Risk Management Essay Sample

Harmonizing to the usher to the undertaking direction organic structure of cognition ( PMBOK guide ) a hazard is defined as an unsure event or status that. if occurs. has an consequence on at least one undertaking aim. Aims can include range. agenda. cost and quality. A hazard may hold one or more causes and if occurs may hold one or more impacts. ( Project direction institute. 2008. p. 275 )

Hazards can be farther classified as known and unknown hazards and the procedures involved in placing these hazards and their impacts and how to avoid or minimise them is critical to the success of a undertaking and therefore can be termed as undertaking hazard direction. It involves the procedure of carry oning hazard direction planning. hazard designation. qualitative and quantitative hazard analysis. hazard response planning and hazard monitoring and control on a undertaking. The chief aims of undertaking hazard direction are to minimise hazards and increase the chance and impact of positive events and diminish the chance and impact of negative events in a undertaking.

Risk direction planning is really of import because it involves make up one’s minding how to near and be after the hazard direction activities for the undertaking and this should get down as a undertaking is conceived and should be completed early during the undertaking planning. This procedure should besides take into history of cost direction. agenda direction. communications direction. environmental factors and organisational procedure assets like functions and duties and authorization degrees for decision-making. The hazard direction program dwelling of methodological analysiss. functions and duties. budget. timing and hazard classs is the chief end product of this procedure.

The hazard designation procedure involves finding the assorted hazards which are likely to impact a undertaking and documenting their features. Identifying known hazards and expect other hazards is of import for hazard direction so financess. human resources and other logistics can be included when be aftering to minimise those hazards. Tools such as SWOT analysis can be used to assist find hazards. A hazard registry dwelling of a list of identified hazards and possible responses is the chief end product of this procedure.

The qualitative hazard analysis procedure assesses the precedence that should be given to cognize hazards utilizing their comparative chance or likeliness of happening and assesses the corresponding impact on the undertaking objectives if the hazard occurs. It besides take into history other factors such as clip frame for response and the organization’s hazard tolerance associated with the project’s restraints of cost. agenda. range and quality. The chief end product of this procedure is the updated hazard registry. ( Project Management institute. 2008. p. 289 )

The quantitative hazard analysis procedure involves mensurating the chance and effects of identified hazards and its effects. It besides provides update for the hazard registry.

The hazard response be aftering procedure involves the development of options and actions to heighten chances and cut down menaces to project aims. It includes the designation and assignment of people to take duties for specific hazards responses as budgeted for.

Hazard monitoring and control involves supervising known hazards. placing new hazards. cut downing hazards. and measuring the effectivity of hazard decrease. ( Project direction institute. 2008 p. 276 – 308 )

Case survey

To better explain I will utilize a undertaking I was assigned late as a instance survey. I was asked by my head to put in a catastrophe recovery backup system for our applications. databases. waiter constellation and mail files in a safe location that is 15 Kilometers from our caput quarters. Our current apparatus has a backup system in topographic point but they are in the same room as the waiters so incase of any catastrophe like fire everything will be lost which will be a catastrophe. The waiters. web and storage systems costs 1000s of dollars and it would be a monolithic fiscal loss but can be replaced unlike the loss of informations which will non be recovered. In the visible radiation of this I was asked to put in a new backup system that would backup up informations from our bing system in a separate location utilizing microwave nexus over which the information will be transferred. It was impossible to acquire a tellurian nexus like fibre ocular because it was a built up country and we can non delve up trenches across through places and roads.

Although it was logical and practical there are several hazards involved with this undertaking and I would utilize the hazard direction procedures mentioned above to explicate how I would pull off these hazards.

The chief hazards that will impact this undertaking can be divided into three classs. IT and communications related hazards. physical security hazards and power hazards.

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IT and communications related hazards involve hardware and package failure. viruses and malware. nexus failures and human mistake. Physical security hazards involve fire and unauthorised entree to room that contains all the communicating equipment. waiters and storage devices. Power hazards involve power outage that would close down the systems and chilling systems and therefore prevent backup. These hazards if non planned for and pull off good can convey the whole undertaking to a arrest as endorsing up remotely which is the chief aim would non be done.

Risk Management Planning

As hazard direction be aftering involves make up one’s minding how to near and be after the hazard direction activities for the undertaking. I will take the undermentioned actions to do certain I have a good program to pull off the above mentioned hazards:

* Install anti-virus and anti malware package and update it daily to forestall system failure. * Have a parallel hardware system in topographic point for redundancy incase of hardware failure on the chief system. * Install another communications link as a backup in instance the primary nexus goes down. * Hire a security guard and put in biometric entree control system and CCTV to discourage unauthorised entree. * Install fire dismay and fire asphyxiators to be used in instance of fire. * Have a standby generator in instance of power failure and have it checked on a regular basis by mechanics to do certain it will ever work when required. * Create a contact list so everyone knows who to name when things go incorrect. * Establish clear functions and duties to do certain everyone knows what they are suppose to make.

Hazard designation

In order to place other hazards that might impact the undertaking I will confer with with other interest holders like the security company. the package company and the generator unit to do certain all hazards are identified and documented. The consequences of the audiences through brainstorming and interviews will be assessed and necessary steps designed to minimise or avoid these hazards.

Qualitative hazard analysis

After analysing all the above mentioned hazards and the likeliness of their happening and comparative impact they will hold on the undertaking I conclude that although all the hazards does non hold the same likeliness of happening they all should be treated with top precedence because the happening of any will take to failure of the full undertaking. The most likely hazard to go on to this undertaking is power failure due to the fact that the chief national state power is unstable and the system will necessitate to depend on uninterrupted power supply and the standby generator. This must be a top precedence because it should be prevented to minimise informations loss. Although security breach is the least likely to happen due to the fact that there will be security guards and a biometric system to discourage unauthorised entry. it has to be on top of the precedence list as unauthorised entry can take to informations larceny of extremely confidential information. Software and hardware failure is extremely improbable once the system is decently installed and configured and regular update and care done so it will but it should besides be a top precedence because it will take to informations loss. The hazard of fire is besides improbable since the room will be fire cogent evidence and fire dismaies installed but it besides has to be on top of the precedence list because if it occurs everything will be destroyed.

Quantitative hazard analysis

The most likely hazard to go on to this undertaking is power failure due to the fact that the chief national state power is unstable and the system will necessitate to depend on uninterrupted power supply and the standby generator. Although it’s the likely hazard to happen it is besides the easiest to work out and will non take to loss of informations because when power goes out the uninterrupted power supply will maintain the systems running until the standby generator switches on. If there is a power failure the systems will close down and the backup procedure will non get down which will take to informations loss. Although security breach is the least likely to happen due to the fact that there will be security guards and a biometric system to discourage unauthorised entry. if there is a breach it can take to informations larceny of extremely confidential information. Software and hardware failure is extremely improbable once the system is decently installed and configured and regular update and care done to forestall failure. Though fire. package and hardware failures are the least likely hazards to happen they will hold the greatest impact if they occur. Fire will destruct all installings and all informations backed up will be destroyed. Software and hardware failure will hold a great impact particularly if the failure consequences in lost informations that can non be recovered and besides if the hardware failure can non be repaired or replace on clip

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Hazard response planning

In this procedure I would seek to utilize an turning away scheme to seek to forestall the hazards from go oning in the first topographic point but if it does go on I would supply an alternate solution and who is responsible to implement it to. In instance of power failure. to wholly avoid this hazard from go oning a 20 Kva UPS system will supply backup power to the systems and the standby generator will be programmed to come on instantly when power goes out and if it does non the generator mechanics should be called on wireless or telephone to inform them.

In instance of security breach. a metal door with biometric entree will be installed to forestall unauthorised entry but if this is breached the security guards on responsibility should name the main security officer by wireless or telephone. In instance of hardware and package failure to the primary system an electronic mail qui vive will be sent to the IT technicians responsible and the secondary redundant system will be activated by the IT technicians. In instance of fire. the room will be a non smoke room and all electrical overseas telegrams will be isolated to forestall fire. Fire dismaies and asphyxiators will be fitted in instance of fire and all staff will be taught how to utilize the asphyxiators in instance of fire. To avoid communications failure a redundant orbiter nexus will be installed and autumn over will be automatic when the microwave nexus fails. Communications technicians will be alerted by the system utilizing email qui vives. All these inside informations will be added in the hazard registry.

Hazard monitoring and control

To decently supervise and command all the above mentioned hazards I would document all happenings if and when they occur and the class so we can seek to avoid it reiterating every bit much as possible. For illustration if power goes away frequently at a peculiar clip of the twenty-four hours this will be documented and generator mechanics will be available at those times to do certain the UPS or the backup generator works as it should. What are the processs for implements TQM and the barriers? Explain you answer. Entire Quality Management

Harmonizing to the Chattered Quality Institute. Total Quality Management ( TQM ) is a direction attack centered on quality. based on the engagement of an organization’s people and taking at long term success. This is achieved through client satisfaction and benefits all members of the organisation and society. It besides stated that TQM is a doctrine for pull offing an organisation in a manner which enables it to run into stakeholder demands and outlooks expeditiously and efficaciously. without compromising ethical values. ( Chattered quality institute. 2012 ) From the definition above I believe that for an organisation to implement entire quality direction it must endeavor to accomplish changeless client satisfaction by uninterrupted betterment of its organisational procedures utilizing its people to supply high quality merchandises and services that meet or exceeds outlooks. Since TQM is centered around quality how it is managed should be critical.

