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SDIM71-201 Risk Management
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SDIM71-201 Risk Management
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Course Code: SDIM71201
University: Bond University
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: Australia
Question:
You work with a top tier, management consulting firm and you have joined the Acme engagement as a Project Analyst. You completed and submitted a Consultant’s Report and Summary and then left the project. A few months later you were reassigned to this project on the strength of your well-received Consultant’s Report and Summary. Your team continues to face staffing challenges and you will need to help out in other areas other than risk management such as organizing workshops, distributing minutes and updating status reports.
Your task is to analyse the case study and create a Consultant’s Report and Consultant’s Summary about the IT program risks status. After the first assignment has been handed in, you will receive additional information about the project status.
Answer:
Background
The Acme Medical Device Company has been looking for the future of the organization and upgrade in the existing IT network has been considered as the most crucial aspect for the successful delivery of the transformation needed for tackling the current environment of the industry. This new implementation will also have many risks associated with the project execution and hence, it is considerable fact to determine the severity of the risks and being prepared for the strategies those are helpful in limiting the impacts of the identified risks. This report will consider the eight important sectors of the project those are crucial and vulnerable to the risks and related risks have been identified. A Monte Carlo analysis has been executed in this report considering the identified risks and their quantitative values for the proposition of the results those could be utilized for developing the strategies those could lead to efficient and effective project execution.
Change Management
Figure 1: Change Management Processes
(Source: Created by Author)
The above demonstrated flow chart describes the change management process that needs to be considered while executing the transformation in the existing system of the Acme Company. Two sections have been divided for the entire process that includes change request and change status value and the process starts with making the request for the change and follow to the review process where the changes requests will be reviewed and permissions would be granted accordingly. Thereafter, the process move on the assessing and planning that has three sub-processes as mentioned in the above diagram that lead to two possibilities whether there are standard changes or not and whether they have been approved or not and if the conditions move on to yes then the implementation procedure will be executed. After the verification, implementation will be completed. Change status value will start from the prepared draft that will reaches to approval after review that will led to the planning and implementation of the strategies those have been planned accordingly.
Risk Management: PMO
Phase
Calc Estimate
Perfect
Likely
Outrageous
Planning
30.0
20
30
40
Design
20.0
15
20
25
Build
20.0
15
20
25
Test
20.0
15
20
25
Roll Out
12.0
10
12
14
Close Out
4.0
2
4
6
106.0
77.0
106.0
135.0
Probability of meeting value of 106
51.51%
106
Total budget required for 95.0% confidence
115
95%
Contingency required for 95.0% confidence
9
Simulation: MIS
Phase
Calc Estimate
Perfect
Likely
Outrageous
Sampled
Plan
10.0
5
10
15
11.31486295
Design – Matilda v6.3 Manufacturing Planning
20.0
10
20
30
14.39791483
Design – Matilda v6.3 Manufacturing Execution
20.0
15
20
25
20.17929024
Design – Matilda v6.3 CAD
20.0
10
20
30
26.38433564
Design – Matilda v6.3 CAE
10.0
5
10
15
11.41426448
Design – Pipedrive CRM v2.2.6
