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Assignment/Instructions.docx

Using one of your prior examples or another, perform the Plan Risk Responses detailed on Page 235 of our text with at least 5 items. Be sure to have entries in every column!

Using your imagination, include at least three entries in the Monitor and Control Risks exercise on page 278 & onwards of our text.

All templates are included which is taken from the book

My previous work is included if you want to use that topic

Book being used is

Mulcahy, R. (2010). Risk management tricks of the trade for project managers + PMI-RMP exam prep guide (2nd ed.). Minnetonka, MN: RMC Publications.

Assignment/Previous work (if you pick this topic)/Qualitative and Quantitative.xlsx

Overview

I am the project manager of Accel Skyfund, a sponsor of talent with respect to the manufacture of drones ie UAVs. Currently a Florida based company called Roto Air needs 1,000,000 USD from us to start operations.
The quantitative analysis I carried out to determine the feasibility of the project highlighted the following risks.
		Qualitative
A	A 23% chance that Vacations and leaves will create a need for orienting stand-in personell and job rotation time table fixtures, this will cost the company $ 43,000
B	A 34% chance that delayed supply in deliverables may interfere with the company's contracts; breaches, law suits and new procurement deals will cost the company $ 35,000
C	A 67% chance that human resource department of Roto Air has trouble getting experienced welders from Florida; sourcing from New York will cost $ 8370
D	A 10% chance that the Israeli supplier of the custom-built drone forming machine will delay; trhis will cost the company about 5500 for looking up alternative suppliers
E	A 25 % Chance that the hurricane month in Florida will interfere with the Just In Time delivery system of the firm, creating a need for backup from the plant in Oswego; cost 4770 USD
F	A 50 % chance that customers will not receive the UAV(Unmanned aerial vehicle) well once it is launched in the market, this will cost about 500,000 USD
		Quantitative
	Risk	Calculation	Expected monetary value of the cost	Risk moved into planned risk responses
	A	0.23*$43,000	$9,890
	B	0.34*$35,000	11,900
	C	0.67*$8370	5607.9
	D	0.10*$5500	550
	E	0.25*$4770	1,192.50
	F	0.50*$500,000	250,000
	Total		368,150.40	No
	Therefore, we as Accel-Skyfund have to add $368,150.4 to the $1,000,000 we are giving to Roto Air; this means more deliberations on interest will have to be made

Qantitative

Risk			Activity	Time Probability	Time Impact	Time Expected Monetary Value (P*1)	Cost Probability	Cost Impact	Cost Expected Monetary Value (P*1)	Move into Plan Risk Responses
Cause	Risk	Effect
Some team members are scheduled to go on leave	A 23% chance that Vacations and leaves will create a need for orienting stand-in personell and job rotation time table fixtures, this will cost the company $ 43,000. Thirty day project delay	operations may stall such that the level production rate of drones goes down	A need for orienting stand-in personel through job rotation	0.083	30 days	3 days	0.23	43,000	$9,890	No
Delayed supply in deliverables	this may stall the project and lead to legal battles that may cost the company a great deal. Project may delay by one and a half month	Slowed production rate and lost profits	Delays mah necessitate the need for new procurement contracts	0.125	45 days	5.625/an approximate six days	0.34	35,000	$11,900	No
Human Resource department at Roto Air may find it difficult to get experienced welders in Florida	A lack of experienced welders will paralyse company operations for a while	a backlog in the production process of the UAV	Qualified welders sought from New York	0.02	7 days	0.14 /one day	0.67	8,370	$5,607.90	No
Israeli supplier of custom drone forming machine will delay by one month	a risk of taking an awful length of time in finding new supplier	A review of the procument schedule, consideration of new prices	Alternative suppliers will have to be sought	0.083	30 days	2.49 / an approximate 3 days	0.1	5,500	$550	No
Hurricane month in Floria interferes with Just In Time delivery system	Disappointing customers and Accel skyfund with respect to loan dividends	A total delay in operations during Florida's hurriccane season ie when it rains seriously in August till October	Shift operations to Oswego in the hurricane month	0.083	30 days	2.49 / an approximate 3 days	0.25	4,770	$1,192.50	No
Poor customer reception once the new drone is launched	A failure to recover the initial capital outlay	a bad public image, albeit temporarily	Improvements and relaunch of a better UAV/DRONE	0.25	90 days	22.5 approximately 23 days	0.5	500,000	250,000	No
Total										No

