ITC505 Risk Planning Assignment Sample

• Subject Code : ITC505
• University : Charles Sturt University (CSU) My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name : Project Management 3

ICT Project Management

Table of Content

Introduction

4.1 Risk planning

4.2 Project progress and closeout

4.3 Knowledge management feedback form

Conclusion

Reference list

Introduction to Risk Planning

The report demonstrates the in-depth risk scanning of the Melbourne university campus opening in Little Collins Street. The project manager of the amenities project concentrates on the improvement of the system for entry-exit into a 24 hours dining cafe along with the various cuisine items serving facilities. The philanthropist decision is to equip and renovate the state-of-art building. An anonymous person provides the whole building space for the allocation of university students. The project planning includes the dinning cafe, library, recreation area, gym, secured car and cycle parking zone, mini-theatre, and indoor pools. The project management decides to accommodate one floor with beauty & health services, prayer rooms, dental & medical clinic, and counselling services. The report illustrates the idea of the project progress by enlightening the new strategies of project implantation to make the project successful. Knowledge management feedback form is an essential record of the student feedback about the project outcome services. The feedback form will help to justify the satisfaction level of the students regarding the entire services. 

4.1 Risk Planning

Risk planning is a significant notion of risk identifications, prioritising, and risk management. It becomes a crucial part of the Melbourneproject management to measure uncertain conditions and events.

4.1.1 The identification of the risks- The strong risk identification is necessary to complete the critical success factors (Brewer & Dittman, 2018). The associated risks with the university campus establishing project is identified below.

Unsuccessful preferences of the previous project- Unfortunately, the university campus establishing project holds the abandoned record. The previous project manager can't successfully operate the university campus establishing the project and the entire team experienced bankruptcy. The previous project executives and their entire team are sacked from their position (Cooper & Sommer, 2018). It was stated that the traditional technologies were also inclined with the project that thumbs down the entire project entities.

Lack of sufficient accommodation- The provided building for the university campus establishing project encompasses 500 residents for the students that are not sufficient for the university (Cooper & Sommer, 2018). The project manager of the university campus establishment is facing difficulties to successfully run the project due to the lack of student accommodation.

Lack of proper kitchen controlling attributes- The food and drink costs of the students are indeed included in the annual residential fees but there is no authentic kitchen system for the students. The project manager faces difficulties to deal with both vegetarian and non-vegetarian students (Ittner & Michels, 2017). The lack of a proper recording system in the kitchen can thumbs down the entire performance of the university campus establishing project.

Fed up with the existing Cafeteria operations- The principle of the University noticed that many resident students left the accommodation due to the boring cafeteria operations in the previous quarter (Ittner & Michels, 2017). The amenities project manager finds out that the reduction of food varieties and outlet numbers possess restrictions for the students to demonstrate their food habits.

The implementation issues of 24 hours enter-exit pathway- The amenities project manager concentrates on the system development for 24 hours enter-exit pathway that inclines the higher IT professional who will design the strategic systems. The amenities project manager faces issues to hire IT experts as in most cases, it consumes more financial assets and time (Luo & Peng, 2017). The IT professional has to pay attention to each security system and dining facilities to deploy a better enter and exit system. Without proper surveying on the entire university campus establishing project objectives, the IT professional can’t develop the algorithms and automated programming in this context. 

4.1.2 Risk prioritising- Risk prioritising refers to the authentic risk analysis that helps the amenities project manager to analyse the identified risks. The amenities project management requires developing the following risk planning template.

4.1.3 Risk management- The risk management refers to demonstrating both existing as well as future risks. The amenities project manager needs demonstrating the risk upgrading to justify the risks. The amenities project manager aims to adapt proper risk assessment policies that can potentially reduce the amenities project risks (Meredith et al., 2017). The online risk portals are beneficial to justify the intensity of the risks and provide the best connote solution. Sustainable management adheres the best support to continue the best risk assessment practices. The amenities project manager needs to access the risk assessment criteria to properly handle the risks

Risk accession- The amenities project manager first recognised the necessities of the risk management in the features of the strategic consideration to the operational planning. The continuous monitoring of the existing operating sections of the university to portray the blueprint of the designs (Newig et al., 2016). The decision-making processes are handled with the support of the experts for verifying the quality of the amenities project preferences.

Effective risk mitigation implanting- The amenities project manager minimises the risk preferences by demonstrating the observed risk treatments. It Impacts on the objectives and continued efficiency of the amenities project management (Roca et al., 2016). The effective risk mitigation planning incorporates the entire amenities project planning and the decision-making process. The team members of the amenities project must implement the risk mitigation as per the required legislative and proper risk mitigation standards.

