Risk Management Report: CitiStore Website Development Project Analysis
VerifiedAdded on 2020/04/29
|29
|4866
|318
Report
AI Summary
This report delves into the risk management strategies employed for the CitiStore website development project. It begins by establishing the context of the risk management plan, followed by outlining the risk management framework. The report then analyzes the scope, stakeholders, and communication plan, identifying strengths and weaknesses through PEST and SWOT analyses. A crucial part of the report involves the identification and analysis of potential risks, documented in a risk register and matrix. Furthermore, it explores various risk treatment options, implementation, and monitoring strategies. The report also covers risk monitoring, evaluation, recording, and storage policies, culminating in a risk implementation and monitoring report. The analysis considers factors like poor website design, exposure of email addresses, broken links, and the absence of a mobile version, along with various project risks, providing a comprehensive overview of risk management in the context of website development.

Running head: RISK MANAGEMENT
Risk management-Citi stores website development project
Name of the student
Name of the university
Author Note:
Risk management-Citi stores website development project
Name of the student
Name of the university
Author Note:
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser

2
RISK MANAGEMENT
Table of Contents
Context of the Risk Management Plan............................................................................................4
Task 1: Risk Management Framework............................................................................................4
Task 2: Scope and Stakeholders......................................................................................................5
Communication Plan.......................................................................................................................5
Task 3: Strengths and Weakness...................................................................................................10
PEST Analysis...............................................................................................................................10
SWOT Analysis.............................................................................................................................11
Task 4: Risk Identification.............................................................................................................12
Task 5: Risk Analysis....................................................................................................................14
Risk Register..................................................................................................................................14
Risk Matrix....................................................................................................................................17
Task 6: Risk Treatment Options and Risk Implementation and Monitoring.................................17
Part B.............................................................................................................................................23
Task 7: Risk Monitoring and Evaluation.......................................................................................23
Task 8: Recording and Storage Policy...........................................................................................24
Preamble........................................................................................................................................24
Document Retention Policy...........................................................................................................24
Task 9: Risk Implementation and Monitoring Report...................................................................24
RISK MANAGEMENT
Table of Contents
Context of the Risk Management Plan............................................................................................4
Task 1: Risk Management Framework............................................................................................4
Task 2: Scope and Stakeholders......................................................................................................5
Communication Plan.......................................................................................................................5
Task 3: Strengths and Weakness...................................................................................................10
PEST Analysis...............................................................................................................................10
SWOT Analysis.............................................................................................................................11
Task 4: Risk Identification.............................................................................................................12
Task 5: Risk Analysis....................................................................................................................14
Risk Register..................................................................................................................................14
Risk Matrix....................................................................................................................................17
Task 6: Risk Treatment Options and Risk Implementation and Monitoring.................................17
Part B.............................................................................................................................................23
Task 7: Risk Monitoring and Evaluation.......................................................................................23
Task 8: Recording and Storage Policy...........................................................................................24
Preamble........................................................................................................................................24
Document Retention Policy...........................................................................................................24
Task 9: Risk Implementation and Monitoring Report...................................................................24

3
RISK MANAGEMENT
References......................................................................................................................................28
RISK MANAGEMENT
References......................................................................................................................................28
⊘ This is a preview!⊘
Do you want full access?
Subscribe today to unlock all pages.

