Discuss About The Assisting Project Risk Management Method Selection.
Tier One Suppliers Insurance Group provides insurances to tier one suppliers. They employ agents to visit clients and make deals with them, management, with the increase in business, it is trying to attract more customers and helps their agents to minimize time taken in sending the data captured in the field on to the centralized server.
Following are some of the key objectives for the proposed project:
The key objective for the project is to develop a new information system that would allow one to handle customer’s needs better and also allowing agents to attract newer and more customers with high risk profiles.
Following are some of the key deliverables for the newly proposed system:
Milestone Name |
Start |
Finish |
Milestone 1: Project charter approval |
Thu 21/06/18 |
Thu 21/06/18 |
Milestone 2: Purchase CRM and cloud vendors |
Tue 10/07/18 |
Tue 10/07/18 |
Milestone 3: Approve UI design |
Thu 09/08/18 |
Thu 09/08/18 |
Milestone 4: Coded system |
Tue 23/10/18 |
Tue 23/10/18 |
Milestone 5: Tested system |
Thu 08/11/18 |
Thu 08/11/18 |
Following are some of the key technical and project management requirements related to the project:
Following are some of the key exclusion and limits for the project (Tamir and Yang, 2015)
WBS |
Task Name |
1 |
Cloud based TOSIG Automated System |
1.1 |
Project planning |
1.1.1 |
Create scope statement |
1.1.2 |
Identify stakeholders |
1.1.3 |
Create project charter |
1.1.4 |
Approve project charter |
1.1.5 |
Milestone 1: Project charter approval |
1.2 |
Project execution |
1.2.1 |
CRM selection |
1.2.1.1 |
Prepare CRM requirements |
1.2.1.2 |
Conduct market research |
1.2.1.3 |
Finalize 3 vendors |
1.2.1.4 |
Approve CRM vendor |
1.2.2 |
Cloud service provider selection |
1.2.2.1 |
Prepare cloud service provider requirements |
1.2.2.2 |
Conduct market research |
1.2.2.3 |
Finalize 3 vendors |
1.2.2.4 |
Approve cloud service provider vendor |
1.2.3 |
Milestone 2: Purchase CRM and cloud vendors |
1.2.4 |
System implementation |
1.2.4.1 |
Graphic design |
1.2.4.1.1 |
Create wireframes |
1.2.4.1.2 |
Create UI screens |
1.2.4.1.3 |
Handover to Developer team |
1.2.4.2 |
Milestone 3: Approve UI design |
1.2.4.3 |
System design |
1.2.4.3.1 |
Create High Level Design |
1.2.4.3.2 |
Create Low Level design |
1.2.4.3.3 |
Handover to developer team |
1.2.4.4 |
Coding |
1.2.4.4.1 |
Create database |
1.2.4.4.2 |
Implement business logic |
1.2.4.4.3 |
Integration with database |
1.2.4.4.4 |
Integrate CRM |
1.2.4.4.5 |
Integrate cloud |
1.2.4.5 |
Milestone 4: Coded system |
1.2.5 |
Testing |
1.2.5.1 |
System testing |
1.2.5.2 |
Application testing |
1.2.5.3 |
Prepare bug summary |
1.2.6 |
Milestone 5: Tested system |
1.2.7 |
Resolve bugs |
1.2.8 |
Go-Live |
The project starts on 6th June 2018 and ends on 23rd November 2018 with total duration of 123 days.
