the utilization of the improved functional development (Walker, 2015). The 8 IT
projects were Upgrade of the infrastructure, security system upgrade, ESB implementation, MIS
upgrade, ERP upgrade, Establishment of Project Management Office, IT operation management,
and IT recognition. The usefulness of the factors would be helpful for easing the simplification
of the various risk factors defining the utilization of the processes. The support and development
of the factors would help the use of the successive development of the improved functional
development of Acme Medical Device Company. The company needed the projects to be
successful completed in the time duration for easing the utilization of the factors. The Acme
Medical Device Company wants to develop their product range by including the Insulin pump
for the diabetic patients. They are also in need for the IIPP transformation program status update.
The program management would be helpful for easing the simplification of the factors defining
the success of the key implementation process. The utilization of the factors would be helpful for
easing the utilization of the effective alignment of the improved communication.
Moreover the Acme Medical Device Company also wants to put focus on the factors of
program management, financing activities, sales and marketing, distribution channel
optimization, clinical trials, manufacturing optimization, manufacturing plant renovation, and
information systems upgrade (Kerzner & Kerzner, 2017). The technology upgrade is the most
effective alignment for the projects and it would also be helpful for the successful development
of the implication model. The support and development of the information would be helpful for
easing the utilization of the improved communication process. The implication of the projects