Risk Analysis and Matrix

Purpose of this Exercise

This activity provides you the opportunity to apply a risk analysis to a specific technology solution.  It directly supports the following course outcomes to enable you to:

·        

evaluate information systems and enterprise solutions to determine the best fit to enable the organization’s strategic outcomes

·         use information technology tools and techniques to support business intelligence gathering and decision making

·         apply information technology best practices and methodologies to create information technology solutions

Assignment

Using the Case Study and the IT solution proposed (see attached file named: CaseStudyStage_1) complete the risk analysis matrix (last page of attached document). 

 

1.    
Briefly describe your proposed IT solution. 

 

2.    
Complete the Risk Matrix below:, describing for each Area of Risk:

 

a.    
Explain each are of risk and describe how that area applies to your proposed IT solution for the Case Study,

 

b.    
the probability (High/Medium/Low) of its occurrence,

 

c.    
impact (High/Medium/Low) on the organization if it does occur and

 

d.    
a strategy to mitigate the risk. 

 

The paper should be 2-3 pages in length, providing a brief description in a paragraph followed by the matrix table provided, that you may copy/paste into your file and then complete.  Do not limit yourself to the space shown in  the table, but provide complete answers for “Description” and “Strategy for Mitigation.” 

2

>interoffice memorandum

to:	Rock Martin, ceo, er umuc inc.
from:	Janelle V Chapman, director of it
subject:	Analysis of business envirnoment & it recommendations
date:	March 31, 2013
cc:	professor moore parker

This memorandum aims at refining the Sales Support sector of ER UMUC Inc., by addressing key issues affecting this entity following the recent acquisition of CarbonTech and MyRentals. An analysis has been evaluated based on the company’s existing system and procedures. In order to convey more uniformity between all three divisions, updates into its operations, backup solutions, training, and information storage practices are necessary in an effort to enhance productivity and customer relations.

Challenge/Opportunity Area for ER UMUC Inc.

ER UMUC Inc. has impeccable regional sales representatives which is evident through an extensive network of community contacts acquired over the last couple of years. However, the company is faced with the challenge of improving methods in which the sales team stores its information. Currently, company information is being stored in various formats, hindering potential advancements made on behalf of the company. In addition, there is currently no system backup available of the important information stored by the sales representatives. Company information should be streamlined into one synchronized format, backed-up regularly and accessible by all applicable personnel. The most effective way to achieve this is to implement the adaptation of a common information storage system and format.

Apart from the issues of information storage and system backups, there is much needed improvement in the area of staff training. Although employees receive training, the training processes need to be sharper in their approach. In addition, consumers’ interest in the option of leasing shelters rather than purchasing them out-right has increased.

Recommendations

Based on the study, the following recommendations should be considered:

a) Dedicated Server: There should be dedicated servers installed for the storing of information entered by the sales representatives. In an effort to make all entries uniformed, a detailed procedure and/or query database established for storing information should be developed.

b) Outsource Training: ER UMUC, Inc. should outsource training resources so to offer an overall enhanced training experience, gain access to practical and technical proficiency, and greater efficiencies on the part of the staff. Outsource training is also a cost effective method of ensuring staff get trained faster and learn more under the direction of a specialist with a proficient expertise in the field of sales/customer service (Training and Development.Naukrihub.com, 2012).

c) Additional Sale Option: In response to customer inquiries, the company should offer renting shelters in addition to purchasing. Doing so will increase revenue, and customer relations.

Proposed IT Solution

ER UMUC Inc., should commission the acquisition of a technology based information management system that will capture all business related information for the sake of maintaining positive customer relations, integrity, and future growth. Dedicated servers for the purposes of housing a database of all client data and other pertinent information can be shared among the sales representatives. Thus making it possible to handle a wider selection of clients and providing personalized service suitable to their needs. Additionally, these servers should also run on a scheduled back-up plan to ensure optical effectiveness in the event of a system failure.

Solution Fit to Challenge/Opportunity

This strategy will help the company to get control over the valuable information that has so far been available to the company in different formats and locations. Looking forward, controlled access can also be shared with the other subsidiaries (CarbonTech and MyRentals), bringing more uniformity into all three operations which eventually will improve the volume of sales across the board.

References

Training and Development.Naukrihub.Com. Retrieved March 29, 2013, from

http://traininganddevelopment.naukrihub.com/benefits-of-outsourcing.html

Risk Analysis

1. Brief Description of Proposed IT Solution as it relates to the Case Study:

2. Risk Matrix

Area of Risk

Description

Probability of Occurrence

Impact

of Occurrence

Strategy for Mitigation

1. Strategic

2. Business

3. Feasibility

4. Capability to Manage Investment

5

. Organization and Change Management

6. Dependencies and Interoperability

7. Security

8. Privacy

9. Project Resources

10. Schedule

11. Initial Cost

12. Life Cycle Cost

13. Technical Obsolescence

14. Technology Environment

15. Reliability of Systems

16. Data and Information

17. Overall Risk of Investment Failure

5

2