The total cost of the project has been done using Apportion method under Top-down approach. It is assumed that budget is available for each activity. The cost shall include following items (Marle, 2014).:
Resources are managed through RACI matrix: R- Responsible, A – Accountable, C – Consulted, I – Informed
Task Name |
Resource Names |
PM |
GUI |
PG1 |
PG2 |
DBA |
TR |
AO |
BA |
Create scope statement |
Project manager |
RACI |
I |
I |
I |
I |
I |
I |
I |
Identify stakeholders |
Project manager |
RACI |
I |
I |
I |
I |
I |
I |
I |
Create project charter |
Project manager |
RACI |
I |
I |
I |
I |
I |
I |
I |
Approve project charter |
Project manager |
RACI |
I |
I |
I |
I |
I |
I |
I |
Milestone 1: Project charter approval |
|||||||||
Prepare CRM requirements |
Business analyst |
ACI |
I |
I |
I |
I |
I |
I |
R |
Conduct market research |
Administration officer |
ACI |
I |
I |
I |
I |
I |
R |
I |
Finalize 3 vendors |
Business analyst |
ACI |
I |
I |
I |
I |
I |
I |
R |
Approve CRM vendor |
Project manager |
RACI |
I |
I |
I |
I |
I |
I |
I |
Prepare cloud service provider requirements |
Business analyst |
ACI |
I |
I |
I |
I |
I |
I |
R |
Conduct market research |
Administration officer |
ACI |
I |
I |
I |
I |
I |
R |
I |
Finalize 3 vendors |
Business analyst |
ACI |
I |
I |
I |
I |
I |
I |
R |
Approve cloud service provider vendor |
Project manager |
RACI |
I |
I |
I |
I |
I |
I |
I |
Milestone 2: Purchase CRM and cloud vendors |
|||||||||
Create wireframes |
Graphical user interface developer |
ACI |
R |
I |
I |
I |
I |
I |
I |
Create UI screens |
Programmer 1 |
ACI |
I |
R |
I |
I |
I |
I |
I |
Handover to Developer team |
Project manager |
RACI |
I |
I |
I |
I |
I |
I |
I |
Milestone 3: Approve UI design |
|||||||||
System design |
|||||||||
Create High Level Design |
Programmer 2 |
ACI |
I |
I |
R |
I |
I |
I |
I |
Create Low Level design |
Programmer 2 |
ACI |
I |
I |
R |
I |
I |
I |
I |
Handover to developer team |
Project manager |
RACI |
I |
I |
I |
I |
I |
I |
I |
Coding |
|||||||||
Create database |
Database developer |
ACI |
I |
I |
I |
R |
I |
I |
I |
Implement business logic |
Programmer 1 |
ACI |
I |
R |
I |
I |
I |
I |
I |
Integration with database |
Programmer 1 |
ACI |
I |
R |
I |
I |
I |
I |
I |
Integrate CRM |
CRM license[1],Programmer 1 |
ACI |
I |
R |
I |
I |
I |
I |
I |
Integrate cloud |
Cloud service[1],Programmer 1 |
I |
R |
I |
I |
I |
I |
I |
|
System testing |
Tester |
ACI |
I |
I |
I |
I |
R |
I |
I |
Application testing |
Tester |
ACI |
I |
I |
I |
I |
R |
I |
I |
Prepare bug summary |
Tester |
ACI |
I |
I |
I |
I |
R |
I |
I |
Milestone 5: Tested system |
ACI |
I |
I |
I |
I |
I |
I |
I |
|
Resolve bugs |
Programmer 1, Programmer 2 |
ACI |
I |
R |
R |
I |
I |
I |
|
Go-Live |
Project manager |
RACI |
I |
I |
I |
I |
I |
I |
I |
(Mallery, 2011)
To manage the the associated risks for the project, the team would make use of a systematic approach wherein the risks will be identified. Risk assessment are handled using the Crawford Slip Method. This is because, this method is known for being simple and effective at gathering risks from the team and the experts and results are often accurate. In this method a simple slip is passed onto the participants and in a meeting a very specific set of questions are asked and they are to write their responses on those slips. Once these risks are listed, they are then reviewed and finalized for the final risk register. The risks are then categorized based on their probability and impact ratings so that an effective plan can be created to deal with them. Also, the meetings would be conducted regularly to update sponsors and stakeholders. Also, it would provide the necessary reports for risk management. The project manager and the team members are responsible for reporting of these risks. Once the project is completed, the project team would assess what risk factors have come up and how it needs to be handled. They would also allow for the outcome and assess if there is any scope for improvisation.
