Comprehensive Risk Management Report: Acme Medical Device Upgrade

This report provides a comprehensive analysis of risk management strategies for an IT upgrade project at Acme Medical Device Company. It identifies key risks across eight sectors of the project, including PMO, MIS, Finance, ESB, Security, and Infrastructure. The report employs Monte Carlo analysis using @Risk 7.5 trial version software to quantify the potential impact of identified risks and prioritize mitigation efforts. Change management processes are outlined, and a detailed risk register is included, summarizing the probability and consequences of various risks. The report concludes with recommendations for next steps, emphasizing the importance of aligning policies with the newly proposed systems while ensuring data privacy and security. Desklib is a platform where you can find similar solved assignments and past papers to aid your studies.

Running head: CONSULTANT’S RISK MANAGEMENT
Consultant’s Risk Management
Name of the Student
Name of the University
Author Note

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CONSULTANT’S RISK MANAGEMENT
Table of Contents
Executive Summary.........................................................................................................................2
Background......................................................................................................................................2
Change Management.......................................................................................................................3
Risk Management............................................................................................................................4
PMO.............................................................................................................................................4
Simulation....................................................................................................................................5
MIS..............................................................................................................................................5
Simulation....................................................................................................................................6
Finance.........................................................................................................................................6
Simulation....................................................................................................................................8
ESB..............................................................................................................................................8
Simulation....................................................................................................................................9
Security........................................................................................................................................9
Simulation..................................................................................................................................10
Infrastructure..............................................................................................................................11
Simulation..................................................................................................................................12
Summary by PLO......................................................................................................................12
Summary by Phase....................................................................................................................12
Conclusion.....................................................................................................................................13
Next Steps......................................................................................................................................13
Appendix 1.....................................................................................................................................13
Risk Register..................................................................................................................................13
Appendix 2.....................................................................................................................................17
Course Reflection..........................................................................................................................17
Bibliography..................................................................................................................................18

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CONSULTANT’S RISK MANAGEMENT
Executive Summary
Information technology has been one of the most crucial aspect for the current growth
and development of the industries as this is the only option for all the sectors to be ahead of the
other competitors. This report emphasizes on the implementation of an upgraded system that can
allow the better network connectivity and information exchange for the accomplishment of the
operational activities in an efficient and effective manner. Risks have been always the tail of
every project that cannot be extinguished however, the impact can be minimized through being
prepared for the risks and estimating prior the execution of the project. This report will cover the
eight sectors of the project and related risks and priority is being set through the application of
the Monte Carlo analysis using @Risk 7.52 trial version software.
Background
The Acme Medical Device Company has been looking for the future of the organization
and upgrade in the existing IT network has been considered as the most crucial aspect for the
successful delivery of the transformation needed for tackling the current environment of the
industry. This new implementation will also have many risks associated with the project
execution and hence, it is considerable fact to determine the severity of the risks and being
prepared for the strategies those are helpful in limiting the impacts of the identified risks. This
report will consider the eight important sectors of the project those are crucial and vulnerable to
the risks and related risks have been identified. A Monte Carlo analysis has been executed in this
report considering the identified risks and their quantitative values for the proposition of the
results those could be utilized for developing the strategies those could lead to efficient and
effective project execution.

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CONSULTANT’S RISK MANAGEMENT
Change Management
Figure 1: Change Management Processes
(Source: Created by Author)
The above demonstrated flow chart describes the change management process that needs to be
considered while executing the transformation in the existing system of the Acme Company. Two sections
have been divided for the entire process that includes change request and change status value and the
process starts with making the request for the change and follow to the review process where the changes
requests will be reviewed and permissions would be granted accordingly. Thereafter, the process move on
the assessing and planning that has three sub-processes as mentioned in the above diagram that lead to two
possibilities whether there are standard changes or not and whether they have been approved or not and if