4.0
2
4
6
4.890742833
Build – Matilda v6.3 Manufacturing Planning
20.0
10
20
30
19.05241141
Build – Matilda v6.3 Manufacturing Execution
20.0
10
20
30
22.42161839
Build – Matilda v6.3 CAD
4.0
2
4
6
5.277929236
Build – Matilda v6.3 CAE
4.0
2
4
6
3.569906758
Build – Pipedrive CRM v2.2.6
5.0
2
4
12
3.374377605
Test – Matilda v6.3 Manufacturing Planning
10.0
5
10
15
9.418785546
Test – Matilda v6.3 Manufacturing Execution
10.0
5
10
15
12.14546102
Test – Matilda v6.3 CAD
4.0
2
4
6
4.758033829
Test – Matilda v6.3 CAE
4.0
2
4
6
4.978134612
Test – Pipedrive CRM v2.2.6
4.0
2
4
6
3.328817578
Test – Matilda v6.3 and Hot Backup
4.0
2
4
6
2.897501869
Train
10.0
4
8
24
12.56760315
Roll Out
9.0
6
9
12
7.493737012
Close Out
2.0
1
2
3
1.288440094
194.0
102.0
191.0
298.0
201.1541691
Probability of meeting value of 194
41.41%
191
Total budget required for 95.0% confidence
210
95%
Contingency required for 95.0% confidence
16
Simulation: Finance
Phase
Calc Estimate
Perfect
Likely
Outrageous
Sampled
Plan
10.0
5
10
15
9.140903869
Design – Oracle EBS v12.2.9 G/L
10.0
5
10
15
5.795458391
Build – Oracle EBS v12.2.9 G/L
8.0
4
8
12
6.570660004
Test – Oracle EBS v12.2.9 G/L
4.0
2
4
6
4.286114966
Test – Oracle EBS v12.2.9 G/L and v12.2.3 A/P
4.0
2
4
6
3.535163506
Test – Oracle EBS v12.2.9 G/L and v12.2.3 A/R
4.0
2
4
6
5.48489448
Test – Oracle EBS v12.2.9 G/L and v12.2.3 F/A
4.0
2
4
6
4.15929623
Test – Oracle EBS v12.2.9 G/L and Matilda v6.3
4.0
2
4
6
2.467330352
Test – Oracle EBS v12.2.9 G/L and Hot Backup
4.0
2
4
6
4.803184161
Test – Oracle EBS v12.2.9 G/L and Pipedrive CRM v2.2.6
4.0
2
4
6
4.852755395
Train
6.0
4
6
8
6.560832339
Roll Out
10.0
8
10
12
10.2295143
Close Out
2.0
1
2
3
2.779901245
74.0
41.0
74.0
107.0
70.66600923
Probability of meeting value of 74
47.44%
74
Total budget required for 95.0% confidence
80
95%
Contingency required for 95.0% confidence
6
Simulation: ESB
Phase
Calc Estimate
Perfect
Likely
Outrageous
Sampled
Planning
10.0
5
10
15
9.306947817
Design
10.0
5
10
15
9.594274851
Build – ESB and G/L
4.0
2
4
6
5.038802668
Build – ESB and A/P, A/R & F/A
10.0
5
10
15
11.38901146
Build – ESB and HRMS
10.0
5
10
15
10.61459867
Build – ESB and Security
10.0
5
10
15
9.513632026
Build – ESB and Matilda
10.0
5
10
15
6.198391213
Build – ESB and CRM
10.0
5
10
15
10.93378658
Test – ESB and G/L
6.0
3
6
9
7.119045715
Test – ESB and A/P, A/R & F/A
6.0
3
6
9
6.841023829
Test – ESB and HRMS
6.0
3
6
9
4.895014368
Test – ESB and Security
6.0
3
6
9
6.75665225
Test – ESB and Matilda
6.0
3
6
9
7.058649108
Test – ESB and CRM
6.0
3
6
9
5.532622325
Train
4.0
2
4
6
3.553999687
Roll Out
20.0
10
20
30
25.75037748
Close Out
2.0
1
2
3
2.437956886
136.0
68.0
136.0
204.0
142.5347869
Probability of meeting value of 136
50.21%
136
Total budget required for 95.0% confidence
147
95%
Contingency required for 95.0% confidence
11
Simulation: Security
Phase
Calc Estimate
Perfect
Likely
Outrageous
Sampled
Plan
8.0
4
8
12
10.09571269
Design – IBM Cloud Security
8.0
4
8
12
7.130357288
Design – IBM Security Intelligence and Analytics
8.0
4
8
12
9.780514944
Design – IBM Data Security
8.0
4
8
12
4.67383807
Design – IBM Network Security
8.0
4
8
12
5.079395297
Build – IBM Cloud Security
4.0
2
4
6
3.502715271
Build – IBM Security Intelligence and Analytics
2.0
1
2
3
2.312769557
Build – IBM Data Security
16.0
8
16
24
11.39156031
Build – IBM Network Security
12.0
8
12
16
12.61765799
Test – IBM Cloud Security
8.0
4
8
12
5.17084047
Test – IBM Security Intelligence and Analytics
8.0
4
8
12
10.08927718
Test – IBM Data Security
8.0
4
8
12
6.936401249
Test – IBM Network Security
8.0
4
8
12
9.656058974
Train
8.0
4
8
12
6.0728229
Roll Out
12.0
10
12
14
12.37185419
Close Out
2.0
1
2
3
1.90237692
128.0
70.0
128.0
186.0
118.7841533
Probability of meeting value of 128
52.30%
128
Total budget required for 95.0% confidence
137
95%
Contingency required for 95.0% confidence
9
Infrastructure
Phase
Calc Estimate
Perfect
Likely
Outrageous
Sampled
Plan
6.0
2
6
10
4.965895049
