Trying To Identify Mitigate Possible Risks â€Myassignmenthelp.Com

Question: Discuss About The Trying To Identify Mitigate Possible Risks? Answer: Introduction This risk management plan is for the Silicon Forest State Universitys ticketing system. Currently, the ticketing system plays an integral role in many departments. Though all departments are not in need of the ticketing system, the new solution is customized and installed at all levels. This has left many departments in jeopardy. Engineers are unable to blend with the ticketing systems features and platform. audit University Office is not prepared to change the system. Thus, they are trying to identify and mitigate all possible risks. Executive Summary Risk is an event that can have a negative impact on a project or system. At the Silicon Forest State University, risk can introduce performance, functional and technological challenges into the departments. According to the current scenario, there are marked differences between the back end and front end requirements at the Silicon Forest State University. The ticketing system is required for communicating requests, reports and issues. When departments are not able to use the ticketing systems efficiently, it would introduce a gap. There will be a prominent gap on how information is conveyed. This is a critical risk to the entire university. Background of case study At the moment, the ticketing system relies on two different operating systems. Few departments are used to UNIX and the others rely on Windows. Difference in operating systems can introduce a prominent gap. Engineers at different departments will not be able to send and receive messages seamlessly. They must engage in manual translation procedures. These procedures are resource and time consuming. In the long run, it would influence the overall productivity of the organization. With the use of two different platforms, the company is facing serious cost issues. The software licenses cost around 20,000 USD per year. This increases the need for open-source solutions. Manual translation has increased the business of lost or misinterpreted information too. Risk Identification No Risk Description Likelihood Impact 1 Cost Risk This includes the cost of maintaining the current ticketing system. The cost is as high as 20,000 USD. This will affect the overall productivity and investment in other areas (Tchankova, 2002) High High 2 Schedule Risk It would difficult for employees to exchange information in a timely fashion. High High 3 Performance Risk Employees must spend a considerable amount of time converting or translating messages between platforms. Employees must spend some time understanding messages that can have gaps (Froot, Scharfstein, Stein, 1993) High High 4 Governance Risk Management should be keen on maintaining the companys reputation. Communication with vendors can become a hassle if reports from the ticketing system are inaccurate or delayed. Medium Medium 5 Strategic risk There are serious issues with the choice of technologies. UNIX, Windows or Open Source are the current choices. It is difficult to find a technology that works for all (Rasmussen, 1997). High High 6 Legal Risk Different technologies come with regulatory and legal obligations. High High 7 Operational Risk Without proper flow of data and information, it will be difficult for basic operations to be executed within the organization. High High Risk Analysis No Threat/Vulnerability Source Description Threat Value 1 Information security Employees When information is subject to manual conversions, non-compliance issues can occur. Employees may deviate from the actual motive (Froot et al., 1993). High 2 Roles and Responsibilities Employees During information conversion, employees would deviate from their initial roles and responsibilities. With the use of open source or third party operating systems, the primary scope of employees would be deferred. Emails can reduce the impact or value of certain communications. The ticketing system adds more value to certain communications. High 3 Project Management Upper Management and Employees Without proper ticketing systems, it will be difficult to monitor bugs. Upper management should walk through emails and lengthy conversations for data. This can result in data inaccuracy (Aven, 2010). High 4 Information Security Employees Data will not be represented in its original form. It can lose its actual meanings. The use of emails can increase the risks of intrusion. Emails can be sent within and outside organization. There are fewer security measures to track the flow of data and its usage. High 5 Employee Role Employee As an employee leaves the organization, they can take emails forward. With an efficient ticketing system, data wouldnt leave or enter into the organizations information system. Now, there is room for data leakage. High Risk Response Plan No Risk Mitigation Step Description 1 Information Security Team Mailing lists are created. All emails would be circulated within employees in the mailing list. If a new employee joins the team, the mailing list would be updated. This is a method to prevent data leakage (de Landa Farias, Travassons Rocha, 2003). 2 Role and Responsibility The tickets are not communicated with everyone. If the department uses a different platform, the ticket would be assigned to a concerned employee. This prevents tickets from reaching all departments and reducing turnaround time (Reason, 1997). 3 Information Confidentiality of Emails would be used as a mode of communication. Every communication would be recorded. It would originate and end at know points. That ensures high information confidentiality. The risks of data leakage are eradicated (Purdy, 2010). Risk Mitigation It would take several months for the email communication solution and the risk response plan to be implemented. The effectiveness of this solution depends on how it is understood and accepted by the employees (Ahmed, Kayis Amornsawadwatana, 2007). Monitoring and Controlling Over a period of time, the upper management should make sure data flows accurately and seamlessly between departments. There should not be any gaps in communication. Meanwhile, the tickets must be assigned and closed property. The upper management should engage in daily scrums or Kanban project management strategies (Ahmed et al., 2007). These strategies help in understanding how many tickets were communicated, a quick summary of the tickets and its status. The scrums can happen in every department. Conclusion The current ticketing issue comes with a series of risks. These risks are associated with the accuracy and flow of information. It can affect the functionality of the organization. Thus, the above mentioned risks must be mitigated with the right plan and follow-up steps. They must be evaluated periodically too. References Tchankova, L. (2002). Risk identification basic stage in risk management. Environment Management and Health, 13(3), 290-297. Froot, K.A., Scharfstein, D.S. Stein, J.C. (1993). Risk management: coordinating corporate investment and financial policies. The Journal of Finance, 48, 16291658. doi:10.1111/j.1540-6261.1993.tb05123.x Rasmussen, J. (1997). Risk management in a dynamic society: a modelling problem. Safety Science, 27(2-3), 183-213 Aven, T. (2010). On some recent definitions and analysis frameworks for risk, vulnerability, and resilience. Risk Analysis, 31, 515-522 de Landa Farias, L., Travassons, G.H. Rocha, A.R. (2003). Managing organizational risk knowledge. Journal of Universal Computer Science, 9(7), 670-681 Reason, J. (1997). Managing the risks of organizational accidents (1st ed.). Farnham, U.K.: Ashgate Purdy, G. (2010). ISO 31000:2009Setting a new standard for risk management. Risk Analysis, 30(6) Ahmed, A., Kayis, B., Amornsawadwatana, S. (2007). A review of techniques for risk management in projects. Benchmarking: An International Journal, 14(1), 22-36