Description
Identified and Assessed Risks
Recall the scenario you used for previous assignments. (This will either be the Cafeteria Ordering System case example
or a business problem scenario that you created). Keep in mind that you will be expected to continue to work with your chosen scenario in future assignments, including your final project.For your assignment, develop an initial assessment of anticipated risks for this project:
- List at least 5 risks that are part of (or could be part of) this business analysis effort. State each of them using the format: “If [cause], [risk] could occur, resulting in [consequence].”
- Develop a table listing each risk, with probabilities and impact assessments, and use your probability and impact estimates to rank-order the risks.
Be as specific as possible in defining your risks, and for the top priority risk listed, explain how you made your probability and impact assessments. For the top risk, consider what could be done or changed in your business analysis project to manage the risk.
Submit your completed exercise as an attachment to this drop box. Please be sure to include your last name and the course number in the title of the MS Word document: "your name X423.8 Assignment 6."
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Tittle
o Cafeteria Ordering system
Overview
o Risk identification
Types of risks
o Impact and probability table
Managing of high rated risk
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Ordering Electronically: Cafeteria Case
Name
Institution Affiliation
Course Name
Instructor
Date
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Overview
Risk represents any form of potential hazards that might cause considerable loss to the
business when poorly managed. Thus, risk identification helps systematically and deliberately
signaling these risk that is likely to have a negative impact on the companies and their potential
impacts (Siraj et al., 2019). One of the entire process's major objectives is the full understanding
of the institutional risk context as per the desired objective. To achieve a successful risk
identification procedure, understanding the key objective of the business program is extremely
important in tackling all potential risks and making sure that their impact and vulnerability are
handled in a more effective and elaborative manner.
Impacts of Potential Risk
As such, a comprehensive risk that is likely to hamper, degrade, or cause a delay in
achieving the desired objective is identified and controlled effectively within the business and
organizational context. Hence, the major role of risk identification is ensuring that the institution
will have the capacity to handle and manage its risk appropriately and as fast as possible. This is
particularly important because the intended project involves multiple technological changes,
representing considerable threats to the organization and its processes when poorly mismanaged.
As a matter of concern, technology keeps on changing, presenting its potential benefits as
well as some of the disadvantages associated with its adoption. The institution is currently
experiencing its worst-case scenario due to a manual ordering system that has led to customer
dissatisfaction and potential loss due to a poorly ordering system and food spoilage.
While the introduction of an automated ordering system within its cafeteria might in itself
help solve some of its generic risks and reduce possible negative outcomes, it is without a doubt
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that this automation process might come with itself a great risk that would completely run out of
hand. As such, all potential risks related to its internal and external operations have to be
identified and ranked for the prioritization process. Doing this will help the institution selfgovern its operations and respond to any adverse future sustainability occurrences.
Types of risk
An electronic ordering system within the cafeteria is likely to present many risks like
technological risk, which...