Project Management and Risk Management

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Project Management and Risk Management

Category: Business Plan

Subcategory: IT Technology

Level: Academic

Pages: 5

Words: 1375

Sections VI & VII: Project Management and Risk Management

University of …Date
Team Graduates:
Name – Project Manager
Name – Writer
Name – Editor
Name- Researcher
Table of Contents
TOC o “1-3” h z u Project Management PAGEREF _Toc425257218 h 3Project Planning Phase PAGEREF _Toc425257219 h 3Systems and Requirements Phase PAGEREF _Toc425257220 h 3Design Phase PAGEREF _Toc425257221 h 3System Development Phase PAGEREF _Toc425257222 h 3Testing Phase PAGEREF _Toc425257223 h 4Acceptance Phase PAGEREF _Toc425257224 h 4Maintenance Phase PAGEREF _Toc425257225 h 4Risk Management PAGEREF _Toc425257226 h 5Risk Identification PAGEREF _Toc425257227 h 5Risk Matrix PAGEREF _Toc425257228 h 6References PAGEREF _Toc425257229 h 9
Project ManagementTrusty Carpets require a number of workers to carry out important tasks while at the same time rectify any issue that may come up during the installation of the internet and mobile technology. The following phases of system development life cycle will be followed.
Project Planning PhaseThis is also called preliminary investigation stage. Here, the system analyst will conduct an investigation to identify the scope of the problem and the company’s objectives. A report will be handled to the project manager. This information will enable the project manager review the objectives and study all problems before project initiation. This information will come from customers, suppliers, employees and from observing competitors. The project manager will determine what is required to be done and delegate duties to the project team members (Mehta, 2007).
Systems and Requirements PhaseHere, there will be a study on the existing business operations in order to understand how the new solution will change Trusty Carpets operations. Obviously, positions and tasks will change after the implementation of the solution.
Design PhaseThe design team will carry out this phase. A preliminary design will be developed showing all functional capabilities of the proposed solution. The design will review system requirements and consider system’s main components. Prototyping will be done at this stage. The solution will be tested, and the team will conclude if there is a need to change the solution. This face will integrate CRM and ERM, and any emerging issue will be worked on (Patel, 2008).
The team will then develop a detailed design that will describe all the capabilities featured in the preliminary design. Backup procedures and crash recovery will be included. The system layout, volume and frequency of data, database size, storage requirements, security, and system control will be given.
System Development PhaseThis phase entails acquiring and testing of hardware and software. The overall design and diagrams will be integrated. Then the hardware and software will be linked and tested. This will show if the system is operating as per the requirements (Patel, 2008).
Implementation Phase
This phase is the one that will determine the success of the project. The project manager together with the project team will work together to implement this project. Different parts will be implemented at different times. Then the system will be customized for optimum performance. The employees will be shown how to use the system (Mehta, 2007).
Testing Phase The network system will be tested if it is functioning as per the requirements. The project team will work together to adjust and eliminate all errors and facing the system so that it will work perfectly.
Acceptance PhaseWhen all issues and technological errors are solved, the project manager will handle the system to the Trusty Carpets management. If the company management is not satisfied, the system will be modified.
Maintenance Phase A maintenance program will be developed where the system will be maintained once in a month. If there is any problem detected, the project team will step in immediately before the system breaks down.
SDLC Phase Tasks Responsible Party Duration
Project Planning Preliminary Investigation Project Manager, Systems Analysts, Trusty Carpets’ Management 2 months
Systems and Requirements System requirements definition Project Manager, Systems Analysts 6 weeks
Systems Design A preliminary design is developed followed by a prototype Design Team 1 month
Systems Development Acquiring of Software and hardware Project managers and system developers 5 weeks
Implementation Step by step implementation Project Team 1 month
Testing The system will be checked for flaws Project Manager and Project Team Coincide with Implementation Stage
Acceptance The system performance will be discusedProject Manager and Trusty Carpets Management 1 week
Maintenance software updates and all other issues Project Team Ongoing
Section VII
