The Altex Corporation is a business that specializes in creating cutting-edge weaponry for

the US military. The business is excited about the initiative after receiving a contract from the US
military. When it comes to handling the project's risk, however, Altex Corporation's
administration appears underprepared. The procedure of determining the risk of a project is a
challenging process that requires input from the final user of the project. The client has the
right to expect a risk management system from the manufacturer and can even force them to
develop a risk management plan. Altex Corporation should have included the project manager
right from the beginning of the entire methodology, which was lacking in the said case. The
company should have ensured that they developed a proper risk management plan to ensure
that the project's associated costs are held under control, and the project is completed on time,
even under unfavourable conditions. Therefore, effective risk management is essential for the
accomplishment of any project, particularly one as important as the creation of advanced
weapons for the US military.

The Altex Corporation excels in the development of advanced weaponry for the United
States Army. The United States Army recently granted the Altex Corporation a contract for the
Advanced Tactical Missile Program (ATMP). The two-year ATMP endeavour did not necessitate a
risk management strategy, which concerned the R&D project manager. The risks connected with
the ATMP effort were addressed in a discussion between Altex Corporation and the project
manager. The project manager proposed creating a risk management plan, but the sponsor
advised against it, claiming that the army was not concerned about the risks and that the
engineers were overconfident.

The Altex Corporation anticipated that they would consider themselves fortunate to
fulfill between 60-70% of the contract requirements. They saw the engineers' confidence as a
means to accomplish their end objective of a technical breakthrough. The project manager, on
the other hand, was worried that the engineers' positivity would lead to reactive rather than
proactive thinking. Problems that require considerably more resources than planned for might
arise in the absence of a risk management plan or protection plan, resulting in crisis
management as a way of life. Although the sponsor demonstrated that the Altex Corporation
would not be penalized if they only produced 60-70% of the specs, the project manager was still
concerned about the project's risks. He intended to create his own risk management strategy
and not share it with anyone. The sponsor warned that if the army was aware of all the dangers
before beginning on the project, it might abandon this entirely. If Altex Corporation used the
risk management strategy to keep the project alive, it could still be preserved if the army chose
to terminate the program.

There are two potential outcomes for this situation. On the one hand, the project may
proceed as expected with a few small issues that may not have a significant impact on the
project, and the Altex Corporation may acquire 60–70% of the specifications as they deem
practical. However, the project might not even be finished because of unanticipated risks that
the company might encounter while working on it. In the best case situation, Altex Corporation
might only meet 20–30% of the requirements. The project manager must create a risk
management plan right away in order to understand the possible risks the project may face. If
the project manager decides to quit after realizing that the project might not yield the intended
results or if the corporation rejects the risk management plan, Altex Corporation should develop
its own risk management plan. The Altex Corporation would then have the knowledge
necessary to determine whether the project can be completed with the intended level of
success and whether to continue with it or end the contract.

In terms of project management challenges, the case study that I shared about the
consumer finance company is similar to the case study of Altex Corporation. Both of the
organizations were facing project management challenges and needed an answer. For them to
overcome their difficulties, both organizations needed to recognize new project management
methods and resources. To create the system, the consumer finance company progressively
implemented agile techniques such as sprints and the use of JIRA. Similarly, Altex Corporation
was recommended to create a good risk management strategy and use it to maintain project
costs under control and the project accomplished on time. Both companies had insufficiently
prepared IT and PMO teams to cope with the difficulties they encountered. The consumer
finance company's IT and PMO teams were more focused on operational maintenance, whereas
Altex Corporation needed a comprehensive risk management strategy.

"When Agendas Override Objective," another case study shared by 'Keshone Morley," is
comparable to the Altex Corporation case study in that it illustrates the significance of effective
project management and vendor management. Both case studies discuss difficulties faced by
project managers when stakeholders have conflicting agendas or when vendors do not stick to
the mutually agreed-up conditions and requirements. Furthermore, both case studies stress the
importance of effective communication, straightforward requirements, and proper planning and
execution in order to prevent project delays or failure. The project team in the Altex Corporation
case study had to deal with problems such as scope creep, project management methods, and
change management. The project manager in the "When Agendas Override Objective" case
study had to negotiate with a vendor who did not follow the contract conditions and criteria.
Both case studies point out the significance of efficient project management, stakeholder
management, and vendor management in ensuring project success.

In conclusion, effective risk management plays an essential role in the successful

accomplishment of any project, particularly one as critical as the development of advanced
weapons for the United States military. The absence of an appropriate risk management
strategy for the Altex Corporation's Advanced Tactical Missile Program (ATMP) may result in
unexpected risks and possibly disastrous results. As a result, the project manager needs to
develop a risk management strategy as soon as possible in order to spot potential risks and
construct ways to mitigate them. If the risk management plan is rejected by the company, the
project manager should develop an independent strategy to ensure that the project concludes
successfully. Altex Corporation should additionally involve the project manager from the start of
this procedure to establish a thorough risk management strategy to control project expenses
and ensure immediate project conclusion. Thus, Altex Corporation must emphasize risk
management in order to effectively execute the Advanced Tactical Missile Program.