Trusted by 1+ million students worldwide

4
RISK MANAGEMENT
Context of the Risk Management Plan
The report is based on the risks involved in managing a website of the organization. The
researcher has selected Citistore, the largest departmental store of Hong-Kong. Websites play a
major role in the development of a company. A proper website helps the management to create a
brand value and increase the communications between the service users and the service
providers. The websites also provide a detailed awareness on the articles that are on sale and the
other types of services that are provided by the organization, share the knowledge and generate
support for the organization. The website is also integral to the operations of the organization.
The modern day websites of an organization are generally integrated with CRM software to
increase their efficiency and make them user friendly. Websites are also considered to be the
epicenter of organizational strategy as they serve as a welcome note for the audiences of the
organization. Citistore has a dedicated website that caters to all the demands of the customers
and also serves the purpose of the company for having a positive impact on the growth of the
organization. Websites generally faces a lot of problems. Experts believe that it is much more
difficult to maintain a website properly than to create one of them. Although the modern day
technologies have acted as a boon for developing the websites on modern lines with the
implementation of the latest technology, there are also some potential threats to the stability of
the websites as serious harm can be done to these websites.
Task 1: Risk Management Framework
There are different frameworks that can be followed to mitigate the risks involved in
maintaining a certain website of an organization. Some of them are;
RISK MANAGEMENT
Context of the Risk Management Plan
The report is based on the risks involved in managing a website of the organization. The
researcher has selected Citistore, the largest departmental store of Hong-Kong. Websites play a
major role in the development of a company. A proper website helps the management to create a
brand value and increase the communications between the service users and the service
providers. The websites also provide a detailed awareness on the articles that are on sale and the
other types of services that are provided by the organization, share the knowledge and generate
support for the organization. The website is also integral to the operations of the organization.
The modern day websites of an organization are generally integrated with CRM software to
increase their efficiency and make them user friendly. Websites are also considered to be the
epicenter of organizational strategy as they serve as a welcome note for the audiences of the
organization. Citistore has a dedicated website that caters to all the demands of the customers
and also serves the purpose of the company for having a positive impact on the growth of the
organization. Websites generally faces a lot of problems. Experts believe that it is much more
difficult to maintain a website properly than to create one of them. Although the modern day
technologies have acted as a boon for developing the websites on modern lines with the
implementation of the latest technology, there are also some potential threats to the stability of
the websites as serious harm can be done to these websites.
Task 1: Risk Management Framework
There are different frameworks that can be followed to mitigate the risks involved in
maintaining a certain website of an organization. Some of them are;
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser

5
RISK MANAGEMENT
1. The citistores website must be designed and formulated in such a way that it follows all
the relevant rules and procedures of the country where it operates. In Australia it is bound
to abide by the Australia Protective Security Policy Framework and the Australian
Information Security Manual which is formulated for ensuring the security of the IT
infrastructure of the different corporate as well as government institutions.
2. The AZ/NZS ISO: 2009 is a certain framework that determines the risk in the context of
the security of the stored information of the organization. Risk is said to be the effect of
uncertainty on the goals of the project. The following framework defines risk to be
considered in a serious manner to eliminate and reduce the risks.
Task 2: Scope and Stakeholders
The risk management process is based upon the development of the new website and its
proper maintenance and functioning. The following management will be based on the
Communication Plan
Group
Participants
Name of
stakeholder
and position
(internal or
external)
Role in risk
management
process
Issues or concerns
raised
Method of
communicatio
n
When and
how often
Managing
director
To
formulate
and
manage
risk
manageme
nt
framewor
Financial matters takes
in the requirements of
budgets, cash flow,
obligations for tax,
management related to
creditor and debtor,
along with general
account and
E-mails,
meetings,
memos
Weekly
RISK MANAGEMENT
1. The citistores website must be designed and formulated in such a way that it follows all
the relevant rules and procedures of the country where it operates. In Australia it is bound
to abide by the Australia Protective Security Policy Framework and the Australian
Information Security Manual which is formulated for ensuring the security of the IT
infrastructure of the different corporate as well as government institutions.
2. The AZ/NZS ISO: 2009 is a certain framework that determines the risk in the context of
the security of the stored information of the organization. Risk is said to be the effect of
uncertainty on the goals of the project. The following framework defines risk to be
considered in a serious manner to eliminate and reduce the risks.
Task 2: Scope and Stakeholders
The risk management process is based upon the development of the new website and its
proper maintenance and functioning. The following management will be based on the
Communication Plan
Group
Participants
Name of
stakeholder
and position
(internal or
external)
Role in risk
management
process
Issues or concerns
raised
Method of
communicatio
n
When and
how often
Managing
director
To
formulate
and
manage
risk
manageme
nt
framewor
Financial matters takes
in the requirements of
budgets, cash flow,
obligations for tax,
management related to
creditor and debtor,
along with general
account and
E-mails,
meetings,
memos
Weekly

