MASY1-GC1250 Project Management in the Information Age

Risk Analysis Individual Assignment – Due Date: Sunday, 6/27/2021

 

 

You are the project manager for OmniCorp’s Project Treadstone. Its goal is to create a functional, real-time operational metrics dashboard intranet application for OmniCorp’s five widget manufacturing assembly lines and all related materials to allow for the Treadstone dashboard to operate properly on an ongoing basis. The project is described further in the project scope statement accompanying this assignment.

You and your team have reached the point where you are identifying project risks and analyzing them qualitatively. Your team has decided to classify the impact and likelihood of risks according to the following categories:

Risk Categories
	Low	Medium	High
Impact	Up to $10,000 in costs and/or up to one week of schedule impact	More than $10,000 and up to $50,000 in costs and/or greater than one week but up to one month of schedule impact.	More than $50,000 in costs and/or greater than one month of schedule impact.
Likelihood	Less than 30%	30% to 60%	More than 60%

 

Your team has identified project risks, analyzed them qualitatively and provided some preliminary results in the following table: For this assignment, you are expected to complete the expected impact and expected likelihood columns based on the description of each risk in the project risks table and the agreed-upon classification of risk in the risk categories table. Indicate the type of risk response (Avoid, Transfer, Mitigate, Exploit, Share, Enhance, Accept) you would recommend and suggest any ideas for responding to the risk in the Risk Response Description column.

Risk Name	Risk Description	Expected Impact (H,M,L)	Expected Likelihood (H,M,L)	Suggested Risk Response	Risk Response Description
Subject Matter Expert Availability	The chief operating officer has informed you that one of the widget manufacturing lines is going to have to have its equipment completely overhauled just as your project is scheduled to get underway. The overhaul is expected to take five weeks to complete, and all of the assembly line managers and their staff will be unable to work with the project team during that period.
Technical Writing Firm	The project team has learned of the availability of an outside consulting firm capable of developing the application instructions, the help guide and application training materials using OmniCorp’s own TrainNet software training package. The team estimates there is a 75% chance that the use of this firm would allow the team to reduce the time needed to create the training materials by six weeks and cost roughly the same as what it would take for internal resources to do it.
Development Team Resource Constraints	The head of OmniCorp’s software development group has informed you of a competing project, which will require 50% of Project Treadstone’s lead developer’s time for two months during the project. Your team estimates if no adjustments are made, this would extend the project deadline by three weeks.
New Software Development Platform	OmniCorp’s CIO recently approved a recommendation made by the Software Engineering Department’s Technology Review Committee to mandate the use of the Angularjs web application development framework for all new web development projects, including Project Treadstone. None of the developers assigned to the Project Treadstone project are familiar with Angularjs. The project team has found out that they can provide the development team with a week of remote training with a live instructor at a total cost of $8,000.
Development and Testing Hardware	The hardware infrastructure manager has informed you that the development and testing environments for your project are currently hosted on servers which are six years old. They are beyond their manufacturing warranties and it will not be possible to purchase replacement parts for them. The manager says based on his past experience with such servers, “There’s a fifty-fifty chance they may fail within the next year.” There isn’t any other existing hardware which could be repurposed to use for the project, so new servers would have to be purchased. The estimated cost for the new servers would be $20,000, and any development and testing work would have to be shut down for two weeks while the new equipment would be set up.

 

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