Project Risk Assessment for Mammas Bakery Expansion - Report

This project risk assessment report examines the potential risks associated with Mammas Bakery's expansion project. It identifies key threats related to IT system design, hardware procurement, and system networking, and proposes mitigation strategies to address these risks. The report details the impacts of these risks on project costs, schedules, and scope, and analyzes the costs and benefits of implementing risk mitigation plans. It includes an analysis of implementable risks and mitigation strategies, including the most expensive contingency plan involving improvements to the IT system design. The assessment also outlines the process of determining costs and impacts, and emphasizes the importance of a well-defined risk register for project success. The report concludes by highlighting the critical role of stakeholder involvement and a proactive approach to risk management in ensuring the successful completion of the project.

Running head: PROJECT RISK ASSESSMENT FOR MAMMAS BAKERY EXPANSION
Project Risk Assessment for Mammas Bakery Expansion
Name of the Student
Name of the University
Author note

1PROJECT RISK ASSESSMENT FOR MAMMAS BAKERY EXPANSION
Table of Contents
1. Threatening Risks towards the Project........................................................................................2
2. Mitigations and Risk Handling Plans..........................................................................................2
3. Impacts on Cost, Schedule and Scope.........................................................................................3
4. Determination of Costs and Impacts and Benefits of Risk Mitigation........................................4
5. Mitigation of Risks......................................................................................................................5
6. Implementable Risks and Mitigations.........................................................................................5
7. The Expensive Contingency Action/Plan....................................................................................6
8. Determination of Costs and Impacts............................................................................................7
References........................................................................................................................................8

2PROJECT RISK ASSESSMENT FOR MAMMAS BAKERY EXPANSION
1. Threatening Risks towards the Project
The risks that could be the most threatening towards the project success are:
1. Risks in relation to IT system design could be considered as widely threatening
towards the project success (Jacobsson, Boldt & Carlsson, 2016). Some associated risks included
within them are based on determining the proper form of project scope by listing all possible
inclusions and ensuring that each of the activities planned for the project along with their date of
completion would suffice to the project requirements.
2. The hardware that would be procured for the development of the website should be
properly checked. Risks could be based on their installation and inbuilt features, which might
degrade the quality of project outcomes during the time of website development (Alberts et al.,
2017). Hardware failure in the mid-way of the project could be a serious loss in quality issues
and might also delay the process of project delivery thus raising other related costs.
3. During the phase of system networking, a certain risk could arise when determining the
quality of the network that is helping towards the development of the website-based project
(Chang et al., 2015). The service provider might not be suitable and might also lack to provide
certain technical support in case there are failures arising within the network being used for the
purpose of development.
2. Mitigations and Risk Handling Plans
The mitigations and risk handling plans that should be implemented for the benefits of
the project are:

3PROJECT RISK ASSESSMENT FOR MAMMAS BAKERY EXPANSION
1. The mitigation action that would be implemented in the aspect of system design should
be properly implemented in relation to the objectives set by the company. During the
determining of the IT system design, the stakeholders should be properly signed based on their
approval (Grieves & Vickers, 2017). Moreover, the possible requirements should be gathered
efficiently and it should be ensured that the next phases of the project would be completed
successfully.
2. Mitigation actions based on risks approach towards system networking should be
planned efficiently. It should also be ensured that a proper service provider would be chosen who
would be responsible for delivering proper outcomes in terms of network resources (Arghandeh
et al., 2016). The hardware for the network should be procured with proper consultancy with the
service providers while ensuring that security aspects are being followed as per the industry
standards.
3. Website analytics should be supported within the new website. This is the most
important aspect as any miss during inputting proper values would lead to negative outcomes
after the live implementation of the website. This might have a tremendous impact to the overall
success outcomes of the project. Hence, tracking code should be embedded within every linked
pages of the website (Mani et al., 2017). This tracking code should also be implemented within
the general header file section based on monitoring every aspect of the website.
3. Impacts on Cost, Schedule and Scope
Based on the successful implementation of recommended risk controls and discussed
mitigation actions for the project, it can be discussed that these would have a major impact over
the entire scope for the project. The project would include certain objectives that need to be

4PROJECT RISK ASSESSMENT FOR MAMMAS BAKERY EXPANSION
achieved during the final outcomes (Hopkin, 2018). However, with the improved action plan,
each of the changes would be included within the project schedule. The implementation of the
actions would in turn make an impact over the project schedule as some activities would incur an
extension leading to increase in the project costs. The costs of the project would get increased as
there would be a certain increase in the project duration, which would incur the help of
stakeholders. Thus, payment made to stakeholders would increase the project costs.
The successful implementation of risk handling would improve the overall outcomes of
the project. Hence, after the proper mitigation of each of the risks from the project and successful
achievement of all objectives, it can be discussed that the project would be costing less while it
would become more successful in terms of risk handling. However, if the risks would have
overcome towards the project, then there would have been massive chances that the project
stakeholders would have to make a major time investment and remove each individual risks.
This would in turn lead to negative outcomes in terms of determining over the aspects of quality.
4. Determination of Costs and Impacts and Benefits of Risk Mitigation
Based on updating the risk register, the new activities based on risk mitigation would be
improved. Upon updating the activities and the risk mitigation plan, it can be discussed that the
activities would be improved. The number of days taken for making the necessary changes gets
updated, which further leads to increase in the costs that would be allocated for each resource.
Mitigation of risks from the project would lead to better future outcomes when the project
would become successful (Grace et al., 2015). Each of the risks that have been outlined would
lead to tremendous negative outcomes for the successful accomplishment of the website design.
Upon acting towards the mitigation of risks from the project, it can be discussed that the

