Altex Corporation Case Study

Running head: RISK MANAGEMENT 1

 

 

 

 

 

 

 

 

Risk management Process: Altex Corporation

Brandon Ellison

BUS 697

Dr. Shawn Milligan

 

 

 

 

 

 

 

 

– 1 –

1

2

1. where is your introduction?

[Shawn Milligan]

2. All assignments in this

class are academic papers

and should include

introduction, conclusions,

thesis statements, and

conceptual headers.

Academic papers allow you to

demonstrate that you can

write clearly and think

critically. Question and

Answer do not show these

skills. [Shawn Milligan]

 

 

RISK MANAGEMENT PROCESS 2

 

Why a risk management plan was considered unnecessary?

Risk management process can be considered unnecessary at times (Viscione, 2012).

Though, this is a bit risky as the process is very important in any project. The need for the risk

management process is to prevent the future risks that could affect this project. The risk

management process involves the identification, analyzing, the planning and the control of the

potential risks. The risk was considered unnecessary due to various reasons. One, it would be an

added cost to the organization that was not accounted for and two; it was not on the part of the

contractual statement of work.

Should risk management planning be performed in the proposal stage or after contract

award, assuming that it must be done?

Management plan is very important to the organization. It should be done on time so as to

ensure that the organization is well managed effectively. Risk management is central to the

issues o planning in the long run. We have reasons as to why this timing should be properly

timed. One, risk management is pro active. They should hence be performed in the proposal

rather than after the contract award. This is because they are more useful while performed at the

proposal stage rather and less useful while performed after the contract award (McMullen, 2013).

Managers should hence initiate risk management planning at the proposal stage for them to be

more useful to the organization.

Does the customer have the right to expect the contractor to perform risk analysis and

develop a risk management plan if it is not called out as part of the contractual statement

of work?

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78 9

10

11

1. Do the companies need to

ask for a risk management

proposal? I believe risk

management should be taken

into account when putting

together the bid. If you the

bidder does not know the

risks, how can they

adequately plan for how these

risks will affect their budget,

timeline, and scope? For

example, if you are building a

bridge, you will want to make

sure to include money for

traffic control personnel and

extra time and money for

weather related issues, this is

done at part of the risk

management plan. [Shawn

Milligan]

2. There are issues with your

paper that you should have

caught if you had read your

paper out loud or used

Natural Reader.

Natural Reader:

http://www.naturalreaders.co

m/ Natural Reader is a free

text-to-speech software.

Students are always amazed

(and often a bit horrified) at

the number of writing errors

they hear when the Natural

Reader reads their paper. Try

it, it really does work.

[Shawn Milligan]

3. on time

what is on time? When should

it be done? [Shawn Milligan]

4. o

wrong word [Shawn Milligan]

5. We

First person is allowed in APA

only when it is absolutely

necessary and it is not

absolutely necessary here.

This sentence could have

been written in the third

person. Understanding when

and how to use first person is

sometimes tricky. Here are

some sources for more

information: •

https://owl.english.purdue.edu

/owl/resource/560/15/ •

http://www.louis-hoffman-

virtualclassroom.com/psychol

ogy%20resources/writing%20

resources/first_person_apa_s

tyle.html •

http://www.typepad.com/servi

ces/trackback/6a01157041f4e

3970b0120a5b49ccc970c

[Shawn Milligan]

6. have reasons as to why this timing should be properly

this sentence does not say anything…. [Shawn Milligan]

7. They

Company Pronouns When referring to an entity (like a company, government

agency, or a country), use the pronouns “that” or “it.” Entities are not people,

so it is incorrect to use “who” or “they” or “their” when referring to them. If

using “it” and “that” sounds awkward rewrite the sentence and use the

entities name instead. For additional information see:

http://www.quickanddirtytips.com/education/grammar/is-it-%E2%80%9Ca-

company-who%E2%80%9D-or-%E2%80%9Ca-company-

that%E2%80%9D#sthash.5cX7HRH1.dpuf [Shawn Milligan]

8. timed.

Vary your word choice to avoid redundant words and phrases. [Shawn

Milligan]

9. active. They should

 

 

– 2 (cont) –

What is they? Vague pronoun reference. If you made sure the

reader knows what your pronouns (he, she, they, us, it) refer

to, your writing will be much clearer. For additional information

see: http://www.dummies.com/how-to/content/how-to-avoid-

vague-pronoun-references and

http://bcs.bedfordstmartins.com/everyday_writer/20errors/2.ht

ml [Shawn Milligan]

10. they

unclear [Shawn Milligan]

11. hence

try to avoid. you are overusing this word [Shawn Milligan]

 

 

RISK MANAGEMENT PROCESS 3

 

The customer has no right to expect the contractor to perform a risk management and

develop a risk management plan if it is not called out as part of the contractual statement of

work. It is always advisable to follow the opinions of one’s customers so as to make them happy

with the services that they are given. No one has them has the authority over the other, both the

employee and the customers (Viscione, 2012). Strategies of the project are defined early so as to

come up with the requirements of the job. It is also available for laying down the job breakdown

structure. This is hence the reason why the customer cannot demand for the contractor to perform

any kind of work as a risk analysis or management plan if it was not part of the contractual

statement.