Qualitative

Opportunity	Cause	Risk	Effect
Some team members go on leave while other Roto Air staff are oriented w.r.t the manufacture of the new drone. This is a chance for the company to effect job rotation at its plant	Some team members are scheduled to go on leave	A slight chance that Vacations and leaves will create a need for orienting stand-in personell and job rotation time table fixtures, this will cost the company $ 43,000. Thirty day project delay	operations may stall such that the level production rate of drones goes down
Timely supply of deliverables and timely compoletion of the project	Delayed supply in deliverables	this may stall the project and lead to legal battles that may cost the company a great deal. Project may delay by one and a half month	Slowed production rate and lost profits
	Human Resource department at Roto Air may find it difficult to get experienced welders in Florida	A lack of experienced welders will paralyse company operations for a while	a backlog in the production process of the UAV
Quality drone component parts that will lead to verall quality of the drone	Israeli supplier of custom drone forming machine will delay by one month	a risk of taking an awful length of time in finding new supplier	A review of the procument schedule, consideration of new prices
Avoidance of the hurricane season in Florida that will lead to uninterrupted manufacture operations in Oswego	Hurricane month in Floria interferes with Just In Time delivery system	Disappointing customers and Accel skyfund with respect to loan dividends	A total delay in operations during Florida's hurriccane season ie when it rains seriously in August till October
Impressing customers with the newly launched Roto Air drone	Poor customer reception once the new drone is launched	A failure to recover the initial capital outlay	a bad public image, albeit temporarily

