Risk Management Development of Business Framework

Question: Discuss about the Risk Management for Development of Business Framework. Answer: Introduction The project is based on development of the framework for the quality team to manage the risks at the Rajiv Gandhi International Airport. Therefore, this project provides suggestions to control the situation. The airport is facing many problems regarding managing their risks in the service area. Project Assignments Scope The aim of the project is to identify the risks in the international airport regarding regular uncertainty. The risk can be reduced with developing a proper risk management plan for the unit and then the team have to work according to that. Project Background The project is based on the Rajiv Gandhi International Airport, which is an international airport. The airport is dealing the flights of domestic as well as international locations and the passengers can face various problems regarding risks in the area. Therefore, the project has been chosen on the topic of managing risks to develop the project. Project Information Project Title Rajiv Gandhi International Airport Project Owner GMR Hyderabad International Airport Ltd (GHIAL) Estimated Budget 18 million AUD Estimated Duration (Months/Weeks) X months Key Stakeholders Team A, Rajiv Gandhi International Airport Case Project Scope The project has following scopes Project charter, stakeholders register, team member register, project management plan, project management schedules, Activity list, Milestone list that the project is aiming to, the team schedule chart, project calendar, cost baseline and budget planner, risk management plan with risk register. Objectives for Team Some objectives are set for the team to execute this project. These objectives are The team members have to work very carefully to complete their work on time. This will help them to submit the project report within time The team members have to maintain a good communication between them to complete the work with proficiency Every team members have to come with a new and innovative idea to make the project more effective The team has to arrange meetings and conferences to communicate with each other and have to build a team commitment Every team member should maintain the working ethics and show respect to each other to avoid any kind of mismanagement Assumptions and Constraints The project has set a few assumptions for the project completion. In the way there are many constraints had to face by them. These are following Assumptions: The project should be completed within estimated deadline. Sufficient human resource is needed for the completion of the project. The information will be used from authentic sources. Communication technologies are used within the team. Ample of scope and objectives are there, which are feasible and real. Constraints: The team will be facing some problems regarding completion of the project. Therefore, they have to identify the constraints in their path. These are - Limitation of the resources for the project Restriction in the time and budget of the project Selection of the software and technologies to be used for the project purpose The lack of skill in human resources for the project Governance Project Team Members The project consists of some members in the team. The members are Name 1, Name 2, Name 3, and Name 4. Project Plan Work breakdown Structure Human Resource Role of the member Planned working breakdown 1. No name 1 Diverse work responsibility 150 2. No name 2 Diverse work responsibility 200 3. No name 3 Diverse work responsibility 250 4. No name 4 Diverse work responsibility 100 Roles and Responsibilities In this project, the team members are bestowed with different roles and responsibilities. They have to execute their responsibilities according to their role in the project. The project head of this is the Project Director and the Project Manager under whom the other members play their respective roles. In this project, there are members of Project Coordinator, Project proofreader, Project Quality Manager, Project complete finisher, and Project resource investigator. Their roles of these members are Project Coordinator The main responsibility of a project coordinator is to inform all the progress about the project to the Project Director and Project Manager. Along with this, the project coordinator has to organise the whole project activities, control the activities regarding the project and try to give suggestions to the members to make the project more developed. Project Proof Reader The role of the Project Proof Reader is very important at the time of delivering the papers and documents for the report. The documents have to check properly before delivering anything or in the time of handover specific ideas. Therefore, the proof reader have to check the grammatical errors, spelling mistakes etc to avoid any kind of misguidance in future. Project Quality Assurance Manager The role of the Project Quality Assurance Manager is to verify the documents after checking by the proof reader of the project. The main role, that a Project Quality Assurance Manager has to play, is to check the formatting style and all the required elements. The project is covering all the requirements within time are maintained by this member. Project Complete Finisher As a Project Complete Finisher, the member has to observe the activities of the team. The main motto of this member is to pay attention to every smallest detail and have to make sure that the project is covering all the requirements without any mistake. Along with this, the Project Complete Finisher has to finish all the works within considered time. Project Resource Investigator The responsibility of making the team is the main role of this member. Along with this, the member has to search for the regular contacts and then have to develop the contact details. This will help the team to make resources for the project. Therefore, making the team is the foremost responsibility for a Project Resource Investigator. The member has to identify the valuable stakeholders for the project. Project Communication Plan The project will be introduced in the team for the execution. The members will use the communication tools such as, Skype, face-to-face meeting, interview, telephone conversation, video conferences, emails, face book etc. Among these communication systems, which are available for the project, will be used as the modes of communication.. Risk Management Plan The various risks for the project, which the members will be facing in the airport, are following They have given a very short deadline for submitting the project They have a very limited information about the project topic that can be accessible for them The lack of proper team spirit and communication is creating the risk for the project The members can misunderstand the assignment and they can mistake to understand the proper project The team members can lack the commitment within the team then the project can face problem regarding this. Risk Reduction Plan The project also suggesting some risk reducing plans for the team, such as, As there are lots of information are not accessible therefore, the team members has to depend on the assumptions In the case of communication skill, the members can use the various social networking system like, email, face book, twitter, Skype, viber etc. The team has to be monitored frequently to understand the problems regarding the team members and therefore, they can improve the performances of the members as well as the project Quality Management Plan (for the team) The project have generated some quality management plan or the team, those are following The ethics and responsibilities have to be strictly followed by the team members in the team. They need to involve in teamwork with good communication, excellent outcome of ideas etc. The selection of the team and team members should be very carefully. If the members are highly qualified and efficient in working the project, then automatically the quality will be increased. Time Management Plan Activities Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Week 9 Week 10 Forming the team for the project Research and development of the project topic with work plan schedule Cconfirming the subject and then start working on the project Finalise the project topic Aims for gathering the data and information Project Risk management and risk responses Submission Viva Table: Time Schedule (Source: Created by Author)