Unit Code
Unit Name	Manage program risk
Assessment Code	T1	Due Date
Student Name		Student ID

Declaration of authenticity

I, the above-named student, confirm that by submitting, or causing the attached assignment (and any additional attachment associated with it) to be submitted, to Lonsdale Institute Pty Ltd, I have not plagiarised any other person’s work in this assignment and except where appropriately acknowledged, this assignment is my own work, has been expressed in my own words, and has not previously been submitted for assessment.

I do understand and accept the consequences of academic misconduct according to Lonsdale’s Policies and Procedures.                                   

ASSESSMENT TASK

This assessment is a portfolio of evidence, designed to assess your ability manage risks in the program.

You are required to:

To develop your assessment, you can work on either of the following scenarios:

This assessment comprises of the following sections:

Section 1: Program risk management

Section 2: Case study

SECTION 1 –  Risk Management

In this section, you are required to address three assessment tasks:

• Task 1: Risk management approach
• Task 2: Risk management planning
• Task 3: Program risk register

TASK 1 – RISK Management Approach

In the form of notes that you have written to yourself when developing the risk plan for the program, address the following creating cohesive paragraphs to collect your notes.:

• Describe what risk methodology was selected for the program
• Qualitative Risk Analysis: This approach focuses on characterising risks within the program to examine the impact that they have on assessing scales or if it is a low, medium, or high risk within the potentiality matrix (Mulambya 2020). It also determines the consequences by identifying the definitions of the risks and criteria of the program’s risks in each of the projects using this approach. It will help establish how the risks will be treated, considering that the risks of low priority have a higher acceptance level for not failing to represent a significant weight in accomplishing the overall goal of the program (Lucrezi et al. 2018, p. 384). The experts’ opinion forms the basis for developing this approach.
• Quantitative Risk Analysis: It is an approach adopted to examine the effects of the risks on the program’s overall objective; that is, having a quantifiable risk measure, which numerical models are used, gathering data that facilitates risk characterisation, the occurrence probability, and its impacts on the program development, according to the schedule of implementation, costs, and quality (Pieralli et al. 2020). The information has been gathered with stakeholders and documented by program managers determining the risks in Management, Human Resource (HR), suppliers, IT department, among other crucial departments.
• Expert Opinion: In this context, experts were consulted to determine the risks that the management team did not have experience or knowledge to characterise them, including those associated with external risks of the education industry, law based on the changes in requirements for international students and inside the program according to each of the project’s particular risks (Πιριπίτση 2020).
• Describe how the risk methodology was modified to match the context for risk

The risk approaches were adjusted to align with the risk’s setting to define and characterise the risks throughout the program, as that this is amidst the risks it captures from the based constituted of the projects and those falling on the program and from the risk management strategy.

The considerate levels to align with the situation in the Lonsdale Institute program are:

1. Bottom level: from the bottom of the Lonsdale Institute Strategy, the overall goal is to become the leading private provider of business courses to international students in Australia. The risks associated with this level, including quality and execution, budget, and human resources were assessed within the projects to mitigate their effect.
2. Middle Level: the program was assessed based on the structure of governance, modified the risk tolerance while minimising budget, resources, quality, and cost in the program.
3. Top level: The risks encompassed in attaining an ambitious business goal since the competition in the education industry and the significant offer that prevails in the market, and the number of business courses and how appealing they can be for international students and other variables including purchasing power, migratory regulations, and professional development.
4. Describe what stakeholders were consulted to identify, document and analyse program risk levels and individual risks. Be very specific when mentioning the stakeholders and the risks. It is recommended to use a table where each category of risk is matched with the stakeholders who were involved in their identification and analysis.

Risk	Program Sponsor	Program Manager	Project Manager	Team project	External experts
Governance Risk	X	X	X	–
Legal Risk	X	X	X	–	X
HR Risk			X	X
IT Risk	–	–	X	X	X
Financial Risk	X	X	X	–	X
Educational Course		X	X	X
Industry Risk		X	X	X	X

• Describe what support and mentoring you have planned to support the project managers in managing risks at their program level. Be very specific and detailed taking into consideration the different risks in the individual projects.

