Risk _ Responses Analysis _ Management

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Risk _ Responses Analysis _ Management Powered By Docstoc

     Risk & Responses Analysis & Management

             Sri Lanka Institute of Information Technology
 Special Honors Degree of Bachelor of Science in Information Technology

                               April, 2011
   Technology risk:-
                     This is where the industry is exposed to dynamic changes in
communication; thereby new development of our invention will be exposed to expire in a
short time period than we expect.

                     Therefore the response strategy is expecting the dramatic changes in the
communication industry and develops more unique features to the system.

   Privacy risk:-
                     Our product will run by checking all the aspects of data which will be
critical to our client’s security safety, whereas data privacy. Hence when analyzing the data
by the system there is no comparison between encrypted data or non-encrypted data.
Therefore privacy will be questionable at this circumstance.

                     So with regard to the adverse impact of the system we develop system
self-checking through very important data and give instant feedback of checked data without
any human intervention. Thereby it prevents the space to bypass the important information to
others’ hand.

   Security risk:-
                     Data security is more essential to our clients. If our system will fail to
respond any security threats from outsiders such as hackers, unauthorized login, viruses etc.,
thereby it will create more severe impact to the security.

                     Therefore in our system we injected the security controls to the system
such as antivirus software, continuously monitoring the unauthorized user access by checking
the time each user log on to our system, hackers activities etc.

   Competitor risk:-
                     Competitors will be dominate our products if we are not quickly respond
to their activities also our product is not worthwhile if it is found by the other competitors.
                   As for the response to the above risk is to register our product and ensure
that this will not copied by others who are very keen respond to the industry changes.

   Expectation risk:-
                  This is where our client’s expectations are not meeting with what we
produce to them. In the other words clients are not satisfied with our product, therefore this
will create bigger impact on our product and our ultimate objective will not achieve.

                   Therefore detail analysis of the client’s requirement is the risk response
strategy for dealing with this kind of risk thereby identifying the client demands and meet
those demands at the project completion stage and test whether those requirements are
achieved at the post completion stage.

   Project timeline risk:-
                   This is where; we are not meeting the deadline of the product completion.
If we are not satisfied the client’s deadlines, our product is no longer worthwhile because the
client will not encourage buying the product.

                   Therefore to deal with these kinds of risks we are acquiring adequate time
and monitoring each stage of the completion of the product, which will achieve the client’s
objectives. Our bargaining power will be more significant when determining the time line of
product completion.

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