Strategic Risk Management Plan for MMS Laptop Installation

1 Edith Celestin Unit 1-4 Strategic Project and Risk Management in a Dynamic Environment PJM650-2401-04 Professor Dr. Gloria Durham Project Installation of McEvers Middle School’s (MMS) 75 New HP Envy Laptops – MMS Risk Management Plan March 3rd, 2024 1

2 TABLE OF CONTENT Replace with project name (Risk Management Plan) ................................................................ 3 UNIT 1: Project Risk Management ............................................................................................. 3 Description and Project Overview ........................................................................................... 3 Risk Management Planning (purpose and value of risk planning) .......................................... 3 Risk Management Life Cycle ................................................................................................... 3 Identify Stakeholders ................................................................................................................ 4 Project Sponsor ......................................................................................................................... 4 UNIT 2: Risk Management Plan Scope and Identification ....................................................... 5 MS Project Schedule ................................................................................................................ 5 Sponsor’s Risk Tolerance ......................................................................................................... 5 Project Risk Register ................................................................................................................ 6 Qualitative Risk Analysis and Risk Ranking ........................................................................... 6 UNIT 3: Risk Response Planning ................................................................................................. 7 Risk Response Descriptions ..................................................................................................... 7 Risk Breakdown Structure (RBS) ............................................................................................ 7 UNIT 4: Risk Monitor and Control ............................................................................................. 8 Risk Responsibility Matrix (RACI Chart) ................................................................................ 8 Contingency Budget ................................................................................................................. 8 UNIT 5: Communications Plan .................................................................................................... 9 Project Reports ......................................................................................................................... 9 Change Control Process ........................................................................................................... 9 REFERENCES ............................................................................................................................ 10 APPENDIX ................................................................................................................................... 11 2

3 MMS Laptop Program (Risk Management Plan) UNIT 1: Project Risk Management Description and Project Overview This project concerns a grant received by McEvers Middle School’s principal, Ms. Jacqueline Davis, from the school board of education for 75 new HP Envy laptops. The laptops will be placed in the three computer labs inside the school. There are criteria’s that must be met to fulfill the school’s requirements. As project manager, Edith Celestin is responsible for leading a team that includes internal and external stakeholders in providing laptop requirements. This includes the installation of certain accesses and programs. The computers must be assessed to ensure the computers have full capabilities for student interaction. There are many steps Edith will have to oversee for this project to be successful. 3

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4 Risk Management Planning (purpose and value of risk planning) The process of creating the risk management plan ensures a heightened understanding of the project’s risks across the team. The result is a project manager with more accurate information to feed into the risk management plan and the project plan, plus a more knowledgeable team about potential future changes in the project. (project management academy, 2022) Risk management plan development process helps to: 1. Identify risks with impact to the schedule, 2. Estimate cost of risks and the potential impact on the budget, 3. Increase the accuracy of the overall project plan, and 4. Communicate among, and with the team, the potential risks. (project management academy, 2022) 4

5 Risk Management Life Cycle 1. Risk Identification : Determine and Identify what is a risk. 2. Risk Analyses: Prioritize risks for further action by assessing and combining their probability of occurrence and impact, also called qualitative risk analysis. Numerically analyze the effect of identifies risks on overall project objectives (cost impact, schedule impact, etc.) Also called quantitative risk analysis. 3. Risk Response Planning: Develop options and actions to enhance opportunities and to reduce the threats created by the risk. This is still part of the evaluation stage, Preliminary planning is done to provide the team who is analyzing and deciding on the strategy of managing the risk with the estimations of work, time, and budget investments. Final planning is done to provide the implementation team with the schedule and content of the required related works. 4. Risk Response Execution & Monitoring : Execute the response to the risk. This is the resolution stage of the life cycle. 5. Execution Verification : Verify the Risk Response Execution. Use the Risk definitions defined in the first phase of the life cycle, requirements documents and collaboration materials that were created through all phases. (project management academy, 2022) 5

6 With this project life cycle, I will be able to successfully execute the project. Furthermore, this will help mitigate any risks. Identify Stakeholders STAKEHOLDER REGISTER Stakeholder Name Project Role Stakeholder Interest (H/M/L) Concerns Engagement Strategy Students User M Ease of use Trainings Teachers Facilitators M Theft/restrictions Preferred sites/Security Grant Holders Financial H Costs Update on Budget Parents Parents M Restrictions (Web) Ensure compliance School Board Administration H Security Email 6

