Project Risk Management Plan, management homework help

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Business Finance

Description

Resources:

  • Baltzan, P., and Phillips, A. (2015). Business Driven Information Systems (5th ed).
  • Week 5 articles and videos
  • It is recommended students search the Internet for a Project Risk Management Plan template.

Scenario: You are an entrepreneur in the process of researching a business development idea. As you create a high-level Information Technology (IT) strategy for your new enterprise, it is important to address risks to IT. A Project Risk Management Plan will guide the process of identifying enterprise risks and the appropriate steps to mitigate and manage the risks. The Data Collection Plan is intended to describe a high-level process for applying enterprise resources in identifying, analyzing, and mitigating IT risks. The Risk Management Plan is a working document, which is expected to change over time as new project details emerge.

Create a high-level Project Risk Management Plan for your project in a minimum of 1,050 words which includes the following information:

  • A description of the enterprise IT risks
  • An assessment of the enterprise exposure to each risk
  • A summary of the highest priority risks
  • High-level procedures to mitigate and manage the most likely risks
  • High-level procedures to address business resumption and disaster recovery

Cite a minimum of 3 peer-reviewed references from the University of Phoenix Library.

Format consistent with APA guidelines.

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Explanation & Answer

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Risk Management Plan
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Contents
Introduction ........................................................................................................................... 2
Description of IT Risks ........................................................... Error! Bookmark not defined.
Summary ............................................................................... Error! Bookmark not defined.
Risk Management and Mitigation ........................................... Error! Bookmark not defined.
Disaster Recovery.................................................................. Error! Bookmark not defined.
Bibliography ........................................................................... Error! Bookmark not defined.

Introduction
Technology continues to increase its strategic importance at the same rate it does its
risk factors to an organization (Baltzan & Phillips, 2015). Corporate environments are
engaging in the rapid deployment of emergent technologies, an activity aimed at promoting
performance and productivity. At the same time, these technologies are still in their
development; hence, entail numerous weaknesses that could cause devastating damage to an
organization. Therefore, the need for these technologies to meet the regulatory requirements
is at an all-time high, with the increasing scrutiny of technological systems and processes at
use in the organization. Failure to implement the necessary IT controls in enterprise systems
could be catastrophic, and in some cases, have brought down entire organizations. A highlevel information technology enterprise strategy ought to address the risks facing IT
components and frameworks. The process of identifying enterprise risks and their respective
methods of mitigation can be foreseen through the use of a risk management plan.
This plan is a documentation of the procedures and processes to be adhered to in the
control and management of events capable of harming an organization and its processes.
Under this plan, the IT risks facing the enterprise are described, and the potential risk factors
asses...


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