For Ann Harris

RISK RESPONSIBILITY PLAN 1

Christopher Mihun

MONITORING AND CONTROLLING RISKS – RISK RESPONSIBILITY PLAN

PM650-1801B-01

Professor Al-Nizami

Risk Responsibility Plan

The risk responsibility plan is a risk response planning on choosing the right project stakeholders who are responsible for the risks. It indicates a prose development of all the responsible, those who approved the project processes resulting in the occurrences of the risks. There are also those who supported the project processes, resulting in the errors and risks associated with the project planning, initiation, execution, implementation, and management. Therefore, the responsibility plan is a tool which has been and will be used in the creation of risk project management and responsibility for accountability of all project risks and any associated challenges.

Identified Risks	Roles and Responsibilities (R-Responsible, A-Approver, S-Support and I -Informed )
	Project manager	Architect/ Designers	Business Analysts	NSW Government	Project Team	Stakeholders
i. Incomplete designs which resulted in poor structural planning and delivery of the project.	A	R	R	S	I	S
ii. Poor stakeholder involvement in the due process and project planning	R	A	A	R	A	R
iii. Lack of project leadership from the project manager	R	R	S	A	R	A
iv. Lack of project progress reports and this hampered the performance appraisals	A	I	I	I	R	A
v. Poor Cost Estimates and budgeting	R	I	R	A	A	A
vi. Incomplete designs requirement gathering	A	R	R	I	R	R
vii. Failure to keep within the cost estimate.	R	R	A	I	I	A
viii. Inability to meet the completion timeline	R	R	A	I	A	I
ix. Changes in project scope and requirements.	R	R	I	R	I	A
x. Project scope and design changes.	A	A	I	S	I	R
xi. Lack of project change controls and Scope of the project	R	R	I	I	S	A
xii. The pressure to deliver projects on an accelerated schedule.	I	I	S	R	S	A
xiii. Inaccurate contract time estimates.	R	R	S	I	S	A
xiv. Lack of communication between project participants.	I	I	I	A	S	R
xv. Inadequately defined roles and responsibilities.	R	R	A	I	S	A
xvi. Insufficient skilled staff.	R	I	S	A	R	R
xvii. Political risks.	I	S	I	R	S	R
xviii. Poor task and roles assigning among the project stakeholders	R	R	R	I	S	A
xix. Inexperienced project managers	R	S	S	I	S	R
xx. Incomplete designs which resulted in poor structural planning and delivery of the project.	R	R	S	A	S	A
xxi. Poor stakeholder involvement in the due process and project planning	S	S	S	R	S	A

Management of the Risk Plan and the Risk Responses

The importance of the risk responsibility plan is to offer, support, and increase the devolution in project progress and support development. It indicates the agreed responsibility for achieving the necessary roles and responsibilities. It is a system which maps the critical processes, actions, and ways in which the project manager can effectively manage and respond to risks. It also clarifies the roles and responsibilities of all the stakeholder of the project. This defines the roles and responsibilities of all stakeholders in comparison to planning and assessing the needed expectations (Heldman, 2018). Finally, it supports a structure for making the right decisions such as focusing on the right strategy, idea and contemplating on the clear resources such as sorting and attracting overall responsibility resources to map and increase operational safety and performance. Therefore, the management of the risk plan and risk responses is to ensure there is a clear communication strategy and how to fully clarify the roles of the involved stakeholders.

Maintaining the Plan and Risk Responses

Maintaining the plan can be achieved through contact communication and interacting with all the project stakeholders. Communication will help keep the organization informed on the impending risk responses and any planning to control the risks identified. This will also help the stakeholders to understand the importance of the information they have and possess. Through communication, it becomes a potential way for informing the teams, people and all other partners on their roles and responsibilities (Kerzner, & Kerzner, 2017). This will eventually associate the plan into the project activities and ensure all the individuals have accessibility to information, facts and essential objectives. There is also the need of ensuring all the people are trained on their respective roles and responsibilities. This will help and ensure all the people associated with the risk planning processes, risk responses and control processes have the needed training. It will achieve awareness and reduction of costs in mitigating risks. There is also the need of conducting regular plan changes and this will help, develop and improve operational effectiveness in support, planning, and actualization of essential features to support operational performance. It is a process for engaging in the review and support of the risk responsibility planning (Kerzner, & Kerzner, 2017). The focus is also on the accessibility of the plans and who is responsible for the management of the plan. This can be achieved through backing up the plan and developing audit plans for the plan to ensure the risk responses and plans are always up to date and easily implemented.

Contingency Budget for the Risk Responses selected

Contingency planning is about the development and keeping of the project development into a reasonable management scale. This focuses on developing backup plans to the loss of life, resources, financial support and assets due to disaster or loss due to uncontrollable risks. The contingency budget will focus on the qualitative risks identified (Lentzos & Rose, 2009). For every risk response such as avoidance, acceptance, sharing and transferring the risk, it is important to develop and focus on the importance, value, and resource development of a financial plan. It is also important to use, develop and increase operational effectiveness in in terms of allocating, distribution and protecting the vital goals and aims of each project task. The contingency budget will focus on the value, resources and operational effectiveness to meet and improve resource allocations. This can be done through improved performance, planning on the risks identified by considering the impacts of the risk to the progress of the project.

References

Cabanillas, C., Resinas, M., & Ruiz-Cortés, A. (2011). Mixing RASCI matrices and BPMN together for responsibility management. VII Jornadas en Ciencia e Ingeniera de Servicios (JCIS 2011), 1, 167-180.

Heldman, K. (2018). PMP: project management professional exam study guide. John Wiley & Sons.

Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

Lentzos, F., & Rose, N. (2009). Governing insecurity: contingency planning, protection, resilience. Economy and Society, 38(2), 230-254.