Risk ManagementThe responsibility of handling risks lies in the hands of the project team. Every group member has the mandate to identify risks, and the project manager has the sole responsibility of focusing on the bigger risks that might cause adverse effects to the project. After identifying risks, the project manager will prepare a formal document after consultations with team members. The document will be submitted to the chief executive officer who will decide how they can assist in the process of solving these risks (Liberman, 2014).
Risk IdentificationThis is a process that involves identification of all risks that may affect the project and then documenting their activities. The inputs in this process are risk management plan, scope baseline, activity cost estimate, stakeholder register, project document, and environmental factors. The tools and techniques used here are checklist analysis and the swot analysis (Holmes, 2012).
The main risks that will be faced include:
Software Failure-The ERP software may fail thereby jeopardizing the efforts of salespersons. Customer’s services quality will be low. The company should purchase software as a backup.
Natural Disaster- Floods and earthquakes may hit the company’s premises resulting to huge losses. The project will have to be initiated again.
Stakeholders- Project requirements may change when the work is in progress. This will hit the project manager hard as they will be forced to change the overall plan.
Material Quality- The quality of the material required for the success of the project may be low. For instance, the power cables connected to routers and tablets may be of low quality meaning that probability of failure is very high.
Risk MatrixBelow is the Risk Matrix it describes the area of the risk, description, probability, the impact, strategy, and contingency plan on how to mitigate these risk.
Area of Risk Description Probability of Occurrence Impact
of Occurrence Strategy for Mitigation Contingency Plan
Strategic Changes in the main goals will impact the investment High Low Call a crisis meeting to find solution Project manager keep monitoring the progress
Business Failure to find a project sponsor may impact progress High Low A meeting with stakeholders Project manager keep monitoring the progress
Feasibility Failure to test the infrastructure may render the project unsuccessful High Low Close monitoring A good activity plan
Risk of Creating a Monopoly A monopoly makes a company provide low quality services Low Low Supervising workers Good work schedule
Capability to Manage Investment Mismanagement of investment can Cause huge losses High Medium Transfer employees Close supervision
Organization and Change Management Change of management may slow down productivity for some time Medium Medium Motivate workers Retain the most important persons
Dependencies and Interoperability Failure to plan well may raise costs Medium Medium Develop a good plan Close supervision
Security Security threats can impact productivity High High Prepare well for any threat Invest in security systems
Surety (Asset Protection) Failure to protect asset may impact investment Low Low Monitor security systems Develop asset protection plan
Privacy Employees personal information may be compromised if privacy issues are not addressed Medium Medium Monitor security systems Invest in security systems
Project Resources Mismanagement of resources may lead to project failure High High Close supervision A well-organized project plan
Schedule Tight schedule Low Low Monitor Develop a good schedule
Initial Cost High initial cost may delay project development Medium Medium Develop low cost production methods Good planning
Life Cycle Cost Incorrect life cycle costs may make the project more expensive than budgeted Medium Medium Correct the errors Develop a good project life cycle
Technical Obsolescence Using outdated technology may make maintenance complicated Low Low Replace old technology with current Have a good technology plan
Technology Environment Investing in new technology means Additional cost of training and implementation Low Low Adopting easily implemented technology Frequent training to employees on new systems
Reliability of Systems Systems with low reliability may impact development Medium Medium Take measures to raise reliability Close monitoring of systems
Data and Information Data breach may impact the project Medium High Crisis meeting to find solution Use data protection security systems
Overall Risk of Investment Failure Overall risks may impact project implementation Medium Medium Good management skills Good project management plan
ReferencesHolmes, A. (2012). Risk Management. Capstone.Liberman, A. (2014). Risk management. Minneapolis: Fortress Press.Mehta, R. C. (2007). Project management. Jaipur: Aavishkar Publishers.Patel, V. N. (2008). Project management. Jaipur, India: Oxford Book Co.ISTQB Exam Certification. (2015). What are the Software Development Life Cycle (SDLC) phases? Retrivied from: http://istqbexamcertification.com/what-are-the-software-development-life-cycle-sdlc-phases/