Risk Management on a Satellite Development Project

Risk Management on a Satellite Development Project

Read the attached case titled: “Risk Management on a Satellite Development Project”.

Write a six to eight (6-8) page paper in which you:

1. Suggest the issues that could have developed had the team not had a risk plan. Determine the major impacts of risk that the team needs to understand for the project to be successful.
2. Justify the value of risk plan considering the time, effort, cost, and resources it took to develop such a plan. If you were the project manager, recommend the approach that you would take to ensure the project met the critical path identified.
3. Assess how to determine the level of risk management appropriate for a project.
4. Imagine the team working on the satellite development project was a virtual team in which team members were unable to meet in person. Explain the expected impact on the project, and suggest two (2) ways the team could maintain its current goal in both planning and execution.
5. Use at least five (5) quality academic (peer-reviewed) resources in this assignment.

Your assignment must:

• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

• Estimate project costs and associated risks associated with each cost.
• Use technology and information resources to research issues in managing human resource projects.
• Write clearly and concisely about managing human resource projects using proper writing mechanics.

Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric.

Case Study 3: Risk Management on a Satellite Development Project

Criteria

Unacceptable

Below 70% F

Fair

70-79% C

Proficient

80-89% B

Exemplary

90-100% A

1. Suggest the issues that could have developed had the team not had a risk plan. Determine the major impacts of risk that the team needs to understand for the project to be successful.

Weight: 10%

Did not submit or incompletely suggested the issues that could have developed had the team not had a risk plan. Did not submit or incompletely determined the major impacts of risk that the team needs to understand for the project to be successful.

Partially suggested the issues that could have developed had the team not had a risk plan. Partially determined the major impacts of risk that the team needs to understand for the project to be successful.

Satisfactorily suggested the issues that could have developed had the team not had a risk plan. Satisfactorily determined the major impacts of risk that the team needs to understand for the project to be successful.

Thoroughly suggested the issues that could have developed had the team not had a risk plan. Thoroughly determined the major impacts of risk that the team needs to understand for the project to be successful.

2. Justify the value of risk plan considering the time, effort, cost, and resources it took to develop such a plan. If you were the project manager, recommend the approach that you would take to ensure the project met the critical path identified.
Weight: 20%

Did not submit or incompletely justified the value of a risk plan considering the time, effort, cost, and resources it took to develop such a plan. Did not submit or incompletely recommended the approach that you would take to ensure the project met the critical path identified, if you were the project manager.

Partially justified the value of a risk plan considering the time, effort, cost, and resources it took to develop such a plan. Partially recommended the approach that you would take to ensure the project met the critical path identified, if you were the project manager.

Satisfactorily justified the value of a risk plan considering the time, effort, cost, and resources it took to develop such a plan. Satisfactorily recommended the approach that you would take to ensure the project met the critical path identified, if you were the project manager.

Thoroughly justified the value of a risk plan considering the time, effort, cost, and resources it took to develop such a plan. Thoroughly recommended the approach that you would take to ensure the project met the critical path identified, if you were the project manager.

3. Assess how to determine the level of risk management appropriate for a project.

Weight: 25%

Did not submit or incompletely assessed how to determine the level of risk management appropriate for a project.

Partially assessed how to determine the level of risk management appropriate for a project.

Satisfactorily assessed how to determine the level of risk management appropriate for a project.

Thoroughly assessed how to determine the level of risk management appropriate for a project.

4. Explain the expected impact on the project, and suggest two (2) ways the team could maintain its current goal in both planning and execution.

Weight: 30%

Did not submit or incompletely explained the expected impact on the project, and suggested two(2) ways the team could maintain its current goal in both planning and execution.

Partially explained the expected impact on the project, and suggested two (2) ways the team could maintain its current goal in both planning and execution.

Satisfactorily explained the expected impact on the project, and suggested two (2) ways the team could maintain its current goal in both planning and execution.

Thoroughly explained the expected impact on the project, and suggested two (2) ways the team could maintain its current goal in both planning and execution.

5. Five (5) References

Weight: 5%

No references provided.

Does not meet the required number of references; some or all references poor quality choices.

Meets number of required references; all references high quality choices.

Exceeds number of required references; all references high quality choices.

6. Clarity and writing mechanics

Weight: 10%

More than 6 errors present

5-6 errors present

3-4 e

Answer Preview

If the project had been implemented without a clear risk management plan, there are high chances that the following issues would have come up. The first and the most common is the issue of over blowing the budget. This means that the project would have likely used more resources than it was initially allocated for. Second, the time used would have increased…