Risk Management Plan - Risk Treatment Implementation

Question 7

a. Change in the data recording and protecting method, as it will be on company’s cloud store and in house from now on, rather than being outsourced, for safety and data retention purposes. The list of actions taken in order to decrease the risk and increase the effectiveness of the new plan are:

• Hiring in-house IT and cloud specialists
• The data operating and entry team should be hired, as done
• Data manger should be more aware and vigilant as now it’s his responsibility to store, retain and protect the data from theft, virus and errors
• A proper training has to be given to the IT team and data entry team
• Cloud licence has to be bought
• Proper ERP system like SAP or oracle has to be implemented
• Risk management system has to be linked to ERP system and cloud computing system
• Budgeting has to be done for new systems, hiring, trainings, equipment, in-house managed pcs and data base etc.
• This is a whole complete and complex process with many people and cost involved.
• It is also time-consuming process
• According to forecasting the whole implementation, trainings and data entry process will take almost 90 to 100 days with a rough cost of $10000.
• Supervision at all new points and implementation

b. Evidence

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