Essays on Risk Mitigation

Abstract

ITPM (Information Technology Project Management) is an essential activity for any IT organization to succeed. Projects must be evaluated and ranked in order to be decided upon and prioritized effectively. Shortcomings exist and must be addressed using optimization tools and methods in order to ensure efficient execution. Project portfolio management, which is the management of all projects within IT, allows for comprehensive project management that can ensure organizational success. Many effective ITPM tools exist to assist in project execution that must be understood, evaluated, and utilized properly. These tools include Business Case documentation for each project to lay out ...

Introduction

The major proposed solutions towards controlling project risks are based upon a two-fold outlook framework i.e. the project’s uncertainty and the frequency of changes effective in the project’s lifecycle. Presumably, if a project has a relatively truncated level of uncertainty, a head-on, race-to-the-finish approach is most suitable, as only very little is expected to go wrong in the entirety of the project. The fast approach technique is preferred because it maximizes on the project’s present value, and consequently realizing the remunerations from the project as soon as is possible. Comparatively, established that a project runs an ...

According to the National Research Council, it is posited that any project can never be risk-proof, and efforts should be enforced to mitigate the same. In its 2005 publication titled The Owner's Role in Project Risk Management, it maintains that the amount of uncertainty in any given project is normally relatively high. Further, the adversity involved in some of the pertinent project risks can be so great such that it is literally impossible to design risk mitigation strategies at the planning stage of a project. In the case where a vendor is underperforming, there is the likelihood of occurrence ...

Risk is one of the major elements of the life to deal with. Everyone needs to deal with risks and there are no ways of avoiding risks in the real life. The risk can be explained as a potential that can result in gain or loss. The gain or loss is caused by any actions taken. The life continuously experiences risk at day to day activities. The number of accidents or cases that happens around us remind the consequences of risks. There are different types of risk that we do face. It can be described as financial risks, physical ...

Tele-Medicine in a Satellite Facility

Telemedicine is an old concept but new technology that enables a healthcare provider at one location to provide basic healthcare services such as diagnosis, intra-operative assistance, and medical consultation to patients, physicians or paramedical staff in a satellite or remote facility. Most researchers and scientist believe that there is no substitute for patient-doctor face to face interaction; however, telemedicine could be used to manage a few medical cases efficiently and remotely. In first prototype of telemedicine was introduced in the 1980’s in the form of slow-scan images, facsimile machine or telephone (Hsieh, & Hsu, 2012).The mode of communications ...

ABSTRACT

Risks and assumptions analysis play a pivotal role in success of a project. After the identification of all the possible risks, all risks need to be quantified though critically examining the degree of impact the risks would have one the outcome of the project and then prioritized. Economic analysis could be used as one of the tools for assessing and managing risks. The economic analysis of projects is carried out before actually investing in it and is conducted throughout the project analysis when necessary, that is, design and preparation phase, implementation phase and post evaluation phase of the project ...

Revised Documents

Work Breakdown Structure of Wedding The project of wedding include three main activities like invitations, food and bridal. The factors of invitations will include the activities, such as creating of guest list, printing of invitations, mailing of invitations, and waiting for RSVPs. On the other hand, food include the activities like finding of caterer, finalization of menu and catering the wedding. In addition, bridal activities include shopping of bridal’s dress and shoes, choosing the banquet, and tailoring and fitting. Work breakdown structure of the wedding provides an overview of the activities of the project that are needed to ...

Financial Institution Supervision: Insurance Companies

Introduction Insurance, in the simplest terms, means a transference of risk from the insured to the insurer. Around the world, individuals, families and businesses take advantage of the provisions of insurance so as to protect the possibilities of catastrophic losses that could occur due to loss of life or failure of a business. Over a period of time, the insurance industry has matured to throw up a multitude of products, and has grown into a multibillion-dollar industry. The management of risk is the key to the operations of the insurance industry. While insurance agencies have necessary internal checks and ...

Introduction

Risk management is important as it helps in taking a business through the risk identification process, risk assessment as well as risk resolution in ensuring that an enterprise becomes successful. When preparing a risk management plan, the first step to undertake is to identify the potential risks for the business. Understanding the scope of the potential risks helps in the development of realistic and cost effective strategies to be able to deal with the potential risk appropriately (Wu, Chen, & Olson, 2014). It is also essential to think broadly when considering the types of risks that can affect the business ...