The mentoring and support planned to support the project managers in mitigating the risks at their program level included:

• Create and share a Risk Log Register with the risk characterisation standard that can be consulted across all levels, by stakeholders and managers.
• Develop an action plan for risks’ treatment depending on their probability and impact, focused on accepting or mitigating them.
• Training with risk consultants who provide information about the risks in the education industry and how the risks can impact program.
• Describe how:
• Risk management is made visible and dynamic across the program so that risks are assigned and managed in a timely manner.

The risk management is dynamic and visible in the program through:

• Empower project members to feel free to engage in risk identification to provide suggestions concerning how to mitigate them (Mulambya 2020).
• Focus group work presents each of the risks in each of the individual projects and how they scale up in the program, aiming to promptly consolidate and share information to be prepared when the risks occur (Lucrezi et al. 2018, p. 386).
• Keep a record of all the activities favouring the identification, characterisation, and risk mitigation, to avoid suggestion and process duplication and have information consultation.
• Seek expert knowledge on risk mitigation and modify them to fit the program risks.
• The program risk-management system was developed to enable effective management and communication of risks, controls, treatments and outcomes to stakeholders across the program

Be detailed focusing on the government framework for the program, the stakeholder engagement strategy and the communication strategy applied to risk management.

Stakeholder Engagement Strategy

Stakeholder analysis matrix aims to determine the significance or the impact of each stakeholder in the program and the treatment of each risk (Mulambya 2020). Besides, the interest level and necessities that are anticipated are registered using all communication channels across the program, identifying responsibilities and responsibilities.

To produce the updates relating to the program’s progress and communicate all about the risks affecting stakeholder engagement and their status, responsibilities, and influence.

Maintain communication channels in all the lines between stakeholders to determine any risk that can influence more projects and the program promptly (Lucrezi et al. 2018, p. 389).

Communication Strategy

Create communication policies and procedures for risks among stakeholders. The meetings’ outcomes should be attained in the registration document and be disbursed through the school’s newsletter, e-mail, and the document should be preserved in on the consultation (Mulambya 2020).

Development of a well-outlined structure of communication channels to prevent deviations and information delays among stakeholders.

Update the risks’ information and that is subject to evaluation of the risk control mitigation.

• Progress review, variance analysis and risk responses to achieve program objectives in dynamic risk environments will be monitored, documented and evaluated. Specify the agreed intervals for risk monitoring.

The intervals for monitoring the risks have been approved as the type of risk analysed; for instance, financial risks are monitored monthly since a starting and closing period is required, which are established in this way and hence simplified control (Pieralli et al. 2020). The IT risks are analysed through tracking the intervals schedule against the operations or test required in the project.

Generally, the intervals for the programs with monthly objectives are assessed and monitored monthly and the programs wit the schedule for ejection are the interval assessments needed for the program (Lucrezi et al. 2018, p. 390).

• Actuated risks (issues) will be managed. Include an issue escalation process.

Connected to the process of escalation issue, the idea is following these steps:

• Determine the issue (consult all the team members, stakeholders, program manager, etc.)
• Outline the problem: Including the problem details, its effects on the project, and the state of the risk.
• Assigning owner: defining the specific person in charge of the issue
• Determining; the projects due date
• Detailing: the resolution (consultation purpose document)
• Record and track the issues
• Communicate the issues to program sponsor, team members, and all program stakeholders.

All points must be addressed, min. 300 words.

TASK 2 – RISK MANAGEMENT PLANNING

1. Risk breakdown structure (RBS)

Develop a detailed risk breakdown structure (at least 3 levels) that takes into consideration risks identified at all program levels and appropriately categorise them.