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CONSULTANT’S RISK MANAGEMENT
the conditions move on to yes then the implementation procedure will be executed. After the verification,
implementation will be completed. Change status value will start from the prepared draft that will reaches
to approval after review that will led to the planning and implementation of the strategies those have been
planned accordingly.
Risk Management
PMO
Phase Calc Estimate Perfect Likel
y Outrageous
Planning 30.0 20 30 40
Design 20.0 15 20 25
Build 20.0 15 20 25
Test 20.0 15 20 25
Roll Out 12.0 10 12 14
Close Out 4.0 2 4 6
106.0 77.0 106.0 135.0
Probability of meeting value of 106 51.51% 106
Total budget required for 95.0% confidence 115 95%
Contingency required for 95.0%
confidence 9

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CONSULTANT’S RISK MANAGEMENT
Simulation
MIS
Phase Calc
Estimate Perfect Likely Outrage
ous Sampled
Plan 10.0 5 10 15 11.31486295
Design - Matilda v6.3
Manufacturing Planning 20.0 10 20 30 14.39791483
Design - Matilda v6.3
Manufacturing Execution 20.0 15 20 25 20.17929024
Design - Matilda v6.3 CAD 20.0 10 20 30 26.38433564
Design - Matilda v6.3 CAE 10.0 5 10 15 11.41426448
Design - Pipedrive CRM v2.2.6 4.0 2 4 6 4.890742833
Build - Matilda v6.3
Manufacturing Planning 20.0 10 20 30 19.05241141
Build - Matilda v6.3
Manufacturing Execution 20.0 10 20 30 22.42161839
Build - Matilda v6.3 CAD 4.0 2 4 6 5.277929236
Build - Matilda v6.3 CAE 4.0 2 4 6 3.569906758
Build - Pipedrive CRM v2.2.6 5.0 2 4 12 3.374377605
Test - Matilda v6.3
Manufacturing Planning 10.0 5 10 15 9.418785546
Test - Matilda v6.3
Manufacturing Execution 10.0 5 10 15 12.14546102
Test - Matilda v6.3 CAD 4.0 2 4 6 4.758033829
Test - Matilda v6.3 CAE 4.0 2 4 6 4.978134612
Test - Pipedrive CRM v2.2.6 4.0 2 4 6 3.328817578

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CONSULTANT’S RISK MANAGEMENT
Test - Matilda v6.3 and Hot
Backup 4.0 2 4 6 2.897501869
Train 10.0 4 8 24 12.56760315
Roll Out 9.0 6 9 12 7.493737012
Close Out 2.0 1 2 3 1.288440094
194.0 102.0 191.0 298.0 201.1541691
Probability of meeting value of
194 41.41% 191
Total budget required for 95.0%
confidence 210 95%
Contingency required for 95.0%
confidence 16
Simulation
Finance
Phase Calc
Estimate Perfect Likely Outrageo
us Sampled
Plan 10.0 5 10 15 9.140903869
Design - Oracle EBS v12.2.9
G/L 10.0 5 10 15 5.795458391

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CONSULTANT’S RISK MANAGEMENT
Build - Oracle EBS v12.2.9 G/L 8.0 4 8 12 6.570660004
Test - Oracle EBS v12.2.9 G/L 4.0 2 4 6 4.286114966
Test - Oracle EBS v12.2.9 G/L
and v12.2.3 A/P 4.0 2 4 6 3.535163506
Test - Oracle EBS v12.2.9 G/L
and v12.2.3 A/R 4.0 2 4 6 5.48489448
Test - Oracle EBS v12.2.9 G/L
and v12.2.3 F/A 4.0 2 4 6 4.15929623
Test - Oracle EBS v12.2.9 G/L
and Matilda v6.3 4.0 2 4 6 2.467330352
Test - Oracle EBS v12.2.9 G/L
and Hot Backup 4.0 2 4 6 4.803184161
Test - Oracle EBS v12.2.9 G/L
and Pipedrive CRM v2.2.6 4.0 2 4 6 4.852755395
Train 6.0 4 6 8 6.560832339
Roll Out 10.0 8 10 12 10.2295143
Close Out 2.0 1 2 3 2.779901245
74.0 41.0 74.0 107.0 70.66600923
Probability of meeting value of
74 47.44% 74
Total budget required for 95.0%
confidence 80 95%
Contingency required for 95.0%
confidence 6