Insurance Risk Mitigation: Case Study

Insurance Risk Mitigation: Case Study

People face different kinds of risks in their personal lives and in the communities where they live. Being aware of one’s level of risk exposure and taking concrete steps to mitigate the risks and associated liabilities can help people protect their lives and properties. Most risks are manageable and the resulting losses avoidable if the right measures are taken. From the case study, it is clear that Mr. Arkanfarkar and his family are exposed to several types of personal and commercial risks. This report presents a strategy for managing the personal exposures of ...

Introduction

The human resource management plays a critical role in managing human capital in the organization. Human resource manager must understand different aspect of human behavior that influences their output in the organization. An important aspect of the members of the organizations that human resource managers should be more attentive at is the culture. Employees of the organization come from diverse populations with different cultural and communication backgrounds. Culture has a significant impact on the values of each member of the society. Additionally, culture describes the relationship between behaviors and values demonstrated by employees in the organization (Anastacia, 2015). Professor ...

Assignment : Essay based on Chapter 5 of “Beggar thy neighbour”.

Assignment number

Assignment –A (1238 words) Essay-1 Question: The economic consequences of lending at compound interest resulted in loss of productive yield of the society. How finance dominated over economics and politics by using this concept of interest (Geisst 193)?

Introduction

The question given above poses a mandatory evaluation of the harmful impact of the compound interest based lending and consequent ease of loans for the people of America. The author, Charles Geisst, used the viewpoint of John Maynard Keynes to explain that the American society was so possessed by the idea of easily availing the loans using compounded ...

(a)The reason behind the collapse of One.Tel Company was not only a result of the cash crisis but also due poor corporate leadership and mismanagement of funds through reimbursements of top managers. The company lacked work ethics whereby the top managers misused available funds through bonuses and other allowances. This large telecommunication company suffered a collapse due to poor management. There lacked a culture of employee valuation, set policies and procedures of dealing with the company’s wealth. This led to misappropriation of funds whereby the top leaders credited their accounts with large bonuses valued at market shares rather than actual profits.

...

Introduction

Global warming and pollution has led companies to rethink their activities concerning green methods of production. Carbon dioxide emissions are the leading cause of global warming and the dangers of global warming have been documented for a long time. Governments have come up with restrictions on emissions, which have forced companies to re-think the way they do production. Quest carbon capture and storage project is one example of how companies are re-thinking their strategy and practice towards carbon emissions. This project is developed by Shell for its Athabasca oil sands project (AOSP) in Alberta. It is the first carbon capture ...

For the given pharmaceutical organization, the key objective of installing appropriate IT systems will be to deliver better services to the customer, keep the track records of the patients for increasing the efficiency of the operational activities, keeping the records of the stocks of all medications present in the shop, and maintaining the financial records of all the transactions that are carried out within the organization. This will help the organization to create a center of excellence for the patient care. With the help of this technology, it would be easy for the employees to carry out all the procedures ...

Introduction

In a classic financial world as predicted by Modigliani and Miller (M&M), the risk management should be irrelevant. When there are no information asymmetries, taxes or transaction cost involved, hedging will not add any value to a firm because shareholders or companies can diversify their portfolio in such a way that their overall risk will be totally hedged (Lin and Chang 2006). However, the real world is far from the Modigliani and Miller model. In practice, we see imperfections in the financial market. This imperfection may actually create a rationale to reduce the volatility of earnings for a firm through hedging.

Many empirical ...

Technological platforms should be systems created with accurate systems well defined to perform given tasks. The success of any system should be based on excellent protection from attacks from within and outside the company. However, despite the protection that the managers may try to instill to the company, there would be chances for more attack to the system. Therefore, there are exclusive needs to protect the system of an organization from excessive malicious attack. There is need for considering all necessary measures that could be useful in protecting the systems. All possible techniques need to be pursued. Every form ...

