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?

- 2 -

1

2

3

4 5 6

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