MSPM 6140 Walden University Pepsi Risk Management Case Study
develop detailed risk response plans for the risks identified.
Address the following items for responding to project risks in the provided Risk Management Plan Template:
- Summarize the approach for developing risk response strategies. For
example, which risks will you first attempt to avoid? Will you do it
based on the risk factor score (P*I) or on EMV? - Describe the process you will use to determine risk triggers (the event that tells you that the risk event is imminent).
- Document the risk triggers in the project risk register in Column G.
- Document risk response strategies (plans) for each risk in the
project risk register in Columns L–M. The risk response strategies
should be derived from the eight strategies from the PMBOK (PMBOK® Guide).
The detailed description of the response
should include at least one paragraph per risk and should include enough
details so that anyone can read the response plan and clearly
understand how you will respond to the risk. For example, consider the
following risk: A hurricane may strike during the conversion weekend,
forcing us to back out the data converted and delay going live by four
weeks. For this risk, you may write the following:
Example
RIsk Score: 16
Risk Strategy: Mitigation (mitigate impact)
Risk Response Plan:
We
will mitigate the impact of a hurricane hitting South Carolina during
the data conversion by moving the data conversion inland and to high
ground at Clemson University. Clemson has agreed to rent their mainframe
for 72 hours for a cost of $20,000, including labor. The red team will
shut down our system at 5pm on Friday and back up all of our data onto
tapes and provide the tapes and an inventory checklist of the tapes to
the blue team, who will drive the backup tapes and another set of new,
blank tapes to Clemson that night.
Contingency Plan:
If
the scripts fail for any reason, the system will be restored to its
original, non-converted state by using the image backups of the system.