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7 Project Sponsor The project sponsor, or executive sponsor, is a person or a group of people at the senior management level. They are responsible for the success of a project and provide necessary guidance and resources to the project team and manager. Ideally, project sponsors provide high project sustainability, strategic planning, and successful implementation of the project’s objectives. (project management academy, 2022) . The Project sponsor for this project will be the School Board of Education. 7

8 UNIT 2: Risk Management Plan Scope and Identification The Project is for McEvers Middle School for the deployment and installation of 75 HP laptops in the school’s 3 computer labs. There will be a project leader onsite who will be accountable for leading the team, including internal and external stakeholders. Installation of the required software will be conducted at HP prior to shipment. All laptops will be inspected upon arrival by IT. Once all Laptops are accounted for and inspected the installation will begin. MS Project Schedule Schedule Coming Soon Difficulty with MS Project 8

9 Sponsor’s Risk Tolerance A corporation's tolerance to risk is a calculation of how much that corporation is willing to endure. Gallo and Schmaling (2022) provided supported detail on how the leniency of a company plays a role in how much risk the business will undergo;"...the leniency effect depends on the riskiness. “Although similar, risk tolerance and risk appetite are both terms used to represent the organization's willingness to endure. Risk appetite is qualitative and represents risks in a broader fashion by using descriptive explanation, while risk tolerance is better described as quantitative or by representation of a number scale or probability (Gonzalez, 2023). All risks taken by a corporation can be arranged in a high-to-low observation on how that risk may affect the company if it arises. High is a vulnerable risk from which the company will feel repercussions, and low describes a risk with little to no impact on the organization. It is extremely important to communicate the level of risk a company is willing to take to all stakeholders and organizational leaders to avoid risks that may have negative side effects, or that can be avoided. Once established, risk tolerance should be monitored through strategies such as risk mitigation to avoid any unacceptable limits being reached (Gonzalez, 2023). 9

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10 Project Risk Register: ID Risk Category Risk Description Impact Pro bab ilit y Positive/ Negative Risk Ranking Response Plan Trigger Event Reactive Contingency Plan 1 Missing Equipme nt Shipment is received but order incomplete VH M Negative 1- Add steps to the WBS to speak with the Manufacturer for confirmation of equipment 2-Have a stakeholder put in charge of requesting an additional check with the manufacturer. 3-Transfer and mitigate. Manufactur er Does not check shipment shipping. Perform all tasks regarding configuration with equipment that is receives 2 Equipme nt does not work One or more laptops are not powering on properly and / or cords are not working H L Negative 1-Have a project team member contact the manufacturer to ensure shipment qualify and details 2-Project leader requests contact info for the driver/transporter of equipment in case of needed contact 3-Accept and Transfer (if needed) While shipping laptops are not managed with care. Immediately contact the Manufacture to set up arrangements for replacements 3 Shipment Delays Shipment is due to be delivered to warehouse, but are held in transit with no delivery date available M M Negative 1-Add step to the WBS to ensure confirmation of shipment 2-Have a stakeholder put in charge of request tracking of shipment once shipped 3-Mitigate with the provided tracking number and communicate with the manufacturer. Parts did not ship on the required date. Due to the project not starting until 5 days after the equipment is received, the start time of the project will not begin until supplies are delivered. 4 Configur Laptops are M L Negative 1-Assign an IT Systems for Have a project 10

11 ation Errors not able to be configured with the current monitors in the computer laboratories project team member to assess the problem. 2-Be prepared to continue onto the next step on WBS until current monitors are capable. 3-Avoid by having experienced team members ready for the occurrence. laptops and current monitors are conflicting. team member prepared to troubleshoot. 5 Insufficie nt technicia ns/ Assistanc e The technicians’ team is not fulfilling their requirement on time efficiently. M VL Negative 1-prepare team meetings at the beginning and end of each week to review project status. 2- communicate requirements periodically to all team members. 3-Keep updated status reports accessible to allow progress in project timeline if possible. 4-Mitigate. Improper training and communica tion for the required tasks. Hold immediately and periodic team meeting to keep the entire party informed and held accountable. 6 Technolog y advances Due to the advancement of the laptops, the team required to update all monitors in the computer laboratory to link to existing monitors. L H Positive 1-Have a project team member prepared to update all current monitors. 2- Include a step early in the WBS to examine the hard-drivers on the current monitors in the computer labs 3- A lot of time and budget for this take on and as needed daily. 4-Accept Systems for laptops are current updated while school’s current computers are not. Have an IT team member assess the current monitors for any needed updates before beginning configurations. 7 Insufficie nt space/stor age There is not enough space available in the computer laboratories to station or store H L Negative 1-Include a step- in the WBS to meet with all computer Lab administrators to discuss areas in Available space was not arranged prior to the project. Set up accommodation s with Jackeline to place laptops in a different location until 11

