When should a response plan be put into place? (Action trigger)
What is the consequence in terms of the effect on the project's cost, schedule and requirements?
Regarding the response plan, how will it be accomplished?© BrainMass Inc. brainmass.com December 24, 2021, 9:04 pm ad1c9bdddf
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The response addresses the queries posted in 668 words with references.
//The formulation of a response plan is essential in order to handle the various risks associated with the implementation of new projects in an organization. For a paper like this, it is important to start with a brief introduction.//
Response plan can be defined as a proactive action plan, which is designed and developed by the organizations to accomplish the objectives and goals of the project. The aim is to decrease the threats in the implementation of the project (Milosevic, 2003).
//Above, a brief introduction to response plan is discussed. Now, action trigger for the response plan will be discussed, i.e. when would be the response plan introduced into the project.//
An action trigger can be defined as the point at which the actual plan fails and there is a need to implement the response plan to handle the risk. The action trigger is a very important step of the response plan, as it acts as an indicator of warning for the risk and determines the point at which the response plan needs to be implemented in the organization, for the management of the project. For instance, action trigger for the purchasing of a raw material in an organization can be the increase in the present price of the material by 5% or more than that. This is due to the fact that high rise in the price will affect the budget which has been previously allocated for purchasing of the raw material. It can be said that it is important to put the response plan into action, whenever trigger point is being recognized (Gido & Clements, 2009).
//The action trigger for the response plan has been discussed above. Now, the consequence of the response plan would be discussed in terms of its effect on the cost of the project, schedule, etc. //
Project planning incorporates the response plan in itself. During the planning of the project, budget and schedule are being designed for the response plan, in case the contingency occurs during the project. The effect on the cost of the project and schedule, etc. can increase according to the impact and the probability of risks. High risks would lead to rise in the cost of the project and the set schedule for completion of the project might be delayed. There can be rise in the requirements to complete the project, as there will be risk. On the whole, it can be said that the incorporation of the response plan in the project planning increases the cost, requirements and can also delay the schedule for the project. But, it saves the organization from high losses that it would face due to risks and contingency, if there is no response plan (Milosevic, 2003).
///Above, the consequence of the response plan has been discussed in terms of its effect on the cost of the project, schedule, etc. Now, the accomplishment of the project's cost, requirements, etc. in the organization will be discussed.//
Cost of the project, requirements, etc. can be accomplished by making provisions for costs, requirements and the delays in the schedule, in case of an contingency, during the planning of the project. Authority and responsibility is assigned to specific members of the organization for implementing response plans, pertaining to different risks and contingencies (Gido & Clements, 2009).
//Above, accomplishment of the project's cost, requirements, etc. in the organization has been discussed. Now, at the end, a conclusion has been written to get a full understanding of the topic. //
In the end, it can be concluded that the response plan is important to be incorporated during the planning of the project, to save the organization from heavy losses, which would occur during the contingency.
//I hope the assistance provided by me is quiet sufficient to address the queries. It will surely help you to develop better understanding of the topic discussed and enhance your knowledge. I am also including the references, from where I found the content. At the end, I wish you a happy learning: //
Gido, J. & Clements, J.P. (2009). Successful Project Management (4th ed).U.S.A.: Cengage Learning, pp: 89-90.
Milosevic, D.Z. (2003). Project management toolbox: tools and techniques for the practicing project manager. New Jersey: John Wiley and Sons, pp: 288-297.© BrainMass Inc. brainmass.com December 24, 2021, 9:04 pm ad1c9bdddf>