Risk Management Plan Essay Example | Topics and Well Written Essays - 1000 words - 1

Risk Management Plan - Essay ExampleAnother knowledge domain of concern is research and development process. There are of course many worrys, for example, the project whitethorn short be made obsolete by technical developments, or a change in druthers by consumers or a competitors new ideas the policy of the company could also change. Vast amounts of money may be spent on research and development but the projects provoke be later cancelled. This problem is closely connected with funding and lack of resources on further R & D (Marrison 2002).Staff changes can threaten the project and lead to information disclosure and lack of security issues. Staff is the key to wholly security measures and is the most vulnerable aspect of IT security issues. Most frauds require an operative in another governance or collusion with existing employees. Segregation of staff duties and accurate documentation of programs is essential. The strict control of operations is vital, especially where satel lite devices are connected to a central processor, allowing easy access to information. Physical determine security issues are connected with bomb threat, breaching of security barriers and lack of control and monitoring facilities (Frame 2002).As the necessitate of the organization change, managers can contract with external vendors to perform specialized services that the organization cannot perform internally. Still, in fall down cases vendors can deliver low quality spare parts and raw materials which create a happen for the project and schedule. It is important for the project management to agree all deliveries and specifications with vendors in order to avoid delays faults issues and delays. Suppliers should continually monitor product requirements, factory scheduling, and commitments of their customers against their own schedule to ensure that enough inventory will be available. Once these systems are in place