Would Altex have been more interested in developing a risk management plan if the

project were funded entirely from within?

Yes, Altex should have been more interested top perform the risk management plan even

though the project would have been funded entirely from within. First of all, it is important to

note that the risk management process is very vital to an organization. It involves all the

strategies that are required in ensuring that there is risk identification, risk analysis and risk

mitigation. So, even if the process was funded from within, there is still the need to have a risk

management plan (McMullen, 2013).

How might the Army have responded if they were presented with a risk management plan

early during the R&D activities?

It might be difficult for the army’s if they were presented with a risk management plan

during the early stages of the R & D activities (Viscione, 2012). This is because; the whole

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3 4

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9

1. The customer has no

right to expect the

contractor to perform a risk

management and

develop a risk management

plan if it is not called out as

part of the contractual

statement of

work.

do not agree…. [Shawn

Milligan]

2. Do you feel ethics come

into this issue?…I certainly

do…. [Shawn Milligan]

3. It is always advisable to

follow the opinions of one’s

customers so as to make

them happy with the

services that they are

given.

ethical issue here – do not

agree in this instance.

[Shawn Milligan]

4. No one has them

This sentence is hard to

follow. How might you reword

it to make your point clear to

the reader? [Shawn Milligan]

5. Strategies of the project

are defined early so as to

come up with the

requirements of the job. It

is also available for laying

down the job breakdown

structure. This is hence the

reason why the customer

cannot demand for the

contractor to perform any

kind of work as a risk

analysis or management

plan if it was not part of the

contractual

statement.

unclear… And the customer

does have the right to expect

the contractor to do the job

they were hired to do. Lots of

ethic issues here you missed.

Needed more analysis.

[Shawn Milligan]

6. This is a possessive

apostrophe error. [Shawn

Milligan]

7. army’s

Capitalization error. [Shawn

Milligan]

8. they

it Company Pronouns When referring to an entity (like a company,

government agency, or a country), use the pronouns “that” or “it.” Entities are

not people, so it is incorrect to use “who” or “they” or “their” when referring to

them. If using “it” and “that” sounds awkward rewrite the sentence and use

the entities name instead. For additional information see:

http://www.quickanddirtytips.com/education/grammar/is-it-%E2%80%9Ca-

company-who%E2%80%9D-or-%E2%80%9Ca-company-

that%E2%80%9D#sthash.5cX7HRH1.dpuf [Shawn Milligan]

9. R & D activities

write out In American Psychological Association (APA) abbreviations should

only be used when the abbreviation is well known and will not interfere with

the reader’s understanding or when the term is used repeatedly in the paper.

The first time an abbreviation is used it needs to be identified with the

abbreviation. For example Project Management Maturity Model (PMMM). For

additional information on abbreviations see:

https://owl.english.purdue.edu/owl/resource/560/21/ [Shawn Milligan]

 

 

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RISK MANAGEMENT PROCESS 4

 

process is also complex in the long run. The risks might be so many and hence the army would

be confused. In the long run, why should they be exposed to situations like this and open a

Pandora’s Box for them?

Can risk management planning be justified on almost all programs and projects?

Yes, risk management planning can be justified necessary on most all projects. This is because

they are very necessary to the organization. It is through the risk management processes that the

managers are able to be protected so as to identify, plan, analyze and control all the risks that

could affect a project. It reduces the costs that could be incurred in the organization if the risk

management was not initiated (Viscione, 2012). It also raises the expectations of the organization

and managers since there are assured of lesser risks affecting the project (McMullen, 2013).

There is hence the importance of considering the risk management processes in almost all

projects.

 

 

 

 

 

 

 

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2

3

1. Yes,

APA does not use block style

paragraphs. The first

sentence for each paragraph

needs to be indented.

[Shawn Milligan]

2. they are very

it is unecessary [Shawn

Milligan]

3. Where is your conclusion?

All academic papers (actually,

discussion posts, speeches,

letters…) need to have both

an introduction and a

conclusion. Your conclusion

should serve to reestablish

your position on this topic and

your thesis and often mirrors

your introduction. Your

conclusion should not include

any new information. For

more information on how to

develop a proper conclusion

see:

https://owl.english.purdue.edu

/owl/resource/724/04/

[Shawn Milligan]

 

 

RISK MANAGEMENT PROCESS 5

 

References

McMullen, T. B. (2013). Introduction to the theory of risk management system. Boca Raton

[Florida: St. Lucie Press.

Viscione, J. A. (2012). How to construct an efficient program and project. New York, N.Y:

National Association of Credit Management.

 

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