Project risk management by job description

Assignment Help Project Management
Reference no: EM1345552

Project Risk Management by Job Description

Scenario:

You work for a major defense contractor. Your company prepared and submitted a bid for a recent Department of Defense RFP, entitled Automated Mobile Defense System (AMDS). You have been assigned to lead Project X, which will design, develop, test, demonstrate and deploy 10 AMDS units to a location to be determined by the DoD assuming a successful demonstration. This project is expected to take at least 5 years to complete at a cost of $1.5 billion. If you are successful and deliver a quality product on time and within budget, the DoD will order 150 more AMDS units at a price of $10 million per unit. The goal of Project X is to develop a defense system to protect major and strategic cities within the US in the event of a missile attack from a hostile nation. It is to be a redundant system; the last in a series of defensive weapons to be used only in the event that all other defensive systems have failed; when enemy ABMs are approaching the US and only AMDS is left to take them down.

The conceptual design for the AMDS that your company submitted in response to the RFP consists of a mobile housing unit (MHU) containing 20 anti-ballistic missiles (ABMs) based on a radically new design; an anti-missile control computer (AMCC) used to automatically target and deploy the ABMs; and a retrofitted detection device (code name: SKYEYE) built on proven, patented radar technology which your company owns. All of these devices: the ABMs, the AMCC and SKYEYE will be completely housed in the MHU, which is planned to be an enhanced18-wheel tractor-trailer. A self-contained power source (for the ABMs) and solar charged batteries for the AMCC and SKYEYE make the entire AMDS portable and completely automatic (no personnel are required to operate any of the systems). However, military personnel on a regular basis will perform routine system monitoring and maintenance, preferably from a remote site. On-site maintenance should only be needed on rare occasions expected to arise from unforeseen events such as earthquake, tornados, ice storms, etc. Should it become necessary, military personnel will move the AMDS to a location known only to them. While it was not included in the design accepted by the DoD, your company would like to be able to provide additional capability with the system: they would like the AMDS to be able to operate while it is being moved.

You are the project manager and oversee the efforts of over a dozen nuclear scientists, engineers, and technology professionals. Many of them are acquainted with the rudiments of project management, but very few know much about project risk management. You'll need to do some education along with managing schedule, budget and scope.

Project area needing assistance/guidance
Even though you are the project manager and the one ultimately responsible for planning and implementing the project plan, you believe that risk management is "everybody's business." Your team understands what risk management is; you want to take them a step further and have them integrate risk management into their roles and responsibilities. Draft a memo outlining your ideas how the following team members could integrate risk management into their jobs:

Nuclear scientist
Engineer
Technologist/programmer
Research associate
Facilities supervisor

The project that our organization is soon to be embarking is a multi-million dollar project which has the ability to affect a large magnitude of individuals within the nation. As it is a Homeland Mobile Defense System which is to protect the citizens of our country in the event of destruction/war. However, it can also boost the economy through increased revenue, jobs and other aspects. But these areas and the project does not come with risks. I am just unclear as to how to "integrate" risk into the roles of the above individuals to formulate a proper 2 page memo with the proper attention that it deserve. As risk management is essential to every project and should be part of all members roles to assist in the successful outcome of the project. It will assist in this scenario in decreasing the chance for loss of life, decreased reputation, loss of jobs, and loss of revenue. But any assistance or guidance would be greatly appreciated!

Reference no: EM1345552

Questions Cloud

Interaction of the balance sheet and income statement : Internal financial data is not available to public, so we have to rely on external data for our analysis. Review the financial statements for 2 years for your firm which is Walgreens and another firm which is CVS in the same industry.
Computing average net profit per sale of product : Your company bought 250,000 online advertising impressions and made average net profit per sale of product of $5.
Evaluate a project budget : While the organizational goal is to operationalize project cost effectively, there are always trade-offs. The first thing to understand is how the project budget is calculated how do organizations evaluate a project budget?
Find the force acting on a moving electron : An atomic nucleus of mass 288 u moving at 405m/s emits an alpha particle of mass 4.0 u in the direction of its velocity. If the remaining nucleus slows to 360m/s, what velocity does the alpha particle have when it is emitted.
Project risk management by job description : Prepare a draft outlining your ideas how the following team members could integrate risk management into their jobs - Project Risk Management by Job Description
Electronic fraud and cyber attacks : In an rising wired world, what should company of the world do to protect the Financial Privacy of Individuals?
Prepare a risk response for each of fifteen risk : Prepare a risk response for each of fifteen risk identified and assessed, capture the information in a word or excel document.
Calculating dollar cost of jpy loan : ABC Inc. borrows 100m JPY when JPY spot rate is JPY120/$. The JPY interest rate for the loan is 3%. One year later when ABC pays back the JPY principal and interest, the exchange rate is JPY 95/$. What is the dollar cost of ABC's JPY loan?
Program to fill 0s and 1s into tictactoe board : Write a program which randomly fills in 0s and 1s into TicTacToe board, prints board.

Reviews

Write a Review

Project Management Questions & Answers

  Create a project schedule and align resources

Create a project schedule and align resources, Analyze project schedule and resource allocation

  Managerial roles and gap analysis

Write a report on Managerial Roles and Gap Analysis

  Questionaire on project management

Questionaire on Project Management

  Describe the market growth rate for product

Describe the market growth rate for product and service.

  Prepare a work plan and project schedule - gantt chart

Design an online system for the human resources department to manage available job positions.

  Project risk management approach

How does a project risk management approach pro-vide an early warning signal for impending problems or issues

  Black-scholes options pricing model

Calculate the payoff and the profits for investments

  Describe the features or characteristics of product

Describe the features or characteristics of your product or service.

  Write paper on inventory management system

Write paper on Inventory Management System.

  Analysis of the overall project risk

Analysis of the overall project risk

  Investment and performance analysis

Evaluate the usefulness of ROCE

  Distribution strategy and project management

Distribution strategy and project management

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd