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Risk Management Plan

The risk management plan identifies four main risks for the Tyrell Corporation website rebuild project with a three month deadline: 1) lack of team cohesion, 2) unoriginal design ideas, 3) misinterpretation of data analytics, and 4) scope creep from stakeholders. The document prioritizes addressing lack of team cohesion first through establishing a mission statement and communication guidelines. Scope creep from stakeholders is the second priority risk, which will be managed by clear expectations and biweekly check-ins. Unoriginal design ideas and misinterpreted data analytics are also risks that will be mitigated by emphasizing bold creativity and cross-referencing results.

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Alyssa Azevedo
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90 views

Risk Management Plan

The risk management plan identifies four main risks for the Tyrell Corporation website rebuild project with a three month deadline: 1) lack of team cohesion, 2) unoriginal design ideas, 3) misinterpretation of data analytics, and 4) scope creep from stakeholders. The document prioritizes addressing lack of team cohesion first through establishing a mission statement and communication guidelines. Scope creep from stakeholders is the second priority risk, which will be managed by clear expectations and biweekly check-ins. Unoriginal design ideas and misinterpreted data analytics are also risks that will be mitigated by emphasizing bold creativity and cross-referencing results.

Uploaded by

Alyssa Azevedo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1

Risk Management Plan

Alyssa Azevedo

OGL: 421

Professor Rodgers

July 8th, 2022


2

Risks

The deadline of Tyrell Corporations website rebuild is three months. My forecasted risk

will stay the same. My initial risks were the lack of team cohesion, lack of original design ideas,

and wrong interpretation of data analytics. Additional risk may be introduced by the stakeholders

through scope creep. With the deadline of three months, there is not much room for error. All the

risk listed can negatively impact the development of a powerful functional appealing website.

Lack of team cohesion may occur, nearly in all applicable scenarios. The coding team may lack

camaraderie which may also influence how they work with the design, data, and sales team of

the project. Being in the digital age era, many ideas are overused and become fads quickly. The

design of the website would need the ability to cross generational barriers. That way the design

of the website does not detour anyone. By giving the user the ability to choose their cookies,

some people may turn off all cookies other than necessary. This would hinder the data analyst’s

ability to form a proper forecast of buying trends and plausible gained capital. By prioritizing

communication with stakeholders, scop creep may occur as any new ideas surface.

Solutions:

Lack of team cohesion -Having a strong mission statement may


allow the team to have a common goal.
According to Xendy Ong, “Team goals
also help allow employees evolve from
individual workers to a more effective
and synergic team, whilst allowing them
to have autonomy over their work.” (Ong
2021) I would not want to micromanage
the team. Yet, having a strong foundation
for issues to arise and the team to feel
confident in working through those
obstacles. According to PMBOK, the
project team may conduct a specialized
meeting dedicated to discussion of
identified risk, assessment of probability
and impacts”. (Project Management
3

Institute, Inc. 2017)


Unoriginal ideas relating to design -I would want to confirm that the hired web
designer is bold, and willing to create new
ideas. I want to allow as much creative
design that is possible, within the scope
guidelines of course. By meeting frequently
with the design artist and checking to see if
any infringement on copy rights isn’t
happening. It is imperative that the design
team meets with the coders/ development
team. To ensure that all designs are backed
by strong capabilities of code.
Misinterpretation of collected data -Finding a platform that would allow us to
check collected data would help confirm data
analyst findings. Also, if we were able to
have the sales team and data analyst meet and
test out possible sales techniques to see if the
sales would match the data and vice versa.
Scope creep with stakeholders As any project develops the stakeholders may
have new ideas that they would like to see
executed. Of course, I would want to
prioritize their vision for the finished project.
I would need to make communication
guidelines clear from the beginning. Meaning
there would not be room for last minute ideas
that are not attainable.
Action Plan:

1. Lack of Team Cohesion

2. Scope Creep with Stakeholders

3. Unoriginal Ideas Relating to Design

4. Misinterpretation of Collected Data

Lack of team cohesion would rank first. Even though I referenced the coding team having ill

team cohesion. Lack of team cohesion can happen anywhere within the project. Between

individual teams, the stakeholders, and the team with the project manager. Having the team align

with a mission statement would be critical to the project’s success. I would want to understand

how the individuals on the team are motivated so that I can connect with the team on a individual
4

level. Hoping that it would translate to the overall team morale. Having a strong plan of sequence

events may help the team feel some structure, even though the project could change

unexpectantly. My plan for team cohesion is preventative. Scope creep with the stakeholders of

the project would rank second. The best course of action would be to understand who the

stakeholders are of the project. Understanding their wants and visions of the project before it

starts. Also, to have check ins with the stakeholders that allow them to give constructive

feedback of the project’s progression. Two check ins before halfway point of the three months.

Even though the stakeholders will be able to give feedback technically at any point, after the

second check in no more requests can be made as it will be unattainable. Unoriginal ideas would

fall in third place. The digital era allows society to cling to certain fads. It allows much of society

to be pigeonholed into trends that are fleeting. My designer would need to have a bold creative

design that would overcome trendy styles. The designer would need to understand that “Rules

and trends are present in all creative fields, and they will always be capable of tempting you

away from the newer possibilities.” (Miller 2017) Yet, not turn people away from the various

generations that buy from Tyrell Corporation. As functionality and accessibility are imperative to

the website’s success. Lastly, misinterpretation of data. Since the realm of data is changing

quickly, there is a lot of room for error. There would need to be a way of cross referencing the

data found. Also, if the sales team works with the data analyst, they may be able to come up with

plausible cost to set the products at. Giving the items a trial period, then collecting the data and

understanding each path of buying trends.

References
5

Miller, X. (2017, September 8). Take risks. break the rules. Medium. Retrieved July 8, 2022,
from https://medium.com/attack-the-front/originality-requires-risk-taking-1a6f1bb8dbae 

Ong, X. (2021, January 26). The importance of team goal-setting and how to do so effectively.
Pigeonhole Live Blog. Retrieved July 8, 2022, from https://blog.pigeonholelive.com/the-
importance-of-team-goal-setting-and-how-to-do-so-effectively 

Project Management Institute, Inc. (2017). A guide to the Project Management Body of
Knowledge. 

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