is3110 project

2.3 Implement operation plan within own area of responsibility; The operational plan that I have submitted is from my area of responsibility, this has been devised by using the organisational strategy and working out my areas on responsibility. This allows me to have an end goal and then I need to plan how to achieve it. Once this is done I can work out a step by step plan of what needs to be done and by whom. This is all added to the plan along with any other obligations that will arise like staff supervision and appraisals and monitoring. I can then arrange the plan so that it is ordered by

For the case study provided with this Assessment Task, you are required to review risk management processes and determine scope and objectives, taking into account stakeholder input and both internal and external environmental factors affecting the organisation. With the information gathered, you are

The following short case will give you a good idea of how risks surface in business and project planning and what companies do about it. Consider that you are the Risk Manager as you look at this case, as it will be a good exercise for the time when you will be that Risk Manager!

The course text discusses AS/NZS 4360 approach, which consists of a 5-phase process to manage and control risk. According to the text the risk management process phases are establish context, identify, establish and treat risk while continuously communicating, monitoring and reviewing risk (Cooper, 2005). The premise of risk management is to uncover and understand as much as possible about risks as early in the project as possible. The more one knows about risks the easier it is to make decisions for correct responses. The alternative to risk management is crises management, which in many instances is more costly, and more time consuming. Clements & Gido define a project as “an endeavor to accomplish a specific objective through a unique set of interrelated tasks and the effective utilization of resource “(Gido 4). I had many opportunities to develop a Military Retirement Ceremony, so I decided to approach it as a project risk management plan. At the time I did not know it but we were using the project risk management approach discussed in the text to address the risk associated with the event. The Military Retirement Ceremony project planning began the same as most projects do by determining the objectives. The objectives are described in terms of deliverable, schedule and budget. The sponsor and the customer must agree upon the scope of any project. In this project I worked along side the sponsors.

This plan includes a short summary of the most important data obtained from the BIA, such as the business unit, responsible manager, process/business function, recovery time objective (RTO), and estimated daily financial losses. Have it approved by senior management. Why? Because it will almost certainly require funding, and your senior management needs to know at least the estimated cost before they can approve it.

The spending procedure is the way an association approaches building its financial plan. BGOA (2017) planning process connects with the individuals who oversee sticking to the financial plan and actualizing the association's targets in making the financial plan. Both board of trustees and ranking staff investment is incorporated with the procedure and a course of events is set up leaving sufficient time for consider, audit, input, amendments, and so on before the financial backing is prepared for introduction to the full load up. The BGCA yearly planning procedure ought to be reported, with errands, obligation assignments and due dates plainly expressed. A decent planning process additionally joins vital arranging activities and stipulates

Identify the potential risks which affect the company and manage these risks within its risk appetite;

Risks management is an important step during the process of a project. Failing to manage a risk may result in unforeseen event happening and a project’s failure. For example, with limited budget, an unforeseen event or an accident occurs in the middle of a project and this matter has not been considered and needs a big sum of expense, then the project may be stopped because of this unexpected event. We should know it is necessary to understand how to identify risks and assumptions based on the information. After identifying risks, it is important for project managers to set contingency plans to prevent and deal with these risks when they occur. Of course, several problems may happen during considering

It is used as a means of input to the risk management plan processes (Heldman, 2005). It usually helps the project managers and the project team to recognize the components of a project that are at risk or certain risks that are unique to a specific area of the project than compared to a risk that is commonly found throughout the project. There also various qualitative analysis that can be used to in identifying and analyzing risk in a project. The method of qualitative risk analysis involves the assignment of a numeric value to the scales. This risk analysis is normally used for projects that are larger and that risks have a greater and more significant impact (Heldman, 2005). There are various software tools and methods that can be used, an example would be the use of Monte Carlo analysis for calculating values for projects that are large and difficult. There are various values that are assigned to the magnitude or intensity of the risk, for example, High-.80, Medimum-.50, Low-.10; these are used to rate and prioritize the risks (Heldman, 2005). A risk registry is also an essential documentation that can be used analyze the quantitative aspect related to risk and threats that are found throughout the project. The Risk Breakdown Structure is created to identify the various risks categories in the project so that they can be in the prioritized response plan (Heldman,

Create a professional report detailing the information above as an initial draft of the risk

4. Identify the initial categories of risk (RBS Level 1 and 2) that you see as being present in the case study using the Example Risk Checklist (Figure A-2, Hillson & Simon text).

After completing the RA plan and Risk Mitigation Plan for DLIS, senior management has now decided to implement has decided that the risk manager should continue to develop an RA plan based on inputs from earlier project deliverables. We have now been assigned to create this new BIA plan.

Mitigation Strategy: To mitigate this risk we will do research on possible vulnerabilities and how to fix them before we begin the project. We will then utilize those strategies in our project plan.

DLIS risk manager and team will now be responsible with developing a risk mitigation plan based on inputs provided by said team. Funds have been allocated for the plan due to the importance of risk mitigation to the organization. Thus, senior management is committed to and supportive of the project (ITT-Technical Institute, 2015).

This document is a Risk Management Plan for EQI’s Save Siwa Project. In this document is a risk management process that will be used throughout the life cycle of the project. According to Hillson and Simon (2012), the risk management plan bares the Project Manager responsible with the given duty of maintaining the plan on its track throughout the project. With the risk management plan being closely followed it is guaranteed that the risk process defined will be enough to deal with the various levels of risk being faced by the project.