IT Risk Management Case Study of Social Media Research Centre

Question: Discuss about theIT Risk Management in Social Media Research Centre. Answer: Project Objectives The initial objective of the project is to develop a website for the social media Research centre by considering the basic needed of the consumers. In order to manage large scale data accurately the organization has developed this advanced approach. Before the implementation of the website the project manger and the finance manager of the business organization is required to make a feasibility study to develop budget estimation. After estimating the budget properly the project manager will be able to divide the job roles and tasks properly among the project team members. In the initial stage of development he project manager is required to set the project objective. Considering the type of the project the objectives are developed these are as follows: To develop a website based application system for the Social Media Research Centre To reduce the data management related risks To manage the current and old data regarding the research papers of the masters students and of the PhD students. To store the details of the publications accurately To develop such an application which could be accessed easily by the project team members and by the clients whenever required To get the updated data recorded within the system To complete the task appropriately within the allotted time phase that is within 8 months and the estimated budget of the project is AUD 50000.00 After analyzing the overall state and features of the budget it has been found that the if the project is completed successfully within the time period than due to its advanced data management capability it will be able to deliver a proper data management system to the consumers. With the help of the system the users will be able to access data from the server whenever needed. Apart from this, the server can be accessed regardless of the time and location of the users. The system is again secured enough because it holds an appropriate login approach. Where, the unauthorized rather unauthenticated or non-registered users will not be able to access data from the server. Mainly for promoting the application over the internet and to grab large number of consumer social media is also helpful for this project. MOV - Measurable Organisational Value After considering the measurable value of the social media research centre it has been found that, in order to promote both the operational and the functional excellence of the website based application system is one of the necessary application that is required to develop by the organizations. The implementation also implies that the users will be able to access the publication details and details of the research paper of the masters and PhD students from the server easily and securely. In order to develop a successful project the overall cut off budget is needed to be cheaper. Identification of the desired area of impact Area of impact Ranking of the impacts Strategic impact high Impact of the Consumers Medium Financial impact Low Operational impact High Social impact High Identification of the type of values in the web based application systems Better: The website that has been developed by the social media research centre is needed to be very much efficient and user friendly so that the users could access data from the server very fast without any error. Faster: the system is required to be faster in order to make the system faster than the traditional one the project manager is required to add up certain advanced technologies to the system. A faster system is always found to be enough beneficial and user focused. Cheaper: The overall budget of the project must not exceed the estimated project budget. In the project initiation phase the project budget is required to be allotted. If the overall cut off cost of the project is found to be cheaper than others then with increasing time more technical advancement could be added to it efficiently. It will help to reduce the overall financial burden. Do more: In order satisfy the consumers the project manager should consider certain additional technical excellences to the system such as social media promotion. Development of an appropriate stakeholders metric Stakeholder name Expectation Project manager To complete the project within 8 months in AUD 50000.00 Finance manager To complete the project is AUD 50000.00 and should also focus on the resources so that could not exceed the estimation. Application manager Expects to get the operations accurately. Programming manager To complete the project, considering all the social aspects accurately. Acceptance Criteria It has been analyzed that after successful completion of the project the project must deliver the expected outcome of the consumers. The project should be completed within the allotted time phase and the budget must not exceed AUD 50000.00. Only the required resources should be considered rather the unnecessary resources are required to eliminate from the resource list after development of the project it must be validated and verified by the project testers professionally. Apart from this, each and every components of the project are required to be approved by the project manager officially. Assumptions and Constraints Before initiating the project the project budget, the members of the project management team and the sponsors of the project are needed to be assumed by the project manager. It has been assumed that in order to complete the project, the budget is AUD 50000.00 and from the schedule it is found that the project could be completed in 8 months. Different constraints that entail the project limitation Triple constraints have been considered for this project these are the cost, time schedule and scope of the project. Te project is required to be completed. The main limitation of the project is the consideration of the hardware and software. In order to develop the web-based application system the resources and both the functional and non-functional requirements cannot be determined in the inittail phase. StakeholderList Name of the stakeholders Roles and responsibility of the stakeholders Project sponsor (Please fill) Responsible to chose the sponsors for the project completion. Project manager (Please fill) The role of the project manager is to control