AminataFunchess BUS 519 assign2.docx

Rbs level 2 1 technical risk 11 scope definition 12

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RBS LEVEL 2 1. TECHNICAL RISK 1.1 Scope definition 1.2 Requirements definition 1.3 Estimates, assumptions, & constraints 1.4 Technical processes 1.5 Technology 1.6 Performance 1.7 Reliability & maintainability 2. MANAGEMENT RISK 2.1 Project management 2.2 Program/portfolio management 2.3 Operations management 2.4 Organization
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RISK MANAGEMENT PLAN 7 2.5 Communication 2.6 Quality 2.7 Reputation 3. COMMERCIAL RISK 3.1 Contractual terms & conditions 3.2 Suppliers and vendors 3.3 Subcontractors 3.4 Client/customer stability 4. EXTERNAL RISK 4.1 Legislation 4.2 Competition 4.3 Regulatory Risk Register update to include assessment data Executive Summary Scope and Objectives of Report Overall Risk Status Top Risks, Actions, and Owners Changes Since Last Review Conclusions and Recommendations Response Planning Identification of specific actions and action owners- CEO and CIO would be responsible for hiring additional staff to assist with the software issues and ensure the new hire has the ability and familiarity with the compliance standards in the industry Reporting
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RISK MANAGEMENT PLAN 8 Provision of ad hoc reports to stakeholders and project team as required -Monthly status report that cover the implementation of the program, progress reports on updates to software and PR reports on status of rebranding opportunities Implementation Monitoring of the effectiveness of agreed-upon actions and updating of project plans- each department head brief management on progress of established programs and how that have lowered the probability of future risks, including the benefits from staff training Post-Project Review A lessons-learned meeting Develop the Risk Reviews and Reporting section of the Risk Management Plan based on the project size previously determined. Risk exposure on the Data Security Risk Management Program will be reviewed monthly during the life of the project (6months). During these reviews, new risks will be identified and assessed, existing risks will be reviewed, progress on agreed-upon actions will be assessed, and new actions and/or owners will be allocated where required. The size of the project is considered medium risk. Sources of risks would include: Scope changes-other risks are discovered that could shift the focus of the assessment Changes in requirements- if requirements change on what credit card companies mandate for the security of their users Errors/omissions- during monthly reviews of software performance or updates on customer perception is inaccurate information is provided Poorly defined roles and responsibilities- new staff is unclear of company goals and how they fit into the organizational structure Poor estimating- proper funding is not allocated to complete sufficient scans of the software or lacking enough funds to update current systems
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RISK MANAGEMENT PLAN 9 Lack of qualified resources- current staff is not sufficiently trained for new requirements Unrealistic deadlines- not allowing the company enough time to repair the branding
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