Part B: Risk ManagementCreate a risk management report for the given case study used in Assessment 1. In your report, include:NOTE: Master of Business Information Systems students must use an IT...

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Part B: Risk ManagementCreate a risk management report for the given case study used in Assessment 1. In your report, include:NOTE: Master of Business Information Systems students must use an IT project as an example in this assessment.1. Risk identification and impact assessment Identify possible risks for the case study and critically analyse the impact of these risks. Use a risk probability and impact matrix to rate and prioritise the risks. Develop appropriate response strategies to effectively manage identified risks. Complete a risk register for the case study.2. Risk management reporting Identify and explain how stakeholders will be apprised of the project's ongoing risk management activities.


PROJ6003_Assessment 2 Brief_February 2020.Docx Page 1 of 8 ASSESSMENT BRIEF Subject Code and Title PROJ6003 Project Execution and Control Assessment Assessment 2: Risk Management (2 parts) Part A: Module 4-5 Discussion Forum Part B: Risk Management Individual/Group Part A: Individual Part B: Individual/groups Length Part A: 850 words Part B: 1500 words/student Learning Outcomes 2. Critically analyse project risks and develop a range of strategies to effectively manage those risks in order to ensure expected project management outcomes. Submission Part A: The post to be completed by end of Module 5. Part B: By 11:55pm AEST/AEDT Sunday first half of Module 6. Weighting 50% (Part A: 15%; Part B: 35%) Total Marks Part A: 15 marks Part B: 35 marks Context: As project work is executed, project managers make certain that quality assurance is conducted and quality is controlled. Quality assurance consists of the activities that are undertaken to ensure that a project uses the processes needed to meet quality requirements. Meanwhile, quality control entails monitoring specific project results to determine whether they meet relevant quality standards, which have been defined with the project scope. Planning for risk management involves determining how to approach, plan and execute the various activities required for managing project risks. Because new risks may be introduced at any point in the project management life cycle, risk management is a continuous process. It begins at the project-planning phase and continues throughout the project-execution phase. Effective communication is a key factor for managing project execution. However, project managers may face challenges as they communicate with their teams and other project stakeholders. Other factors such as developing, leading and managing project team members are also critical for successfully achieving project goals. PROJ6003_Assessment 2 Brief_February 2020.Docx Page 2 of 8 Instructions: This assessment has two parts: a post (Part A) and a Risk Management report (Part B) Part A: Module 4-5 Discussion Forum Each student will construct a post in approximately 850 words to the following questions and post on the Module discussion forums by the end of Module 5. Students will be graded individually on how students demonstrate/share theories and contribute to the general discussion of the topic within the group over weeks 7, 8 & 9. Module 4-5 Topic: Project Status Reporting Identify effective status reports used in project management. Discuss the challenges and pitfalls of different status reports. Explain the difference between the status reports provided for teams, sponsors, and steering committee. Considering the given case study, how might these reports be applied? Output: Module 4-5 discussion - provide a post by the end of Module 5. Part B: Risk Management Create a risk management report for the given case study used in Assessment 1. In your report, include: NOTE: Master of Business Information Systems students must use an IT project as an example in this assessment. 1. Risk identification and impact assessment  Identify possible risks for the case study and critically analyse the impact of these risks.  Use a risk probability and impact matrix to rate and prioritise the risks.  Develop appropriate response strategies to effectively manage identified risks.  Complete a risk register for the case study. 2. Risk management reporting  Identify and explain how stakeholders will be apprised of the project's ongoing risk management activities. The written portion of your Risk Management Plan should consist of 1500 words/student. For students’ reference, an example of a Probability and Impact Matrix is illustrated in the PMBOK Guide®. PROJ6003_Assessment 2 Brief_February 2020.Docx Page 3 of 8 Output: Complete and submit Part B by first half of Module 6. Learning Resources: Heldman, K. (2013). PMP Project Management Professional Exam Study Guide (7th ed.). Indianapolis, IN: Wiley.  Chapter 6: Risk Planning (Read from ‘Quantifying Risk’ to ‘Summary’)  Chapter 10: Measuring and Controlling Project Performance  Chapter 11: Controlling Work Results (Read the section on ‘Monitoring and Controlling Risk’) Project Management Institute. (2013). A guide to the project management body of knowledge (PMBOK Guide®) (5th ed.). Newtown Square, Pennsylvania: Project Management Institute.  