Develop and implement risk mitigation plan: (Case Study- Development of cloud-based ERP system in Studer Group, Australia)

Running head: RISK MITIGATION PLAN
Develop and implement risk mitigation plan: (Case Study- Development of cloud-based ERP
system in Studer Group, Australia)
Name of the Student
Name of the University
Author’s Note

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RISK MITIGATION PLAN
Table of Contents
Task 1- Risk mitigation plan......................................................................................................2
Risk management plan...........................................................................................................2
1. Executive Summary.......................................................................................................2
2. Introduction....................................................................................................................2
3. Risk assessment..............................................................................................................2
4. Risk mitigation...............................................................................................................6
5. Risk monitoring..............................................................................................................9
6. Roles and responsibilities.............................................................................................10
Bibliography.....................................................................................................................12
Appendix: Risk Register..................................................................................................14

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RISK MITIGATION PLAN
Task 1- Risk mitigation plan
Risk management plan
1. Executive Summary
The paper mainly focuses on the risk management plan that is undertaken for the
project “development of cloud-based ERP system within Studer Group, Australia”. It is found
that the risk management plan is mainly developed in order to analyze as well as assess the
risks as per their likelihood and impact so that the risks can be prioritized as per their impact
on the project. The risk management plan that is developed generally identifies, asses as well
as monitors the risk of the project. In addition to this, the stakeholders of the project also play
an important role in mitigating the project risk and challenges.
2. Introduction
The paper mainly reflects on the risk management plan that is generally developed for
analyzing the risks that are generally associated with the project “development of cloud-based
ERP system in Studer Group, Australia”. It is found that the main purpose of developing the
risk management plan is to analyze the level of risks and challenges which are related with
the project in order to manage the risks in a very much structured way so that the threats that
are associated with the project can be managed. The main approach of risk management
within the project “development of cloud-based ERP system in Studer Group, Australia” is to
asses, monitor as well as mitigate the risks of the project by analyzing their likelihood and
impact.
3. Risk assessment
3.1 Risk identification
Risk identification is one of the process that helps in determining the risks or threats
that can impact the project negatively. In this project “development of cloud-based ERP

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RISK MITIGATION PLAN
system within Studer group”, it is found that all the risks that are associated with the project
are identified. In order to identify the risks, the methods that are generally used by the
project managers includes brainstorming, session with the staffs and well as by scanning
which is done with the help of the project managers. The risks that are generally identified
are mainly listed in the table that is given below:
Risks Identification
process
Categories of
risk
Time of
occurrence of
risk
identification
Stakeholder
involved
Improper
scheduling
Scanning by
project manager
Project risk During project
progress
Project
manager
Budget shortfall Session with
staffs
Financial risk During progress
of the project
Financial
manager
Improper testing
of infrastructure
Session with
staffs
Technical risk After
development
phase
Tester
Inappropriate
management
Brainstorming Operational
risk
During the
project progress
Operational
manager
Hiring
inexperienced
team members
Scanning by
project manager
Human
resource risk
During the
project progress
Hr. manager
3.2 Analysis and evaluation
It is found that after the risks that are associated with the development of cloud-based
ERP system is identified then the likelihood of the risks are identified for analyzing their
impact on the project. It is found that the impact of the project risks is properly analyzed for