The topic of outsourcing in the business world has become a subject of substantial debate. This study will examine the outsourcing practice within the context of several scenarios with the goal of enabling a deeper understanding of the positive and detrimental elements of the method. Alongside the ability to assess relevant data will be the foundation upon which to build future decisions.

Within the realm of outsourcing, the practice of utilizing an external service provider for data carries a fundamental risk that must be addressed (Earl 1996). Within the modern technology driven world the ability to entrust a separate company with vital information ...

Postnote Briefing Paper

The Issue: To achieve balance between agricultural intensification associated with production of food and environmental protection.

Objective: Assess the implications of land sparing and agricultural intensification. Develop comprehensive strategy for land and biodiversity protection in the framework of two approaches outlined.

Executive Summary:

The current postnote briefing paper addresses the topical issue of biodiversity protection when effectuating agricultural activity in the UK. For the purposes of the current paper, a conceptual model demonstrating detailed structure of the paper was outlined. Two agricultural approaches were considered: land sparing and agricultural intensification. The two approaches were evaluated; potential costs and benefits of these approaches ...

- Individuals are important at NASA because they are the driving force. They are an important recourse because they design, build, modify, test, maintain spacecrafts and fly the spacecrafts. - Lessons learned program involves the use of information and knowledge gained from previous projects to prevent making the same mistakes again. Also involves considering great aspects that can be used for future projects. It promotes better project management because it helps mitigate risks and also increase efficiency. - Individual accountability in managing risks is important at NASA because it allows individuals to do their best at the ...

There has been an epidemic in computer security breaches in healthcare service organizations which has been rising more than 32% over the years. These cost an estimated 6.5 billion per year. Moreover, study conducted by the Ponemon Institute found that nearly 96 % of all the healthcare providers who participated in this study feel they have had at least one data breach earlier primarily due to employee sloppiness, including stolen computer devices (Premier Inc, 2014), third party errors, unintentional employee actions like:Nurses logging in with their passwords and leaving the system open and runningOfficials and Doctors displaying their password, * Fax ...

Project organization

The project organization type for development of this motorcycle must meet the required standards. The best type of project organization for developing this class of motorcycles is the functional organizational structure. This project will be managed under the current structure of the organization. It will suit the development of this motorcycle project since the components of the project will be executed by the functional units of this organization. After kicking off the project operations, each unit of the organization will be managed each the project component assigned (Hayman, 2011). In order to manufacture motorcycles of over 1100cc, this company ...

Introduction

Technology has become part of the major sections of the security of any facility. For example, a busy pharmacy in a shopping mall is unique and requires proper physical and logical access controls. The systems are required to protect the medication and funds located on the business. The system would also assist in the access of the personally identifiable information as well as the protected health data of the customers that exist in the system. The security may be installed through reliable as well as logical technological methods that would be essential to eliminate the risks that would be available. The ...

Return On Investment (ROI)This is the expected return under a normal network state.ROI (Gain by investing – Cost of investing)/ Cost of the InvestmentROI = ($40,000 - $25,700) / $25,700 * 100% = 55.64%Retina scanners This is a security technology that uses the iris scan technique, to scans for retina properties of desired individuals. It does this by scanning on unique eye properties such as the eye properties, and blood vessels, which are is registered on that particular device. It scans using light and is commonly used for identification and authentication purposes (Newman, 2010).Return on InvestmentAccess control device ...

Management

Security management is very essential for any given company‘s growth and expansion. The information technology managers are solely responsible for this because as it is the major form of communication in an industry. In security management, it is critical to analysis the business environment, needs of the company and the available defense mechanisms. In a business setting, the major problem is to determine the exposure and vulnerability of a business. Exposure and vulnerability in computer security can be achieved by conducting audits in computer security. It involves regular review of network administrator’s logs. Reviews of the current security patches ...

VW Group Strategy

Introduction Volkswagen (VW) is a global automotive industry based in Germany. The industry specializes in the manufacturing and distribution of vehicles in Germany and other parts of the world. With the current challenging business environment and the high competition in the automotive industry, VW group ought to come up with effective business strategies to make her succeed. The company composes of experienced employees that dedicate their time and efforts to produce unique products into the automobile market. VW Group has set a 2018 strategy aimed at positioning the company as a business leader among all automobile manufacturers globally (Volkswagen, 2014). The ...