Section 10.2: Manage Communications  Section 10.3: Control Communications  Section 11.2: Identify Risks  Section 11.3: Perform Qualitative Risk Analysis  Section 11.4: Perform Quantitative Risk Analysis  Section 11.5: Plan Risk Responses  Section 11.6: Control Risks  Section 13.3: Manage Stakeholder Engagement  Section 13.4: Control Stakeholder Engagement Snyder, C. S. (2013). A project manager’s book of forms: A companion to the PMBOK guide (2nd ed.). Indianapolis, IN: Wiley.  Contract Close Out template (Word document)  Formal Acceptance Form template (Word document)  Lessons Learned template (Word document)  Probability and Impact Matrix Template (Word document)  Risk Register Template (Word document) Wysocki, R. K. (2012). Effective Project Management: Traditional, Agile, Extreme (6th ed.). Indianapolis, IN: Wiley.  Chapter 3: Understanding the Project Management Process Groups (Read the section on ‘Risk Management’)  Chapter 7: How to Monitor and Control a TPM http://ezp.tua.edu.au/login?url=http://search.ebscohost.com/login.aspx?direct=true&AuthType=ip,url,uid&db=nlebk&AN=565869&site=eds-live&scope=site http://ezp.tua.edu.au/login?url=http://search.ebscohost.com/login.aspx?direct=true&AuthType=ip,url,uid&db=nlebk&AN=565869&site=eds-live&scope=site PROJ6003_Assessment 2 Brief_February 2020.Docx Page 4 of 8 Also, for Master of Business Information Systems students: Chemuturi, M. (2013). Mastering IT Project Management: Best practices, tools and techniques. Retrieved from https://lesa.on.worldcat.org/oclc/869302200  Chapter 7: Project Control in IT Project Management  Chapter 9: Quality Assurance in IT Project Management Assessment Criteria: Submitted assessments will be graded using the Learning Rubrics enclosed. https://lesa.on.worldcat.org/oclc/869302200 PROJ6003_assessment 2 brief_February 2020.docx Page 5 of 8 Learning Rubric – Assessment 2 Part A: Module 4-5 Discussion Forum Assessment Attributes Fail (0-49) Pass (50-64) Credit (65-74) Distinction (75-84) High Distinction (85-100) Contribution to identifying the challenges and pitfalls of traffic light reports, the difference between the status reports 60% Fails to contribute to identifying the challenges and pitfalls of traffic light reports, the difference between the status reports. Limited knowledge of project status reporting. Contributes to identifying the challenges and pitfalls of traffic light reports, the difference between the status reports. Demonstrates limited awareness of project status reporting. Resembles a recall or summary of key ideas. Often conflates/confuses assertion of personal opinion with information substantiated by evidence from the research/course materials. Contributes to identifying the challenges and pitfalls of traffic light reports, the difference between the status reports. Shows some understanding of project status reporting. Supports personal opinion and information substantiated by evidence from the research/course materials. Demonstrates a capacity to explain and apply relevant concepts. Contributes to identifying the challenges and pitfalls of traffic light reports, the difference between the status reports. Work shows insight and thorough understanding of project status reporting. Discriminates between assertion of personal opinion and information substantiated by robust evidence from the research/course materials Well demonstrated capacity to explain and apply relevant concepts. A sophisticated understanding of the challenges and pitfalls of traffic light reports, the difference between the status reports. Critically discriminates between assertion of personal opinion and information substantiated by robust evidence from the research/course materials Contribution is comprehensive and advances the class discussion. PROJ6003_assessment 2 brief_February 2020.docx Page 6 of 8 Effective communications 30% Difficult to understand for audience, no logical/clear structure, poor flow of ideas, argument lacks supporting evidence. No effort is made to keep audience engaged, audience cannot follow the line of reasoning. Information, arguments and evidence are presented in a way that is not always clear and logical. Attempts are made to keep the audience engaged, but not always successful. Line of reasoning is often difficult to follow. Information, arguments and evidence are well presented, mostly clear flow of ideas and arguments. The audience is mostly engaged, line of reasoning is easy to follow. Information, arguments and evidence are very well presented, the presentation is logical, clear and well supported by evidence. Engages the audience, demonstrates cultural sensitivity. Expertly presented; the presentation is logical, persuasive, and well supported by evidence, demonstrating a clear flow of ideas and arguments. Engages and sustains audience’s interest in the topic, demonstrates high levels of cultural sensitivity. Use of academic and discipline conventions and sources of evidence 10% Poorly written with errors in spelling, grammar. Demonstrates inconsistent use of good quality, credible and relevant research sources to support and develop ideas. There are mistakes in using the APA style. Is written according to academic genre (e.g. with introduction, conclusion or summary) and has accurate spelling, grammar, sentence and paragraph construction. Demonstrates consistent use of credible and relevant research sources to support and develop ideas, but these are not always
Answered Same DayApr 26, 2021PROJ 6003

Answer To: Part B: Risk ManagementCreate a risk management report for the given case study used in Assessment...

