D.Q1:
"Information System and Enterprise Systems"
· Identify the key factors that companies should consider when deciding whether to buy or to build their own information systems. Explain your rationale.
· Select one (1) type of the four (4) enterprise systems (i.e., supply chain management, customer relationship management, knowledge management systems, and enterprise resource planning), and speculate on the main issues that companies may encounter when implementing the type of enterprise system that you have selected. Next, suggest two or three (2 or 3) general techniques that companies could use in order to mitigate the issues in question.
D.Q2:
"Management Support Systems"
· Review the main management support systems discussed in Chapter 12 of the textbook. Next, select one (1) such system, and describe its key components, capabilities, and the overall manner in which an organization could benefit from it. Include one (1) example of such application and related benefit(s) to support your response.
· Recommend two (2) strategies for designing a successful management support system for an organization. Provide a rationale to support your response.
D.Q3
"Expert Systems and Intelligent Agents"
· Use the Internet or the Strayer Library to research articles on expert systems and companies which use them. Next, select two (2) companies that currently use expert systems. Then, discuss the fundamental advantages and disadvantages of using expert systems instead of human expertise within the companies that you have selected. Provide a rationale to support your response.
· Select one (1) of the four (4) categories of intelligent agents, as discussed in Chapter 13 of the textbook, that is currently available. Identify the main risks of using intelligent agents in the category that you have selected. Next, speculate on one (1) way which you would use in order to mitigate the risks in question. Justify your response.
D.Q4
Collecting Cost and Schedule Performance Metrics" Please respond to the following:
· From the first and second e-Activities, develop one (1) innovative way to track key project costs (e.g., labor hours) for a complex project that lasts for two (2) years and involves more than fifty (50) resources. Be as creative as you like, and provide one (1) example which shows the significant ways in which your innovation would work in a real-world situation.
· Using the hotel project from Week 6 discussion, determine the best practice for conducting an earned value analysis for the project in question. Provide a rationale for your determination and one (1) specific example which illustrates the significant ways in which the best practice in question would work in real life.
D.Q5
"Steering Future Performance Back Toward the Baseline" Please respond to the following:
· Determine the fundamental impact of not using a project management tool which clearly displays the effect of delays in delivering work packages, as required per your project.
Organic Name Reactions for the students and aspirants of Chemistry12th.pptx
D.Q1Information System and Enterprise Systems· Identify.docx
1. D.Q1:
"Information System and Enterprise Systems"
· Identify the key factors that companies should consider when
deciding whether to buy or to build their own information
systems. Explain your rationale.
· Select one (1) type of the four (4) enterprise systems (i.e.,
supply chain management, customer relationship management,
knowledge management systems, and enterprise resource
planning), and speculate on the main issues that companies may
encounter when implementing the type of enterprise system that
you have selected. Next, suggest two or three (2 or 3) general
techniques that companies could use in order to mitigate the
issues in question.
D.Q2:
"Management Support Systems"
· Review the main management support systems discussed in
Chapter 12 of the textbook. Next, select one (1) such system,
and describe its key components, capabilities, and the overall
manner in which an organization could benefit from it. Include
one (1) example of such application and related benefit(s) to
support your response.
· Recommend two (2) strategies for designing a successful
management support system for an organization. Provide a
rationale to support your response.
D.Q3
"Expert Systems and Intelligent Agents"
· Use the Internet or the Strayer Library to research articles on
expert systems and companies which use them. Next, select two
2. (2) companies that currently use expert systems. Then, discuss
the fundamental advantages and disadvantages of using expert
systems instead of human expertise within the companies that
you have selected. Provide a rationale to support your response.
· Select one (1) of the four (4) categories of intelligent agents,
as discussed in Chapter 13 of the textbook, that is currently
available. Identify the main risks of using intelligent agents in
the category that you have selected. Next, speculate on one (1)
way which you would use in order to mitigate the risks in
question. Justify your response.
D.Q4
Collecting Cost and Schedule Performance Metrics" Please
respond to the following:
· From the first and second e-Activities, develop one (1)
innovative way to track key project costs (e.g., labor hours) for
a complex project that lasts for two (2) years and involves more
than fifty (50) resources. Be as creative as you like, and provide
one (1) example which shows the significant ways in which
your innovation would work in a real-world situation.
· Using the hotel project from Week 6 discussion, determine the
best practice for conducting an earned value analysis for the
project in question. Provide a rationale for your determination
and one (1) specific example which illustrates the significant
ways in which the best practice in question would work in real
life.