12 all seventy- five laptops which the laptops will be placed prior to beginning the project. 2- Escalate space is available 8 Project is completed early All equipment is received, installs and configurations process smoothly and capacity so efficient leaking to the project being completed early M M Positive 1-Proper communication with team members. 2-Prepared team meetings progressively 3- Support all areas of tasks when needed to ensure completion as efficiently as possible. 4-Enhance the chances of his happening by communicating consistently with team members. All equipment, install and capacity are completed with little to no delays. Permit more time for testing and arrange training sessions with staff to ensure proper knowledge on security and restrictions. 9 Received twenty- five extra laptops from manufactu rer The manufacture learns of the grant for the Middle School and decided to donate five additional laptops for the cause. L VL Positive 1-Inform team of additional laptop. 2- Ensure Microsoft is purchased and installed on five additional. 3-Communicating additionally to ensure space is available. 4-Enhance and accept the opportunity. Manufactur er being aware In the case this does not happen processed as planned with original seventy-five. 10 Laptops are received with Microsoft 365 Already installed The manufacturer leans a of the grant and proceeds to install an updated version of Microsoft 365 on each Laptop prior to shipment being sent. VH VL Positive 1-Replace and skip over this step on the WBS and give more time towards setting up security and monitoring 2- Accept Manufactur ed being willing to grant further assistance for the school in need. In the case this does not happen proceed as planned as planned with installing on each device 12

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13 Project Risk Register Qualitative Risk Analysis and Risk Ranking Very high 10 1 High 7,2 Medium 5 4 8,3 IMPACT Low 9 6 Very low Very low Low Medium High Very high PROBABILITY UNIT 4: Risk Response Planning A major factor in risk management is how important it Is to be initiative-taking when responding if a risk, positive or negative, may arise. Within this unit, we will discuss the importance of risk response strategies and how they play a role in both positive and negative risks during a project. Parsadi (2018) describes the difference between negative and positive risks as negative being "known as threats, and positive risks as opportunities". When responding to negative risks, we focus on the avoidance or lower impact the risk may have on the project. While responding to positive risks, we will focus on increasing the likelihood of the risk occurring. 13

14 Unit 4: Risk Response Descriptions Parsadi (2018) provides a clear breakdown of the risk responses for both negative and positive risks. Negative Risk Response Strategies Positive Risk Respond Strategies Avoid: Used by eliminating the risk through adjustments in the work schedule or tasks. Configuration errors can be avoided if an IT expert is responsible for ensuring existing equipment is up to date. Enhance: You respond by increasing the likelihood of the risk occurring. Realize the opportunity (Parsadi,2018). Enhancement is most beneficial in the situation that the project is completed early as well as if the manufacturer decided to contribute twenty- five additional laptops for the school. Mitigate: Though assessment, you can gain a probability of the risk occurring and thus are able to prepare before it occurs. Using equipment tracking to ensure delivery on time, equipment is not missing in shipment, and that technician assistance is par to completing the project. Exploit: The opposite of avoiding negative risk response (Parsadi,2018) But making the risk clear and exposed. Transfer: This is when a request for assistance through a third party is needed to manage. As stated, om the “ACCEPT” negative risk response, we will transfer responsibility to the supplier in the case that equipment is mishandled during shipping before being received, and supplies are missing. Escalate: When you realize there is a potential risk and is beyond your control to expose. Call in reinforcements of a higher power. Escalate: Though self-explanatory, this is when and issue is beyond your expertise, and you escalate to upper stakeholders.’ The escalate risk response is insufficient space and storing as school officials will oversee attaining resource space. Accept: Simply stated, accept the occurrence, and take no further action. If the equipment is received and Microsoft 365 is pre-installed or if the manufacturer ship twenty-five additional laptops for the school, we will manage this risk through acceptance and adjust tasks as needed. Accept: Used for more non-critical risks, simply accept the occurrence to act. In the situation where the project is faced with technological advances or equipment is received but does not work (this will also be considered a transfer response as we will need to contact the supplier). We will accept. Share: Respond by providing more opportunities for others to receive or participate. 14

