Risk Management Plan - Risk Treatment Implementation

Question 8. Report

Insights on the Risk Treatment Plan

Challenges:
During the implementation, there were some challenges, namely:

• The finance manager was not ready to approve the budgeted cost
• The team was not willing for a switch to cloud portal for data excess
• In house team needed a lot of training sessions with specialized ERP and IT specialist
• Risk management and data protection team both had to work hand in hand, which was quite a tough task
• Data operators had to be monitored for correct data recoding
• The students have to be motivated and supervised to do timely data recording with less or no errors
• Security was a big concern

Adjustments In plans:
After the brain storming sessions with different teams, the ERP system was linked with the cloud, as for more easy flow and storage of data. Also, which is accessible from anywhere in the organization.

The effectiveness of the risk management plan:

In order to protect the data and keep the backups, the best way is to maintain an in-house team and system, both better control and privacy. Also, the ERP and cloud computing techniques are effective to carry out this risk treatment.

Areas of improvement
After the complete implementation of ERP and new data management system, still following measures are needed on a continuous level:

• The team has to be provided on-going training
• Any upgradation in system needs to be conveyed to the team
• Proper sync has to be maintained between risk detection, data managements and IT team
• Employees need to be given proper trainings and support
• Students work should be continuously checked by an authorized manger.