Case Scenario: Risk Management (Elite Burger: New Product Launch) After reading
ID: 332833 • Letter: C
Question
Case Scenario: Risk Management (Elite Burger: New Product Launch) After reading the case scenario, address the following: 1. What are three other risks that the project manager should have identified and planned for? You can draw on the course material, your experience, and research to answer this question. 2. Describe some mitigation techniques that the project manager could use to alleviate those risks. You can draw on the course material, your experience, and research to answer this question.
Elite Burger: New Product Launch Case Scenario
David Smith, a project manager at Elite Burger, was called into an executive meeting on short notice. During the meeting, the executive team discussed a new burger that will be launched in 6 months called the “Big Time Burger”. Since David has successfully launched other products in the past, he was tasked with being the project manager for this new project.
After the meeting with executives, David scheduled a meeting with his team to discuss the project. During the meeting, David expressed some of his concerns, such as the fact that upper management has a history of significantly revising the scope at various points throughout the project. In addition, the new burger ingredients are rare and in limited supply, which may cause complications.
Unfortunately, the meeting had to be cut short and David tasked his team with identifying additional risks that should be considered and accounted for.
Explanation / Answer
1. While launching a new product the organization needs to assess the risk and how to handle or manage the risks. In this case I believe that other risks that should have been identified are:
1. The competitors in the industry and the type of burgers that they actually deal with in order to make an established growth as an organization. If the product launched is almost same with any of the existing products of a competitor then it will be tough to get expected returns.
2. The food and taste preference of consumers in the particular area needs to be analyzed so that the product and taste of the product is in sync with the preference of the consumers and that is important so that the organization can succeed with the product that they launch.
3. The suppliers who will be able to supply the required ingredients for the burger that is being planned to be introduced in the market because if there is lack of consumers then it would be difficult for the organization to cope with the demand in the market.
2. In order to handle the situation there are some techniques that needs to be used and they are quite essential for the success of the organization. Firstly, the organization needs to conduct an analyses on the industry and gain knowledge about the comp[etion that the product may experience along with that the details like the taste, ingredients used, cost, etc. Secondly, assessment and evaluation of the culture of the region needs to be done which will give a fair idea about the preferences of the people residing in the region and the product can be tailor made based on that. Lastly, Communication and transportation is an important aspect by which the business needs to ensure that supply of raw materials is sufficient so that there is no lack of resources at any instance..