Risk	Component Name
RISK	New school business programs
	Risk Business Level	Increase in competition
		Industry	Change in demand
			Market	High disagreements with agencies
			Suppliers	Cost / availability with suppliers.
		Legal
			Immigration Law	Changes in the immigration legislation
				Delay in visa approval
	Project Level
		IT	Changes in the IT platform
			Requirements	Suppliers cost
			Application	Physical Resources
				IT trained staff
		Financial	Planification	Lack of the budget
			Ejection	Over Cost
				Currency Changes
		Human Resources	Resistance to the changes
			Staff	Team trained
			HR Structure	Changes in the staff work and job description
		Educational Course	Develop	Trained teachers
			Implementation	Law approvals
	Program Risk Level
		Governance	Decision making
			Management	Changes in the governance structure
				Stakeholders role
		Benefits	Scale economy
			Structure	Decrease in Market share
				Business Reputation

• Program risks level

Populate the table below by identifying risks for each level of the program.

Business level	Australian Education Changes, demand changes, socio-economic changes, Increase of the competitors, IT changes, immigration legislation, currency exchange, market share.
Program level	Sponsor priority changes, lack resources, HR, resources allocation, Stakeholders influence, agreement with educational agencies.
Project level	Staff trained, over costs, Project manager capable, lack budget, resources, workplace, system implementation.

• Program risk management plan

Use the table below to document your program risk plan.