D.Q5
"Steering Future Performance Back Toward the
Baseline" Please respond to the following:
· Determine the fundamental impact of not using a project
management tool which clearly displays the effect of delays in
delivering work packages, as required per your project
schedule. Justify your response.
· From the e-Activity, determine at least two (2) best practices
for steering future performance back toward the baseline.
3. Provide at least two (2) specific examples of the utilization of
such best practices to support your response.
D.Q6:
"Analyzing and Archiving" Please respond to the following:
· From the first and second e-Activities, select one (1) tool that
you would use in order to analyze costs and schedules with
regard to deliverables and / or work packages for a project of
your choice. Specify the overall manner in which the utilization
of the tool that you have selected would help to improve the
management of your project. Justify your response.
· According to the text, archiving key project data is a must in
project management. However, mistakes are bound to occur
during such archiving. Determine one (1) mistake that project
managers are most likely to make when archiving cost and
schedule data for their projects. Next, propose one (1) strategy
or best practice for limiting the mistake in question. Justify
your response.
New folder (4)/I have started the risk management plan.docx
I have started the risk management plan. Please look over the
template and add to my risk management plan. Anything that I
may be missing. Thank you so much. The risk management plan
in the “second part” doc.
New folder (4)/Second part.doc
Running Head: EZSTROAGE COMPANY RISK
MANAGEMENT PLAN
1
EzStorage Company Risk Management Plan Ezstorage
company risk managementNameInstitution1 EzStorage Company
Risk management plan
4. 1.1 Introduction
A risk is an occurrence that can have a positive or a negative
effect on a company. Risk management is therefore a process of
identifying, responding to, and assessing, monitoring risks. The
risk management plan defines how the risks associated with the
project can be mitigated. It shows how the risks management
activities will be carried out, monitored, and recorded
throughout the project life.
The risk management plan should be created by the project
manager during the planning phase of the EzStorage Company
planning. The intended audience of this document is the project
sponsor, project team, and project management..
2 risk management Procedure
2.1 Process
The project manager will work with the team in responding to
risks. This response include risk analysis, risk identification,
and risk management. The risk s should be identified as soon as
possible to ensure they are dealt with accordingly to minimize
the risk impact. The steps in accomplishing this are outlined
below.
2.2 Risk Identification
This step will involve the following team members; project
team, stakeholders and the steps will include project
environmental factors, organizational culture and project
management plan with the scope included.
2.3 Risk Analysis
Risks identified will be assessed to identify the range of all
possible project outcomes. This qualification will be used to
determne which risks are of higher impact and have better
probability. The management can use this information to know
5. which risked can be ignored and which onees need special
attention.
2.3.1 Qualitative Risk Analysis
Hurst (1998) suggests that the probability of an occurrence and
impact of a risk to be assessed by the lead project managers.
The following shows a summary of how input will be shown.
Probability
· High: greater than 70%.
· Medium between 70% and 30%
· Low – las than 30%.
Impact
· High – high impact means a risk has high probability of
greatly affecting the project cost, schedule and performance.
· Medium – these risks have medium to low impact on the cost,
schedule and performance of a project.
· Low – low risks have very little impact on the project.2.4 Risk
Response Planning
Each risk is to be assigned a project team member for
monitoring and ensring that the risk will not interrupt the
normal flow of information (Royer, 2002)..
For each risk, the following will take effect.
· Risk Avoidance - This include fully eliminating the threat
that might cause the risk to occur.
· Mitigate - Risk mitigation include the need to know how to
deal with the risk incase the risk occurs.
· Accept - accepting the rik means that nothing is done about
the risk.
· Transfer - Making another party responsible for the risk can be
done through outsourcing.
6. 2.5 Risk Monitoring, Controlling, And Reporting
The risk level on the project should be tracked and will be
monitored throughout the project.
The management will be notified on the changes that can be
made to mitigate the risk. 3 Tools And Practices
Tools for tracking the risk log will be maintained and kept in
the safe. 3.1 risk management plan approval
The undersigned persons acknowledge threat they have seen and
reviewed the risk management plan. All the changes will be
managed and coordinated by the following personnel. For the
EzStorage Company, we use the approval proposed by Hester &
Harrison (1998).
Signature:
Date:
Print Name:
Title:
Role:
Signature:
Date:
Print Name:
7. Title:
Role:
Signature:
Date:
Print Name:
Title:
Role:
Reference
Hurst, n. (1998). Risk assessment. Cambridge: royal society of
chemistry.
