20 Jul Assignment
Part 1: Review Questions
- What is risk management (in your own words)? What are some best practices for balancing risk and opportunity?
- What topics need to be addressed in a risk management plan? How can identified potential risks be mitigated (explain contingency plan strategies)?
- Describe both qualitative and quantitative techniques used in analyzing risk (at least two qualitative and two quantitative). How would you communicate the results of the risk analysis?
- What software tools can be used for performing risk monitoring and control?
Part 2: Module Practice
Your organization is considering a new project that would involve developing a Human-Resource Management System. The proposed system would allow employees to access and maintain their personal and tax-related information. The main benefit of the system would be a reduction in human resources personnel and more accurate information.
Task: Identify five potential risks for this project. Make sure that you list both negative and positive risks. Provide a detailed description of each risk and propose strategies for addressing each risk. You may write your answer in forms of paragraphs or you may use a table format.
References
Schwalbe, K. (2014). Information Technology Project Management . Boston: Cengage Learning .
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