BN205 Project Management Risk Plan

This assignment is a risk management plan for a project in the IT field, specifically addressing the challenges faced by a project manager at Silicon Forest State University (SFSU). The plan details risk identification, analysis, and response strategies. It uses a case study involving the replacement of the university's front-end ticketing software ('Remedy') with 'Request Tracker'. The plan outlines the process of identifying both risks and opportunities, analyzing their likelihood and consequences, and developing mitigation plans. The document includes a risk register, a risk analysis matrix, and proposed responses for identified risks, including communication improvements and resource allocation. The plan emphasizes the importance of monitoring and controlling risks throughout the project lifecycle and justifies its approach by highlighting its comprehensiveness and proactive nature. The conclusion summarizes the plan's effectiveness in addressing potential project challenges.

BN205 Project Management
Risk Management Plan
Student’s Name:
17Name of University

BN205 Project Management
Executive summary
The report is prepared on the basis of the case provided for understanding the issues being faced by the
project manager while executing project in IT field and access the probable risks during the phases.
Discussed the basics of risk management plan, with example by identifying few risk and opportunity and
then after properly analyzing the mitigations plans are also defined.
Table of Contents
Introduction.................................................................................................................................................2
Background of the case study......................................................................................................................2
Risk Management Plan................................................................................................................................2
Risk Identification........................................................................................................................................3
Risk Analysis [5]...........................................................................................................................................3
Risk responses plan for identified risks........................................................................................................4
Monitoring and Controlling Risks................................................................................................................5
Justification of risk management Plan.........................................................................................................5
Conclusion...................................................................................................................................................5
References...................................................................................................................................................6
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BN205 Project Management
Introduction
Risk management is the technique we need to use in project management to control the three
constraints of the project that is the time, the scope and the cost1. This risk management plan provides
a technique or step to control the changes in the scope, the time and the cost from getting overrun.
Background of the case study
OIT (Office of Information Technology) of SFSU (Silicon Forest State University) use ticketing software to
track and report the bugs which gets generated in all the departments in the university. The front end
users were using Window based ‘Remedy’ software, but the back end users uses UNIX based software
‘Request Tracker’. Because of which the transfer of information between front and back end need to be
done manually entering the data from ‘Remedy’ to ‘Request Tracker’. So, it was decided by head of the
department of USS (User Support Services) to replace the ticketing software of front end user by
‘Request Tracker’. The project was supervised by Ron Bashley, additionally he was responsible for
creating interfaces and Harry Bonnett for replacing the by ‘Request Tracker’. So the project scope is to
replace the ‘Remedy’ by ‘Project Tracker’ system.
Risk Management Plan
The dangers in any undertaking are overseen on the premise of the procedures characterized in the risk
and hazards administration design. The activities which includes in the preparation of risk management
plan are ‘Identification of Risk’, ‘Risk Analysis’, ‘Risk Monitoring’ and ‘Risk Mitigation’2. The risks are of
two types, one is positive risk which is the opportunities and we must always adopt procedure to
explore for the maximization and the negative risks are the risk for which mitigation plan is done. The
risks can be of many types, and capable of effecting cost, schedule, quality, technical, contractual,
procurement, policies etc.3. The ultimate aim of the plan is to set the mitigation action plan for all the
identified risks specially the high or medium-high zone4. There are various types of risks mitigation
processes or steps which need to be followed to for the proper mitigation planning. There can be mainly
four types of response after the assessment of risks are done, ‘Avoidance’, ‘Acceptance’, ‘Mitigation’
and ‘Deflection’.
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BN205 Project Management
Risk Identification
Recognizable proof of dangers should be done insightfully to get to the entire circumstance of the task
and look past the limits and out of the case considering. The maximum detailed identification of risks
needs to be done. While identifying risk it must be kept in mind that the risks will not delay the project
unless it is identified and mitigation planning done, but the threat will remain with those which are yet
to be identified if could not be identified. Accordingly all the probable list of risks (positive or negative)
needs to be documented in register.
Risk / Opportunity Identification
Nu
mb
er
Date
Logged
Raised
By
Status Type Description and Cause
1 24/08/201
7
Ron Open Risk There is a risk of making some miss communication
during the project phase due to the non-using of
'Remedy' software in the front end user group
2 24/08/201
7
Ron Open Risk There is a risk of non-delivery of the e-mail sent from
end use group to back end group for some bug
rectification
3 24/08/201
7
Harry Open Oppor
tunity
There is an opportunity of improving the
communication and minimizing any errors between
the users and back end by the implantation of
'Request Tracker' all over throughout the
departments of the university. So if doing the user
interface and replacement of the software 'Remedy'
could be expedited, the communication can be made
easier well before six months of time
4 24/08/201
7
Pike Open Risk There is a risk of slipping the delivery date because of
taking so much time in gathering the requirements
from the users
Risk Analysis 5
Risk / Opportunity Analysis
Number Description and Cause Likelihood Consequence
1 There is a risk of making some miss communication during
the project phase due to the non-using of 'Remedy' software
in the front end user group
Almost
Certain Major
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BN205 Project Management
2 There is a risk of non-delivery of the e-mail sent from end use
group to back end group for some bug rectification Possible Major
3 There is an opportunity of improving the communication and
minimizing any errors between the users and back end by the
implantation of 'Request Tracker' all over throughout the
departments of the university. So if doing the user interface
and replacement of the software 'Remedy' could be
expedited, the communication can be made easier well
before six months of time
Possible Moderate
4 There is a risk of slipping the delivery date because of taking
so much time in gathering the requirements from the users Possible Major
So after plotting it in the matrix


