Cmgt 582 Week 4

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Asset Inventory and Risk Management
Jason Lee
CMGT/582 Security & Ethics
June 9, 2011
James Taylor

Asset Inventory and Risk Management
This Asset Inventory and Risk Management Plan (RMP) will address the critical assets and the risks associated with each. The project will also discuss the Risk Management (RM) activities in support of the Backlog project. The RMP will: * Be integrated into all project management activities, and encourage working-level personnel to assimilate risk management principles as a part of their daily job functions * Meet the user’s needs with the best balance of cost, schedule, and performance * Reduce the likelihood of failure by identifying risk events and dealing with them explicitly * Risk has two components (Accenture, 2005):

* The probability of failing to achieve a particular outcome (Accenture, 2005) * The consequences of failing to meet that outcome (Accenture, 2005) Measure risks in terms of the probability of the risk occurring, and the estimated impact on the project. In addition, timing and interdependence with other risks are two more important factors that influence each risk item. Risks relate to events that could occur in the future and may affect the project (Accenture, 2005). Risk describes situations that might occur in the future. If the situation does occur, it would have a significant impact on the project (Accenture, 2005). The RM process will enable the Backlog project to create strategies that effectively address potential barriers to project success (Accenture, 2005). The RM process involves identifying, assessing/ validating, working, and managing/ reporting the project's risks (Accenture, 2005). Actions taken will also lead to current decisions and future management of the project. Project Overview

The scope of this project is to advance hire 30 personnel for Retired and Annuitant (R&A) Pay. Conduct manual processing training for 30 R&A advance hire personnel and 30 current personnel to begin processing production by the end of 4 weeks of training. Manage the personnel and processing completed by 60 personnel and production flow from production to quality assurance, and certification. During production, case production needs to be segregated and tracked by three entities: contractor, quality assurance and government leads. The contractor shall process cases to pay those member’s identified during the month which represents caseload. It is also the contractor’s responsibility to process all cases that have an approved government adjudication status with no pending action to disburse payments (i.e. all certified payments have been submitted for disbursement) and unless directed otherwise all debt collection has been initiated. Risk Manager

The Risk Manager has the primary responsibility for the day-to-day operations of the Risk Project. This includes: * Ranking the risks on a regular basis (Accenture, 2005)
* Validating risk mitigation steps include a corresponding decrease to probability and/or impact (Accenture, 2005) * Monitoring all data including contingency plans
* Reporting when risk data is past due or missing
* Validating new risk ensuring the use of IF/THEN statement used for description Risk Review Team
Supervisors and team leads are members of the Risk Review Team (RRT) and direct the RM activity as it relates to their respective areas. RRT activities/tasks as they relate to risk are as follows: * Review status of risks and discuss risk status during monthly RRT meetings * Escalate past due mitigation steps

* Review new risks to determine appropriate risk owner
* Prepare initial risk mitigation plans with steps, step owners, and due dates * Update mitigation plans and keep current
* Review probability, impact, impact date, and completeness of risks (Accenture, 2005) * Approve changes on impact date, new probability, new impact, etc. (Accenture, 2005)...
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