Altex Corporation Case Study Essay

1.Why was a essay anxiety intent considered spargon? According to the contract stage, contracts at that time did not require that a risk direction plan be develop while jibe to the sponsor the risk counseling plan was not necessary because most(prenominal) of the new weapon systems requirements are established by military strength who affirm no sense of reality about what it takes to develop a weapon system based on technology which does not redden exist yet. According Kerzner, in the earlier days of the render circumspection on many commercial computer programmes, the majority of project decisions heavily upgrade cost and archive.This was because we knew more about cost and scheduling than we did about the technological risks. But on the other hand it is essential that programs define and carry through appropriate risk management and hap plans to enhance program management effectiveness and win program managers a key tool to edit out life pedal costs (Kerzner, 2009).2.Should risk management formulation be performed in the proposal stage or after the contract award assuming that it must be through? insecurity management is employed passim the programs life motorbike and should be highly-developed early in the program from the very beginning and addressed continually throughout the program. Risk management is not a separate program function but bulge out and parcel of the overall program supply and management mold. In order to be effective, the risk management process must be recognized as a program management activity, and not something limited to the engineering function. Any program element associated with cost, schedule, and executing has a direct interface with the risk management process. This process does not change fundamentally as the program progresses, although some changes or adjustments world power occur as the program progress (Kerzner, 2009).3.Does the node have the by rights to expect the asseverator to perform risk analysis and develop a risk management plan if it is not called out as pop out of the contractual statement of work? The guest has the right to expect the contractor to perform risk analysis and develop a risk management plan as part of the project planning. An effective life cycle risk management process requires a commitment on the part of the program manager and the program office to be successful.It is essential that shake off manager define and implement an appropriate risk management and contingency plans. The customers expect the contractor to be the expert who knows what needs to be done in any project and that is why he has been hired to do the jobs. Risk management will enhance program effectiveness and provide program managers a key tool to reduce life cycle costs (Kerzner, 2009).5.How effective will the risk management plan be if developed by the project manager in seclusion? on that point is no way a project manager will have a risk management plan in seclusi on. The reason being first, Risk management planning is the process of deciding how to approach and plan the risk management activities of the project.Secondly the process will include identifying the project charter, current polices, current roles and responsibilities, and the project management plan and, the Risk solicitude Plan (RMP) strategy needs to be established early in the project and will need to be continually developed throughout the project life cycle. Project risks include business and contractual relationships, cost, funding, management, political, and schedule risks. Other risks are technical, production, and support risks. These entire put together risk management plan has to be part and parcel of the project planning (Kerzner, 2009).6.Should the customer be allowed to participate in or assist the contractor in developing a risk management plan? Risk management requires early and continual involvement of all of the program group as well as outside help as appropr iate. When we are trying to identify the risk we may get our results based on survey of the project and this will involves customer fully. We have to involve the customer since in any case there is a risk and so it the risk management program that will support setting earthy cost, schedule, and performance objectives and identifies areas that require special attention. If we dont involve the customer then that may lead to the customer loosing trust on our gild and at the same time we will end up delivering a low quality work (Kerzner, 2009).