Purpose Purpose of the risk management plan	The aim of this risk management plan is to determine, assess, and manage the risk and effect thought the Lonsdale Institute program.
Approach This is the approach to risk management within the program, it outlines: risk management methodology, including tools and techniques. Strategies to minimise additional risks are also described in this section, an example would be the use of a change management process to identify possible new risks.	The risk management within the program is constituted of: Risk management approach Primarily, it concerns performing a risk identification and characterisation of every risk, determined potentiality and effect assessment the program risks, identified the risk plan for high-priority and risk assessment and control process. Tools and approaches: SWOT analysis, PESTEL analysis, Risk Checklist, Industry risk, Expert opinion, qualitative risk analysis, and quantitative analysis. Development of basic matrix for risk analysis -Characterization of the risk probability – probable/ improbable – vs impact – major / minor – and level -high / medium / low. Risk management and new risk identification process implemented to minimise the effect and challenges encountered in the program include:Monitoring the program plan vs. the PESTEL and SWOT analysis.Professional opinion on risks to identify emerging risks.Brainstorming with the team about new risks and their impact.
Risk categories Specific risk categories as identified in the RBS.	Risk Component Name RISK Increase in competition     Risk Business Level Change in demand            Industry New school business programs                   Market High disagreements with agencies                     Suppliers Cost / availability with suppliers.                 Legal                     Immigration Law Changes in the immigration legislation                       Delay in visa approval                          Project Level                                   IT Changes in the IT platform                   Requirements Suppliers cost          Application Physical Resources           IT trained staff       Financial Planification Lack of the budget         Ejection Over Cost           Currency Changes                   Human Resources Resistance to the changes                   Staff Team trained         HR Structure Changes in the staff work and job description               Educational Course Develop Trained teachers         Implementation Law approvals            Program Risk Level                                   Governance Decision making                   Management Changes in the governance structure           Stakeholders role       Benefits Scale economy       Structure Rise Market share           Business Reputation
Roles and responsibilities Roles and responsibilities of the program management team regarding risk management planning, identification, analysis, response planning, and monitoring and control. Decision making process and escalation process should also be addressed in this section.	Program Sponsor Program Manager Project Manager Team project Stakeholder Identification Risk I     A, C R – I Risk Impact assessment process I I C, A R I Risk management approaches I C, A R C I Risk plan high-Priority risk R C, R R I I Monitoring and Controlling process        I I C, I R Develop risk standards and mythologies I – A R I Overall project risk assessment I A, C R R I               R = Responsible, A = Accountable, C = Consulted, I = Informed
Probability/Impact matrix Probability and impact as outlined in the risk register against each risk that has been identified.	Risk ID Category Description Owner Likelihood Impact R1. Business Increase Competition Project Manager Medium High R2. Business Changes in demand Project Manager Medium Medium R3.   Business New School Business Programs Program Manager Low Medium R4.   Legal Immigration Changes Program Manager Medium High R5.   IT IT Trained staff IT Project Manager Medium Medium R6. Financial Lack of the budget Program Sponsor Low High R7. Financial Over Costs PM CFO Low High R8. HR Team Trained HR PM Medium Medium R9.   Governance Changes Management structure Board, Program Sponsor Low High.
Contingency The process followed to allocate contingency budget and resources to respond to risks.	The process of allocating a contingency budget and resources to mitigate the risks is: Determine the inputs to contingency reserve risk.Create a quantitative analysis and risk register to evaluate the costs attached to each risk.Assess money costs and other cash associated with each risk’s budget.Risk characterisationUtilise the EMV model: impact vs probabilityOnce the verifiable risks have been evaluated based on the probability of taking place and the effect, the contingency budget is identified for the least risk. The optimal budget allocated ranges at 20% for the low risks and 10% for the low risks. Risk ID Category Description Likelihood Impact Risk Contingency Budget R1. Business Increase Competition Medium High 18% R2. Business Changes in demand Medium Medium 15% R3.   Business New School Business Programs Low Medium 10% R4.   Legal Immigration Changes Medium High 18% R5.   IT IT Trained staff Medium Medium 12% R6. Financial Lack of the budget Low High 13% R7. Financial Over Costs Low High 13% R8. HR Team Trained Medium Medium 15%
Schedule Specific risk management activities that should be included in the program’s schedule.	Activity Risk Schedule Start date Finish date Frecuency Identification Risk 4/01/2021 01/02/2021 Weekly Risk Impact assessment process 15/03/2021 15/03/2021 Fortnightly Risk management approaches 07/04/2021 28/04/2021 Weekly Risk plan high-Priority risk 04/05/2021 04/05/2021 Fortnightly Monitoring and Controlling process       15/05/2021 15/08/2021 Monthly Develop risk standards and mythologies 27/08/2021 15/10/2021 Monthly Overall project risk assessment 03/11/2021 30/11/2021 Fortnightly
Organisational tolerance for risks Organisation’s culture around risk management (risk management policies and procedures, relevant training of personnel, specific tolerance of key stakeholders etc.).	Risk Area   Tolerance Level   Description Low Medium High Policies and procedures Lack of clear policies and procedures difficult to implement   X   Resistance to change stakeholder who do not want to adopt the new procedures     X IT changes lack of training to all the areas in the new system     X Governance Changes in the structure and lack of information X     Resources Lack of resources for achive the program   X   Staff Qualification Unqualified staff X     Stakeholder Changes in the key stakeholder role   X
Reporting Risk reporting process.	The report for Lonsdale Institute program includes: Formulate the objectives encompassed in the program in relation to the risksDetermine the risks associated with Lonsdale program and how they impact the objectives and strategyDetermine and select the metrics needed to assess each risk.Create the process of calculating the general risk.To ensure the success of this report, it is important to ensure:A regular review of the program through meetings with the major stakeholders to determine the progress or indispensable changes to accomplish the program objectivesMaintain the register log and ensure that it is updated and enable access to the information included for all involved stakeholders.Monitoring risk against the risks and evaluate their changes.Develop and exclusive document for the sponsor and the council of the program illustrating everything associated with the program’s risks, with quantitative and qualitative information.
Tracking Process to monitor identified risks. It also describes how and when the identified risks will be audited, as well as the process to document lessons learned based on the program’s risk management activities.	The monitoring process track the recognised risks includes: Evaluation of all the risks and develop all the transformations required using meetings. The changes should be contained in the report document – the log risk register.The review frequency in the Log register should be weekly.The change updates and emerging risks will be done weekly in the report to the major stakeholders. The program manager should ensure that all stakeholders access all information on the risks.
Approval	On the initial approval of the changes on the risks, the report must be submitted to the project manager of each area, later presented to the program manager and in conjunction with the Board coordinating the program, they will approve the changes to achieve the proposed program objectives and the risks. It is also essential to consider that the Log report changes shall be used where the risks are documented, with the changes to be implemented, the variables impacted, relevant notes, the change communicators, and those who will approve the change.

• Contingency plan

Develop a detailed contingency plan for two high priority risks that you have identified and assessed for the program. Use the tables below to document the contingency plan.