Dilpreet answered on Apr 30 2021
146 Votes
Running Head: Risk Management Report        1
Risk Management Report         
RISK MANAGEMENT REPORT FOR THE BLUE SPIDER CASE STUDY
Executive Summary
    For projects like The Blue Spider, it is important that the management of the project focus on important administrative and technical aspects of the project to ensure that the project is successful. Identifying risks and developing mitigation strategies and measur
es will help the organization ensure that the desired outcomes can be achieved leading to customer satisfaction and enhanced profits. This risk report will help the project team to identify several risks associated with the project and focus on the mitigation strategies to ensure better results.
Table of Contents
Overview of the Case Study    4
Identification and Critical Analysis of the Risks    4
Information Technology Risks    4
Administrative Risks    5
Response Strategies to Manage Information Technology Risks    7
Response Strategies to Manage Administrative Risks    8
Appraisal of Stakeholders    8
References    10
Appendices    11
Risk Impact Matrix    11
Risk Register    11
Overview of the Case Study
    The Blue Spider Project captures, summarizes and evaluates the consequences of the delays or rejections of the final project approval. As could be inferred from the case project management was not effective, as Gary could not manage the changes taking place from both the administrative and the technical aspects. As a program-manager, it is vital to monitor all the changes occurring in a project. As each change will have significance in the project and may cause several risks for the project. The project had no defined objectives and a milestone plan. Moreover, the responsibility charter is completely missing. A lot of mismanagement is evident form the case study. Lack or risk identification and major communication gaps are the major reasons of concern for this project. A lack of coordination can be seen between various functional departments. Changing of scope between Gary and Paul to make the test matrix fit for Lords was a major mistake. Not all this costumer dissatisfaction as the customer was aware of the last minute changes.
Identification and Critical Analysis of the Risks
The risks could be identified based on two different aspects namely information technology and administrative risks.
Information Technology Risks
Information technology risks of the project have been identified and analyzed as below:
1. Confidentiality of Data: The information at various stages of the project is available to almost everyone in the organization. Since, this information is related to the missiles used by the army, it should be kept confidential so that unauthorized parties do not have access to this data. A security breech in such a situation cannot be remedied. As opined by Khan, Basharat and Riaz (2018) it is crucial for the organization to protect their sensitive data and private information from other competitors as this project is important for the holistic growth and development of the organization. There are no access levels and classification of information and all the team members working on the project may access any piece of dada or information.
2. Integrity of Data: Since the testing team observed frequent changes and the roles of people working on the project changed several times, there is a high probability that the integrity of the information has been lost. Therefore, this may lead to communication of ambiguous data to the customers (McBride, Ekstrom, Lusty, Sexton & Townsend, 2018). The data can be deleted or modified by anybody who can access the data and therefore the authenticity of the data and information in this case is at high risk.
3. Availability of Data: Since, information related to the entire project is being saved on a single server without any security or protection the data may be easily available to third parties and can easily be attacked and modified by the hackers. The data must be readily available but it must be ensured that it is available to the team members who are...
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