Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A project to integrate a new financial service application has been undertaken by a large banking institution. The new application will allow users to report

A project to integrate a new financial service application has been undertaken by a large banking institution. The new application will allow users to report on their financial health in real-time. This new application requires several connections between different database servers and a reporting service. In managing the project, a risk register has been completed. One of the risks associated with the project is that the reporting service could create deadlocks on the database taking it down for other services that clients are using. The likelihood of the risk occurring has been put at medium, and the impact of the risk has been estimated to cost around $50,000 per occurrence. The cost to mitigate the risk by installing a new database server is $250,000 and installing a new database server comes with additional uncalculated risks. The company culture is to take risks in order to increase the bottom line for each quarter. What should you do as the project manager in this situation? Answers A. Mitigate the risk by spending the money B. Hire a third-party company to manage the server and try to pass the risk off to them C. Purchase insurance against the risk D. Accept the risk

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Hospitality Marketing Management

Authors: Robert D Reid, David C Bojanic

4th Edition

0471476544, 9780471476542

More Books

Students also viewed these General Management questions