15 Risk Breakdown Structure (RBS) As stated in Project Management: What is Risk Breakdown Structure(n.d.), a more disciplined process is when companies and Project Managers break down project risks into a checklist that elaborates on the potential project risks. This checklist allows for in-depth discussion regarding sources of risks and how those source categories lead to potential risks. The RBS offers a clear and visual reference to the project’s main tasks, and the stakeholder team is then able to expand on each topic/task to brainstorm possible risks more effectively. Installation of McEvers Middle School's (MMS) 75 New HP Envy Laptops  Testing Technical Organizational Project Management Software Functionality Computer Shipment Delays Stakeholders/Team Connections Software Missing Equipment Communications Configurations Network Equipment Malfunctions Resources Servers Advances in Technology Servers 15

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16 UNIT 4: Risk Monitor and Control Regularly review and update the Risk identification, prioritization, analysis, my response process and adjust them as needed for any uncertainties. I will closely monitor these as they could affect the project, its schedule, and its budget. I will also track and measure the actual performance and outcomes of the project against what was planned. Objectives and baselines will be carefully monitored so that any risks can be mitigated, and stakeholders and the project team can be communicated with quickly. Risk Responsibility Matrix (RACI Chart) R =Responsibility, A =Accountability, C =Consulting, I =Information) RACI matrix as bringing ‘structure and clarity to the roles of stakeholders’ Risk Description Resource1 Resource2 Resource3 Resource4 Resource5 Resource6 Shipment is received but needs equipment such as power cord, etc. Rebecca Tarkett (R) Jacqueline Davis (A) Harry Potter(I) One or more laptops are not powering properly, and the cords are not working. Hermione Granger (R) Harry Potter(A) Rebecca Tarkett (C) Jacqueline Davis (I) Shipment is due to be Jacqueline Davis (R) Rebecca Tarkett(A) Harry Potter(I) 16

17 delivered on Feb 5 th , 2024, but held in transit with no delivery date available. Laptops are not able to be configured with the current monitors in the computer. Ron Weasley(R) Hermione Granger (A) Jacqueline Davis (C) Rebecca Tarkett (I) The technician team is not fulfilling their requirements in a timely manner and efficiently. Rebecca Tarkett (R) Jacqueline Davis (A) Due to the advancement of the laptops, the team is required to update all monitors in the computer laboratory to link to existing monitors. Harry Potter(R) Hermione Granger (A) Jacqueline Davis (C) Rebecca Tarkett (I) There is not enough space available in the computer laboratory to station or Jacqueline Davis (R) Rebecca Tarkett(A) Harry Potter(C) 17

18 store the laptops. All equipment is received, installed, and configured. Process and capacity are efficient leading to the completion of early Rebecca Tarkett (R) Hermione Granger (A) Harry Potter(C) The manufacturer learns of the grant for the Middle school and decides to donate to the cause Harry Potter(R) Rebecca Tarkett (A) Hermione Granger (C) Ron Weasley(C) The manufacturer learns of the grant and proceeds to install an updated version of Microsoft 365 on each laptop prior to shipment being sent. Jacqueline Davis(R) Rebecca Tackett(A) Ron Weasley(C) Hermione Granger(I) 18

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19 Contingency Budget Risk Description % Probability Impact Cost $ Probability $ Impact Equipment does not work 35% $-3000.00 $-1050.00 Ex. Computer wiring 20% $-5000.00 $-1500.00 Missing equipment 35% $-3000.00 $-600.00 Shipment Delays 35% $-2000.00 $-700.00 Configuration Errors 20% $-3000.00 $-600 Insufficient Technicians Assistance 15% $-1500.00 $-225 Technology Advances 40% $-500.00 $-200 Insufficient Space and storage 20% $-750.00 $-150 Project is completed early 25% $-2500.00 $650 Received extra 25 Laptops from Manufacturer 5% $-1500.00 $75 Laptops are received with Microsoft 365 already Installed 10% $-3000.00 $30 Total Contingency = $2795.00 19

20 Unit 5: Communications Plan Valuably, one of the most fundamental aspects of human life is communication. It is the sole source of interactions and exchanging ideas, whether spoken or unspoken and is a vital source within project management. Gray (2020) describes a communication plan as a key component in transferring information and tracking project schedules, issues, and actions throughout a project lifecycle. The project manager typically creates the communication plan in the initial stages of project planning to express the who, what, when, why, and how all necessary information will be gathered and transmitted. Description Type Goal Delivery Method Frequency Audience Responsible Person Material Inventory Ensure all materials are present for In-person Start and End of Project All team Members and Project Jacqueline Davis 20

