Risk Management Strategies for Project Management

Question 3:
1. Treatment strategy to be considered ( Case 1)
It has been noted that development team determined risk with the windows phone because the
team had little experience with windows mobile operating system. It is also not capable of
performing many functions without commercial plug ins. Windows is not compatible with the
software and thus it needs to be removed from the project. The type of treatment strategy that the
company shall implement is to avoid it. It can choose not to take the risk by avoiding the actions
that actually leads to risk. .
2. Treatment strategy to be considered (Case 2)
When the section of the project becomes too difficult for the company to perform then under
such cases it becomes important that the company tries to make use of the mitigation strategy. It
tends to diminish the effects by reducing exposure towards risks by minimising the probability of
its occurrence. Minimising the impact and probability of occurrence of risk tends to be the
method that comprises of administering the risk in a controlled manner by means of elaboration
of an intervention plan with real measures for mitigation at times after it has taken place.
3. Case of Transference (Case 3)
Transference is considered to be risk management strategy that is not used so often and is utilised
in case of those projects where there are different parties. Here the party tends to transfer the
impact along with the management of risk to someone else. In normal cases, the transference
arrangement tends to be written up into project contracts. In the case study, it has been found that
the manager is sceptic if the project would contravene with the law because he is managing
project that makes use of the subroutines and library from distinct sources. Hence, here the HR
department shall employ a person with specialist knowledge in this area. The specialist shall be
capable of managing the risks by means of additional training. Hence, it can be revealed that the
case is exact example of transference.