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Risks and Strategies for a New Project

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Suppose your college or organization is considering a new project that would involve developing an information system that would allow all employees and students/customers to access and maintain their own human resources-related information, such as address, marital status , tax information, and so on. The main benefits of the system would be a reduction in human resources personnel and more accurate information.

For example, if an employee, student, or customer had new telephone number or e-mail address, he or she would be responsible for entering the new data in the new system. The new system would also allow employees to change their tax withholdings or pension plan contributions. Identify five potential risks for this new project, being sure to list some negative and positive risks. Provide a detailed description of each risk and propose strategies for addressing each risk.

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Solution Preview

Hello, I would first like to define what a positive risk is. Positive risk refers to risk that we initiate ourselves because we see a potential opportunity, along with a potential for failure. So in other words, there is a positive outcome, even though there could or might be potential risks or roadblock,

I will provide you with enough information, and then you can formulate your essay based on some of these ideas.

1) a positive risk: teaching the students/teachers how to use the program. This is positive because the program is supporting them to take control of their own human resource information.

- the problem states that this program will reduce the number of HR employees needed which is a positive thing.
- There are some risks however, and it has to do with the fact that the program is online
- Not everyone has good computer skills to navigate a website
- Older employees might have never used a computer for tasks other then word processing or data crunching
- People with weaker computer skills might be hesitant to use the program
Solution: HR will set up conferences where the employees and students will be taught step by step how to access, use and manage the new system. As well, there will be a role out phase, where there will be HR staff on hand to help out when needed. Finally, to ease the mind of ...

Solution Summary

The solution assesses the risk and proposes strategies for addressing them for a new college project.

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Risk assessment meeting

You met with your department manager, a few of the stakeholders, and the sponsor last week to review the list of possible risks. They accepted most of your risks and agreed that the next step was the assessment. There was some confusion, however, over how that step should be completed. Apparently, a prior project manager did a poor job with risk assessment and felt that it was an unnecessary activity. This resulted in the project encountering several risks and always being in "fire-fighting" mode. Several of the stakeholders (who were impacted most by this mode) want a much more formal approach taken to risk assessment (as does the CEO).

You have scheduled a risk assessment meeting for later this week. Create a pre-read document for the meeting participants that will walk them through how you will run the meeting and what they should prepare in advance. In your one- to three-page document, be sure to address the following:

Who will you involve? (number of people, roles, project responsibilities)
How will you manage the group?
What is your process for assessing the risks? What techniques will you use?
Where will you start?
In preparation for the meeting and to help you focus on the upcoming task, review your list of risks. Practice the various techniques you will use by assessing at least fifteen of your risks. Create a grid for this activity. Use a qualitative method to identify the high priority and low priority risks. Provide a rationale for your responses. Then, using a semi-quantitative method, create a risk score and probability/impact matrix for the remaining risks. The columns should be organized as follows:

Risk event
Probability
Rationale for probability
Impact
Rationale for impact
Next steps (describe what you need to do with this risk event next: nothing, further analysis, or determine actions)
Be sure to include both your pre-read document and your risk worksheet.

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