PRINCE2 Risk Management Overview

<p>McKinsey’s 7S Framework (D)</p> Signup and view all the answers

<p>Diverse types such as depots and arsenals (A)</p> Signup and view all the answers

<p>To define procedures for risk identification and management (C)</p> Signup and view all the answers

<p>Document (B)</p> Signup and view all the answers

<p>Impact on project objectives (A)</p> Signup and view all the answers

<p>Project Initiation (A)</p> Signup and view all the answers

<p>Proximity (B)</p> Signup and view all the answers

<p>Risk Owner (B)</p> Signup and view all the answers

<p>Budget Report (D)</p> Signup and view all the answers

<p>Accept (A)</p> Signup and view all the answers

<p>Explaining the rationale for the new system (A)</p> Signup and view all the answers

<p>They guard operational norms and are viewed as experts (D)</p> Signup and view all the answers

<p>By managing resistance carefully and involving users (D)</p> Signup and view all the answers

<p>System owners and stakeholders at operational locations (C)</p> Signup and view all the answers

<p>Appointing senior managers as system sponsors or champions (B)</p> Signup and view all the answers

<p>It increases user engagement and buy-in for the system (D)</p> Signup and view all the answers

<p>Managing the effects of change on culture and systems (C)</p> Signup and view all the answers

<p>Resistance is an opportunity for improvement and needs careful management (C)</p> Signup and view all the answers

<p>Create a climate for change (C)</p> Signup and view all the answers

<p>Satisfaction (C)</p> Signup and view all the answers

<p>To strengthen change and build support (A)</p> Signup and view all the answers

<p>Core values of the organization (C)</p> Signup and view all the answers

<p>Communicate the vision (A)</p> Signup and view all the answers

<p>Processes and procedures in place (C)</p> Signup and view all the answers

<p>Improving financial incentives (A)</p> Signup and view all the answers

<p>Not enough time was allowed for proper system development. (A)</p> Signup and view all the answers

<p>Inaccurate power supply updates resulting in mechanical failures. (D)</p> Signup and view all the answers

<p>Infrastructure was created for a much smaller system. (D)</p> Signup and view all the answers

<p>Projection (C)</p> Signup and view all the answers

<p>16 months (A)</p> Signup and view all the answers

<p>Conducting training in isolation (A)</p> Signup and view all the answers

<p>Optical sensors for barcode reading. (C)</p> Signup and view all the answers

<p>$1 million daily cost to taxpayers (A), $500 million loss (D)</p> Signup and view all the answers

<p>Encourage open feedback (D)</p> Signup and view all the answers

<p>Limiting communication (A)</p> Signup and view all the answers

<p>Each airline would manage their own baggage transport. (B)</p> Signup and view all the answers

<p>Encouraging broad involvement (C)</p> Signup and view all the answers

<p>Creating a similar-sized airport baggage system. (D)</p> Signup and view all the answers

<p>Change champions (C)</p> Signup and view all the answers

<p>Acceptance (C)</p> Signup and view all the answers

<p>Constant communication (B)</p> Signup and view all the answers

Changes within an organization that result from new business processes, impacting staff, systems, and culture.

The act of informing employees about new IS initiatives, emphasizing their importance and impact on workflows.

A vital factor in successful change management, ensuring staff understand the reasoning behind new systems and their individual impact.

Involving staff in the development process, fostering a sense of ownership and reducing resistance.

Providing practical training for employees on using the new system.

Active listening and responsiveness to employee feedback and suggestions during the implementation of new systems.

A designated individual responsible for promoting the new IS initiative within an organization.

Individuals recognized for their expertise and influence within a workplace, whose acceptance of a new system can significantly impact its adoption by others.

Resistance to a new information system that can take many forms, including sabotage, blaming the system for problems, or avoiding its use.

A key step in managing change involves identifying and engaging with individuals or groups who will be significantly impacted by the new information system.

Developing an action plan to manage the transition to a new information system is crucial for a successful implementation.

Encouraging employees to form teams dedicated to facilitating the change process for a new information system.

It's essential to involve as many people as possible in the planning and development of a new information system.

Making change a regular and expected part of the organizational culture helps to create a more adaptable and flexible workforce.

Open communication and feedback are essential for implementing a new information system effectively. Keep everyone informed!

Change experts recommend using financial incentives and recognition to motivate employees during the implementation of a new information system.

A method of managing change that highlights the importance of building employee support and understanding alongside strengthening change and building momentum.

The first step in Kotter’s Eight Step Model, it involves creating a sense of urgency within an organization about the need for change.

The second step in Kotter’s Eight Step Model, it involves building a coalition of influential individuals who are committed to driving the change forward.

The third step in Kotter’s Eight Step Model, it involves developing a clear vision for the desired future state and communicating it effectively to everyone involved.

A change management model developed by John Kotter and Leonard Schlesinger, focusing on minimizing resistance to change.

A change management model developed by Kurt Lewin, focusing on 'Unfreezing,' 'Changing,' and 'Refreezing' to manage change within organizations.

Developed by Tom Peters and Robert Waterman at McKinsey & Co., this framework analyzes seven interconnected elements of an organization to assess its current state and plan for change.

A type of coercion that involves forcing employees to accept change through explicit communication and pressure.

A document created during project initiation that establishes the procedures for managing risks throughout the project lifecycle.

A systematic process used to identify, assess, plan responses to, implement, and communicate risks associated with a project.

The likelihood that a particular risk will actually occur.

The potential negative or positive impact a risk could have on project objectives.

The time frame within which a risk is most likely to occur.

Strategies for mitigating threats, including avoiding, reducing, transferring, creating a fallback plan, accepting, or sharing the risk.

Strategies for capitalizing on opportunities, such as exploiting, enhancing, rejecting, or sharing the opportunity.

The individual responsible for overseeing and addressing a particular risk.

A structured method for analyzing an organization's strengths and weaknesses, identifying opportunities for growth, and creating a plan for achieving desired outcomes.

An iterative approach to implementation, where a new system is first deployed in a limited environment, then progressively rolled out to the entire organization based on feedback and learning.

A method of system implementation where the old system is completely replaced by the new system at a specific point in time without any overlap.

A phased introduction of new system functionalities or features to minimize disruption and allow users time to adjust.

The automated baggage system at Denver International Airport (DIA) was a major failure due to a lack of time for proper development and integration, leading to a 16-month delay and significant financial losses.

The automated baggage system was not included in the initial planning stages of DIA, leaving insufficient time for its development and integration.

Airlines constantly changing their business requirements caused disruptions and design conflicts within the system.

The airlines had separate baggage handling systems, making it difficult to integrate them into the automated system.

The system was designed for a smaller scale, leading to inadequate infrastructure for the complex DIA operation.

Power supplies were not updated for the revised system design, leading to overloaded motors and mechanical failures.

Barcode scanners failed to read correctly, causing baggage routing errors.

BAE, the system developer, lacked experience building a baggage system of such size and complexity, leading to design flaws.