6
RISK MANAGEMENT
k on a
global
level
To ensure
implement
ation of
risk
administra
tion
structure
and
developm
ent and
ongoing
risk
estimation
of risks
remuneration
management
apprehensions.
Regarding equipments
it generally extends to
the usage of the
equipment in
conducting of the
business and inclusive
of the regular
continuance and
convention, theft
safety and upgrades.
For organizational
perspectives it relates
to the internal needs of
the business, extending
to the structural,
cultural along with
human resources
relevant to the
business.
Security factor takes in
the premises of the
business, people and
the assets. It also
extends the security
purpose of the
information of
company, intellectual
possessions along with
technology.
Legal and regulatory
observance takes into
account the factors of
regulations, legislation,
and practice codes
along with contractual
needs. It also extends
for conformity with
added ‘rules’ like the
RISK MANAGEMENT
k on a
global
level
To ensure
implement
ation of
risk
administra
tion
structure
and
developm
ent and
ongoing
risk
estimation
of risks
remuneration
management
apprehensions.
Regarding equipments
it generally extends to
the usage of the
equipment in
conducting of the
business and inclusive
of the regular
continuance and
convention, theft
safety and upgrades.
For organizational
perspectives it relates
to the internal needs of
the business, extending
to the structural,
cultural along with
human resources
relevant to the
business.
Security factor takes in
the premises of the
business, people and
the assets. It also
extends the security
purpose of the
information of
company, intellectual
possessions along with
technology.
Legal and regulatory
observance takes into
account the factors of
regulations, legislation,
and practice codes
along with contractual
needs. It also extends
for conformity with
added ‘rules’ like the
⊘ This is a preview!⊘
Do you want full access?
Subscribe today to unlock all pages.

Trusted by 1+ million students worldwide

7
RISK MANAGEMENT
processes and policies
that might be set by the
contracts, social
environment or the
customers.
The factor of
reputation entails the
reputation threat of the
business for the
conducting of the
entity on whole, the
feasibility of the
services along with the
products or the
conducting of the
employees or certain
others connected with
business.
Project
manager
Ensure
implement
ation and
complianc
e with the
risk
manageme
nt policy
and
process
Operational factors
takes in the regular
planning along with
activities of operations
inclusive of people
and supporting the
obligatory within the
business resulting in
successful
improvement and
liberation of products
and services.
Contractual –
Obligations related to
meeting required
within a contract takes
in quality of product or
service, delivery,
warranties and
guarantees,
requirements related to
statutory and insurance
and non-performance.
E-mails Weekly
RISK MANAGEMENT
processes and policies
that might be set by the
contracts, social
environment or the
customers.
The factor of
reputation entails the
reputation threat of the
business for the
conducting of the
entity on whole, the
feasibility of the
services along with the
products or the
conducting of the
employees or certain
others connected with
business.
Project
manager
Ensure
implement
ation and
complianc
e with the
risk
manageme
nt policy
and
process
Operational factors
takes in the regular
planning along with
activities of operations
inclusive of people
and supporting the
obligatory within the
business resulting in
successful
improvement and
liberation of products
and services.
Contractual –
Obligations related to
meeting required
within a contract takes
in quality of product or
service, delivery,
warranties and
guarantees,
requirements related to
statutory and insurance
and non-performance.
E-mails Weekly
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser

