IFSM 438 INDIVIDUAL PROJ

1 ITP-3 Answers

University of Maryland University College

Individual Assignment

IFSM 438: Information Systems Project Management

ITP3 - Answers

July 2, 2020

Riby Awuakye

Prof: Garrett Rowley

This study source was downloaded by 100000785772547 from CourseHero.com on 06-15-2022 16:17:40 GMT -05:00

https://www.coursehero.com/file/66770387/ITP-3-Answers-Rdocx/

2 ITP-3 Answers

Executive Summary

This task is to complete a risk register for the installation of an IT system for Mamma’s Bakery

and Sandwich Shoppe. The spreadsheet contains a various task, risk, risk handling category, Risk

Handling/Control Plan, and the risk owner. It also includes risk probability, risk consequences,

risk score for both initial and after mitigation. The various task was from the group Work

Breakdown Structure and Project Schedule risk with Dependency that outlines the major and

subtasks needed to install the IT system. The project scope is budgeted for an initial cost of

$100.000 which will cover all the costs.

1. Which risks (and associated tasks) would be the most threatening to the success of

the project and why? This discussion should be very specific to tasks and their

associated risks.

The are several risks and associated task that threatening the success of the project some of them

are the sponsor canceling the project during the project start, with this the project will not

continue and will come to a halt. The sponsor is associated with the most threatening of this

project's success. At the project start, the sponsor can cut the project funds down. This will

change the project scope due to lack of funds. Also, at the “Hardware Installation”, an

inexperience person can extend the project period. At schedule training, employees calling out

and scheduling issues with stakeholders can increase the project's completion date.

2. Which top THREE mitigations (and associated tasks) and risk handling plans

should be implemented, and why? Remember that mitigation actions will affect

cost, schedule and/or scope – so discuss what can you AFFORD to do based on the

likelihood and impact of the risk?

This study source was downloaded by 100000785772547 from CourseHero.com on 06-15-2022 16:17:40 GMT -05:00

https://www.coursehero.com/file/66770387/ITP-3-Answers-Rdocx/

3 ITP-3 Answers

The top three mitigations and risk handling plans that should be implemented are the task

“Project Start”, “Final Requirement Approval” and “Hardware Installation”. The first task is a

high risk with both probability and cost. The other two tasks “Final Requirement Approval” and

“Hardware Installation” are a moderate risk for both probability and cost.

3. What are the TOTAL impacts on cost, schedule and scope for the project if the

recommended risk controls and mitigation actions are taken? If you use costs, how

did you calculate the cost? Will the risk handling improve things or make them

worse? That is, will the project cost more and/or be less successful because of risk

handling, or will it cost less and/or be more successful because of risk handling?

How so? Explain.

When the recommended risk control and mitigation action are taken, it can improve the quality

of cost, schedule, and scope of the project. The project will be more successful there will be

available funds to support the project and the project requirement can be achieved.

4. How did you determine those costs and impacts? Please describe. What is the

benefit of mitigating risks that are identified for mitigation?

Regarding this project, the initial risk score (probability impact) is calculated by multiplying the

Risk Probability with Risk Consequences (Impact). The final risk score is also calculated by

multiplying Remaining Probability after Mitigation by the “Remaining Consequences (Impact)

after Handling”. The risk mitigation strategy is to prepare an organization with a threat effect. It

will reduce the effect of threats like schedule conflict or loss or damage to a device.

5. If your project could only afford $20,000 for mitigation actions, which risks (identify

associated tasks) would be implemented?

This study source was downloaded by 100000785772547 from CourseHero.com on 06-15-2022 16:17:40 GMT -05:00

https://www.coursehero.com/file/66770387/ITP-3-Answers-Rdocx/

4 ITP-3 Answers

If my project could only afford $20,000 for mitigation action, “Finalize IT Design Document”,

“Determine Required Network Hardware”, “Hardware Installation”, “Develop Website”, and

“Schedule POS System Delivery” would be implemented. These are the critical point in the

project that needs to carefully implemented.

6. If your project could only tolerate a 5-day delay related to mitigation actions, which

risks (identify associated tasks) would be implemented?

If the project could only tolerate a 5-day delay related to mitigation action, “Schedule Training”

would be implemented. The task already has a medium risk and it might occur.

7. What would be the most expensive (time and or schedule) contingency action/plan?

Identify the associated task and explain why this contingency would be the most

expensive in terms of time or schedule.

The most expensive contingency action/plan would be “Hardware Installation”. This is because

when the personnel is inexperienced, it will take another time and cost to high a different person

and time for him/her to get up to speed. It will take around 21 days and a cost of $5000 to

complete this task.

8. How did you determine those costs and impacts? Please describe.

The cost and impact were determined as a percentage of the risk cost. The probability impact is

by multiplying the “risk probability” with the “Risk Consequences (Impact)”. The cost is from

after a mitigation strategy has been taken. This helped me to determine the level of the “Current

Risk Status” (low risk, moderate risk, and high risk).

This study source was downloaded by 100000785772547 from CourseHero.com on 06-15-2022 16:17:40 GMT -05:00

https://www.coursehero.com/file/66770387/ITP-3-Answers-Rdocx/

5 ITP-3 Answers

References

Rawi, R, (n.d). Project Risk Identification For New Project Manager. Retrieved from

https://www.projecttimes.com/articles/project-risk-identification-for-new-project-

manager.html

UMGC. (2020, Summer, pg 349). Chapter 11 - Managing Project Risk. Retrieved from

https://learn.umgc.edu/d2l/le/content/485797/viewContent/18820281/View

This study source was downloaded by 100000785772547 from CourseHero.com on 06-15-2022 16:17:40 GMT -05:00

https://www.coursehero.com/file/66770387/ITP-3-Answers-Rdocx/ Powered by TCPDF (www.tcpdf.org)