Risk 1: Business Risk – Growth of competition

Purpose Purpose of the plan. Include a list of the risks the contingency plan has been developed for. Make clear reference to the risk register.	The contingency plan is purposely developed as a strategy that enables the management an exceptional risk (Mulambya 2020). Despite that it has a limited occurrence probability, it can have a significant impact. In the program of Lonsdale Institute, the contingency risk plan focuses on when the business plan is undermined by increase in competition.
Triggers Triggers or symptoms to watch for.	Loss of market shareCompetitor’s successful marketing campaignsUnappealing business courses for studentsPoor agreements with student agencies
Cost impact Cost estimate of implementing the plan.	Contingency Business plan Description Action Comment Owner Cost Checklist business plan monitoring of implementation processes Business Team 0 Business Brochures with the educational programs Explanation of the programs Business Lonsdale team 1000 Identify the agencies associates keep the contact with the agencies Business team 0 Clear communication Inform to the stakeholders about changes in the business plan Business team 0 Control of market Control of the position of Lonsdale in the market Business team 0 Total cost     1000
Schedule impact Schedule impact if the plan is implemented.	Contingency Schedule impact Description Action Comment Owner Time of action frequency Checklist business plan monitoring of implementation processes Business Team Weekly Business Brochures with educational programs Explanation of the programs Business Lonsdale team On-demand Identify the agencies associates keep the contact with the agencies Business team Monthly Clear communication Inform to the stakeholders about changes in the business plan Business team              Weekly Control of market Control of the position of Lonsdale in the market Business team Monthly
Required resources Resources required to implement the plan.	WorkspaceChannels of communication systemBudget, economic resourcesAgreements with agenciesContingency plan and the project manager in charge of the business project
Responsibilities Responsibilities associated with the implementation of the plan.	The business project manager is mandated with ensuring that the plan stays progressive and make changes to accomplish the risk plan objectives and the overall program. The business team is responsible for executing all contingency plan activities.
Approval	Board Program sponsor Program manager Finance project manager/business project manager

Risk 2: Change on the IT System

Purpose Purpose of the plan. Include a list of the risks the contingency plan has been developed for. Make clear reference to the risk register.	The contingency plan purposes on creating a strategy to enable the management control exceptional risk (Lucrezi et al. 2018, p. 394). The program in Lonsdale Institute has a contingency plan focused on avoiding information loss upon the implementation of the project when changes are made on the IT system.
Triggers Triggers or symptoms to watch for.	Poor workplace and quality of hardwarePoor knowledge and experience of the staff mandated with the systems’ maintenance. Inadequate platform to facilitate changes on the systemIssues with accessing the system because of program licensesPersonnel rotation during the system development and system transfer
Cost impact Cost estimate of implementing the plan.	Contingency plan Description Action Comment Owner Cost Checklist IT process monitoring of implementation processes IT Team 0 Backup data in the cloud Storage the information in the cloud system. IT Team/Lonsdale team 1800 Identify the IT support suppliers keep the contact with the suppliers IT Team 0 Clear communication Inform to the stakeholders about the changes in te system IT Team/Lonsdale team 0 checks and maintained checks and maintenance of the system in days of low demand IT Team 0 Total cost     1800
Schedule impact Schedule impact if the plan is implemented.	Contingency Schedule impact Description Action Comment Owner Time of action frequency Check list IT process monitoring of implementation processes IT Team               Daily Backup data in the cloud Storage the information in the cloud system. IT Team/Lonsdale team Daily Identify the IT support suppliers keep the contact with the suppliers IT Team Monthly Clear communication Inform to the stakeholders about the changes in the system IT Team/Lonsdale team as required by the system checks and maintained checks and maintenance of the system in days of low demand IT Team as required by the         system
Required resources Resources required to implement the plan.	Qualified IT personnelSufficient workspaceAdequate budget and workplace resourcesSystem licencesHardware equipmentSupplierChannels of communication system
Responsibilities Responsibilities associated with the implementation of the plan.	The IT project manager is responsible for keeping the plan progressive and implement changes to facilitate the achievement of objectives in the general program and the risk plan.IT team is mandated with the responsibility of implementing all actions of the contingency plan. IT service suppliers’ should be accessible for managing emerging issues.
Approval	The risk priority implementation from the following bodies: Board Program Sponsor Program manager IT project manager Finance project manager