Hester, r., & harrison, r. (1998). Risk assessment and risk
management. Cambridge: royal society of chemistry.
Royer, p. (2002). Project risk management. Vienna, va.:
management concepts.
8. New folder (4)/Template.doc
<Project Name> Risk Management Plan
Version: 1.0 Error! Unknown document property name.<Project
Name>Risk Management Plan
Version Number: 1.0
Version Date: <mm/dd/yyyy>
Notes to the Author
[This document is a template of a Risk Management Plan
document for a project. The template includes instructions to
the author, boilerplate text, and fields that should be replaced
with the values specific to the project.
· Blue italicized text enclosed in square brackets ([text])
provides instructions to the document author, or describes the
intent, assumptions and context for content included in this
document.
· Blue italicized text enclosed in angle brackets (<text>)
indicates a field that should be replaced with information
specific to a particular project.
· Text and tables in black are provided as boilerplate examples
of wording and formats that may be used or modified as
appropriate to a specific project. These are offered only as
suggestions to assist in developing project documents; they are
not mandatory formats.
When using this template, the following steps are
recommended:
1. Replace all text enclosed in angle brackets (e.g., <Project
Name>) with the correct field document values. These angle
9. brackets appear in both the body of the document and in headers
and footers. To customize fields in Microsoft Word (which
display a gray background when selected) select File-
>Properties->Summary and fill in the appropriate fields within
the Summary and Custom tabs.
After clicking OK to close the dialog box, update all fields
throughout the document selecting Edit>Select All (or Ctrl-A)
and pressing F9. Or you can update each field individually by
clicking on it and pressing F9.
These actions must be done separately for any fields contained
with the document’s Header and Footer.
2. Modify boilerplate text as appropriate for the specific
project.
3. To add any new sections to the document, ensure that the
appropriate header and body text styles are maintained. Styles
used for the Section Headings are Heading 1, Heading 2 and
Heading 3. Style used for boilerplate text is Body Text.
4. To update the Table of Contents, right-click on it and select
“Update field” and choose the option - “Update entire table”.
5. Before submission of the first draft of this document, delete
this instruction section “Notes to the Author” and all
instructions to the author throughout the entire
document.VERSION HISTORY
[Provide information on how the development and distribution
of the Risk Management Plan will be controlled and tracked.
Use the table below to provide the version number, the author
implementing the version, the date of the version, the name of
the person approving the version, the date that particular
version was approved, and a brief description of the reason for
creating the revised version.]
Version
11. 42.0risk management Procedure
42.1Process
42.2ROLES AND RESPONSIBILITIES
52.3Risk Identification
52.3.1Methods for Risk Identification
62.4Risk Analysis
62.4.1Qualitative Risk Analysis
62.4.2Quantitative Risk Analysis
62.5Risk Response Planning
72.6Risk Monitoring, Controlling, And Reporting
82.7Risk Contingency Budgeting
83.0Tools And Practices
84.0Closing a Risk
95.0Lessons Learned
10Appendix A: Risk Management Plan Approval
11APPENDIX B: REFERENCES
12APPENDIX C: KEY TERMS1.0 INTRODUCTION
1.1 Purpose Of The Risk Management Plan
A risk is an event or condition that, if it occurs, could have a
positive or negative effect on a project’s objectives. Risk
Management is the process of identifying, assessing, responding
to, monitoring and controlling, and reporting risks. This Risk
Management Plan defines how risks associated with the
<Project Name> project will be identified, analyzed, and
managed. It outlines how risk management activities will be
performed, recorded, and monitored throughout the lifecycle of
the project and provides templates and practices for recording
and prioritizing risks by the Risk Manager and/or Risk
Management Team.
Risks related to IT systems or applications must be identified
and documented based on the methodology in NIST SP 800-30,
Risk Management Guide for Information Technology Systems.
IT system or application weaknesses must be identified on an
associated plan of action and milestones (POA&M) and tracked
in accordance with HHS POA&M guidelines. Appropriate
12. protective measures must be taken to safeguard sensitive IT
system or application weaknesses or vulnerabilities from
unauthorized disclosure.
2.0 risk management Procedure
2.1 Process
[Summarize the steps necessary for responding to project risk.]
The project manager working with the project team and project
sponsors will ensure that risks are actively identified, analyzed,
and managed throughout the life of the project. Risks will be
identified as early as possible in the project so as to minimize
their impact. The steps for accomplishing this are outlined in
the following sections. The <project manager or other
designee> will serve as the Risk Manager for this project.
A distinction may need to be made between overall project risk
management and IT system or application risk management.
