Identifying Risk and Strategies

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Identifying Risks & Strategies ABC, Inc. is considering a new project to develop electronic access to their Human Resources (H.R.) information. They intend to allow all their customers, students and employees access to their own information and give them the responsibility to modify their information, such as address, marital status, and tax information. The primary benefit would be more accurate information while reducing the number of human resources personnel. As an added benefit to employees, the new system would also allow them to change their tax withholdings or pension plan contributions. Before starting the project, the many risks posed by the human resource project should be identified and assessed. A risk is an unknown that may have positive or negative outcomes. Sometimes they have both. There are a multitude of risks associated with this project, but five potential risks discussed below revolve around assurance of senior management commitment, scope, quality, integration and acceptance. Risk identification and assessment is an important step in the project management process. It gives the Project Manager time to handle the risks that were truly unknowable. The first risk deals with identifying the stakeholders and winning senior management commitment. Projects often have the commitment of senior management at the outset. It could even be their exciting idea. Once the details are hashed out and the costs are evaluated, the energy behind the idea could wane. This leads to the project either limping along or being cancelled outright. The project manager’s first task is to find a project sponsor and keep him and other stakeholders engaged (Schwalbe, 2014). The positive risk of engaging the sponsor and stakeh... ... middle of paper ... ...ion and acceptance. The risks described above are only a few of the possible risk for each stage of this project. Identifying risks and strategies to mitigate or take advantage of them, allows the Project Manager time to handle the situations that were truly unknowable or make a good deliverable outstanding. Good project management understands the importance of identifying these risks in order to bring their project to successful completion. References Rapalus, P. (1997). Security measures for protecting confidential information on the internet and intranets. Employment Relations Today (Wiley), 24(3), 49-58. Retrieved from https://search-ebscohost-com.csuglobal.idm.oclc.org/login.aspx?direct=true&db=bth&AN=9712164072&site=ehost-live Schwalbe, K. (2014). Information Technology Project Management (7th ed.). Boston, MA: Course Technology/Cengage Learning.

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