5PROJECT RISK ASSESSMENT FOR MAMMAS BAKERY EXPANSION
allocated stakeholders would act upon the plans and work towards improving the aligned
processes.
5. Mitigation of Risks
Based on the allocation of $20,000 for the mitigation actions for the project, the risks that
would need to be improved and implemented would need to be decided upon viewing over the
Initial Risk Score. There are some major risks while the others are considered to be lowest
category of risks and which might pose very less impacts towards the project outcomes.
The risk score, which are above the range of 40, are generally considered to form the
most dangerous impact over the project outcomes. They could pose complications in the final
outcomes of the project and hence needs to be mitigated at the earliest with the proper
involvement of stakeholders and a well-planned strategy.
However, the risks, which are below the risk score of 40, could be considered as to be
less harmful for the project and their related outcomes. However, each of the risk management
strategy should also be designed in such a manner that it would lead to positive outcomes for the
overall project (Špačková & Straub, 2015). These strategies should also be arranged within the
estimated and allocated budget.
6. Implementable Risks and Mitigations
Upon detection on the fact that a 5 day delay could be caused due to the implementation
of the mitigation actions, it would be discussed that the risks would need to be sorted according
to the priority of the risk score. Upon determination of the priority of the risks, the number of

6PROJECT RISK ASSESSMENT FOR MAMMAS BAKERY EXPANSION
days it would be taken to mitigate them would also be need to be sorted and determined
accordingly.
The number of days that would be taken to complete the project by covering each of the
risk mitigation actions would have a major impact over the successful accomplishment of the
project. This would also enhance the system usability and stability (Meredith, Mantel Jr &
Shafer, 2017). However, covering all the aspects of the project by ensuring that no risks would
approach towards the project at the later stages is another important criterion for ensuring the
overall success over the project.
7. The Expensive Contingency Action/Plan
The most expensive contingency action/plan is the improvement strategies that would
need to be made over the IT system design. This contingency would incur an additional budget
of $45,280 and a time period of 105 days. This is considered as the most important aspect in
covering all aspects of the project and ensuring that the project would be kept on proper track. In
this risk mitigation action, each of the aspects needs to be taken care of. The determination of the
project scope, assigning of roles to each stakeholders, development of hardware list, dividing of
different requirements into various phases, documentation over the entire system and installation
phases would be determined in this step (Newcomer, Hatry & Wholey, 2015). Hence, this would
require a high amount of budget as various stakeholders would be required to determine the
overall aspects as pointed above. Thus the schedule over making the plans would also be needed
to be improved.

7PROJECT RISK ASSESSMENT FOR MAMMAS BAKERY EXPANSION
8. Determination of Costs and Impacts
Based on the determination of risks, the actions that need to be implemented in such
scenarios have been planned. After the determination of the mitigation actions, the appropriate
stakeholders had been chosen who would be able to fit for the purpose of removing the risks by
taking proper contingency actions. After determining the stakeholders, each of the costs that
would be incurred in such stages have been calculated thus helping in calculating the total cost
that would be required for the completion of the chosen actions (Alreemy et al., 2016). Hence,
from the determination of the key aspects and risks, the considered risk register would be able to
solve the critical areas of risks while leading the designing of the project towards success.

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References
Alberts, C., Haller, J., Wallen, C., & Woody, C. (2017). Assessing DoD System Acquisition
Supply Chain Risk Management. CrossTalk, 30(3), 4-8.
Alreemy, Z., Chang, V., Walters, R., & Wills, G. (2016). Critical success factors (CSFs) for
information technology governance (ITG). International Journal of Information
Management, 36(6), 907-916.
Arghandeh, R., Von Meier, A., Mehrmanesh, L., & Mili, L. (2016). On the definition of cyber-
physical resilience in power systems. Renewable and Sustainable Energy Reviews, 58,
1060-1069.
Chang, B., Kuo, C., Wu, C. H., & Tzeng, G. H. (2015). Using fuzzy analytic network process to
assess the risks in enterprise resource planning system implementation. Applied Soft
Computing, 28, 196-207.
Grace, M. F., Leverty, J. T., Phillips, R. D., & Shimpi, P. (2015). The value of investing in
enterprise risk management. Journal of Risk and Insurance, 82(2), 289-316.
Grieves, M., & Vickers, J. (2017). Digital twin: Mitigating unpredictable, undesirable emergent
behavior in complex systems. In Transdisciplinary perspectives on complex systems (pp.
85-113). Springer, Cham.
Hopkin, P. (2018). Fundamentals of risk management: understanding, evaluating and
implementing effective risk management. Kogan Page Publishers.

9PROJECT RISK ASSESSMENT FOR MAMMAS BAKERY EXPANSION
Jacobsson, A., Boldt, M., & Carlsson, B. (2016). A risk analysis of a smart home automation
system. Future Generation Computer Systems, 56, 719-733.
Mani, V., Delgado, C., Hazen, B. T., & Patel, P. (2017). Mitigating supply chain risk via
sustainability using big data analytics: evidence from the manufacturing supply
chain. Sustainability, 9(4), 608.
Meredith, J. R., Mantel Jr, S. J., & Shafer, S. M. (2017). Project management: a managerial
approach. John Wiley & Sons.
Newcomer, K. E., Hatry, H. P., & Wholey, J. S. (2015). Cost-effectiveness and cost-benefit
analysis. Handbook of practical program evaluation, 636.
Špačková, O., & Straub, D. (2015). Cost‐benefit analysis for optimization of risk protection
under budget constraints. Risk Analysis, 35(5), 941-959.