ID |
Risk |
Likelihood (1 to 10) |
Impact (1 to 10) |
Detection difficulty (1to 10) |
When |
R1 |
Miscommunication |
5 |
5 |
7 |
During entire project |
R2 |
Disinterest from stakeholders |
2 |
5 |
2 |
During entire project |
R3 |
Huge change in the requirements at testing phase |
4 |
7 |
4 |
Finishing |
R4 |
Software bugs |
5 |
4 |
6 |
After development phase |
R5 |
Extra emphasis on low-priority task |
5 |
6 |
5 |
During development |
R6 |
Sickness or resign of key resources |
4 |
5 |
4 |
Anytime during the project |
R7 |
Increase in the budget |
6 |
7 |
5 |
Anytime during the project |
R8 |
Unexpected quality of deliverables |
7 |
6 |
4 |
After project completion |
R9 |
Risks related to scheduling |
5 |
4 |
5 |
Anytime during the project |
R10 |
Deliverables deadlines are missed. |
6 |
7 |
6 |
After each phase |
(Pinto, 2015)
ID |
Risk |
Response |
Contingency plan |
Trigger |
Responsible |
R1 |
Miscommunication |
Reduce |
Conduct meeting |
Integrity get impacted |
Project manager |
R2 |
Disinterest from stakeholders |
Reduce |
Convey pros and cons |
New requirements |
Project manager |
R3 |
Huge change in the requirements at testing phase |
Scope clarify |
Correct signing of clients |
Changes in requirements |
Project manager |
R4 |
Software bugs |
Eliminate |
End-to-end testing |
Unable to execute certain functions |
Programmer 1 and Programmer 2 |
R5 |
Extra emphasis on low-priority task |
Shift the focus |
Differentiate between high and low priority task |
Lesser time for main tasks |
Project manager |
R6 |
Sickness or resign of key resources |
Use alternate resources held as backup |
Have other resources and extra backup time |
Delay in project completion |
Project manager |
R7 |
Increase in the budget |
Reduce |
Use contingency cost |
Cost not available |
Project manager |
R8 |
Unexpected quality of deliverables |
Reduce |
Use industry expert |
Quality issue |
Project manager |
R9 |
Risks related to scheduling |
Mitigate |
Use advises from industry experts |
Delay on project completion |
Project manager |
R10 |
Deliverables deadlines are missed. |
Reduce |
Use advises from industry experts |
Delay on project completion |
Project manager |
(Deeprose, 2002)
Both current and future risks should be managed within the project scope, resources and time. The project manager and programmer 1 will be responsible for managing risks. They shall also find ways to mitigate, reduce or avoid them. In case, such. Identified risks are not feasible to eliminate or attend, then they should be considered as constraints of the project. To complete project on time and within the defined budget, extra resources may be added to the project. However, this should be considered only in worst case scenario. Budget and scope should only be altered when the risk is not handled using mitigation and avoidance techniques.
The communication plan frames platform using which the project members and stakeholders communicate with each other. In other words, it can be defined as a guideline of communication for the project. It is always kept updated with the change in the needs of the project. The roles of each stakeholder is defined precisely in it. The plan includes a communication matrix.
The communication matrix depicts the requirements and needs of communication in the project. It describes: What information is to be communicated, when it is to be communicated, who are the target audience and what are the communication methods. It makes sure that each and every meeting should serve its purpose (Heerkens, 2015).
What information to be communicated |
Target audience |
When |
Methods of communication |
Provider |
Milestone report |
Employees |
Monthly |
Meeting |
Project manager |
Project progress report |
Project owner |
Weekly |
|
Project manager |
Team status report |
Project manager and project owner |
Biweekly |
Meeting |
Group members |
Issues/conflicts report |
Project owner |
Weekly |
Meeting |
Project manager |
Escalation report |
Employees |
When needed |
Meeting |
Project manager |
Approved change request |
Employees |
Anytime |
Meeting |
Owner |
References
Deeprose, D. (2002). Project management. 2nd ed. Oxford (UK): Capstone, p.14.
Heerkens, G. (2015). Project management. 3rd ed. USA: Mcgraw-Hill Education, p.12.
Mallery, M. (2011). Project Management Portal (PMP) from the University of Washington Information Technology Wiki – https://wiki.cac.washington.edu/display/pmportal/Project+Management+Portal. Technical Services Quarterly, 28(3), 365-367. https://dx.doi.org/10.1080/07317131.2011.574546
Marle, F. (2014). Assisting project risk management method selection. International Journal Of Project Organisation And Management, 6(3), 254. https://dx.doi.org/10.1504/ijpom.2014.065255
Pinto, J. (2015). Project Management. 2nd ed. USA: Pearson Education UK, p.20.
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