21 project completion. Sponsor Weekly Report Review the progress of the project and provide adjustments if needed. Team Meeting Weekly All team Members and Project Sponsor Rebecca Tackett Status Report Brief update on status of Project and Daily Goals Email Daily and End of the week Individually with each Team member Ron Weasley List of Risks and setbacks Evaluation of potential risks for project and brainstorming and as needed if project Risk arises. Team Meeting Beginning of planning then as needed All team members and project sponsor Rebecca Tackett Project Review Review the completion and status of milestone as it is complete. Gather feedback and discuss next steps. Email and in person (as needed) End of each Milestone and as needed Project Manager and Sponsor’s Rebecca Tackett Project Sponsor Status Evaluate and summarize progress and Next steps Update pm timeline. Team Meeting End of project All team Members Rebecca Tackett Post project and Final Assessment Discussion Project successes and failures collect all input and suggestions for Team Meeting End of project All team Members Rebecca Tackett 21

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22 future projects. Project Reports 1-Above is a risk matrix that can be used to assess and manage risk throughout a project. The risk ranking and score section provides a color and number scale for factoring in the impact or influence the threat may have on the project and its successes. This is appropriate when prioritizing risks and when/how to manage them if they arise. 2-The risk score/ranking also plays into the second section, risk tolerance. This defines how impactful the risk is and if it can be in action but also lead to success for the project or if it needs to be entirely mitigated or avoided. The last two sections explain who is responsible for mitigating said risk should it arise and the response that can be implemented. This type of risk management template offers an exaggeration and prioritization of project risks that can lead to effective decision-making to alleviate the possible danger. 22

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23 Change Control Process REFERENCES 1. Gallo, S. A., & Schmaling, K. B. (2022). Peer review: Risk and risk tolerance. PLoS One,7(8) https://doi.org/10.1371/journal.pone.0273813 2. Gonzalez, Z. (2023). Qualitative Risk Analysis & Quantitative Risk Analysis. SafetyCulture.https://safetyculture.com/topics/qualitative-and-quantitative-risk-analysis/ #:~:text=As%20mentioned%20earlier%2C%20qualitative%20risk 3. Institute, P. M. (2019). The Standard for Risk Management in Portfolios Programs and Projects. Independent Publishers Group (Chicago Review Press). https://coloradotech.vitalsource.com/books/9781628255669 4. Kopta, M. (2023, March 9). What are the most common problems with IT projects? Leaware.com.https://leaware.com/what-are-the-most-common-problems-with-it-projects/ 5. Ordenes, P. (2022). How to Manage Strategic Risk for Organizational Success. www.cascade.app.https://www.cascade.app/blog/strategy-risk-guideParsadi. (2018, March 29). Risk Response Strategies in Project Management. HTTPs://parsadi.com/risk- response-strategies/ 6. Project Management: What is Risk Breakdown Structure. (n.d.). Online.visual- Paradigm.com.https://online.visual-paradigm.com/knowledge/breakdown-structure/what- is-risk-breakdown-structure/ 7. Schibi, O. & Lee, C. (2015). Project sponsorship: senior management's role in the successful outcome of projects. Paper presented at PMI® Global Congress 2015— EMEA, London, England. Newtown Square, PA: Project Management Institute. 8. Teamwork. (2020). Project Stakeholders - Who Are They & Why Are They Important? www.teamwork.com. https://www.teamwork.com/project-management-guide/project- stakeholders/ 9. Financial Risk Assessment and Management Register Risk Management and Mitigation Strategy. (2023, January 11). Www.slideteam.net. https://www.slideteam.net/financial- risk-assessment-and-management-register-risk-management-and-mitigation-strategy.html 10. Gonzalez, Z. (2023). Qualitative Risk Analysis & Quantitative Risk Analysis. Safety Culture. https://safetyculture.com/topics/qualitative-and-quantitative-risk- analysis/#:~:text=As %20mentioned%20earlier%2C%20qualitative%20risk 23

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24 11. Edith Celestin Bibliography project management academy. (2022, December). Prepare for PMP exam . Retrieved from Project Management Academy: https://projectmanagementacademy.net/resources/blog/introduction- to-risk-management-plan/#:~:text=It%20can%20be%20said%20that%20the%20risk %20management,among%2C%20and%20with%20the%20team%2C%20the%20potential %20risks. the World's Leading Professional Association for Project Management . (n.d.). Retrieved 2 18, 2024, from PMI: http://www.pmi.org APPENDIX 24

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Edith Celestin PJM650 Unit 4

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