Design – 5 Servers
10.0
5
10
15
9.905187821
Design – ESB
10.0
5
10
15
7.866979553
Build – 5 Servers
10.0
5
10
15
8.706114739
Build – ESB
10.0
5
10
15
9.921604623
Test – 5 Servers
10.0
8
10
12
9.358495145
Test – ESB
4.0
2
4
6
4.461108018
Train
6.0
4
6
8
4.870521249
Roll Out
12.0
10
12
14
11.89019026
Close Out
2.0
1
2
3
1.345651549
80.0
47.0
80.0
113.0
73.29174801
Probability of meeting value of 80
45.94%
80
Total budget required for 95.0% confidence
86
95%
Contingency required for 95.0% confidence
6
Summary by PLO
Team
Calc Estimate
Perfect
Likely
Outrageous
Comments
%
PMO
106.0
77.0
106.0
135.0
Testing and roll out risks
15%
MIS
194.0
102.0
191.0
298.0
Testing risks between Oracle and Matilda
27%
Finance
74.0
41.0
74.0
107.0
Testing risks between new and old Oracle versions
10%
ESB
136.0
68.0
136.0
204.0
ESB design and testing risks
19%
Security
128.0
70.0
128.0
186.0
Server design and testing risks
18%
Infrastructure
80.0
47.0
80.0
113.0
Server design and testing risks
11%
Total
718.0
405.0
715.0
1,043.0
100%
Summary by Phase
Team
Plan
Design
Build
Test
Roll Out
Close Out
Total
% of Total
PMO
30
20
20
20
12
4
106.0
15%
MIS
10
74
53
36
19
2
194.0
27%
Finance
10
10
8
28
16
2
74.0
10%
ESB
10
10
54
36
24
2
136.0
19%
Security
8
32
34
32
20
2
128.0
18%
Infrastructure
6
20
20
14
18
2
80.0
11%
Total
74
166
189
166
109
14
718.0
100%
Conclusion
The above report explains the risk associated with the risks those might arise or being raised during the execution of the project. Monte Carlo analysis through using @Risk 7.5 industrial trial application that helped in generating the random figures as demonstrated in the above report. The proposed result can be utilized for the further proceeding with the risk handling and how the strategies could be implemented those could lead to the execution of an efficient project.
Next Steps
The Acme medical device company can utilize the above proposed results for better implementation strategies. The future work will emphasize on compliance of the policies with the newly proposed systems and the existing systems considering the privacy and security of the data and information being calculated.
Bibliography
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Brandimarte, P. (2014). Handbook in Monte Carlo simulation: applications in financial engineering, risk management, and economics. John Wiley & Sons.
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Galliers, R. D., & Leidner, D. E. (2014). Strategic information management: challenges and strategies in managing information systems. Routledge.
Hashemi-Dezaki, H., Hamzeh, M., Askarian-Abyaneh, H., & Haeri-Khiavi, H. (2015). Risk management of smart grids based on managed charging of PHEVs and vehicle-to-grid strategy using Monte Carlo simulation. Energy conversion and management, 100, 262-276.
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Obeidat, B. Y., Al-Dmour, R. H., & Tarhini, A. (2015). Knowledge management strategies as intermediary variables between itbusiness strategic alignment and firm performance. European Scientific Journal, ESJ, 11(7).
Powers, M. A., Bardsley, J., Cypress, M., Duker, P., Funnell, M. M., Fischl, A. H., … & Vivian, E. (2017). Diabetes self-management education and support in type 2 diabetes: a joint position statement of the American Diabetes Association, the American Association of Diabetes Educators, and the Academy of Nutrition and Dietetics. The Diabetes Educator, 43(1), 40-53.
Ren, L., He, L., Lu, H., & Chen, Y. (2016). Monte Carlo-based interval transformation analysis for multi-criteria decision analysis of groundwater management strategies under uncertain naphthalene concentrations and health risks. Journal of Hydrology, 539, 468-477.
Robson, W. (2015). Strategic management and information systems. Pearson Higher Ed.
Smith, L. C., & Wong, M. A. (Eds.). (2016). Reference and Information Services: An Introduction: An Introduction. ABC-CLIO.
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