Discuss about the Risks With The Upgradation Of The Archives Website.
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Risk No# |
Risk Category |
Risk Description including existing risk controls |
Likelihood |
Impact |
Rating |
Mitigation Strategy/Response |
Likelihood |
Impact |
Rating |
|
Initial |
Residual |
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1 |
Financial risk |
If the project managers of the project are not capable of tracking as well as managing the budget of the project on a weekly basis then there will be chances of budget shortfall during the progress of the project. In order to resolve this issue it is very much necessary for the project manager to track the budget of the project on a weekly basis. |
High |
High |
5 |
The risk of budget shortfall can be managed by utilizing strategies that are as follows: 1) Avoiding misuse of project resources 2) By tracking the budget of the project on a weekly basis |
Medium |
Low |
2 |
|
2 |
Project risk |
If the project managers are not experienced then will not be able to manage the project successfully and as a result it would be quite difficult to complete the entire project within the estimated budget as well as time. In order to avoid this type of issue it is very much important for the management of the organization to hire experienced project managers who will be capable of managing the project risk. |
Medium |
High |
4 |
In order to mitigate this type of issue, it is very much necessary to follow the strategies that are as follows: 1)Recruitment of experienced project managers within the organization for managing the project 2)Utilization of proper project management tactics |
Low |
Medium |
1 |
|
3 |
Technical risk |
It is identified that extensive testing is generally required in the website after the launch of the website. However, the technical workers who are mainly associated with the project do not perform proper testing before the launch of the website and therefore now it is analyzed that the navigation feature that is provided in the website is quite poor. In order to resolve this issue, it is necessary to upgrade the navigation feature in order to provide proper customer service experience to the customers. |
High |
High |
5 |
It is identified that in order to mitigate the issue, it is very much necessary to follow the strategies that include: 1. Proper testing must be conducted before launch of the website 2. The launch permission of the website must be issued until proper testing report is provided. |
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4 |
Ethical risk |
It is identified that in the website, the people can also add their images and can able to share their experiences. However, persons who have fake profile can upload the images of others and thus it can create ethical issue. In order to avoid such type of issue it is very important to provide the opportunity of loading images to the website that have proper customer details. |
High |
High |
4 |
In order to mitigate ethical issue it is very much important to adopt strategies that include: 1. Checking details of the customers before the creation of account in the website 2. Personal details must be utilized for creating the website |
Medium |
Low |
1 |
|
Design of the site |
It is identified that aesthetic design of the website is not maintained for the upgraded website and thus the website lacks style guides and other important necessary components that are needed to be provided by the supplier of the organization. In order to resolve this issue, it is very much necessary to develop aesthetic design for the website |
Medium |
medium |
4 |
In order to resolve this issue, it is very much important to utilize the following strategies that are as follows: 1. Recruitment of proper designer of the project 2. Undertaking aesthetic design of the upgraded website |
Medium |
Medium |
1 |
|
Risk Action Plan #1 |
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Item No: 3 |
Risk Description: As the website is not tested before its launch and therefore it is analyzed that the navigation feature that is present in the upgraded website is not working properly ad as a result the workers are facing issues as well as challenges while navigating from one page of the website to another. |
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Risk Rating : 5 |
Category: Technical risk |
Risk Treatment: Mitigate |
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Action Plan: |
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Proposed Actions: It is identified that in order to resolve the challenges that the users are facing it is very much necessary to upgrade the navigation feature of the website so that the workers can properly move from one page to another. In addition to this, it is also necessary to undertake the testing properly before the launch of the website in order to avoid any type of technical issues within the website. |
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Resource Requirements: The resources that are generally required include software as well as hardware for upgrading the website. |
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Responsibilities: Tester as well as developer is mainly responsible of fixing the feature of navigation within the upgraded website in order to avoid technical issues further. |
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Scope Impact: It is identified that by putting proper response, the risks that was occurred does not create any type of negative impact on the project outcome. |
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Time Impact: It is identified that for resolving the technical issue, the time that is needed for completing the project enhances. |
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Cost Impact: In order to resolve the technical risk, the project manager requires a specific amount of budget and thus mitigation of risk enhances the overall budget of the project.. |
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Reporting & Monitoring Required: Proper monitoring is required on a monthly basis in order to make sure that all the functions of the website are working properly. |
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Prepared by: |
Date: 27-03-2018 |
Reviewed by: |
Date: 27-03-2018 |