TASK 3 – RISK Register

Develop a risk register for the program (there is an expectation that the risk register is sufficiently detailed and reflects the RBS) that includes:

• Risk ID

An identification number that may match the RBS category

• Risk description

A statement that clearly defines the risk

• Identified by

Team member or department that identified the risk

• Date

When the risk has been identified

• Risk type

According to the RBS

• Root-cause

Root cause of the risk, important to develop mitigation strategies or apply an avoidance response

• Probability and Impact

According to risk analysis. Include priority rating as per calculation probability impact

• Risk owner

Risk responsible to monitor and manage the risk

• Symptoms/ warning signs

Risk triggers

• Proposed response

Detailed strategy to respond to risk if it occurs but also mitigation strategies to be applied

• Actual response

Response applied if the risk occurred

• Approved by

Person who approved the risk response strategy

• Date

When the response was approved

• Subsequent impact

This is the impact that follows because of the implementation of the risk response

• Residual risk

Assessment of the residual risk

• Date closed

Date risk was closed

• Notes

If you attach the register in a separate file, call it BSBPMG616_Risk register.

SECTION 2 –  CASE STUDY

You are 6 months into the delivery of your program, consider that the following has happened:

1. One of the highest priority risks that was identified and assessed occurred (specify which one when starting your discussion);
2. One of the lowest program risks that was identified and assessed occurred (specify which one when starting your discussion);

Based on your program and your risk management planning, address the following:

(Min. 250 words in total)

1. Manage program risk

Based on the scenario (risks that have occurred), address all the following points:

1. Specify the high and low priority risks that have occurred based on your scenario

Low priority risk: change resistance

High priority risk: IT system change failures

• Describe how each risk will be managed according to your risk management plan

Upon the identification of the risk priorities, the schedule for each risk’s management is established. High priority risks will be allocated more resources and time to be evaluated and controlled (Lucrezi et al. 2018, p. 398). Accordingly, the qualitative and quantitative analysis will be executed to project the impact and interdependencies, besides assigning an owner to be responsible for tracking the changes and implement all the actions taking place on the risk to manage it (Limongelli et al. 2018, p. 1029).

• Describe how the risks that have occurred (issues) will be resolved, escalated (if needed) and reported

The prevailing risks shall be solved by implementing an intelligence plan, in case of a risk that can occur after a system’s failure. Firstly, a cloud of information will be implemented to ensure that the information is safe and the IT team tracks the system failures to promote response promptness and system maintenance shall be executed during times that they are not in great demand (Πιριπίτση 2020).

The risk will be reported to the project manager and then on the program manager and documentation of the risk behaviour maintained for evaluation by stakeholders involved in risk mitigation.

• Describe how the risks were monitored, and at what interval, according to your risk management plan

The high-risk IT system change failures were tracked through testing the system and making routine corrections because of the risk priority and its potential effect on the entire program.

The low risk of change resistance is monitored through staff meetings with HR to identify and mitigate cultural changes. The process was executed through external consultancy and weekly meetings (Limongelli et al. 2018, p. 1030).

• Describe how the occurrence of the risk was communicated to you (program manager) according to your risk management plan

The incidence of a high-priority risk should be reported to the program manager through a meeting where qualitative and quantitative risk analysis was implemented and action to address them, concerning the low priority risk the report was submitted, through e-mail to minimise transaction time (Francesch-Huidobro et al. 2017, p. 24).

• Describe what support will be provided to the project managers affected by the risks that have occurred

In the case of system failures, which is a high-impact risk, as all information documented in the system can derail other projects. It is essential to provide regular tracking on each of the project areas to ensure that they maintain all required information and have the necessary technical support to manage any inconveniences.

On the low-impact risk, open channels of communication for all projects shall be implemented and maintained. Reports on the achieved results on the activities relating to the organisational change shall be submitted (Francesch-Huidobro et al. 2017, p. 26).

• Develop an issue register and populate it with information about the risks that have occurred.

