Refer back to the systems project you selected for module 3. Assume the project team has already
Determined the system’s functional and non-functional requirements
Received budget approval
Selected the vendor
Negotiated and signed a contract with the vendor
Developed a detailed task list
Finalized the system test plan
Subsequently, the following events were reported to and/or from the project team. You must complete a risk register for the risks contained below, and then write a memo (400-600 words) to your boss which 1)outlines the top two risks and why they are the highest risks, 2)provides contingency plans for those two risks, and 3)shares how the top two risks will be monitored.
Risks shared with or by the project team
The company lost a big account which will reduce the company’s cash flow by 10% starting in about six months when the current contract ends. The CFO has indicated that if those sales aren’t replaced, the company may need to slow down some projects and their corresponding payments to conserve cash. He thinks that the slowdown would only push projects back three to six months.
Your senior manager of IT applications that sat on the team put in his resignation. His boss is the senior director of infrastructure and applications. While he has agreed to stand in and attend the meetings, he is already short 2 senior managers and the company has several other large projects occurring. He did say he will put out a job listing immediately to try to hire someone.
The company you hired has indicated that one of the features you wanted will only be available in a future release of the software. You thought it was already live but the project team has misinterpreted the software company’s communication on the matter. The lack of this release will make internal reporting more difficult until the release is complete. You’ve asked for a software roadmap so you get a sense of the planned timeline.
Finance has indicated that they forgot to share some requirements for the system that will be important for regulatory reporting. Your company is technically out of compliance in this area today due to a lack of resources. Adding this to the requirements could bring the company into compliance. The VP of Financial Compliance is insisting this must be added.
A company has just sued the software company you selected indicating they’ve stolen proprietary coding and used it in the system you’ve purchased. They want to get an injunction to stop the company from utilizing the software for any further rollouts. The alleged stolen source code that is only part of the reporting module you get from the software company and is not associated with other parts of the system.
Your senior director of IT indicated that after a deeper dive into the software company’s technical specifications, the software is incompatible with a proprietary contract signature tracking system your legal department uses. All the supply chain members are required to utilize the proprietary signature tracking software to ensure the right approval processes and documentation are done. IT is not certain what can be done but might be able to build a workaround but it will cost additional funds.
Risk Register Assessment Template
For this assignment, you will work in the Smartsheet Risk Management Template (click on link here) (Links to an external site.). Smartsheet is a commonly used tool in project management. See a short introductory video from Smartsheet (Links to an external site.) on how to navigate this software that is commonly used for project management. Before making any changes, be sure to make a copy of the template and do File Save As “Your First and Last Name_Risk Register” as the file name. You should customize the categories and the probability and impact definitions in addition to listing out all the risks for the project. Once you have filled out the template and saved it under your own name, export a copy in Excel format so you can upload the assignment to Canvas.
You are submitting:
Risk Register (Excel Export from Smartsheet)
Memo to Boss (Word Document or readable PDF)