Insignificant Minor Moderate Major Critical
 C o n s e q u e n c e 
Almost
Certain Risk No. 1
Possible Opportunity
No. 3
Risk No. 2
&
Risk No. 4
L i k e l i h o o d
Unlikely
Likely
Rare
Risk responses plan for identified risks.
Following actions can be taken to increase the opportunity and decrease the threat:
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BN205 Project Management
Risk No. 1 (Extreme Risk): the risk must be avoided at any cost to avoid raise of any major issue during
the project phase. So, review meeting frequency need to be increased for personal interaction an avoid
any miss communication
Risk No. 2 (High): any major issue which has been sent through e-mails must again be verified verbally
over phone regarding its receipt
Opportunity No. 3 (Medium): more dedicated team members need to be involved and assets should be
expanded if conceivable from some division for the task stage.
Risk No. 4 (High): need to avoid by increasing the resources in the project
Monitoring and Controlling Risks
The risks identified need to be discussed first in all review meetings so that the issues can be tracked
throughout the project life cycle and whenever felt is going serious, some extra measures need to be
taken to again reduce the possibility and impact of the negative risk.
At the same time if any other risks come in to mind of any team members, it must be documented first n
the register and then traced according to the earlier risks too after doing the proper analysis and
mitigation plan.
Justification
This plan has captured all the required parameters for analyzing it properly and monitor during the
project phase by discussing the issue or the opportunities first during all the weekly review meetings so
that it gets the maximum importance among all stakeholders. In case of change in status of any risks or
opportunities, it need to be informed to all the related team members.
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BN205 Project Management
Conclusion
This is to conclude the whole report is developed on the basis of the risks and the opportunities being
identified which the team can faces in execution stage. Then the analysis is performed in the best
possible manner, although the numbers of risks in the register are less, but it can be increased by
collecting further data from other team members too. The mitigation plans are also strong enough to
counter the risks and enhance the opportunity.
References
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[1] Rajman Md. Rawi. (2013, December) Project Risk Identification for New Project Manager. [Online].
https://www.projecttimes.com/articles/project-risk-identification-for-new-project-manager.html
[2] mark Piscopo. (2017) Risk Management Plan. [Online].
http://www.projectmanagementdocs.com/project-planning-templates/risk-management-
plan.html#axzz4qmTwRGbJ
[3] et al. Wiley. (2017) 11.2 Risk Management Process. [Online]. https://pm4id.org/chapter/11-2-risk-
management-process/
[4] Science Enginerng Medicine. (2017) Chapter: 5 Risk Mitigation. [Online].
https://www.nap.edu/read/11183/chapter/7#51
[5] Sidharth Thakur. (2015, June) A Critical Tool for Assessing Project Risk. [Online].
http://www.brighthubpm.com/risk-management/88566-tool-for-assessing-project-risk/
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