Risks related to IT systems or applications must be identified
and documented based on the methodology in NIST SP 800-30,
Risk Management Guide for Information Technology Systems.
2.2 ROLES AND RESPONSIBILITIES
Role
Responsibilities
Business SME (BSME)
The BSME assists in identifying and determining the context,
consequence, impact, timing, and priority of the risk.
Risk Manager or Project Manager (PM)
The Risk Manager or PM is a member of the Integrated Project
Team (IPT). The Risk Manager or PM determines if the Risk is
unique, identifies risk interdependencies across projects,
verifies if risk is internal or external to project, assigns risk
classification and tracking number. During the life of the
project, they continually monitor the projects for potential risks.
Integrated Project Team
The IPT is responsible for identifying the risks, the
13. dependencies of the risk within the project, the context and
consequence of the risk. They are also responsible for
determining the impact, timing, and priority of the risk as well
as formulating the risk statements.
Risk Owner(s)
The risk owner determines which risks require mitigation and
contingency plans, he/she generates the risk mitigation and
contingency strategies and performs a cost benefit analysis of
the proposed strategies. The risk owner is responsible for
monitoring and controlling and updating the status of the risk
throughout the project lifecycle. The risk owner can be a
member of the project team.
Other Key Stakeholders
The other stakeholders assist in identifying and determining the
context, consequence, impact, timing, and priority of the risk.
2.3 Risk Identification
Risk identification will involve the project team, appropriate
stakeholders, and will include an evaluation of environmental
factors, organizational culture and the project management plan
including the project scope, schedule, cost, or quality. Careful
attention will be given to the project deliverables, assumptions,
constraints, WBS, cost/effort estimates, resource plan, and other
key project documents.
2.3.1 Methods for Risk Identification
The following methods will be used to assist in the
identification of risks associated with <Project Name>:
· Brainstorming
· Interviewing
· SWOT (Strengths, Weaknesses, Opportunities and Threats)
14. · Diagramming
· Etc.
A Risk Management Log will be generated and updated as
needed and will be stored electronically in the project library
located at <file location>.2.4 Risk Analysis
All risks identified will be assessed to identify the range of
possible project outcomes. Risks will be prioritized by their
level of importance.
2.4.1 Qualitative Risk Analysis
The probability and impact of occurrence for each identified
risk will be assessed by the project manager, with input from
the project team using the following approach:
Probability
· High – Greater than <70%> probability of occurrence
· Medium – Between <30%> and <70%> probability of
occurrence
· Low – Below <30%> probability of occurrence
Impact
Impact
H
M
15. L
L
M
H
Probability
· High – Risk that has the potential to greatly impact project
cost, project schedule or performance
· Medium – Risk that has the potential to slightly impact project
cost, project schedule or performance
· Low – Risk that has relatively little impact on cost, schedule
or performance
Risks that fall within the RED and YELLOW zones will have
risk response plan which may include both a risk response
strategy and a risk contingency plan.
2.4.2 Quantitative Risk Analysis
Analysis of risk events that have been prioritized using the
qualitative risk analysis process and their affect on project
activities will be estimated, a numerical rating is applied to
each risk based on quantitative analysis, and then documented
16. in this section of the risk management plan. 2.5 Risk Response
Planning
Each major risk (those falling in the Red & Yellow zones) will
be assigned to a risk owner for monitoring and controlling
purposes to ensure that the risk will not “fall through the
cracks”.
For each major risk, one of the following approaches will be
selected to address it:
· Avoid – Eliminate the threat or condition or to protect the
project objectives from its impact by eliminating the cause
· Mitigate – Identify ways to reduce the probability or the
impact of the risk
· Accept – Nothing will be done
· Contingency –Define actions to be taken in response to risks
· Transfer – Shift the consequence of a risk to a third party
together with ownership of the response by making another
party responsible for the risk (buy insurance, outsourcing, etc.)
For each risk that will be mitigated, the project team will
identify ways to prevent the risk from occurring or reduce its
impact or probability of occurring. This may include
prototyping, adding tasks to the project schedule, adding
resources, etc. Any secondary risks that result from risk
mitigation response will be documented and follow the risk
management protocol as the primary risks.
For each major risk that is to be mitigated or that is accepted, a
course of action will be outlined in the event that the risk does
materialize in order to minimize its impact.2.6 Risk Monitoring,
Controlling, And Reporting
The level of risk on a project will be tracked, monitored and
controlled and reported throughout the project lifecycle.
