Risks for Project X
Strength of material – This can be calculated quantitatively as the
engineering process is scientific and measured. It can be given a
concrete number.
Increased cost of materials – This is qualitative in that it is an
unknown. Estimates can be made based on historical information (if it
exists) but the real value cannot be assessed until after the fact, if
it happens at all.
Shortages of materials – Again, the financial impact and time delays
cannot be known until after the fact. This is qualitative.
Manufacturing delays – Since we know what labor and facilities costs
are, we can assign a monetary amount to a delay. This is quantitative.
Programming delays – Also a quantitative delay. Costs are known.
Mechanical delays – Also quantitative. The cost of downtime is a
known factor and easily computed.
Employee turnover – This can be both quantitative and qualitative as
we know what the cost of each employee is and how much it costs to
replace them, what the downtime costs and so on. It is a qualitative
risk because we have no control over the amount or frequency of
turnover.
Loss of funding – We know exactly what this would cost the project.
This is a quantitative risk.
Emergence of new technology – This is unexpected obsolescence. This
is a qualitative risk since we do not know when it would occur, how much
it would set us back (in time) or what it would cost to get up to speed.
Loss of public/government trust – Failure of the project would result
in the loss of investment revenue and the diminished chance for future
projects. This is a qualitative risk.
Product specification/transportation – Due to the weight/complexity of
the product/project – will the project be able to be made within the
DoD guidelines for over the road transportation and will we be able to
make this unit sizable for the tractor trailer unit that it is intended
to be mounted on?
Business Homework Solutions
#63992
Risk Management-AMDS
Scenario:
You work for a major defense contractor. Your company prepared and submitted a bid for a recent Department of Defense RFP, entitled Automated Mobile Defense System (AMDS). You have been assigned to lead Project X, which will design, develop, test, demonstrate and deploy 10 AMDS units to a location to be determined by the DoD assuming a successful demonstration. This project is expected to take at least 5 years to complete at a cost of $1.5 billion. If you are successful and deliver a quality product on time and within budget, the DoD will order 150 more AMDS units at a price of $10 million per unit. The goal of Project X is to develop a defense system to protect major and strategic cities within the US in the event of a missile attack from a hostile nation. It is to be a redundant system; the last in a series of defensive weapons to be used only in the event that all other defensive systems have failed; when enemy ABMs are approaching the US and only AMDS is left to take them down.
The conceptual design for the AMDS that your company submitted in response to the RFP consists of a mobile housing unit (MHU) containing 20 anti-ballistic missiles (ABMs) based on a radically new design; an anti-missile control computer (AMCC) used to automatically target and deploy the ABMs; and a retrofitted detection device (code name: SKYEYE) built on proven, patented radar technology which your company owns. All of these devices: the ABMs, the AMCC and SKYEYE will be completely housed in the MHU, which is planned to be an enhanced18-wheel tractor-trailer. A self-contained power source (for the ABMs) and solar charged batteries for the AMCC and SKYEYE make the entire AMDS portable and completely automatic (no personnel are required to operate any of the systems). However, military personnel on a regular basis will perform routine system monitoring and maintenance, preferably from a remote site. On-site maintenance should only be needed on rare occasions expected to arise from unforeseen events such as earthquake, tornados, ice storms, etc. Should it become necessary, military personnel will move the AMDS to a location known only to them. While it was not included in the design accepted by the DoD, your company would like to be able to provide additional capability with the system: they would like the AMDS to be able to operate while it is being moved.
You are the project manager and oversee the efforts of over a dozen nuclear scientists, engineers, and technology professionals. Many of them are acquainted with the rudiments of project management, but very few know much about project risk management. You'll need to do some education along with managing schedule, budget and scope.
Task details
1-2 page doc or Excel Spreadsheet
Create a Risk Template by listing those risks that you think are appropriate for Project X. The template should include:
Description of the risk
External risks
Internal risks
Budget risks
Schedule risks
Resource risks
Quality risks
Categorize and quantify them according to your knowledge of risks and risk templates. Include at the top or bottom of the template assumptions about the project.
Objective: Use effective communication techniques.
Employ the techniques for monitoring and controlling risks
Apply the basic competencies of the project manager in understanding and planning for risk
Attached are some risks for the project however I am unsure how to formulate a risk template and any guidance in foreseeing further risks and categorizing is needed if possible.
Risk Management-AMDS
What is this?
By OTA - Overall OTA Rating
Sandeep Bardia, MBA - 4.8/5
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