Freightgram is a startup company specialized in online freight system. Its main product Freighty has been a great success and is endorsed by the major freight companies. It is a software that can be installed on a Tablet installed on all trucks’ dashboards. Truck drivers can use Freighty to find loads and navigate through the roads. Early this year, the company decided to make a major upgrade to the product and you were assigned as the project manager. The plan is to launch the new product by end of August, 2021, and the initial project budget was $108400. Since it started, you have developed all the planning documents and managed the project for 4months. The project was kicked off the first week of May. Below is the information abstracted from your planning documents. In late May, you reported to Aman that the project was mostly likely to be delayed due to the COVID-19 pandemic. Aman asked you to closely monitor the progress and provide him weekly status report, highlighting the actual delays. During June, you found that the vendors started delays in shipping needed devices due to the impacts to the global supply chains. In July, the project had missed a few major milestones since a few of your software developers got Covid and needed to quarantine and rest. In late July, on behalf of the sponsor, you called a meeting informing the major stakeholders that the project status was Red, and delay could not be avoided. In early August, the management team decided to delay the new product launch by 2 months. At the meeting, Manpreet, the Marketing Manager, asked for the progress of the real-time delivery feature. 

This is a feature that has been under development for two months but it wasn’t completed due to its complexity. Aman advised to outsource this part of the project to an Indian company located in Bangalore, India. Manpreet and Kim both agreed with this decision. Although outsourcing the development of this feature would not delay the project any longer but the cost of this development, which was not estimated in the earlier project budget will be increased by $6000. You also realized that this was not the only extra cost added to the project. Two more months will definitely add labour cost to the project. The good news is that no vendor has the intention to increase the devices price, and the marketing cost won’t be changed too. After the meeting, you took a deep breath and started updating several project documents, and wish that you can finish the project by end of October now.

There are 3 identified risks listed below. You need to come up with three (3) additional risks after management team meeting in late July. Calculate risk score and prioritize them based on their importance. You also need to come up with response strategies for these 6 risks. Make sure to use all four response strategies in your responses.

Identified risks:

• Parts Price Increase (Probability 40% and Impact 3 out of 5)
• Patent Lawsuit (Probability 20% and Impact 5 out of 5)
• Pandemic (Probability 80% and Impact 4 out of 5)

 

Transcribed Image Text:

1. Stakeholder Register Name Aman #123' 4 5 Aziz A Manpreet Jannifer Kim 2. Major Deliverables ID B C D Deliverable Software app Devices Promotion Licence 3. Budget Summary # Cost Item 1 Labour 2 Parts 3 4 Role Project Sponsor Marketing Manager R&D Manager Procurement Manager Media consultant Marketing Legal Fee Rate $50/Hour $80/Device Power/Influence Interest High High Medium Low $5,000/ $2000 High High Medium High agency Low Description All software codes that make Freighty functioning as designed. All costs are recorded as manhours. Integration of the new chip shipped from the qualified vendors. All costs are recorded as parts. Marketing plan and its execution. Actions to obtain license requirement by the law. Low Quantity/Hour Total 4 months 1600 hrs/month? 10,000 Devices ? 4 Month ? One time ? Support Neutral High Neutral Low Low Delivery date First week of Aug Mid July End of Aug Early May Accrual Monthly Bi-monthly End Beginning 1. Stakeholder Register Name Aman #123' 4 5 Aziz A Manpreet Jannifer Kim 2. Major Deliverables ID B C D Deliverable Software app Devices Promotion Licence 3. Budget Summary # Cost Item 1 Labour 2 Parts 3 4 Role Project Sponsor Marketing Manager R&D Manager Procurement Manager Media consultant Marketing Legal Fee Rate $50/Hour $80/Device Power/Influence Interest High High Medium Low $5,000/ $2000 High High Medium High agency Low Description All software codes that make Freighty functioning as designed. All costs are recorded as manhours. Integration of the new chip shipped from the qualified vendors. All costs are recorded as parts. Marketing plan and its execution. Actions to obtain license requirement by the law. Low Quantity/Hour Total 4 months 1600 hrs/month? 10,000 Devices ? 4 Month ? One time ? Support Neutral High Neutral Low Low Delivery date First week of Aug Mid July End of Aug Early May Accrual Monthly Bi-monthly End Beginning

Answer rating: 100% (QA)

ANSWER Additional Risks Software Bugs Probability 50 and Impact 4 out of 5 As the development team rushes to complete the software app there is a higher risk of introducing software bugs that may dela... View the full answer