Solved: Risk Analysis and Mitigation
Prompt: Your email memo and attachments should be drafted in a Word document with the project charter, RACI chart, and Gantt charts included in an appendix.
In your memo, you will describe background information about the project that you are working on, detail information about a specific project risk, and propose a recommended risk mitigation strategy to your leadership team.
Your memo will make use of the following project scenario: Regatta University is a leader in both traditional education and career-path development, including in emerging fields.
The university prides itself on staying on the leading edge of curriculum and degree programs, learning methodologies and instructional technologies, student services, and demonstrated student success. “The future is here and now,” the university’s president, Martha Yoon, likes to say. Regatta serves approximately 8,000 students at locations including the original campus in Augusta, Maine, and satellite campuses in Ventura, California; Dayton, Ohio; and Hilo, Hawaii.
In a typical term, approximately 40% of Regatta’s students take courses at a distance through the university’s online education hub. Enrollment growth has been strong, increasing by 4 to 8% each year for the last decade.
You are a key member of the information technology team at Regatta, with a core specialization in student services. You are responsible for providing userfriendly interfaces connecting to a flexible, powerful information structure. Now you have a new project—working with colleagues to create a student degree progress tool that students will use for accurate, instant information on their progress toward program and degree completion.
As you may imagine, this tool is eagerly awaited by a variety of stakeholders, including Regatta academic advisors and the Office of Enrollment Management, as tracking and communicating student progress toward degree completion is vital for retention. “We need a tool that will be easy to use but also accurate. No misinformation!” your team manager says. Your memo will analyze and recommend mitigation strategies for one project risk.
The risk you choose to focus on must come from the list of project risks in the provided Project Management Documents Excel worksheet. They are located in the tab titled Risk Matrix. Specifically, the following critical elements must be addressed in your memo:
I. Introduction: Using the Student Degree Progress Project Charter document, the RACI chart in the Project Management Documents workbook, and the Gantt Chart document as guides, provide background information on the project you are working on.
A. Describe the purpose of the project and the end objective, including where this information is documented.
B. Identify the key stakeholders involved in the project, including an explanation of their roles and responsibilities.
C. Describe your own role and responsibilities on the project team, citing specific information from the project’s Gantt chart.
D. Explain the triple constraint relationship between the project’s scope, schedule, and budget.
Support your response with examples from the project materials and your experience in adding the new element to your project during Milestone Two.
II. Project Risk: Select a risk from the list in the Project Management Documents workbook. Using these project management documents as guides, provide detailed information about the specific project risk.
A. Explain why this risk requires attention. Support your response with examples from the project management documents.
B. Describe any dependencies within the project that may be affected by this risk. Provide specific examples from the project management documentation to support your response.
C. Explain the implications for the project within the context of the triple constraint if this risk is not addressed.
III. Risk Mitigation: Using all available project documents as guides, recommend a risk mitigation strategy.
A. Explain the steps that need to be taken in order to mitigate the identified risk.
B. Explain in detail how the proposed mitigation strategy will affect the project. Include any tradeoffs that must be made to accommodate the mitigation strategy, and consider the triple constraint and any other variables that you deem important.
C. Defend why your proposed mitigation strategy is the best course of action for the project team.
IV. Conclusion: Summarize the project needs in your project risk and mitigation proposal for your stakeholders. What are the most important pieces of information to take away?
V. Communication: Your risk mitigation email memo attachments will be evaluated based on the following elements:
A. Develop email communication in a clear and professional way, using language appropriate for the audience of stakeholders.
B. Attach supporting documentation to aid in the communication of your mitigation strategy.
Milestones Milestone One: Introduction, Stakeholders, and Roles. In Module Two, you will compose a brief project description that summarizes the student degree progress project, including its purposes, objectives, and how and where to find further information about it. This milestone will be graded with the Milestone One Rubric.
Milestone Two: Your Role and the Triple Constraint. In Module Three, you will take on one of the three technical roles on the project team. Using the Gantt chart, you will first describe the work assigned to your role. You will also list work performed by others that must be done prior to the tasks assigned to your role. In this milestone, you will also consider the implications for the project restraints with the addition of a new project component that you will create. This milestone will be graded with the Milestone Two Rubric.
Milestone Three: Project Risk and Mitigation. In Module Five, you will draft two key sections of your final project. In this milestone, you will identify and describe a project risk from the list of risks included in the Project Management Document Excel workbook, then you will recommend risk mitigation strategies. This milestone will be graded with the Milestone Three Rubric.
Final Submission: Risk Analysis and Mitigation Memo. In Module Seven, you will submit your final project. It should be a complete, polished artifact containing all of the critical elements of the final product. It should reflect the incorporation of feedback gained throughout the course. This submission will be graded with the Final Project Rubric.