Risk Management Plan - Essay Example

Another area of concern is research and development process. There are of course many problems, for example, the project may soon be made obsolete by technical developments, or a change in taste by consumers or a competitors new ideas; the policy of the company could also change. Vast amounts of money may be spent on research and development but the projects can be later cancelled. This problem is closely connected with funding and lack of resources on further R & D (Marrison 2002). Staff changes can threaten the project and lead to information disclosure and lack of security issues.

Staff is the key to all security measures and is the most vulnera­ble aspect of IT security issues. Most frauds require an operative in another organization or collusion with existing employees. Segregation of staff duties and accurate documentation of programs is essential. The strict control of operations is vital, especially where satellite devices are connected to a central processor, allowing easy access to information. Physical plant security issues are connected with bomb threat, breaching of security barriers and lack of control and monitoring facilities (Frame 2002).

As the needs of the orga­nization change, managers can contract with external vendors to perform specialized services that the organization cannot perform internally. Still, in come cases vendors can deliver low quality spare parts and raw materials which create a risk for the project and schedule. It is important for the project management to agree all deliveries and specifications with vendors in order to avoid delays faults issues and delays. Suppliers should continually monitor product requirements, factory scheduling, and commitments of their customers against their own schedule to ensure that enough in­ventory will be available.

Once these systems are in place