Lab 5- Beep Risk Register - MS Project

Overview: This lab is an extension of your Beep lab assignment where you will now explore Risk Management with Microsoft Project.

Preparation Steps:

A. Review the Lecture and pdf handout "Lecture-Microsoft Project Risk Register". B. Using your latest Beep Microsoft Project file create a realistic Risk Register that will present the following categories and output:

1. Risk - Provide a corresponding risk for each Work Package or task line item (minimum of 20).
2. Probability - Create a drop-down lookup table (1-5) as demonstrated in the lecture.
3. Impact - Determine (best-guess) the impact of this risk on your project.
4. Risk Level - Calculate the risk for each task using the formula Probability*Impact.
5. Position the items noted above next to Work Packages of your project so, upon opening Microsoft Project I will be able to immediately view your results.

BEEP ASSIGNMENT ANSWER FOR REFERENCE:

Project approach and solution:

Our approach in establishing the project plan for integrating 5G-connected vehicle technology with approaching traffic lights was to assure thorough coverage of all relevant activities and deliverables while considering the bigger picture of AV innovation. To provide a clear and well-organized framework for implementation, we divided the plan into six main phases or deliverables.

Explanation:

• The first phase, "Project Initiation," entails duties like holding project kick-off meetings, defining the project scope, and identifying key stakeholders. By creating specific goals and objectives, this phase lays the project's groundwork.
• The second phase, "Requirements Gathering and Analysis," the goal is to comprehend Beep's unique requirements and expectations, as well as the capabilities they would like to see in the 5G-connected vehicle technology. It entails tasks including compiling user needs, examining technological requirements, and carrying out feasibility studies.
• The third phase, "Design and Development." This stage involves setting up the cloud computing infrastructure, creating apps, integrating them with traffic lights, and putting real-time communication into practise. In order to guarantee the system's dependability and performance, it also includes rigorous testing and quality assurance procedures.
• The fourth phase, "Deployment and Integration," includes tasks associated to implementing the solution in a real-world setting. It entails activities including user training, data migration, system integration, and preliminary performance monitoring.
• The fifth phase, "Monitoring and Optimisation," is concerned with regularly assessing how well the 5G-connected car technology is working and making any necessary adjustments based on current information. In order to achieve maximum effectiveness, this phase involves tasks including system monitoring, performance analysis, and system fine-tuning.
• "Project Closure," the last phase, entails concluding the project by completing post-implementation reviews, recording lessons learned, and handing the system over to the operating teams. This stage makes sure the project is completed successfully and provides helpful information for subsequent projects.

Step 2/2

Risks and Mitigation:

While working on this project, we have identified a number of potential hazards and have created mitigation plans for them.

Explanation:

The difficulty of combining current traffic signals with 5G technology and guaranteeing flawless communication is one significant danger. To lessen this, we will work with seasoned technical specialists and carry out exhaustive testing at each level to find and prevent problems before they arise.

The potential for app development delays or unforeseen technological difficulties is another risk.

Explanation:

In order to solve this, we have allotted enough resources and established reasonable deadlines for each work. We will be able to spot any deviations from the plan and act right away if we monitor and track progress regularly.

Another crucial issue in this endeavour is data security.

Explanation:

We shall put in place strong security measures, such as encryption, access controls, and frequent security audits, to reduce the risk of data breaches or unauthorised access.

We also recognise the possibility of resistance from stakeholders or shifting demands.

Explanation:

We will create efficient channels of communication, host frequent stakeholder meetings, and actively manage expectations to address this. We will be able to adjust to changing needs while assuring project progress thanks to our agile strategy.

We are confident in our capacity to create a successful project that incorporates 5G-connected car technology and catapults Beep to the forefront of AV innovation by proactively tackling these risks and putting mitigation methods in place.

Final answer

We are certain that by using this technique and putting in place a thorough risk mitigation plan, our project plan will successfully integrate 5G connected vehicle technologies in line with Beep's goals. A well-executed and successful project conclusion is ensured by the planned project stages, realistic estimations, appropriate sequencing, resource allocation, and risk mitigation techniques.