Abu Dhabi Men’s College

Information Systems Security and Forensics Individual Case Study

Risk Management and its role in an organization 3

Risk management process 4 Information Security Risk Identification 4 Risk identification techniques 4 Information Security Risk Assessment: 5 Information security risk mitigation: 5 Information Security Risk Transfer: 5 Information security Risk Acceptance: 5 Information Security Risk Monitoring 6 3. Conclusion 6

Reference 6

- Introduction Risk management is, essentially, defined as the identification, analysis, acceptance and mitigation of uncertainty . The management of risks occurs any time a security manager analyses and identifies a potential threat to the security of information systems in the organization. Information ...

Abstract

This paper is on the topic of Finance resourcing for a new venture. The first section of the paper will analyze the performance of the organization on the basis of which they are seeking funding. The second section of the paper will discuss the short term and long term funding options with reasons of their selection. The third section will determine the funding requirement and how to utilize the generated by the company. The final section will recommend solution for risk mitigation with strategies to overcome them.

Introduction

Funding or Finance resourcing is the most important element in perpetual existence of ...

Abstract

In the current global environment, the emergence of technology and its availability throughout the world comes with significant advantages for the development of the business world, but also of the individuals’ life conditions. Technology creates an interdependency between the developed and developing or third world countries, in terms of request and demand for work force, which contributes to reducing the poverty levels and even the world hunger, due to business ventures such as outsourcing. While the rise of technology and communication allows for significant benefits for societies at a global level, it has also contributed to changing societies and the ...

Executive Summary

Enterprise Company is a rental car company thatprioritizes customer service and satisfaction in order to grow its profits. It operates in five countries. It offers a wide range of services to both its corporate and individual clients. The company has a sound management system and decision-making system. Its services are also geared towards environmental conservation with its fleet of environmentally friendly cars.It monitors customer satisfaction closely and use it as a basis of promoting its employees. Feedback that is obtained from its clients is used to improve the services of the company. The company also seeks to create value by being responsive to ...

The successful execution of the event plan is dependent on the teamwork and effort of the two event planners. The main roles identified in the event plan that should be delegated to an event planner are finding sponsors, risk mitigation, bookkeeping, marketing, event evaluation, and identifying artists and musicians for the event. There may be other smaller roles that will be delegated to each planner, but the responsibilities listed above are the integral ones to the event’s success. Manar will be responsible for identifying and activating sponsors. This responsibility shall encompass all steps involved from targeting a sponsor, ...

The following threats and vulnerabilities were identified as specific to the organization developing videogames. Attacks include malwares, worms, viruses Trojans/rootkits, spyware and adware in one category, phishing and spam messages in another category, Denial of service (DOS), web exploiting- Structured Query Injection (SQL) injection, Cross-Site Scripting (XSS)-XSS attacks uses non-sanitized or non-validated parameters to inject javascript or html codes into a running program. Vulnerabilities include accessibility of the database to the wrong persons through Data sniffing, leaked passwords, login details, security questions or personal data that is being used by developers (Weiss, 2010). The following are potential strategies for ...

Introduction

A tempestuous storm with force of winds up to 300 miles an hour is recognized as tornado. Shaped like a funnel, tornado appears to be a gray or black colored cloud moving towards the ground from its base of origin. An average tornado proceeds from southwest to northwest at a speed of 30-70 miles/hour but it can move into any direction or stay stationary in extremely rare cases. Tornadoes are sometimes accompanied by hurricanes. Tornadoes are atmospheric hazards that have the strength to uproot buildings and trees and turn them into deadly missiles within seconds. They are the most destructive natural hazards ...

Computer systems at Panther Industries should contain advance processor, Ram with high speed bus and large capacity hard disks. All systems should have high speed local area network card to ensure quickly access to network resources. Wi-Fi connection should be provided to employees in order to connect from mobile devices. VPN connection should be installed to allow access to data server from any remote location. Latest version of Microsoft Windows 7 is needed to be installed on all PCs. Windows Server 2008 should be installed on servers for the security and access control. Windows 7 have best security features. ...