8
RISK MANAGEMENT
Service delivery – It is
generally been related
to the service delivery,
inclusive of the service
quality that is been
provided or in the
manner in which a
product is being
delivered. It takes in
interaction of
customers and service
that is generally after-
sales.
Risk manager To define
the risk
manageme
nt policy
and
implement
manageme
nt
strategies
and
policies
Commercial – It
includes the risks
connected with the
placement of the
market, growth of the
business, development
of product along with
commercial
achievement.
Also the commercial
feasibility of the
products and services
that is generally
enlarging through the
enterprises, retention
along with growth of
the base of customers
and return.
Project – It takes in
equipment
management, finances,
technology, resources
along with the people
who are involved
within the
management process
of projects. Pulling out
the operational
projects of internal
nature, development of
E-mails,
meetings
Weekly
RISK MANAGEMENT
Service delivery – It is
generally been related
to the service delivery,
inclusive of the service
quality that is been
provided or in the
manner in which a
product is being
delivered. It takes in
interaction of
customers and service
that is generally after-
sales.
Risk manager To define
the risk
manageme
nt policy
and
implement
manageme
nt
strategies
and
policies
Commercial – It
includes the risks
connected with the
placement of the
market, growth of the
business, development
of product along with
commercial
achievement.
Also the commercial
feasibility of the
products and services
that is generally
enlarging through the
enterprises, retention
along with growth of
the base of customers
and return.
Project – It takes in
equipment
management, finances,
technology, resources
along with the people
who are involved
within the
management process
of projects. Pulling out
the operational
projects of internal
nature, development of
E-mails,
meetings
Weekly

9
RISK MANAGEMENT
business and the
external projects like
those assumed for the
clients.
Safety – It takes into
account everyone who
is generally allied with
the business like the
individual, public
safety and workplace.
It also applies to the
cover of the products
or the services that is
being delivered by the
business process.
Junior
supervisor
To
participate
in the
review
and
update of
operationa
l risks
To ensure
that the
risks are
properly
identified,
managed
and
monitored
Workplace safety –
Every business possess
a duty of care that is
being underpinned by
the legislation elated
to State and Federal
agencies. This takes in
the sensible steps that
need to be taken for
protection of the
healthy and safety
measures of everyone
positioned at
workplace.
Occupational health
and safety is
incorporated with the
total strategy related to
risk management
ensuring risks and
exposures are always
recognized and
testified. Measures
should also be taken in
lessening the factor of
exposure to the risks
as much as possible.
Refer to Workplace
E-mails,
meetings
Daily
RISK MANAGEMENT
business and the
external projects like
those assumed for the
clients.
Safety – It takes into
account everyone who
is generally allied with
the business like the
individual, public
safety and workplace.
It also applies to the
cover of the products
or the services that is
being delivered by the
business process.
Junior
supervisor
To
participate
in the
review
and
update of
operationa
l risks
To ensure
that the
risks are
properly
identified,
managed
and
monitored
Workplace safety –
Every business possess
a duty of care that is
being underpinned by
the legislation elated
to State and Federal
agencies. This takes in
the sensible steps that
need to be taken for
protection of the
healthy and safety
measures of everyone
positioned at
workplace.
Occupational health
and safety is
incorporated with the
total strategy related to
risk management
ensuring risks and
exposures are always
recognized and
testified. Measures
should also be taken in
lessening the factor of
exposure to the risks
as much as possible.
Refer to Workplace
E-mails,
meetings
Daily
⊘ This is a preview!⊘
Do you want full access?
Subscribe today to unlock all pages.

Trusted by 1+ million students worldwide

10
RISK MANAGEMENT
safety for more
relevant information.
Management
trainee
Ensuring
that the
risks are
properly
and timely
recorded
to
facilitate
the risk
manageme
nt
reporting
Technology – This
takes into account the
process of
implementation,
protection and
management along
with upgradation with
the technology. It is
being extended in
identifying complex
infrastructure of IT
and loss of the
exacting
function/service for an
extensive epoch of
time. It further takes in
the requirement and
cost advantage
connected with the
technology as part of
the strategy of
business development.
E-mails Daily
Customer
service
representative
s
To ensure
that
proper
services
are
provided
to the
customers
in order to
reduce the
number of
customer
complaint
s
Client-customer
relationship – Probable
loss of the clients due
to the existing internal
and external factors.
E-mails Daily
RISK MANAGEMENT
safety for more
relevant information.
Management
trainee
Ensuring
that the
risks are
properly
and timely
recorded
to
facilitate
the risk
manageme
nt
reporting
Technology – This
takes into account the
process of
implementation,
protection and
management along
with upgradation with
the technology. It is
being extended in
identifying complex
infrastructure of IT
and loss of the
exacting
function/service for an
extensive epoch of
time. It further takes in
the requirement and
cost advantage
connected with the
technology as part of
the strategy of
business development.
E-mails Daily
Customer
service
representative
s
To ensure
that
proper
services
are
provided
to the
customers
in order to
reduce the
number of
customer
complaint
s
Client-customer
relationship – Probable
loss of the clients due
to the existing internal
and external factors.
E-mails Daily
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser

