Caceres Melendez 1

Enrique Caceres Melendez

Professor Matthew Rodgers

Project Risk Management

11 February 2022

Risk Management Plan

Risks

Given the timeline that Eldon Tyrell has given me, I believe that the initial anticipated

project risks I listed in the Risk Management Project Roles and Responsibilities assignment are

still valid. As a reminder, the initial identified risks that I mentioned were the stakeholders not

being satisfied with the completed project, there being miscommunication within the team, and

there being miscommunication between the team and the executives. The reason why I believe

these identified risks are still valid is because miscommunication will always be a relevant risk

regardless of timeline. Likewise, stakeholder satisfaction will always be of paramount

importance regardless of the timeline given. If anything, the three month deadline that the project

team has been given to complete this web rebuild project accentuates the significance of those

identified risks. With that being said, I do foresee some additional risks based on the new

information gathered that I did not have before such as the deadline. The shortened time frame

allotted to the project team forbids room for mistakes even further, so it is important to include as

many risks as possible into the risk management plan. These new risks include potential factors

that are out of the team’s control such as technical issues, decreased deadline, and reduced

budget. All of these factors are risks that cannot necessarily be prevented but can be better

managed if included in the risk management plan, in case these events were to take place.
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Solutions

Risk Solution

Stakeholder Dissatisfaction Review original project scope with

stakeholders and compare it to the final

project. Undertake the areas that do not match

up or meet expectations and discuss how we

can achieve stakeholder satisfaction.

Miscommunication (Team to Team) Address the miscommunication and its effect

on the project. Once the situation has been

taken under control, discuss as a team how we

can avoid future miscommunication. Remind

the importance of effective communication.

Miscommunication (Team to Executives) Address the miscommunication and its effect

on the project. Once the situation has been

taken under control, discuss as a team how we

can avoid future miscommunication. Remind

the importance of effective communication.

Technical Issues Contact the IT department to confront

technical issues at hand. In the meantime, see

if any members need an extra hand while we

wait for technical issues to be fixed.

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Decreased Deadline Use the allotted buffer time period set for

situations like these. If that is not enough,

then discuss reconsidering certain details that

are not required or necessary by stakeholders.

Reduced Budget Review if budget reduction exceeds safety

margin amount originally set to be under

budget. If so, then discuss reconsidering

certain costly details that are not required or

necessary by stakeholders.

Action Plan

- Stakeholder Dissatisfaction: The preventative action plan is to have a robust quality

management to verify that deliverables meet stakeholder expectations. Furthermore,

assuring that frequent and effective communication between project team and

stakeholders.

- Miscommunication (Team to Executives): The preventative action plan is to document

any changes, updates, or notifications done by the team. Reinforcing transparency and

monthly team meetings is also part of the preventative action plan. Also as importantly, it

is crucial to include making an active effort to be certain that what each member says is

clearly conveyed and understood by the other everyone.

- Miscommunication (Team to Team): The preventative action plan is to document any

changes, updates, or notifications done by the team. Reinforcing transparency and weekly
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team meetings is also part of the preventative action plan. Also as importantly, it is

crucial to include making an active effort to be certain that what each member says is

clearly conveyed and understood by the other members..

- Decreased Deadline: The contingency action plan is to have a detailed ranked list of

components that we would like to include but are not required, in case we must uninclude

them due to a time restriction. The preventative action plan is to make the target deadline

a week or two before the official deadline given by Eldon Tyrell. This will give us some

buffer time in case there is a delay we cannot avoid. Furthermore, if the deadline is

decreased then there is a possibility it might not affect the project at all.

- Reduced Budget: The contingency action plan is to have a detailed ranked list of

components that we would like to include but are not required, in case we must uninclude

them due to a budget restriction. The preventative action plan is to set aside 10% of the

allotted budget and have it be an emergency fund. This will allow us some additional

funds in case we need it due to a disruption or miscalculation. Furthermore, if the original

budget is reduced then there is a possibility that it might not affect our project at all if it

only takes away from unused emergency funds that were set aside.