PROJECT MANAGEMENT PLAN
Project Management Plan Paper
Risk management is an integral part of project management. In the current economic scenario, companies have had to deal with numerous uncertainties dealing with unemployment, credit crunch, deflation, devaluation of assets, and political uncertainty. As a result, many of the projects within these companies inherit these uncertainties. A successful project manager should identify these uncertainties or otherwise “risks” and prepare an action plan for readiness to mitigate such risks. Companies like P&G have mastered the art of managing uncertainty through strategies like Environmental Risk Assessment (ERA). “Conducting Environmental Risk Assessments (ERA), for all products, is key to building P&G’s reputation as a good corporate citizen and maintaining a high level of public trust” (P&G, 2002, para. 1). In the scenario, the merger between ABI and FAFS is fraught with risks and the simulation presents a step-by-step approach to identify the risks, assess the risks, measure the risks, and create action plans to mitigate the risks.
The paper identifies the different phases of the project, sequence of execution of the phases, and type of activity required to complete the project. The paper also identifies modification to the strategy of weighing risk through the Failure Mode Analysis (FMEA). The paper goes a step ahead and identifies the set of financial and non-financial measures of project success. The paper also identifies the detailed and systematic procedure for closing the project in concurrence with all the stakeholders.
Management Responses Identification
The managing risk simulation presents a situation in which ABI and FAFS are in a merger stage. The project manager is to execute a project Integra to unify ABI’s service delivery network with that of FAFS and prepare the ground for the successful merger. However, from the scenario; during the planning of the project, database specialists are...