Harmonizing to the international organisation for standardisation ( ISO ) there are eight quality direction rules on which the quality direction system criterions of the ISO 9000 are based. These rules if used as a model by an organisation can take to improved public presentation and entire quality direction. The eight rules are: – client focal point. leading. engagement of people. procedure attack. system attack to direction. continual betterment. factual attack to determination devising and reciprocally good provider relationships ( ISO. 2012 ) Customer focal point

All concerns exists to do net income and to accomplish this they depend greatly on their clients. An organisation that wants to implement TQM should set their clients foremost and should understand the current and future demands of its clients and do all it can to run into and transcend their outlooks. There are several ways an organisation can better its client focal point like researching and understanding client demands and outlooks and from feedback from clients. Leadership

Based on the above definition an organisation needs its people to implement TQM and achieve the organisations objective. Peoples are the most of import assets in an organisation because they work to bring forth the quality merchandises and services that are needed by the clients. For an organisation to successfully implement TQM it’s critical for it to hold a good leading to choose. usher. direct. motivate and supply all the necessary resources to its staff to invariably bring forth top quality merchandises and services and achieve the organization’s aim. Engagement of people

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For an organisation to successfully implement TQM it needs to affect its people from all degrees in the organisation to accomplish the organization’s aims. Everyone in every degree in the organisation must be on the same page to lend to the continual betterment of its merchandises or services to ever run into its customer’s outlook. Process attack

For an organisation to successfully implement TQM it needs to accomplish its aims in an effectual and efficient manner. Harmonizing to ISO 9000 a desired consequence is achieved more expeditiously when activities and related resources are managed as a procedure. This will assist lower costs and shorter rhythm times through effectual usage of resources. It will besides assist set up clear duty and answerability for pull offing cardinal activities. ( ISO. 2012 ) System attack to direction

Harmonizing to ISO 9000. for an organisation to successfully implement TQM it needs to place. understand and manage interconnected procedures as a system in order to lend to the organization’s effectivity and efficiency in accomplishing its aims. This will heighten the integrating and alliance of the procedures that will outdo accomplish the coveted consequences and concentrate attempt on the cardinal procedures to accomplish the organization’s aim. Continual betterment

For an organisation to successfully implement TQM it should continually better on its overall public presentation. With competition and new inventions ever coming up an organisation should ever seek to respond rapidly to new chances and ever better its merchandise and services to ever run into its customer’s outlook. Factual attack to determination devising

For an organisation to successfully implement TQM it is critical to do determinations based on analysis of informations and information. When determinations are made based on facts and analysis of informations and information it will convey approximately better determinations and increases the ability to reexamine. challenge and alteration sentiments and determinations. Mutually good provider relationships

Although an organisation and its providers are independent entities they are mutualist on each other for their success. It is critical for an organisation to have it’s required supplies in a timely mode from its providers to bring forth the needed quality merchandises and services expected by its clients. This good relationship must ever be maintained in order optimize costs and resources which are good to all. ( ISO. 2012 ) Barriers to TQM execution

There are several barriers that affect the successful execution of TQM in an organisation harmonizing to a survey by Al-Najjar and Jaward for the international diary of concern disposal and they include: – top direction committedness. employee opposition. trouble of executing internal audits. absence of consulting boards. ISO demands are unrealistic. fiscal resources. deficiency of human resources. deficient employee preparation and deficient cognition about quality plans. ( Al-Najjar. Jaward. 2011 ) TQM needs entire committedness from top direction as its execution affects the whole organisation from top to bottom and even its providers in order to accomplish uninterrupted betterment.

For this to go on top direction should be committed to plans. preparations and policies that will assist accomplish this end but this is non ever the instance due to several factors like high top direction turnover and low leading dedication to quality. Another barrier to the successful execution of TQM is employee opposition which most times come from fright of alteration and deficiency of information. Fiscal resources are another major barrier to the successful execution of TQM as a batch financess are needed particularly to develop employees and pay advisers. Lack of human resources is another barrier to the successful execution of TQM chiefly because of high staff turnover. unequal degree of instruction and low staff morale. ( Al-Najjar. Jaward. 2011 )


Project direction institute ( 2008 ) a usher to the Project Management Body of Knowledge. 4th edition. International organisation for standardisation ( 2012 ) quality direction rules available at hypertext transfer protocol: //www. iso. org/iso/qmp_2012. pdf [ accessed Dec 6. 2012 ] Chattered quality institute ( 2012 ) . Entire quality direction available at hypertext transfer protocol: //www. thecqi. org/knowledge-HUB/Resources/Factsheets/Total-quality-management [ accessed Dec 10. 2012 ] Al-Najarr. Jaward ( 2011 ) ‘ISO 9001 execution barriers and misconceptions: an empirical study’ Vol. 2 No. 3 international diary of concern disposal [ online ] Available at hypertext transfer protocol: //www. sciedu. ca/journal/index. php/ijba/article/view/347 [ accessed on Dec 08. 2012 ]