Assignment/Previous work (if you pick this topic)/Risks.xlsx

Identify Risks

Project for the Implementation of SAP (System, Applications, Programs) system at DIAGEO Plc Main Sites				By: Daniel Faherty
Opportunity	Cause	Risk	Effect
	This project involves implementation of our new products into the market	new skills may be required by the clients to fully implement their project	which could be sold to others thereby increasing the company's revenue.
	We may be working with a lot of the customer's information system on the project	which may enable us develop new skill son improving their information system process	therefore bringing possible future income to our company.
	As a result of there being a lot of Diageo sites, they may require to outsource some of the SAP functions to our company	which will enable us to leverage work in the future	which could reduce the cost of the project for Diageo by them outsourcing their SAP system functions to our company
	New invoiving methods used by the SAP system may require the supplying companies to change their softwares to adopt the new SAP system	that may lead to the company acquiring new target markets	which would provide a new revenue stream for the project company.
	Proper implementation of the project	which make DIAGEO reffer us to its sister companies, or other companies within the same industry decide to follow it since it holds a huge market share	which causes more business opportunities for the project company.
	The need for a systems operator for long term to enable smooth running of the system when changes need to be made	which causes the project company to be held on retainer by DIAGEO	thereby increasing revenues for the company in the long run
Threats	Cause	Risk	Effect
	We are trying to implement a new information system that is not being used by several companies	this may bring abour conflict between Diageo and other companies it engages in business with	that may revert to DIAGEO goitn back to its previous information system.
	The company may focus more on the implementation of the SAP system	and compromise on the production and efficiency process	that might lead to poor client and customer satisfaction for DIAGEO Plc.
	DIAGEO's information back-up system may not be in line with that of SAP	which means that system recovery and back up in future may not work	that could lead into the loss of a lot of client information and loss of transactional records.
	Implemenenting the SAP system requires it to run parralel to the current information system	which may cause the company may incuur extra cost in implementation that initially anticipated	that may lead to the company abolishing the whole SAP system mid-way.
	The current employees may be resistant to implementation of the new SAP system	which would lead to them not using the SAP system efficiently	which would lead to DIAGEO not realising the results the had hoped for by implementing the SAP system.
	Implementation of the system may require new people to be trained on aspects such as invoicing for suppliers	which could increase the scope of work to be done	that may be increase the project's delivery period, and overall cost of implementation.
	Implementation of the SAP system on all the DIAGEO sites may be too costly as compared to them continuing with the current system	which may lead to them continuing with their current information system	thus all prospects of future business with Diageo and its suppliers may be stopped.
	The project company not delivering on agreed dates per phase	which may cause delayed payments	leading to a delay in the project schedule.
	Misinterpreteation of the RFP(request for Proposal Document) caused by the DIAGEO not fully expressing the needs of the company	causing delays in the project because of feuds between the supplier and Diageo	leading to delayed project implementation period.
	A long lead time before project commencing	that may cause changes in the costs projected by the supplier against what is invoiced for the work done	which may cause disputes between the supplier and Diageo
	New information management systems being developed before full implementatyion of the SAP system by other rival companies	causing the company to reconsider implementing an obsolete information management system	leading to the project being scrapped off.
	Personnel may be unavailable for traing at scheduled times	which causes rescheduling of implementation dates	which increases overall delivery period
	Funding priorities may change i.e they may decide to expand into new markets instead of implementing a new system	that may cause the project to be delayed or pushed forward by several months	that may lead to loss of business by the project company.
	materials for implementation of the system i.e new computer systems may take longer tha scheduled to arrive and set up	which may cause the project schedule to change	thereby pushing forwards the project delivery period.
Process of Activites will be:
Initiating	Define the risks
Planning	Determinations of risks
Executing	Prioritize the risks
Monitoring and Controlling	Analyze the risks
Closing	Completion and further implementation

Assignment/Templates/Ch6QuantitativeRiskAnalysisTemplate.doc

Risk	Activity	Time Probability	Time Impact	Time Expected Monetary Value	Cost Probability	Cost Impact	Cost Expected Monetary Value	Move into Plan Risk Responses?
Cause	Risk	Effect

Assignment/Templates/Ch7RiskResponseFormforOpportunities.doc

Top Opportunities Form

Opportunities

Activity

Rating

Score

Ranking

Trigger

Contingency Plan

Trigger

Fallback Plan

Risk Owner

Cause

Risk

Effect

P x I

Assignment/Templates/Ch7RiskResponseFormforThreats.doc

Risk Response Form for Threats
Threats	Activity	Rating	Score	Ranking	Trigger	Fallback Plan	Risk Owner
Cause	Risk	Effect		P	I	P x I

Assignment/Templates/Ch7TopOpportunitiesForm.doc

Top Opportunities Form
Top Opportunities	Ideas for Exploiting	Ideas for Enhancing the Probability	Ideas for Enhancing the Impact	Ideas for Sharing	Choice(s) Selected

Assignment/Templates/Ch7TopThreatsForm.doc

Top Threats Form
Top Threats	Ideas for Avoidance	Ideas for Mitigating the Probability	Ideas for Mitigating the Impact	Ideas for Transferring	Choice(s) Selected

Assignment/Templates/Ch8CostRiskReserveReport.doc

Cost Risk Reserve Report
Reserve Used For:	Used Contingency Reserve	Used Management Reserve	Contingency Balance ($ _____ at start)	Management Balance ($ _____ at start

Assignment/Templates/Ch8TimeRiskReserveReport.doc

Time Risk Reserve Report
Reserve Used For:	Used Contingency Reserve	Used Management Reserve	Contingency Balance (_____ at start)	Management Balance (_____ at start)