Altex Corporation Case Study Essay

1.Why was a run a chance of exposure precaution visualize considered unnecessary? According to the hale confront, contracts at that time did non control that a bump counsel visualize be develop while fit to the sponsor the venture focusing externalize was not necessary because most of the upstart weapon systems requirements are established by military personnel who be possessed of no sense of reality around what it takes to develop a weapon system ground on technology which does not even off exist yet. According Kerzner, in the forward days of the ejection way on many commercial broadcasts, the majority of suffer decisions heavily favored cost and schedule.This was because we knew more than about cost and scheduling than we did about the technical exterminateangerments. But on the other(a) hand it is essential that designs correct and mechanism appropriate risk attention and accident excogitations to enhance course management effectivity and pr ovide chopine double-deckers a primeval tool to reduce biography round of drinks costs (Kerzner, 2009).2.Should risk management proviso be runed in the proposal salute or after the contract award assuming that it must be through? danger management is employed passim the programs life stave and should be developed earliest in the program from the very beginning and communicate continu completelyy throughout the program. Risk management is not a separate program function but occasion and share of the overall program meanning and management action. In order to be effective, the risk management process must be recognized as a program management activity, and not manything limited to the technology function. Any program element associated with cost, schedule, and executing has a direct interface with the risk management process. This process does not throw fundamentally as the program progresses, although some changes or adjustments might occur as the program progre ss (Kerzner, 2009).3.Does the client have the correctly to expect the avower to perform risk analysis and develop a risk management plan if it is not called out as part of the contractual statement of work? The node has the right to expect the contractor to perform risk analysis and develop a risk management plan as part of the project planning. An effective life make pass risk management process requires a commitment on the part of the program managing director and the program office to be successful.It is essential that Project manager define and implement an appropriate risk management and contingency plans. The clients expect the contractor to be the expert who knows what conveys to be through in any project and that is why he has been hired to do the jobs. Risk management leave behind enhance program effectiveness and provide program managers a key tool to reduce life cycle costs (Kerzner, 2009).5.How effective will the risk management plan be if developed by the project manager in seclusion? There is no way a project manager will have a risk management plan in seclusion. The effort being first, Risk management planning is the process of deciding how to approach and plan the risk management activities of the project.Secondly the process will complicate identifying the project charter, ongoing polices, current roles and responsibilities, and the project management plan and, the Risk Management Plan (RMP) scheme needs to be established early in the project and will need to be continually developed throughout the project life cycle. Project risks include business and contractual relationships, cost, funding, management, political, and schedule risks. otherwise risks are technical, production, and support risks. These entire give together risk management plan has to be part and parcel of the project planning (Kerzner, 2009).6.Should the customer be allowed to recruit in or assist the contractor in developing a risk management plan? Risk manageme nt requires early and continual involvement of all of the program team as head as outside help as appropriate. When we are trying to identify the risk we may get our results based on survey of the project and this will involves customer fully. We have to involve the customer since in any case there is a risk then it the risk management program that will support mount realistic cost, schedule, and performance objectives and identifies areas that require specific attention. If we dont involve the customer then that may lead to the customer loosing trust on our company and at the same time we will end up delivering a low flavour work (Kerzner, 2009).