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    Project Risk Management- Control and Monitoring

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    You work for a major defense contractor. Your company prepared and submitted a bid for a recent Department of Defense RFP, entitled Automated Mobile Defense System (AMDS). You have been assigned to lead Project X, which will design, develop, test, demonstrate and deploy 10 AMDS units to a location to be determined by the DoD assuming a successful demonstration. This project is expected to take at least 5 years to complete at a cost of $1.5 billion. If you are successful and deliver a quality product on time and within budget, the DoD will order 150 more AMDS units at a price of $10 million per unit. The goal of Project X is to develop a defense system to protect major and strategic cities within the US in the event of a missile attack from a hostile nation. It is to be a redundant system; the last in a series of defensive weapons to be used only in the event that all other defensive systems have failed; when enemy ABMs are approaching the US and only AMDS is left to take them down.

    The conceptual design for the AMDS that your company submitted in response to the RFP consists of a mobile housing unit (MHU) containing 20 anti-ballistic missiles (ABMs) based on a radically new design; an anti-missile control computer (AMCC) used to automatically target and deploy the ABMs; and a retrofitted detection device (code name: SKYEYE) built on proven, patented radar technology which your company owns. All of these devices: the ABMs, the AMCC and SKYEYE will be completely housed in the MHU, which is planned to be an enhanced18-wheel tractor-trailer. A self-contained power source (for the ABMs) and solar charged batteries for the AMCC and SKYEYE make the entire AMDS portable and completely automatic (no personnel are required to operate any of the systems). However, military personnel on a regular basis will perform routine system monitoring and maintenance, preferably from a remote site. On-site maintenance should only be needed on rare occasions expected to arise from unforeseen events such as earthquake, tornados, ice storms, etc. Should it become necessary, military personnel will move the AMDS to a location known only to them. While it was not included in the design accepted by the DoD, your company would like to be able to provide additional capability with the system: they would like the AMDS to be able to operate while it is being moved.

    You are the project manager and oversee the efforts of over a dozen nuclear scientists, engineers, and technology professionals. Many of them are acquainted with the rudiments of project management, but very few know much about project risk management. You'll need to do some education along with managing schedule, budget and scope.

    You've already started looking ahead to the time when you're going to analyze the project risks and apply control strategies. You also want to educate your entire project team on risk control and monitoring. Research risk control and monitoring methods, keeping Project X in mind.

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    Solution Preview

    The response addresses the queries posted in 1517 words with references.

    //Before we start discussing on it, I would like to tell you that you must be aware of some general concepts of project management and risk management. For this query, I am considering the given case and covering it with the project and risk management. In the first part, I am providing you an overview of project management with the given case. //

    Project Risk Management- Control and Monitoring

    Introduction

    Project Management is the process of applying knowledge, tools, techniques and skills to sequential activities: project planning, implementation, monitoring in order to achieve qualitative goal within a given specific time and budget. It is a non-repetitive process. It includes planning and monitoring people and resources in such a way so that a goal can be achieved. There are five changeable elements scope, people, process, time and risk management that affects the quality of the project. The project manager needs to manage and control effectively, the scope, schedule and budget to achieve a quality project. As all these are the fundamentals of the project, success of the project depends on these factors.

    Project Manager is the person who is responsible for proper execution of the project. He has to lead members, guide, motivate and evaluate them that to help them to perform activities in an appropriate way. To achieve a quality project, project manager should organize a plan for managing the scope, schedule and budget for a project team. This plan is especially helpful for engineers, scientists, architects and technology professionals. In the given case, all have a powerful role in successful project delivery; this would lead to success.

    The main objectives of the education are:

    ? To provide additional capability to the team members, this enhances team success.

    ? Improve timeliness and budget of the project that enhances efficiency and effectiveness.

    ? Provide practical methods for developing, controlling and reviewing the project in terms of scope, schedule and budget.

    ? Providing adequate information about the fundamental tools of project management.

    There are different methods for providing training to project members that include: lectures, videos, by solving case studies and interaction with existing members. All these methods provide practical knowledge and increase their efficiency. This training is essential to get better results and to utilize resources properly.

    ...

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