20 Feb IMPLEMENTING RISK MANAGEMENT
Consider the professional projects you have worked on in the past or ones with which you are familiar. In any of those projects, were there problems that could have been avoided or perhaps an opportunity that was missed? Either way, the end results of the project were affected in a negative manner. Had there been more effective risk management, the impact of the negative issue could have been minimized, while the opportunity’s benefit maximized.
Unfortunately, failure to adequately implement risk management into a project is not uncommon. This is not always for a lack of trying, as there are several risk management mistakes that are commonly made on projects. For example, sometimes the risk management process is carried out too late; not allowing sufficient time to resolve or circumvent risks. Should risk management be effectively implemented, however, the end results of the project will be improved.
With these thoughts in mind, reflect on any current, or past, project teams with which you have worked. Did your team attempt to implement risk management? For this Discussion, you will analyze the results of that implementation, or lack thereof.
RESOURCES
Be sure to review the Learning Resources before completing this activity.
Click the weekly resources link to access the resources.
WEEKLY RESOURCES
To prepare for this Discussion:
Review the relevant Learning Resources from this week.
Read the resources on IT risk management.
BY DAY 3
Post an initial post of 300–400 words in which you:
Summarize a current or past project with which you have worked.
Explain whether your team attempted to implement risk management:
oIf yes, explain whether the team was successful in implementing risk management and why. Analyze how the project was affected by this successful risk management implementation.
oIf your team was not successful in risk management implementation (or did not implement it at all), explain why and analyze how the consequences impacted your project.
Use external credible and scholarly resources and personal experiences to support your post.
Refer to the Week 8 Discussion Rubric for specific grading elements and criteria. Your Instructor will use this grading rubric to assess your work.
LEARNING RESOURCES
Required Readings
Pimchangthong, D., & Boonjing, V. (2017). Effects of risk management practices on IT project successLinks to an external site.. Management & Production Engineering Review, 8(1), 30–37. https://doi.org/10.1016/j.proeng.2017.03.158
Document: IT Risk Management Case Study Sample Solution (PDF)Download IT Risk Management Case Study Sample Solution (PDF)
Required Media
Walden University, LLC. (2017). Incorporating cyber security in an IT security risk management environment [Video]. Walden University Canvas. https://waldenu.instructure.com
Note: The approximate length of this media piece is 7 minutes.
Walden University, LLC. (2016). Risks in IT projects [Video]. Walden University Canvas. https://waldenu.instructure.com
Note: The approximate length of this media piece is 6 minutes.
Walden University, LLC. (2016). IT risk management [Video]. Walden University Canvas. https://waldenu.instructure.com
Note: The approximate length of this media piece is 6 minutes.
Walden University, LLC. (2016). IT risk management case study [Video]. Walden University Canvas. https://waldenu.instructure.com
Note: The approximate length of this media piece is 2 minutes.
Optional Resources
Kaplan, R. S., & Mikes, A. (2012, June). Managing risks: A new framework. Harvard Business Review, 90(6), 48–60. http://hbr.org
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