11
RISK MANAGEMENT
Task 3: Strengths and Weakness
PEST Analysis
Political Economic
The regulations of web data security in
different countries
The policies of the company and the
country on web security
Increase in reputation leads to increase
in revenue
Proper Savings from displaying other
web contents like advertising
Social Technological
Different social media sites can be
helpful to interact with the service
users
Customers voice their concerns which
are addressed with the help of social
media
Latest technology to maintain the
website
Use of Cloud technology helps to bring
modern features and efficiency
SWOT Analysis
Strengths Weaknesses
Website must not be complex in nature
and should be easier to operate
Website must be attractive and
appealing to the service users
The failure to optimize the website for
use in phones at a age when smart
phones rules the world
RISK MANAGEMENT
Task 3: Strengths and Weakness
PEST Analysis
Political Economic
The regulations of web data security in
different countries
The policies of the company and the
country on web security
Increase in reputation leads to increase
in revenue
Proper Savings from displaying other
web contents like advertising
Social Technological
Different social media sites can be
helpful to interact with the service
users
Customers voice their concerns which
are addressed with the help of social
media
Latest technology to maintain the
website
Use of Cloud technology helps to bring
modern features and efficiency
SWOT Analysis
Strengths Weaknesses
Website must not be complex in nature
and should be easier to operate
Website must be attractive and
appealing to the service users
The failure to optimize the website for
use in phones at a age when smart
phones rules the world

12
RISK MANAGEMENT
The long queue of confirmation
process
Opportunities Threats
The website must be simple
The language should be
understandable and must have a
translate option to a number of
different leading languages of the
world
Use of Social media in a large scale
Website hacks
Task 4: Risk Identification
Some of the most common problems that are;
1. Poor Designing- The poor designing of the websites is one of the main problems of the
industry. Unattractive websites reduces the brand value and the reputation of the
company. Designing the websites is believed to be a work of art and thus the simplicity
of the websites makes the page unattractive to the customers. The absence of graphic
designing in the websites creates a constraint for the industry. Therefore designing of the
websites must be done by an expert website designer to increase the brand awareness of
the company (Amin & Hussin, 2014).
RISK MANAGEMENT
The long queue of confirmation
process
Opportunities Threats
The website must be simple
The language should be
understandable and must have a
translate option to a number of
different leading languages of the
world
Use of Social media in a large scale
Website hacks
Task 4: Risk Identification
Some of the most common problems that are;
1. Poor Designing- The poor designing of the websites is one of the main problems of the
industry. Unattractive websites reduces the brand value and the reputation of the
company. Designing the websites is believed to be a work of art and thus the simplicity
of the websites makes the page unattractive to the customers. The absence of graphic
designing in the websites creates a constraint for the industry. Therefore designing of the
websites must be done by an expert website designer to increase the brand awareness of
the company (Amin & Hussin, 2014).
⊘ This is a preview!⊘
Do you want full access?
Subscribe today to unlock all pages.

Trusted by 1+ million students worldwide
1 out of 29
Related Documents

Your All-in-One AI-Powered Toolkit for Academic Success.
+13062052269
info@desklib.com
Available 24*7 on WhatsApp / Email
Unlock your academic potential
Copyright © 2020–2025 A2Z Services. All Rights Reserved. Developed and managed by ZUCOL.