Based on the attached scenario:
a. What management responses to both events (database specialists not showing up, change in management objectives) in the "Managing Project Risk" simulation would you have recommended instead of those offered in the simulation? Why?
b. Based on the Managing Project Risk simulation, develop a project schedule indicating the significant milestones identified.
c. How would you have weighted the perceived risks in the "Managing Project Risk" simulation, and why?
d. Looking forward, what other risks would you include that were not identified in the simulation? What actions would you take to mitigate the three most significant risks you identify?
e. Based on the changes that have occurred in the "Managing Project Risk" simulation, what project indicators would you use to measure project performance and status and why? Indicate whether each selected indicator is financial or non-financial.
f. Design a project closure approach for ABI, the bank in the "Managing Project Risk" simulation.
Project Management Plan Paper
The American Bank of Indiana (ABI) is a regional bank that has revenue of $280 million. It provides various services to its customer like personal and industrial banking services, card services, mortgages and loan services. It is a leading player among other regional banks. The management of the bank is now looking for the integration with the FAFS to deliver quality services to its customer. The main objective of this project namely 'Project Integra' is to integrate the service delivery system, ATM locations, bank databases and service related software.
The project includes various types of risks like resource constraints, gap between skill and competency, availability of network equipments, infrastructure problems. These risks can affect the Project Integra. The various risk mitigation techniques are applied by the management to reduce the impact of these risks. The risk of resource constraints can be reduced by assigning additional resources to the project and the gap between shill and competency can be reduced by providing training facility to the project members. The Managing Project Risk simulation doesn't include other risks like change in the economy or in consumer's behavior that can affect the project of ABI. It is important for the project manager to know the management response to know the impact of the critical risks in the project. The next section describes the management response for the risk in the project (University of Phoenix).
Management Responses Identification
The management of the company is considering the various risks and risk mitigation techniques that can harm the Project Integra. It is because most of the employees are not aware of the work that has to be done now. It can cause a delay in the inputs from the FAFS during the design and the execution of the project. The application failure will also cause for the delay in the project. The main objective of the project is to provide the timely services to the customers and to use the resources optimally.
The management is rescheduling the techniques, assigning the additional resources, providing training, short listing the vendors to response the risks involved in the project. The change in the priority of the management can also cause for the risk in the project. The response of the management for this risk is to apply the documentation technique and reassigning of the specialist from the project to mitigate it. It will help to develop the ...
The response addresses the queries posted in 1621 Words, APA References