A template for inclusions in an issue register is provided below:

• Issue ID
  • Description Issue description including type, root causes and what program components have been impacted
  • Impact State impact and specify what program components are impacted
  • Identified by and date
  • Issue owner Responsible for issue management and tracking until resolved and closed.
  • Proposed resolution Proposed resolution strategy
  • Approval Whether the proposed resolution was approved, deferred or rejected. Include the name of the person who approved the decision
  • Resolved by
  • Date When issue was resolved
  • Subsequent impact Any subsequent impact as a result of addressing the issue (for example, change to program scope).
  • Date closed Date the resolution of the issue was implemented
  • Notes

• Lessons learned

Develop a risk report directed to the board of directors where:

• You provide a review and analysis of how the two occurred risks were monitored and managed.
• Assess the effectiveness of the risk-management methodology that was applied
• Document lessons learned for application in other programs

Risk Report

Directed to the Board of the Program

Created by: Program manager

Abstract

The aim of this report is to present the cases that have occurred after the program delivery, how they impact the risk program objectives, the program impact, the implemented changes, risk analysis, and how the risks were monitored.

Introduction

After 6 months of the program implementation, the following risks occurred:

• Low priority risk: Change resistance
• High priority risk: IT system change failures

Impact in the Program

The incidence of the identified risks has a significant effect on the range of objectives stipulated in the program and across the risk plan, each is demonstrated according to the case.

Low priority risk: change resistance

• Role description and negotiations among stakeholders
• Organisational culture motivational activities

High-priority risk: IT system change failure

• The effect is felt in all projects that use the system
• Inadequate response to the involved areas such as staff, suppliers, and students
• Budget cost overruns.

Risk-management Methodology

Upon identifying the priority of the risks, the management time for each risk would have been determined.

The high-priority risk will have more resources and time to be assessed and controlled. Accordingly, the qualitative and quantitative analysis will be implemented to approximate the variables and the impact. Besides assigning an owner responsible for tracking changes and execute actions required to mitigate the risk.

Document Lessons Learned for Application in Diverse Programs

A risk characterisation parameter was developed based of risk prioritisation besides having a follow-up of advances in the risk management and the tracking of issues and the templates that enables risk recording, the effect of the occurrence probability, and the responsibility of implementing a change.

The lessons learned during the development of this risk management plan can act as an experience in a new program possessing similar characteristics and related risks, and the templates created will be of significant help in the risk registration and documentation as they can be subjected to changes based on the needs of the new program.

References

Francesch-Huidobro, M., Dabrowski, M., Tai, Y., Chan, F. and Stead, D., 2017. Governance challenges of flood-prone delta cities: Integrating flood risk management and climate change in spatial planning. Progress in Planning, 114, pp.1-27. https://doi.org/10.1016/j.progress.2015.11.001

Limongelli, P., Petrini, F. and Docimo, L., 2018. Risk management training programme: A perspective from the European side of the Atlantic. American journal of surgery, 216(5), p.1028-1045. DOI: 10.1016/j.amjsurg.2017.11.035

Lucrezi, S., Egi, S.M., Pieri, M., Burman, F., Ozyigit, T., Cialoni, D., Thomas, G., Marroni, A. and Saayman, M., 2018. Safety priorities and underestimations in recreational scuba diving operations: A European study supporting the implementation of new risk management programmes. Frontiers in psychology, 9, p.383-402. https://doi.org/10.3389/fpsyg.2018.00383

Mulambya, E., 2020. Programme risk management: challenges and proposed solutions (Doctoral dissertation, North-West University (South Africa)). https://orcid.org/0000-0003-2796-5534

Pieralli, S., Pérez Domínguez, I., Elleby, C. and Chatzopoulos, T., 2020. Budgetary Impacts of Adding Agricultural Risk Management Programmes to the CAP. Journal of Agricultural Economics. https://doi.org/10.1111/1477-9552.12406

Πιριπίτση, Μ., 2020. Effective risk management methodologies for digital transformation banking projects. A case study for the digital transformation programme in a major bank in Cyprus. http://hdl.handle.net/11128/4712