Discuss strategic project and risk management in dynamic environments
Strategic Project and Risk Management in Dynamic Environments
Task Response regarding items you found to be compelling and enlightening. Provide a detailed analysis of the risk responses chosen by your classmates to include support for their position. To help you with your discussion, please consider the following questions:
• What did you learn from your classmate’s posting?
• What additional questions do you have after reading the posting?
• What clarification do you need regarding the posting?
First Post (Nicholas post):
These risks and risk responses are part of a project to renovate a commercial building as the location of a new coffee shop. The threats have been ranked in both probability of occurrence and potential impact to guide the best response strategy.
Work Safety Incident
This risk covers the possibility of worker injuries or close calls that occur during the construction process. With the use of heavy tools and the presence of unavoidable hazards, this will be a concern throughout the whole execution phase. There is a high probability of this risk occurring or being relevant in some degree due to the potential dangers that will always present in building construction work. The potential impact is also high because of the damage that could occur to personnel and equipment, which could in turn heavily impact the project’s schedule and cost.
The best solution is the mitigate the threat by extensive safety preparations by meeting the guidelines set by relevant agencies, holding regular safety meetings with the contractor, and having inspectors observing the work performed to ensure dangers are minimized.
Amendment to Scope.
This risk concerns the threat of plan changes or adjustments that are made during the execution phase of the project. The CEO and major stakeholders will have the authority to request alterations to the plans while the project is underway and some of these requests will need integrating into the project. There is a high probability of this occurring to some degree, likely due to developments that happen after the project start that must be addressed before close-out. The impact is also ranked high; while it is likely most change requests will be minor, larger developments could force schedule and budget changes.
The best strategies for this risk is acceptance. The project manager will develop a rough plan for communicating with stakeholders and integrating changes, but until the requests are known there will be limited means of response.
Loss of Critical Personnel
This risk focuses on the threat of critical project personnel such as the project manager being unavailable at some point in the project, possibly due to vacation or sickness. This risk is ranked as a high possibility as vacations and sick leave over the course of a longer project are almost guaranteed to some degree. The impact however is ranked less, as a well-coordinated project team will be able to pick up most of the slack from the missing personnel until the situation ends.
The best response is a mix of acceptance and mitigation. There is little that can be done to prevent personnel leave time, but ensuring cross-training and close communication between team members will help fill in gaps.
Break-In / Theft
This risk is the threat of property damage or theft during the project. As the building will not be staffed or worked on 24/7, there will be the risk of criminal activity occurring. The probability of this threat is ranked lower, as this should be a rare problem as the building will be locked and secured when not staffed. The impact however is higher as any damages caused could heavily impact the construction activities and lengthen the schedule.
The best strategy to handle this threat is transferring most of the responsibility to the leasing agent. While the project team will be ensuring the building is locked and equipment is secured, it is the leasing agent’s decision on whether to use security staff or cameras to deter crime.
Second Post (Jarod Post):
1. Issues with Routing Feeds Through Multiple Locations – The feed from the video equipment will be routed to multiple locations globally before it gets to the final user. Issues with configurations and bandwidth could cause issues with the equipment working properly or the feed being degraded. The FSR’s will assist with specialist in communications to ensure that all are in the know of how the equipment is configured
and where issues lie to be documented for future problem solving. This has a high probability and high impact making it a high on the risk matrix.
Risk Response: While there is no measure or action to completely eliminate this risk, there will be a team of communication experts in the routing and structure that the feeds go through that will be on 24-hour stand by to assist in the problem solving of the issue. This will expedite the time needed to get the feeds live again and to the customer for exploitation.
2. Lack Sparring- In the past contract sparring has been an issue. Getting parts to a combat zone can prove difficult, especially when foreign governments are involved. To allow for smooth logistics of getting the right amount of parts on hand and stream lining parts not needed on a regular basis logistics specialist in foreign logistics will be hired. In addition, field service representatives who are experts in their field will be hired
to identify and track parts that are needed on a regular basis to ensure these parts are always on hand. Lastly, an ordering system will be in place so that the system will know and automatically re order items needed. This has a high impact and high probability making it high on the risk matrix.
Risk Response: The maintainers and technicians along with the field service representatives will work alongside the logisticians to create and implement a supply system that will carry regularly needed parts and items that frequently need replaced or maintained. This will allow the time to fix issues to a reasonable timeframe and keep the air craft and mission equipment operational. All items used will be accurately documented in an automated system and ordered as items and/or parts are used.
3. Government Requiring More Than Budgeted for Once Awarded Contract- While an opportunity presents itself and is likely two things have to be taken into account, first the additional requirements are realistic and the budget will allow for the additional requirements. It is the responsibility of the project and deputy managers to identify potentially additional requirements so that they can be accomplished and if needed the
budget may have to be adjusted or additional funding from the government may need to be requested. This risk has a high probability and high impact on the risk matrix.
Risk Response: As almost always the government wants more than originally requested. In this case the team on site will be prepared to adapt as needed. The project managers will have access to additional funds if approved by higher echelon and used appropriately. There will be clauses written in the contract and all commanders and ground force representatives (GFR) will be briefed on what is contractual obligations and
what is requests outside the contractual obligations to ensure complete and thorough understanding of the primary work structure of the government contract.
4. Information Assurance– Each of the systems for the primary mission equipment require system upgrades to ensure that security of the systems are maintained and meet governmental requirements. To ensure these updates work and are able to be installed each update will be tested and timed to know it works properly and how long it will take to install. This has a medium probability and a high impact making it a medium on the
Risk Response: Information Assurance is simply the task of ensuring that all data systems are secure and that know classified information is leaked. To accomplish this a system
administration team will ensure that all patches are tested prior to installation and conduct the updates regularly. This will eliminate the chance of any leakage of information and keep the systems from being degraded due to out dated system requirements.