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Risk Management Plan

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.

Assignment

After you write your risk management plan for Project X, you're going to make a formal presentation to the project stakeholders. Refer to the list you discussed with the project team during the second week of this project. How will you address the varied interests of the stakeholders when you present your plan? Develop an idea or two for each stakeholder to "sell" them on your plan.

Solution Preview

The response addresses the queries posted in 1031 words with references.

//As per the directions, we will discuss about the risk management plan of the project X that mainly discusses about the stakeholders. In this part, we will also discuss about what are the causes behind the occurrence of risk. So, firstly we will write about the risk management plan under the heading of Introduction, for example: //

Introduction

Project X: Risk Management Plan

A business organization occupied with the advancement of systems of defense is a defense contractor. Goods or services are supplied to a department of defense of government (basically for the purpose of national defense).

The stakeholders comprise of the employees, the management, the public, shareholders, creditors, investors, suppliers, and the government. The employees are interested in financial risk as they get salaries and bonus which depends on the financial condition. The government too receives taxes and thus is interested in the financial risk. Besides, the suppliers and the creditors too are concerned with the financial risk.

Risks occur because of the lack of ability of the decision maker to make perfect forecasts. It is very difficult or almost impossible to forecast with certainty or perfection since the future (on which risks depend) is uncertain. Risks refer to the invariability in returns for a project.

Risks involved in the project are several. They may include delay in completion of the project (more than 5years), over runs in the cost of the project (more than 1.5 billion $), technology risk, development risk, personnel risk (the risk which may arise due to the use of fully automated machines), ...

Solution Summary

920 words and ppt attached

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