Mini-Case B GU has requested that you develop a risk analysis tool to measure ri
ID: 3879604 • Letter: M
Question
Mini-Case B
GU has requested that you develop a risk analysis tool to measure risk in its different forms throughout the learning managementsystem project. Please provide the matrix assessment tool that will be used.
In order to successfully complete this project there are resources outside your organization that are needed. Develop a Resource Development Plan for accessing and utilization of three resources (Human Capital/individual being loaned for the project, Information Technology, and Equipment). Include a schedule for these resources and how they will be used. Please address the risks involved with these resources.
Explanation / Answer
If you have any problems, let me know in the comments and i will try to answer.
Risk analysis is an important step in any project or business and is performed at various levels throughout the project’s life cycle, yet, an unstructured approach or unplanned execution is what causes such a plan to fail in general. The structured planning of such risk analysis techniques, allows the management to make effective decisions regarding the steps that need to be considered to make better informed decisions.
Improper risk analysis causes the scope, costs and time schedules to be unsettled and results in the lack of communication with the outside team to become a reason for impacting the transparency of their decision making process.
The assessment tool that can be used for this project is ITM platform, which is a cloud based project management software. Not only does the tool help with risk analysis but also, manages your programmes and portfolios and help you with execution of just about every management situation better.
Or an inhouse solution could be developed which could include a template that could be tweaked to the scope of the project and then dividing the severity of risk on one axis and the probability of it occurring on the other axis. And record the scope of the risks and the alignment of the project value on it.
For creating a resource development programmes for the three sectors of resources, it would be taken into consideration that other business’ might share the same goal as you. And, their man power and infrastructure can be utilized to realize the scope of your project.
Human capital can be inquired in the form of a deal and utilized in the project at a middle stage where the requirement of workloads are not met based on the schedule. Also, the IT resources and equipments of other prospective business’ can be utilized from the very start, to supplement the need of the project.
The risk involved with such an arrangement is always the lack on the part of the agreed parties to comply to the terms of the contract, the problem with seeking grants from various resources is always a material risk where growth and realization is considered and, at point where the scope of the project is not realized, the recovery of capital from your investment becomes difficult. Especially, with the inclusion of other parties.
Hope this helps...