Scenario:

Sam is the manager of the Trex cycling company. He recently held a meeting with a number of company stakeholders and identified the possibility of acquiring a line of Caltec mountain bikes for sale in the Trex cycling shops. He is aware that there are a number of risks associated with the acquisition which will need to be addressed in collaboration with the project managers.

Question 1

Identify three (3) steps that Sam might take as part of the risk analysis process.

Question 2

Simply develop the process of evaluating program risks which Sam might follow.

Question 3

Identify and provide details of four (4) risk treatment options which Sam might consider.

Scenario

Jane is the manager of the Virage hair and beauty company. They specialise in the development of various hair and beauty products for sale in retail stores. She has recently begun a program focussing on the differentiation of the Virage products and services from those of the competition. This has involved writing project descriptions emphasising the superior quality of the Virage products and delivering outstanding service to the retail stores. Gwen has been happy with the success of the program so far. However, she is aware that there are some risks associated with the product differentiation program.

Question 1

Identify and describe five (5) methods which Jane might use for the purpose of monitoring program risks.

Q3:Give three examples of remedial actions that may be authorised with impact analysis for the achievement of program objectives.

Scenario:

Peter is the manager of the Billatong bar and grill. He recently began a program for the purpose of increasing the popularity and encouraging customers to spend more. This has involved adding more meals to the menu, introducing special drinks offers, and providing existing customers with rewards for loyalty. Peter has been generally satisfied with the level of success achieved through the adoption of these strategies. However, some customer complaints have been made about the new meals, and the introduction of drinks offers has had a negative financial effect. Peter has used different controls for the purpose of addressing these negative aspects. However, there is still some risk associated with the program for the bar and grill.

Question 1

What is residual risk and how does it relate to the program which Peter has implemented for the Billatong bar and grill?