Risk-Mitigation Options and Strategies

 Risk-Mitigation Options and Strategies

Instructions/Descriptions

options for Risk Mitigation

There are two discussions here that need to be responded to thoroughly. Responses must be on APA format 150+words 1-2 legitimate verifiable sources per response.

CIS5599 discussion 1 post responses.

 Risk-Mitigation Options and Strategies

Respond to the colleagues posts regarding:

“ITPM Best Practices” Please respond to the following:

• Explain how ITPM best practices can facilitate process change within an organization. Determine if ITPM would be used differently depending upon the industry in which it was used. Explain your answer.
• Evaluate the four risk-mitigation options and strategies. Give your opinion as to what circumstances would warrant each strategy.

KJs post states the following:

Explain how ITPM best practices can facilitate process change within an organization. Determine if ITPM would be used differently depending upon the industry in which it was used. Explain your answer.

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ITPM is increasingly recognized as a management discipline to improve returns on IT investments and overall align IT with the business. ITPM has become a critical component in the IT business lexicon (Lane). ITPM begins by identifying the business capabilities and/or business processes of the company and linking them to applications.

 Risk-Mitigation Options and Strategies

IT leaders can then clearly understand how each application supports business activities. The IT team can track costly redundant applications easily, when it is known that two or more applications support the same capability. ITPM can be used in all industries. It allows IT managers to rank each application and decide which application they want to invest in, eliminate or upgrade.

Lane, D. (2011). Chief Information Officers Body of Knowledge: People, Process, and Technol. John Wiley & Sons

Gomane, G. (2017, September 28). How ITPM and ITSM together create value for IT departments. Retrieved from https://community.mega.com/t5/Blog-EN-Business-IT/How-ITPM-and-ITSM-together-create-value-for-IT-departments/ba-p/14242

 Risk-Mitigation Options and Strategies

Evaluate the four risk-mitigation options and strategies. Give your opinion as to what circumstances would warrant each strategy.

The four stages of risk mitigation options and strategies are

Avoid the risk – In this step, action is taken to avoid any exposure to the risk. One way to avoid the risk will be the either cancel the project

• Transfer the risk – this step is when the risk is handed off to a willing third party. This can meet outsourcing some applications or services like payroll or using a contractor to manage the network or security.
• Mitigate the risk – In this step, actions are taken to fix or lower the risk. This may including purchasing equipment or services to help.
• Accept the risk – In this step, companies can use to accept the risk if it is low

CIS599 discussion 2 post responses.

Respond to the colleagues posts regarding:

“Project Costing and Business Continuity” Please respond to the following:

• Explain why any proposed process change requires cost estimating. In your opinion, determine whether or not cost estimating is a critical part of analyzing the feasibility of projects. Support your answer.
• Assess business continuity planning (BCP) as a process that adds business value.  Explain the correlation between business value and project cost estimation as they relate to BCP. List and support three business justifications for business value outweighing the possible cost estimation when considering BCP.

Risk-Mitigation Option

 Risk-Mitigation Options and Strategies

s and Strategies

RD’s post states the following:

“Project Costing and Business Continuity” Please respond to the following:

Explain why any proposed process change requires cost estimating. In your opinion, determine whether or not cost estimating is a critical part of analyzing the feasibility of projects. Support your answer.

Cost estimation plays a huge role in determining whether a project is feasible. Going into a project, the PM may request a ROM to determine if the project is worth getting further information. This ROM should be provided with assumptions on how the cost was determined.

The project cost estimate is then conducted to determine the budget and feasibility of the project. Cost estimates can be parametric (CoCoMo), analogic (Delphi, or expert judgment), WBS, top-down, bottom-up, or a combination of different techniques.

 Risk-Mitigation Options and Strategies

Cost estimation is a critical component of the project. Accurate cost estimates can help choose the vendor and plan the budget. A bad cost estimate can result in over/under budgeting, which can result in having too many resources or not enough.

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Assess business continuity planning (BCP) as a process that adds business value.  Explain the correlation between business value and project cost estimation as they relate to BCP. List and support three business justifications for business value outweighing the possible cost estimation when considering BCP.

Risk-Mitigation Options and Strategies

A CIO should play a major role in the Business continuity planning process as data is one of the most important aspects of an IT business. Data is equal to money. By conducting BCP, the organization can determine the value of the organization and put steps into place. “Measuring the business value of BCP is tricky.” (Lane, 2011)

 Risk-Mitigation Options and Strategies

Lane, D. (2011). Chief Information Officers Body of Knowledge: People, Process, and Technol. John Wiley & Sons.

 Risk-Mitigation Options and Strategies

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