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Risk Rating

You have been asked to be the project manager for the development of an information technology (IT) project. The system to be developed will allow a large company to coordinate and maintain records of the professional development of its employees. The company has over 30,000 employees who are located in four sites: Florida, Colorado, Illinois, and Texas. The system needs to allow employees to locate and schedule professional development activities that are relevant to their positions. Sophisticated search capabilities are required, and the ability to add scheduled events to the employees' calendars is desired. The system needs to support social networking to allow employees to determine who is attending conferences and events. This will promote fostering relationships and ensure coverage of conferences that are considered of high importance.

Once an activity has been completed, employees will use the system to submit the documentation. The system should support notifications to management personnel whenever their direct reports have submitted documentation. The system should also notify employees if their deadline to complete professional development requirements is approaching and is not yet satisfied. For the given scenario, answer the following questions in 400-600 words:

The goal is to get this system up and running at the start of the next fiscal year.

For the given scenario, complete the following:

Identify all risks and rate each risk.
Select 2 of the highest risks. Explain why these are considered high risk, and explain their potential effect on the project.
Outline a risk mitigation strategy for the 2 selected high risks.

Solution Preview

Nature of Risk and Rating:

1) The completed project may not meet the needs of the end users: High Risk

Impact: If the project does not meet the needs of the end users, the total investment will go waste as the deliverable will fail to satisfy the needs of the users and the ultimate objective for developing the software may not be attained.

2) Overbudgeting: High Risk

Impact: The management will have to spend more than originally planned and the expected ROI on the project will decline.

3) Project not completed on time: High Risk

The delay will put pressure on resources as costs will increase, as well as the organization may lose strategic or competitive advantage due to such delays. ...

Solution Summary

Discusses risk related to an IT project.