Optimum Budget Allocation Method for Project with Critical Risk by Tomoichi Sato

Optimum Budget Allocation Method for Project with Critical Risk by Tomoichi Sato A project, irrespective of the field it is in has numerous constraints; the constraints are categorized using three criteria; budget, quality, and time (Bosworth, 1995, p. 46). The constraints of the project affect the outcome, with risks and threats associated with these constraints in the project’s cycle. This can be seen under various coverage of the project, for instance, in the execution phase, certain steps that may result with the project failing and/or decline of the quality standards associated with the approach on a specific project ...

Introduction

The main objective of this paper is to apply statistical techniques learned in the course. For the purposes of the current paper Bank of America was chosen. The Bank experienced hard times during mortgage crisis of 2007-2008. The statistical techniques proposed in this paper are earmarked for reduction of mortgage risk. An implementation plan for application chosen statistical technique was developed. Statistical technique will be applied according to timetable that was enclosed in the paper. Also, there were financial, human, technical, and other resources identified for the implementation plan. The implementation plan contains the information needed for application the ...

- DEFINITION FOR RISK MANAGEMENT

The term risk management refers to the process designed for identifying, assessing and prioritizing risks of different kinds. It is prudent to note that once the risk has been identified. The managing director of the project will have to create a plan in order to reduce or completely do away with the negative impacts which may be associated with the risk.

- OBJECTIVES OF RISK MANAGEMENT

The fundamental objective of the risk management is to protect the project from being exposed. It is designed to help keep the project viable and to reduce financial risks. It is also designed to protect the employees, customers and ...

A brief analysis of CIA Triangle, threat and vulnerabilities, risk mitigation and legislations

Information security and data integrity is one of the major difficulties facing organizations of any scale. One of the frameworks used in analyzing security related problems and solutions are the CIA Triangle. However the constantly evolving threat environment has necessitated a more robust and intellectual method, that can address short comings effectively. Security threats and vulnerabilities are a challenge for organizations, both going hand in hand, with each threat corresponding to a particular vulnerability. Cyber crime legislations provide legal support for organizations in their endeavor for their information security. Cyber crime legislation is however a relatively new and developing field, and countries have ...

Executive summary

Mcbride Financial Services Mortgage Company has an objective of offering a low cost mortgage services through incorporating the state-of-art technology. The most targeted locations are Idaho, Montana, Wyoming, North and Dakota. On the other hand, the company’s management has an aim of achieving high financial outcomes and developing more profitable services within the first six months of their business. For the company to achieve this objective they require to design a perfect management plan that will address all the issues in the company. In doing so, they have to make use of the present technology in carrying out various operations ...

Information security signifies information protection from aspects that result in modification, usage, access, and perusal without permission. The main principles of information security are non-repudiation, availability, integrity, confidential and authenticity. Similarly, risk management relates to information security and is referred to as evaluation, mitigation and assessment of risks. Risk management ensures that ICT supervisors can evaluate the costs of using protection measures in information management while achieving gains in a manner that supports the business goals. The paper explains the issue of information security and the main principles that are concerned with it. The issue of risk management and the ...

Risky Situations

Note three types of sensitive information involved with each situation. Then, note three ways each information item could be misused or harmed. For each of these, note at least one likely finding that you would include in a risk analysis report of the organization. Finally, answer the questions at the end of the table.

Situation 1 – Online Banking System

Information Affected Potential Harm (Risk) Likely Finding in Risk Analysis Report Customer details

Unauthorized access Terminal unauthorized access to customer account information and details.

Alteration of customer details Hackers gained unauthorized access and altered customer details and information

Copying of customer ...

Master of Business Administration

For decades, the encumbrance of evaluating the potential of organizational risks and exposures has been assumed insurance specialists both internal and external to the company. For instance, risk handling mechanisms particularly self-insurance and insurance have provided some degree of comfort to organizations that could be otherwise be incapable of withstanding financial impacts associated with disasters. Sadly, false confidence cases have led to multiple problems for small and big firms within the insurance industry. In order for companies to efficiently execute functions related to pre-incident risk assessment and find the at-need operational crisis directions, majority of firms have developed corporate ...