Knowledge development for risk mitigation- The amenities project manager ensures that the relevant amenities project stakeholders are strong enough to justify the risks and capable to handle a potential amount of risks. The talents and skills are developed to instantly access the risks and perform the risk population in the context of fostering the better project inclination. 

4.2 Project Progress and Closeout

4.2.1 Project management software

The project management software is beneficial for the amenities project manager to focus on cafeteria operations. The cafeteria management creates some cumbersome processes as the manager of the cafeteria handles menus, attendances, and traces the consumption. The entire process can't be done manually and leads to the inaccuracies and wastage of money (Sajad et al., 2016). CampusLive demonstrates the cafeteria management module that helps the cafeteria manager to keep the track record of the student's choices.

ERP Software- The ERP software allows cafeteria management to access the student data in the real-time context. It keeps the track record of the utilised menu items that are demonstrated for computation every month. The ERP software helps the cafeteria management to keep the track record of the perishable food lists.

Token management software- The cafeteria manager focuses on the reliable and cashless payment method that allows the students to pay their cafeteria bills through credit card, debit card, and online payment system. This system helps the students a lot and replaces the long queues (Sajad et al., 2016). Token management software eradicates the chances of money loss through a trustworthy payment interface.

4.2.2 Project management methods

Agile project management technique- Agile project technique demonstrates the principle sets that are based on the value-oriented approach. It is beneficial to divide the project work into smaller portions. The amenities project management can illustrate the fostering team, adaptive planning, and continual improvement through agile project management. Agile has a wider demonstration in the project development field and it provides reliable schemes for cafeteria software installation (Vishambar et al., 2016). The configuration of the successful project management demonstrates multiple levels of the work structures, trace both short as well as long deadline works. The cafeteria planning procedures get a reliable state of execution and the project management can create the Karbon boards to observe work progress.

Work breakdown method- The work breakdown method demonstrates the way of organising the project tasks into smaller pieces. The amenities project manager divides the project task into manageable small pieces that can be completed within the deadlines. The amenities project manager can handle each team member by assigning a specific task to them (Wang et al., 2016). The work is divided into multiple layers where the lower levels define more detailed work distribution. It is effective to measure the overall budgeting criteria based on the schedules of the work breakdown. 

Cuisine demonstration technique- The project manager seeks to poll student residents with the different types of cuisine that are appreciated by the students. Cuisine A contains vegetarian items for vegetarian students. Cuisine B contains the non-vegetarian items for the non-vegetarian students. Cuisine C contains the allergy-free food items and the Cuisine C is offered to the students who have an allergy (Wu et al., 2016). The food quotation system and the food notification helps to identify the different food habits students and cuisines are offered accordingly.

Contractual obligations- The cafeteria outlet will remain open in 24*7 and the cafeteria manager decides to change the menu after a certain hour. There are no takeaways allowed and the guests are permitted into the cafeteria if they are accompanied by the residential students. The cafeteria decides to offer the students with four big food providers.

4.2.3 The relevant skills of the project manager

The justification of the skills of the amenities project manager is important to verify the captivity of the project manager to handle the entire project. The skills of the project manager are clarified below.

Leadership skill- The amenities project manager would be enough skilled to handle the entire team. The amenities project manager can realise the reasons for the failure of the previous project and it is important to look into the vision of the project to clarify the doubts (Wu et al., 2018). The higher team collaboration skills reflect the leadership quality that can strongly resolve the project conflicts.

Critical thinking skill- The critical thinking invites excellent decision-making ability and helps the amenities project manager to instantly make the decision (Luo & Peng, 2017). The critical thinking skills can be built by evaluating throughout project demonstration practice.

Communication skill- Effective communication skills help to remove project confusion. Effective communication can eradicate the chances of task overlapping and task inaccuracy. The continuous connection with the project team members can effectively detect the risks.

4.2.4 Timeline and budget designing

Timeline designing is demonstrated below.

Budget designing is exemplified below.

4.3 Knowledge Management Feedback Form

The knowledge management feedback form demonstrates the measurements of the success of the amenities project. The feedback form sheds light on the student preferences regarding the justification of the existing food quality and the accommodation facilities. The knowledge management feedback form helps the IT manager to attach the valuable facilitated systems to develop the dining and accommodation facilities for the students (Mayer et al., 2017). There are a total of 100 students who are randomly selected and collect their respective feedback to illustrate the feedback form. The feedback form contains some questions and the students provide their respective feedbacks that will qualify the project preferences. The ratings of the sampling questions are provided below.

Sample question 1: Are the students satisfied with the existing food preferences?

