Posted: December 8th, 2014

Project Risk Analysis

Project Risk Analysis

1.Identify potential risks associated with this project. Try to identify at least five different risks.

1.Use a risk assessment form to analyze identified risks. (see Page 217)

1.Develop a risk severity matrix for your project. (see Page 218)

1.Based on this analysis, develop a risk response matrix to outline how you would deal with each of the risks. (see Page 224)

1.Create a change control form and plan for your project. (see Pages 230-233)

The Book is Project Management: The Managerial Process by Erik Larson

Examples in Book:
1.Risk Assessment table (see Fig 7.6) – provide top 5-6 risks identified as R1, R2, R3, R4, R5, R6
2.Risk Severity Matrix (see Fig 7.7)
3.Risk response Matrix (see Fig 7.8)
4.Change request Form (see Fig 7.10 and example Course Content) – a form for each risk (could cause WBS to change)

The best way to ensure you learn and can apply the project management strategies, techniques, and tools from this course is to use them to a specific project.  Below is a business situation description that requires a project to achieve the objectives.
You are hired by Fred Controls, the CFO and project sponsor, to lead a project to improve the sales and operations data for DCB Pharmaceuticals.  This is an extremely important project for the company’s future.
As the first phase, you need to develop a project plan for this project (code named: DCB Trial).

Situation Data
DCB Pharmaceutical company generated $100 million revenue; one product in a few different packaging configurations; product sold to doctors or doctor practice groups
Management and team members – CEO (Janet Sales) and CFO/Project Sponsor (Fred Controls); IT resources – Manager, ERP application analyst, database analyst; sales operations resource – analyst
Product distribution:
US: via single distributor
Canada: via single distributor
EU: via three distributors (Germany/Netherlands, Italy , Israel)
Demand data:
US: received by distributor at doctor/doctor practice group level (mixed) for sales data (moderate data integrity)
Distributor manages doctors/doctor practice groups relationship
Company satisfies product orders from distributor
Canada: nothing received, only product order data from distributor
EU: nothing received, only product order data from distributors
ERP software captures product order data for distributors in SQL database; US distributor data sent by distributor

Management Need
Management desires a dashboard for sales management by market to support decision making including identifying impact of the following:
Marketing promotions launched by market are known
Competition is providing alternative solution to doctors that uses new technology and does not require DCB Pharma’s product
Operations/supply chain performance can be volatile given complex product formulation and complex packaging requirements
Fred Controls (CFO/Project Sponsor) has budgeted $250,000 for the DCB Trial project with a desired implementation date of six months for the entire project from planning through implementation; DCB Trial is an important project and management is very keen on timely implementation
The project manager (you) is reporting to the Executive Oversight Committee (EOC) with Janet Sales, CEO, as the chairman. The EOC includes Janet Sales, Fred Controls, and at least three other stakeholders whom Janet Sales asked you to identify.

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