Risk Analysis Case Study Synaptic

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Analysis of Risks

Introduction:

Synaptic is a bio technology company that uses a combination of both Information Management (IM) and biological research to develop drugs based on proteins and peptides. Synaptic is comprised of a large Information Management department which consists of multiple divisions within the department. Each division within the IM is in charge of communications and computer systems services, in particular research, manufacturing and infrastructure. The company also employs computational scientists that aid with the research aspect of the product development. The development of the product makes it necessary for both set of parties – the Information Management and the scientists to interact with each other. Department under the Information management provides support to the scientists in providing database and server space, data storage, execution of reports and software development. The close collaboration of both set of groups is necessary for carrying out the various projects and consequently developing the product. The collaboration of the two very distinct groups has caused several challenges within the company. One of the biggest challenges is the difference in cultures between both groups (Makarov). The scientific group place emphasis on innovation and promptness. They prefer working in privacy rather than in teams. They also don’t place much importance in documenting processes and procedures in carrying out their projects. These differences were possibly initiated by the career paths between the two professionals. These cultural differences have caused drastic decisions to be made; due to lack of risk management, this has led to serious issues within the company. This paper analyzes the problems that have occurred due to lack of proper project management steps and risk management and also provides recommendations on how to mitigate such issues in the future.

Analysis:
In order to develop a strategy to help...
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