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In developing documentation for the risk management plan, project teams determine early warning signs or triggers, which help with risk monitoring.

1. Identify a project with which you are familiar, a case study, or a project/case study from your textbook, and develop a set of at least four early warning signs. Categorize the triggers in terms of their impact on the quality of work performed, the schedule, and/or the budget. (Note: Chapter 7 in your textbook may be helpful to you.)

http://enfocussolutions.com/wp-content/uploads/2014/12/Checklist-Early-Warning-Signs-of-Risk. pdf Departments across the Boulder Medical Center access and rely on significant amounts of patient data and other critical information to do their work. As this data kept growing, its structure became less efficient, included redundancies, and was very challenging for the IT department maintain. For this reason, a couple of years ago, IT designed a project called Master Data Management (MDM) which would allow IT and all other departments to better manage, control, and audit data sharing across the medical center. Unfortunately, such large project had to be initiated twice, due to the lack of attention to warning signs on the first attempt:

Quality Schedule Budget

● Employees did not have clear tasks or a task framework.

● Weak commitment from stakeholders and management.

● Resources assigned to another project with higher priority.

● Poorly designed schedule plan.

● Certain tasks were overscheduled.

● Constant arguments about agendas and timeframes.

● Undocumented activity milestones.

● Weak budget plan, no definition on what resources were needed and their cost.

● High volume of claims from subcontracting company.

● Budget reports not submitted early enough to management.

Had the project manager been properly involved and noticed such critical warning signs, the center would have not lost large amounts of money and time and the project could have been completed on the very first attempt. It took another year for the project to be successfully completed.

Wilson, R. (2015). ​Mastering risk and procurement in project management: A guide to planning, controlling, and resolving unexpected problems (1st ed.)​. Upper Saddle River, NJ: Pearson. ISBN-13: 9780133837902