[Describe the methods and metrics that will be used to track the
project’s risk status throughout the lifecycle as well as how this
17. status will be reported to the stakeholders/ management.]
Risks will be assigned a risk owner(s) who will track, monitor
and control and report on the status and effectiveness of each
risk response action to the Project Manager and Risk
Management Team on a <insert timeframe>.
A “Top 10 Risk List” will be maintained by the PM/Risk
Manager or IPT and will be reported as a component of the
project status reporting process for this project.
All project change requests will be analyzed for their possible
impact to the project risks.
As Risk Events occur, the list will be re-prioritized during
weekly reviews and risk management plan will reflect any and
all changes to the risk lists including secondary and residual
risks.
Management will be notified of important changes to risk status
as a component to the Executive Project Status Report. [State
timeframe, i.e., every two weeks]
The Risk Manager (PM) will:
· Review, reevaluate, and modify the probability and impact for
each risk item [timeframe, as needed, every two weeks, etc.]
· Analyze any new risks that are identified and add these items
to the risk list (or risk database).
· Monitor and control risks that have been identified
· Review and update the top ten risk list [timeframe, as needed,
every two weeks, etc.]
· Escalate issues/ problems to management [List factors that
would need to be escalated to management. Examples:
documented mitigation actions are not effective or producing
the desired results; the overall level of risk is rising.]
18. The Risk Owner will:
· Help develop the risk response and risk trigger and carry out
the execution of the risk response, if a risk event occurs.
· Participate in the review, re-evaluation, and modification of
the probability and impact for each risk item on a weekly basis.
· Identify and participate in the analysis of any new risks that
occur.
· Escalate issues/problems to PM that,
· Significantly impact the projects triple constraint or trigger
another risk event to occur.
· Require action prior to the next weekly review
· Risk strategy is not effective or productive causing the need to
execute the contingency plan.
Risk activities will be recorded in the <Document Name/ Risk
Database Name> located on <full network path location>.
2.7 Risk Contingency Budgeting
A risk contingency budget can be established to prepare in
advance for the possibility that some risks will not be managed
successfully. The risk contingency budget will contain funds
that can be tapped so that your project doesn't go over budget.
There is a total of <$X> in the <Project Name> Project budget
allocated for Risk Management activities. These activities may
include, but are not limited to, identifying, analyzing, tracking,
controlling, managing, and planning for risks. This also
includes creating and updating the risk response strategies and
contingency plans.
19. [Above is only an example of text that could be used. Enter
whatever information is appropriate to outline/ define the
budget associated with the Risk Management activities on the
project.]
3.0 Tools And Practices
A Risk Management Log will be maintained by the project
manager and will be reviewed as a standing agenda item for
project team meetings.
Risk activities will be recorded in the <Document Name/ Risk
Database Name> located on <full network path location>.
4.0 Closing a Risk
A risk will be considered closed when it meets the following
criteria:
· <List the criteria when a risk can be closed>
· <Who has the authority to close a risk? >
Examples:
· Risk is no longer valid
· Risk Event has occurred
· Risk is no longer considered a risk
· Risk closure at the direction of the Project Manager
5.0 Lessons Learned
The lessons learned will be captured and recorded in the
<Document Name/ Risk Database Name/Lessons Learned
document or folder> located on <full network path location>.
Appendix A: Risk Management Plan Approval
The undersigned acknowledge that they have reviewed the
<Project Name> Risk Management Plan and agree with the
information presented within this document. Changes to this
20. Risk Management Plan will be coordinated with, and approved
by, the undersigned, or their designated representatives.
[List the individuals whose signatures are desired. Examples of
such individuals are Business Owner, Project Manager (if
identified), and any appropriate stakeholders. Add additional
lines for signature as necessary.]
Signature:
Date:
Print Name:
Title:
Role:
Signature:
Date:
Print Name:
Title:
21. Role:
Signature:
Date:
Print Name:
Title:
Role:
APPENDIX B: REFERENCES
[Insert the name, version number, description, and physical
location of any documents referenced in this document. Add
rows to the table as necessary.]
The following table summarizes the documents referenced in
this document.
Document Name
Description
Location
<Document Name and Version Number>
<Document description>
<URL or Network path where document is located>
22. APPENDIX C: KEY TERMS
The following table provides definitions and explanations for
terms and acronyms relevant to the content presented within this
document.
Term
Definition
[Insert Term]
<Provide definition of term and acronyms used in this
document.>
[Insert appropriate disclaimer(s)]
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EPLC_Risk_Management_Plan_TemplateT.doc