Project Risk Management 420 Week 6

Topics: Risk management, Project management, Management Pages: 4 (1116 words) Published: June 9, 2012
PROJ 420 (A)/Fall A 11
Executive Summary
Week 6 Assignment

Executive Summary
Due to economic strains our company is under more pressure than ever to deliver value and cannot afford to compromise productivity and efficiency. Our goal is to reduce the total cost and maximize efficiency within our office. We are continually seeking to maintain and improve our productivity and effectiveness in order to keep us from downsizing any department. Our task forces are implementing different processes that can help us find the less expensive way to meet our goal. Below we will discuss the possible risks and the recommendations to mitigate or eliminate those potential risks. We identified several risks and have assessed them in order to determine which of those risks have the highest impact on the project. Below we have listed four of our highest impact risks and have supplied a recommendation for that risk: 1. Deficiency of Skills –Lack of knowledge on proper usage of equipment. * Recommendation: Training staff on the proper way to utilize and maximize the usage of all equipment. 2. Changes – Employees retiring and fired might impact schedules * Recommendation: Better planning in order to incorporate the flow of personnel within the company. 3. Funding – County might cut funding to all departments. * Recommendation: Discuss any possible changes by the county in order to prepare for them and determine how much they can impact the project. 4. Lack of clarity – Confusion about the goal and scope of project. * Recommendation: Discuss and clarify the scope in order to ensure that it is understood by all involved. Conclusion: We will utilize The Atom Risk Management process to manage not only the above mention risks but all of them as well. Scope and Objectives of Report

Our goal is to inform all stakeholders of possible risks that can impact our project in a negative way. This will also inform us as to the status of these...
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