Global Bike Industry Raunak Mor

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Cognizant Technology Solutions

FIT 5101 – Enterprise Systems
Assignment 2: GBI Risk Management Strategy

Date: 06/05/2013

RAMANATHAN RAGUPATHI | 21751781 RAUNAK MOR | 23874449 LOVELEEN MANSINGHKA | 19143656

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Ramanathan Ragupathi |Raunak Mor |Loveleen Mansinghka FIT 5101: Enterprise Systems

Executive Summary
Risk assessment is one of the most crucial elements in the implementation of an ERP system that determines the success or failure of the whole system. GBI is vulnerable to various implementation risks and failing to assess these risks appropriately may result in budget and resource allocation problems. A careful analysis has been undertaken in this report to identify six major critical risk factors which need to be managed in order for the project to succeed. These critical risk factors have been classified into four categories: Extreme, High, Medium and Low. The report also provides a comprehensive risk framework covering the potential risks and discussing ways to manage the current risks. For a clear overview of risk management, the risks are based on the impact and probability of their occurrence. Furthermore, the report discusses an effective risk mitigation strategy which is comprised of two parts: how to prevent the risk from happening and the contingency plans to minimize its impacts, in case the risk occurs. The final section of the report focuses on risk monitoring, where the process of monitoring the behavior of different risks is identified. These are categorized into four categories (Extreme, High, Medium and Low) for the purpose of tracking and for the eventual identification of appropriate mitigation strategy. Thus, this report seeks to provide an elaborate risk management framework to effectively manage the risks in the project and ensure a successful ERP implementation.

Date: 06/05/2013

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Ramanathan Ragupathi |Raunak Mor |Loveleen Mansinghka FIT 5101: Enterprise Systems

TABLE OF CONTENTS
1. Introduction .......................................................................................................................................... 4 Understanding Risk Management ................................................................................................ 4 1.2 1.3 2. Importance of Risk Management ................................................................................................. 4 Report Structure ........................................................................................................................... 4

Risk Assessment ................................................................................................................................... 5 Internal Project Risks .................................................................................................................... 5 2.1.1 Literature review.......................................................................................................................... 6 2.1.2 Critical Risk Matrix ..................................................................................................................... 13

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Risk Mitigation Matrix........................................................................................................................ 14

3.1 Understanding Risk Mitigation ............................................................................................................. 14 3.2 Importance of Risk Mitigation .......................................................................................................... 14 3.3 3.4 4. Risk Mitigation Strategy .............................................................................................................. 15 Risk Mitigation Matrix ................................................................................................................. 17

RISK MONITORING...
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