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CONSULTANT’S RISK MANAGEMENT
Simulation
ESB
Phase Calc
Estimate Perfect Likely Outrageou
s Sampled
Planning 10.0 5 10 15 9.306947817
Design 10.0 5 10 15 9.594274851
Build - ESB and G/L 4.0 2 4 6 5.038802668
Build - ESB and A/P, A/R
& F/A 10.0 5 10 15 11.38901146
Build - ESB and HRMS 10.0 5 10 15 10.61459867
Build - ESB and Security 10.0 5 10 15 9.513632026
Build - ESB and Matilda 10.0 5 10 15 6.198391213
Build - ESB and CRM 10.0 5 10 15 10.93378658
Test - ESB and G/L 6.0 3 6 9 7.119045715
Test - ESB and A/P, A/R &
F/A 6.0 3 6 9 6.841023829
Test - ESB and HRMS 6.0 3 6 9 4.895014368
Test - ESB and Security 6.0 3 6 9 6.75665225
Test - ESB and Matilda 6.0 3 6 9 7.058649108
Test - ESB and CRM 6.0 3 6 9 5.532622325
Train 4.0 2 4 6 3.553999687
Roll Out 20.0 10 20 30 25.75037748
Close Out 2.0 1 2 3 2.437956886
136.0 68.0 136.0 204.0 142.5347869

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CONSULTANT’S RISK MANAGEMENT
Probability of meeting
value of 136 50.21% 136
Total budget required for
95.0% confidence 147 95%
Contingency required for
95.0% confidence 11
Simulation
Security
Phase Calc
Estimate Perfect Likely Outrageous Sampled
Plan 8.0 4 8 12 10.09571269
Design - IBM Cloud Security 8.0 4 8 12 7.130357288
Design - IBM Security
Intelligence and Analytics 8.0 4 8 12 9.780514944
Design - IBM Data Security 8.0 4 8 12 4.67383807
Design - IBM Network
Security 8.0 4 8 12 5.079395297
Build - IBM Cloud Security 4.0 2 4 6 3.502715271
Build - IBM Security
Intelligence and Analytics 2.0 1 2 3 2.312769557

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CONSULTANT’S RISK MANAGEMENT
Build - IBM Data Security 16.0 8 16 24 11.39156031
Build - IBM Network
Security 12.0 8 12 16 12.61765799
Test - IBM Cloud Security 8.0 4 8 12 5.17084047
Test - IBM Security
Intelligence and Analytics 8.0 4 8 12 10.08927718
Test - IBM Data Security 8.0 4 8 12 6.936401249
Test - IBM Network Security 8.0 4 8 12 9.656058974
Train 8.0 4 8 12 6.0728229
Roll Out 12.0 10 12 14 12.37185419
Close Out 2.0 1 2 3 1.90237692
128.0 70.0 128.0 186.0 118.7841533
Probability of meeting value
of 128 52.30% 128
Total budget required for
95.0% confidence 137 95%
Contingency required for
95.0% confidence 9
Simulation

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CONSULTANT’S RISK MANAGEMENT
Infrastructure
Phase Calc
Estimate Perfect Likely Outrageous Sampled
Plan 6.0 2 6 10 4.965895049
Design - 5 Servers 10.0 5 10 15 9.905187821
Design - ESB 10.0 5 10 15 7.866979553
Build - 5 Servers 10.0 5 10 15 8.706114739
Build - ESB 10.0 5 10 15 9.921604623
Test - 5 Servers 10.0 8 10 12 9.358495145
Test - ESB 4.0 2 4 6 4.461108018
Train 6.0 4 6 8 4.870521249
Roll Out 12.0 10 12 14 11.89019026
Close Out 2.0 1 2 3 1.345651549
80.0 47.0 80.0 113.0 73.29174801
Probability of
meeting value of 80 45.94% 80
Total budget
required for 95.0%
confidence
86
95%
Contingency
required for 95.0%
confidence
6