Discuss and write a short summary on how to help Chris and the company in managing the risk Cliff Branch was the president of a small IT consulting firm that specialized in developingInternet and mobile applications and providing full-service support. The staff consistedof programmers, business analysts, database specialists, web designers, project manag-ers, and others. The firm had 50 full-time people and planned to hire at least 10 morein the next year. The firm also planned to inerease the number of part-time consultantsit used. The company had done very well during the past few years, but it was recentlyhaving difficulty winning contracts. Spending time and resources to respond to variousrequests for proposals from prospective clients was becoming expensive. Many clientswere starting to require presentations and even some prototype development beforeawarding a contract.Cliff knew he had an aggressive approach to risk and liked to bid on the projectswith the highest payoff. He did not use a systematic approach to evaluate the risks in-volved in various projects before bidding on them. He focused on the profit potentialsand on how challenging the projects were. His strategy was now causing problems forthe company because it was investing heavily in the preparation of proposals, yet win-ning few contracts. Several employees who were not currently working on projects werestill on the payroll, and some of their part-time consultants were actively pursuing otheropportunities because they were being underutilized. What could Cliff and his companydo to better understand project risks? Should Cliff adjust his strategy for deciding whatprojects to pursue? How?

Risk management is one of the main factor which plays an important role for an IT company. Risk…

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Discuss and write a short summary on how to help Chris and the company in managing the risk

Computer Networking: A Top-Down Approach (7th Edition)

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Author:James Kurose, Keith Ross

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Chapter1: Computer Networks And The Internet

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Problem R1RQ: What is the difference between a host and an end system? List several different types of end...

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Question

Discuss and write a short summary on how to help Chris and the company in managing the risk

Cliff Branch was the president of a small IT consulting firm that specialized in developing
Internet and mobile applications and providing full-service support. The staff consisted
of programmers, business analysts, database specialists, web designers, project manag-
ers, and others. The firm had 50 full-time people and planned to hire at least 10 more
in the next year. The firm also planned to inerease the number of part-time consultants
it used. The company had done very well during the past few years, but it was recently
having difficulty winning contracts. Spending time and resources to respond to various
requests for proposals from prospective clients was becoming expensive. Many clients
were starting to require presentations and even some prototype development before
awarding a contract.
Cliff knew he had an aggressive approach to risk and liked to bid on the projects
with the highest payoff. He did not use a systematic approach to evaluate the risks in-
volved in various projects before bidding on them. He focused on the profit potentials
and on how challenging the projects were. His strategy was now causing problems for
the company because it was investing heavily in the preparation of proposals, yet win-
ning few contracts. Several employees who were not currently working on projects were
still on the payroll, and some of their part-time consultants were actively pursuing other
opportunities because they were being underutilized. What could Cliff and his company
do to better understand project risks? Should Cliff adjust his strategy for deciding what
projects to pursue? How?

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