Multi Faceted Risk Management Project

Risk management is an important element in managing information systems. Applying risk management principals to business procedures is essential because it helps organizations design and maintain a safe systems environment to ensure the confidentiality, integrity, and availability of company data. Kudler Fine Foods has expressed an interest in developing an Enterprise Resource Planning (ERP) system. The primary objective is to improve business administration by integrating stores and business systems. Kudler Fine Foods has three stores in California and integrating business

Teams are an integral component of organizational success. They take on many forms and functions and can have various structures. Teams also conduct a wide variety of projects with goals of innovation or mitigation. An example, from my experience, of a project that required the execution from a team was the establishment of a finished goods inventory program within a paper manufacturing company. A project of this magnitude required that a diverse and multifaceted team be assembled.

Whilst on placement with the Aberdeenshire Council Children and Families Team I adhered to the lone working policy to ensure my safety when out of the office working with clients. To minimise risks, in line with this policy I have my mobile phone with me at all times and ensure I write my day to day diary on the office board with names, times and addresses of where I will be going, and notify staff of my where-a-bouts (Aberdeenshire Council 2014).

Risk management includes the “overall decision-making process of identifying threats and vulnerabilities and their potential impacts, determining the costs to mitigate such events, and deciding what actions are cost effective to take to control these risks” (Conklin et al, 2012, pg. 678). For the proper development of risk management techniques, every person at every level of the organization, especially those involved in the Information Security (IS) department “must be actively involved in the following activities:

There are many risks that can occur during any project, this is why it is important for the project manager to be on top of the tasks at hand. In the Wilmont’s and Dronetech project combining two companies to make a brand new product can already be complicated enough. When the company sets more guidelines in the project like the budget, timeframe, and customer expectations can make it even more difficult to get the job down. This is why having a project manager and a worthy team behind them to get the job done within all the requirements.

Increase urbanization, adverse weather incidence due to climate change, constant threats from terrorists, etc. calls for the need to re-evaluate our city risk analysis plan and risk communication plan. This will enable the city residents, and city businesses prepare for the adverse effects of disasters such as a hurricane. Due to the closeness of this city to the coastline, any serious hurricane incidence will have a serious damage to the city infrastructures such as airport and seaport facilities, oil refineries, military installation, and even create unforeseen contaminations. Knowing that it will not be possible to completely eradicate all the risks associated with natural disaster like a hurricane, there will be need to develop a risk

Risk is defined as an event that has a probability of occurring, and could have either a positive or negative impact to a project should that risk occur. Project managers should keep a watchful eye on all of the project 's risks as they have a direct impact on a project’s cost, schedule, and performance. All projects assume some element of risk, and it’s through risk management where tools and techniques are applied to monitor and track those events that have the potential to impact the outcome of a project.

Scenario: You are leading during the second day of the Self Reliant Camp in the Coffin Bay National Park. While exploring in the Pt. Whidbey Wilderness Area during lunchtime, one of the group was bitten by a snake just above the right ankle. They are complaining of pain and nausea, there are two puncture marks on the right foot.

We use a holistic approach that addresses all aspects of your security and operational risks for the most robust protection. Because security risks are

Everything in life, at some point carries a certain level of risk based on a decision or choice made to meet a specific goal. Things taken for granted such as driving from one point to another or shopping at your local grocery store carry certain risk. The variables that affect the level of risk range from low to extreme. The issue with risk is there never is an absolute number of mitigating solutions that will neutralize risk 100% of the time. If something was essentially risk free, there would be no room for error or consequence. Unfortunately, the reality presented is not allowing for that level of perfection. Risk is weighed by the level of threats presented versus the consequences from choices made, level of vulnerability left to exploit from those threats and target acquisition and accessibility. This sounds complex but by the very definition, risk is the amount of gain obtained while accepting certain consequences that may pose a problem in success of a decision or choice. Strategic Planning, Resource allocation and Grant Funding, etc are all building blocks of Risk Management in the Homeland Security Enterprise. The Department of Homeland Security is a culmination of several agencies that work separately but have one common goal. The principles that bind the agencies together in the Homeland Security matriarch is unified in both agenda and response. It is a ladder for progression in action and leadership as threats and vulnerabilities present themselves that allow

Definition: A Risk is an unwanted situation which might arise in an organization which might lead to negative impact on the desired result. Risk management plans involves the analyzing, managing and evaluating the projects risk and threats. It involves layout of the entire project i.e from the beginning during and after results of the project.

In addition to reading the course notes, I also looked at what APMBOK (Association for Project Management, Body of Knowledge 2009, 6th Edition, UK) said about this critical area of Project Management. Additionally, I researched what my Company does to maximize their effectiveness in this area by studying their attitude towards Risk Management throughout the complete life-cycle of a project, and finally I drew from my own knowledge and experiences in this critical area.

The completion of any project depends on the execution of various parameters mostly set at the beginning of the project. In order to complete the project to satisfactory levels, the project must be completed within the stipulated timelines, fall within the approximate budget and be of the required quality standards. However, most of the projects are affected by adverse changes and unforeseen events that occur during the execution period. Research shows that the magnitude of change is dependent on the size of the project, with large projects experiencing more uncertainties due to several factors including; planning and design complexity, interest groups having deferring opinions, resource availability, Economic and political climate and statutory regulations, which may necessitate change of plan. Most of the uncertainties are known to occur in the concept phase and if not intervened, they may affect the entire project. The burden falls on the management of such risk as some managers choose to ignore the uncertainties since they call for additional costs. Other inherent risks may go unnoticed and therefore remain unsolved,

Good security management requires risk management to mitigate or reduce risk to an acceptable level within an organization. Security management’s objective is to protect the company and its assets. A proper risk analysis will identify the company’s major assets, threats that put those assets at risk, and estimate the possible damage and loss a company may endure if any of the threats were to become real. With a good risk analysis, management can determine the type of budget they want to set to mitigate threats. Risk analysis justifies the cost of the countermeasures against the threats and determines the benefit or worth of security

One well accepted description of risk management is the following: risk management is a systematic approach to setting the best course of action under uncertainty by identifying, assessing, understanding, acting on and communicating risk issues. In order to apply risk management effectively, it is vital that a risk management culture be developed. The risk management culture supports the overall vision, mission and objectives of an organization. Limits and boundaries are established and communicated concerning what are acceptable risk practices and outcomes. Since risk management is directed at uncertainty related to future events and outcomes, it is