AminataFunchess BUS 519 assign3.docx

Management process project specific requirements

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management process, project specific requirements, objectives of workshop, agenda Expectations and Results (1 hour) - Cover who is responsible for what portion of the risk process, and what the end goal should be for each area. Accomplishments and milestones should be noted throughout the process to ensure project remains on schedule. Identify Risks (1 hour) - Discuss high level risk. These would consist of the software the company uses currently and if there are upgrades needed or a new system needs to be purchased. Employees and who has access to which systems and do they require background checks to reduce chances of customers’ data being released from the inside. Security scans and other maintenance of the security systems must be done on a consistent basis for compliance purposes. Rationalize risks (1 hour) – For the risk that are not considered high level, it needs to be determined if the risks are actual risks or just issues. Categorize the risks and issues. Move to resolve each based on priority. Describe risks using risk metalanguage (1 hour) - This would include taking an aggressive response by making the threat unable to occur or taking advantage of an opportunity by making sure it happens. Reduce or increase the risk depending on if it is a threat or an opportunity. Involve someone else to manage the risk or take part in the opportunity. Taking additional risks that can have affects later down the line. Record identified risks (30 min) – After each risk has been identified, ensure a person is responsible for each risk. Have an action plan in place for continued follow up with each point of contact.
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RISK WORKSHOP AND RISK REGISTER 4 Explanation of assessment scheme (1 hour) – This is discussing how the threats and opportunities were determined and assess the values given for the probability and impact scoring. This will allow the group to discuss any discrepancies when formulating the impacts on the project objectives and any bias members of the project may have (Hillson and Simon p.71-72). Assessment of probability and impacts (1 hour) – This is discussing what the chances are for a risk to occur and what the potential outcome would be if that happened . What is the likelihood that another data breach would occur and how would that affect the business? This assessment is extremely important because certain risks would destroy the business. The probability of a risk occurring will gage its priority and what needs to be done about it, if anything. Risk categorization (30 min) – Separating risks from high to low in priority. Risks can be assigned to different staff members at Flayton’s depending on their area of expertise and possibly their tenure with the company. This method will help avoid any surprises that could further damage the reputation of the business. Nomination of risk owners (30 min) – This is needed to determine who is responsible for assigned risks. The Project Sponsor (Brett Flayton) and Project Manager (CIO Sergei) can follow up with designated staff members on progress reports and developments for each risks, threats, and opportunities.
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