The knowledge management feedback form describes that out of 100 students there are 17% of students are strongly agreed, 18% of students are agreed, 45% of students are neutral, 12% of students disagree, and 8% of students are strongly disagreed with the existing food preferences (Wu et al., 2018). Therefore, it can be said that food preference is almost average.

Sample question 2: Are the students comfortable with the existing dining system and the variety of foods?

The knowledge management feedback form mentions that out of 100 students there are 12% of students are strongly agreed, 15% of students are agreed, 35% of students are neutral, 20% of students disagree, and 18% of students strongly disagreed with the existingdining system and the variety of foods. Therefore, it can be said that there exist an average dining system and food varieties.

Sample question 3: Do the students agree with the existing cafeteria operations?

The knowledge management feedback form mentions that out of 100 students there are 30% of students are strongly agreed, 15% of students are agreed, 25% of students are neutral, 16% of students disagree, and 14% of students strongly disagreed with the existing cafeteria operations. Therefore, it can be said that there exists an optimised cafeteria operation.

Sample question 4: Do the students think about the authentic qualification of the risk assessments?

The knowledge management feedback form demonstrates that out of 100 students there are 30% of students are strongly agreed, 40% of students are agreed, 20% of students are neutral, 6% of students disagree, and 4% of students strongly disagreed with the authentic qualification of the risk assessments. Therefore, it can be said that there exists an excellent authentic qualification of the risk assessments.

Sample question 5: Are the students satisfied with the renovated 24 hours enter-exit dining system?

The knowledge management feedback form illustrates that out of 100 students there are 21% of students are strongly agreed, 30% of students are agreed, 29% of students are neutral, 11% of students disagree, and 9% of students strongly disagreed with the renovated 24 hours enter-exit system. Hence, it can be said that there exists an optimised 24 hours enter and exit system.

Conclusion on Risk Planning

After the assessment of the entire report, it configures that the risk planning helps the amenities project manager to diagnose the potential risks. It can successfully annotate the risk factors in future project inclination. Agile project management can maximise the values of cafeteria operative solutions. The report projects light on the project progress to point out the relevant project management software, methods, and techniques. The project management skills are pointed out to effectively access the relevant skills that are beneficial for project managers. The report sheds light on the feedback form to realise the student feedback about the cafeteria system and the accommodation facilities. 

Reference List for Risk Planning

Brewer, J. L., & Dittman, K. C. (2018). Methods of IT project management. Purdue University Press.

Cooper, R. G., & Sommer, A. F. (2018). Agile–Stage-Gate for Manufacturers: Changing the Way New Products Are Developed Integrating Agile project management methods into a Stage-Gate system offers both opportunities and challenges. Research-Technology Management, 61(2), 17-26.

Ittner, C. D., & Michels, J. (2017). Risk-based forecasting and planning and management earnings forecasts. Review of Accounting Studies, 22(3), 1005-1047.

Luo, Z., & Peng, J. (2017). Performance evaluation of engineering project management by modern management methods. Acta Technica, 62(7A), 1033-1042.

Mayer, L. A., Loa, K., Cwik, B., Tuana, N., Keller, K., Gonnerman, C., ... & Lempert, R. J. (2017). Understanding scientists’ computational modeling decisions about climate risk management strategies using values-informed mental models. Global environmental change, 42, 107-116.

Meredith, J. R., Mantel Jr, S. J., & Shafer, S. M. (2017). Project management: a managerial approach. John Wiley & Sons.

Newig, J., Kochskämper, E., Challies, E., & Jager, N. W. (2016). Exploring governance learning: How policymakers draw on evidence, experience and intuition in designing participatory flood risk planning. Environmental Science & Policy, 55, 353-360.

Roca, E., Julià-Verdaguer, A., Villares, M., & Rosas-Casals, M. (2018). Applying network analysis to assess coastal risk planning. Ocean & Coastal Management, 162, 127-136.

Sajad, M., Sadiq, M., Naveed, K., & Iqbal, M. S. (2016). Software Project Management: Tools assessment, Comparison and suggestions for future development. International Journal of Computer Science and Network Security (IJCSNS), 16(1), 31.

Vishambar, A., Kaustubh, S., Kartik, P., & Salunkhe, A. (2016). Risk planning in construction of highway project: Case study. International Journal of Latest Research in Engineering and Technology, 2, 57-63.

Wang, Z., Wang, N., Cao, J., & Ye, X. (2016). The impact of intellectual capital–knowledge management strategy fit on firm performance. Management Decision.

Wu, D., Li, J., Xia, T., Bao, C., Zhao, Y., & Dai, Q. (2018). A multiobjective optimization method considering process risk correlation for project risk response planning. Information Sciences, 467, 282-295.

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