You are the project manager of RFT project.
You have identified a risk that the enterprise's IT system and application landscape is so complex that, within a few years, extending capacity will become difficult and maintaining software will become very expensive.
To overcome this risk, the response adopted is re- architecture of the existing system and purchase of new integrated system.
In which of the following risk prioritization options would this case be categorized?
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A. B. C. D.C.
This is categorized as a Business case to be made because the project cost is very large.
The response to be implemented requires quite large investment.
Therefore it comes under business case to be made.
Incorrect Answers: A: It addresses costly risk response to a low risk.
But here the response is less costly than that of business case to be made.
B: Quick win is very effective and efficient response that addresses medium to high risk.
But in this the response does not require large investments.
D: This is not risk response prioritization option, instead it is a type of risk that happen with the several of the enterprise's business partners within a very short time frame.
The risk response adopted by the project manager of the RFT project is to re-architecture the existing system and purchase a new integrated system. This risk response is aimed at reducing the complexity of the IT system and application landscape to prevent future capacity issues and high maintenance costs.
In terms of risk prioritization options, this case can be categorized as "Business case to be made." This is because the risk response involves a significant investment in re-architecting and purchasing new integrated systems. As such, it will require a robust business case that justifies the investment to stakeholders such as senior management, the project sponsor, or the board of directors.
The business case should include a detailed analysis of the current IT system and application landscape, highlighting the risks associated with its complexity. It should also provide a clear justification for the re-architecture and purchase of a new integrated system, including the potential benefits, cost savings, and risks mitigated.
Additionally, the business case should include a detailed cost-benefit analysis to ensure that the investment in the new system is financially feasible and provides value to the organization. It should also include a timeline for implementation and a plan for managing the risks associated with the re-architecture and implementation of the new system.
Overall, the risk prioritization option of "Business case to be made" emphasizes the importance of carefully assessing and justifying the investment in a risk response, especially when it involves a significant financial investment and changes to the existing IT system and application landscape.