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Risk Action Plan #2 |
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Item No: 1 |
Risk Description: If the project managers are not capable of tracking the project budget on a regular basis then it became quite difficult to manage the budget of the project in order to complete the entire project successfully within this budget. Due to budget shortfall, the project managers face challenges in completing the entire project of website upgradation on time. |
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Risk Rating : 5 |
Category: Financial risk |
Risk Treatment: Mitigate |
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Action Plan: |
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Proposed Actions: It is identified that in order to resolve the issues it is very much important for the project managers to track the budget of the project on a regular basis in order to complete the entire project within the estimated amount. In addition to this, it is also very much necessary to avoid misuse of various project resources. |
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Resource Requirements: It is identified that project managers are the human resource who are generally needed in order to manage the budget of the project. |
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Responsibilities: The financial manager as well as project manager are the persons who are generally associated with the budget related risk. |
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Scope Impact: The shortfall of budget creates a negative impact on the scope of the project. |
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Time Impact: It is identified that due to shortfall of budget the time that is needed for completing the project also enhances. |
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Cost Impact: By putting the risk response in place, the budget of the project also enhances. |
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Reporting & Monitoring Required: It is very much necessary for the project managers to track the budget of the project on a weekly basis in order to manage the project budget so that entire project can be completed successfully within estimated budget and time. |
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Prepared by: |
Date: 27-03-2018 |
Reviewed by: |
Date: 27-03-2018 |
The activities that are generally undertaken in order to monitor the risk environment for identifying the changed circumstances are as follows:
Proper communication with the team members: Proper communication with project team members assists in providing an opportunity to the workers to share their problem. This opportunity generally helps in monitoring the project related risk that would affect the project negatively.
Analyzing project status report: It is identified that proper analysis of project status report helps in highlighting the risks that can occur within the project in the future. Thus, proper analysis of project status report is useful for monitoring risk.
Arranging weekly meetings: It is found that weekly meetings are generally arranged so that the workers can share their problem that they are facing while working with the project. If on a regular basis, weekly meetings are arranged then the risks associated with project can be monitored easily.
After proper review it is identified that there are number of risks that are mainly associated with the project which generally can create negative impact on the project progress. Thus, it is very much necessary to utilize proper risk management strategies so that the risks that are related with the project can be resolved easily.
The currency of the risk register is maintained by analyzing the impact, likelihood of each and every risks that are mainly associated with project. It is found that proper analysis of project risk likelihood as well as impact assists in maintain the currency of the action plan as well as risk register.
Review your project performance in terms of risk management. Would your risk management processes and procedures be considered effective? Why/why not?
It is identified that the risk management that was undertaken within the project of website upgradation is quite effective. As with the help of the risk management strategies, the risks that are mainly associated with the project can be resolved quite easily. It is identified that risk mitigation strategies are helpful in resolving number of project risks including budget risk, technical risk, schedule risk and more. The strategies as well as processes of risk mitigation help in resolving the issues and thus assist in minimizing the negative impact that the risks would create on the progress of the project. Due to application of effective risk management strategies, the project manager is able to complete the entire project successfully within the estimated time.
List all risk management issues you may have experienced on the project (in the table below) including a recommendation for future projects. Note: these are not issues with your risks but how you managed the project risks.
|
Date |
Description of problem/opportunity |
Recommended Action for next time/project |
Lesson Learnt Raised By |
|
10/2/2018 |
The project team members does not communicate properly and thus the problems that are associated with the project are not known to the project leaders, |
Proper communication must be utilized between team members as well as project leaders. |
Project team members |
|
22/2/2018 |
The project managers are to experienced and as a result they faces difficulty in managing the project and as result project faces difficulty in completing the project on time. |
Experienced project managers must be hired within the project |
Business head |
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9/3/2018 |
Monthly basis meetings that are undertaken within the project helps in tracking the progress of the project. |
Weekly basis meetings should be arranged in order to track the project. |
Project manager |
|
22/3/2018 |
The project managers do not perform project phase review after completion of each phase. |
Proper phase review must be undertaken after completion of each project phase |
Project manage |
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