and monitor the entire progress of the project. David Wright (Executive officer) The Executive officer is responsible to select the project manager and the project sponsor at the same time. Sonia Reed (Application manager) Responsible to monitor the application of the website based application system Bruce (Programming manager) For developing the system proper codes and needed to be developed byte project development team members and the system verification and validation is needed to be done by the programming manager Finance manager (Please fill) The finance manager should make the budget estimation. Lessons Learned From the overall discussion it has been learned that, after the successful completion of the project the clients of the projects will be able to access all the required data such as the publication details and other research papers details. The system is very much secured due to the presence of the login approach. Due t this reason one of the external users will be able to access data from the server. The other users of the server could also connect themselves to retrieve information from the server. It has been also learned that the rate of data availability is also increasing rapidly after the implementation of the Web-based application system. Charter Sign off Stakeholder name Signature of the stakeholder Executive officer David Wright Project sponsor Please fill Programming manager Bruce Application manager Sonia Reed International expert Craig Bamworth Preparation of a project communication plan Purpose of communication planning In order to avoid the rate of intra-organizational conflict and to share the view point of all the members of the project team along with the project manager mainly the communication plan is developed by the project manager. With the help of the open communication the project manager and the other members of the project team will be able to communicate to each other efficiently. Again the communication plan will help to divide the roles and responsibility of all the members of the project team to reduce the overall work burden. Thus, it can be said that the main objective of the communication plan is to make the system more efficient. Identification of stakeholders Information to be shared Frequency of information exchange Location of information exchange Purpose of communication Mechanism for communication Project sponsor The project sponsor should share the budget oriented information with the Project manager. Again the sponsor should also share the information of web application based system requirements to the management authority. Weekly Conference room To reduce the issues that might occur regarding the project budget. physical meeting Project manager The project manager should share the shared goal and objective of the project along with the project team members. Daily Meeting room To develop a web-based application system for social media research centre. physical meeting and email Finance manager The finance manager should share the financial details along with the project manager and with the project team member and also with the project team members Monthly Meeting hall For reducing the financial issues Phone calls and emails Project clients The requirement of the project is whether satisfactory to the clients or not is demonstrated by the clients through email and meetings to the project manager and to the executive also. Weekly Meeting hall For understanding the requirement of the consumers the communication is done. Email and phone calls Executive officer The goal of the project is shared by the executive officer to the project manager and to the members also Weekly Conference room In order to administrate the project operation and functionalities, the project executive officer is required to communicate along with the project team members and to the project manager very frequently. physical meeting and emails Application manager The application manager is required to deliver the system accurately and must share the requirement along with the project team members Monthly Meeting room Email Operation manager In order to manage the operation accurately the operation manager should share the information about the functions and operations to the Project manager. Weekly Conference room and video conference To reduce the rate of error in the operational and functional management system. Emails and physical meeting Programming manager The programming and the applications are required to be shared to the project manager and to the project development team and also along with the project sponsors. Monthly Meeting room and video conference To diminish the programming error from the system Emails and physical meeting Change management While reviewing the website application system that has been developed by the research centre it has been found that the developed application system is secured and efficient enough. In order to evaluate the system the operational and the functional excellences those are used are also very much user friendly. However, in order to improve the existing system the project manager should incorporate the social media application system for promoting the system appropriately. Again, in order to grab large number of consumers a feedback rather invoice application is required to be adapted in the change management system. Another change that is required to be conducted is the radical change implementation. Reason for Meeting Meeting Objectives Project planning For developing a project for the Social media Research Centre the meeting is required to be conducted among the project manager and the project team members Risk management planning For identifying, analysing and for mitigation the system risks this meeting is needed to be conducted. Strategy development In order to gain commercial benefit from the competitive marketplace this meeting is necessary. Bibliography Chih, Y. Y., Zwikael, O. (2015). Project benefit management: A conceptual framework of target benefit formulation.International Journal of Project Management,33(2), 352-362. Dwivedula, R., Bredillet, C. N., Mller, R. (2015). The relation between work motivation and project management success in case of temporary organizations: theoretical lenses. Gido, J., Clements, J. (2014).Successful project management. Nelson Education. Gollenia, L. A. 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