Minimise Technologies To Business Solutions: Risk Assessment And Management Strategies

Situation Analysis (Background and reasoning)

Discuss About The Minimise Technologies To Business Solutions.

It is very important for the company to make sure that they are evaluating all the possible risks that might crop up in the future. As the company Fitters Snackers is about to bring about many changes in the upcoming years they have to make sure that they have a proper backup strategy. They want to increase the manpower and also make several improvements on the internet and the router system. It is for this reason that they must know their current infrastructural set up as well. There can be already existing problems like wear and tear of some ongoing electrical units, slow speed of the internet, virus incidents and several other problems. This indeed is very problematic and these are the issues that have to solve at the beginning so that they can bring the desired changes in future.

Some of the other practical problems that they can face are the configuration problem. Often the configuration of the router really becomes a huge problem even with the users who are experienced enough. The setting up of the entire system becomes a huge problem. There can be the issue of slow internet speed. As the product that they deal in is a very sensitive one, that is health bar any security breach will harm the health of people and can cause serious damage. This will hamper their goodwill. It is for this reason, that they must be prepared to deal with and solve any kinds of hacking attacks. The work can often get hampered due to the slow speed or even due to the weather problems. The wi fi or the wireless net often gets slower due to the poor climatic conditions as well. There can be some bad virus attacks and there has to be an extra amount of money kept reserved for being used in order to overcome these problems. File sharing is one of the major problems that may arise due to the launch of the wireless or the dial-up in internet systems.

Executive summary

The company Fitters Snackers is about to work on their business expansion in the coming 3 years. They want to expand both in terms of manpower and in terms of equipment. They want to expand their manpower from the current 500 to 1000. They also want to install new servers, wireless and dial-up internet. Hence they must make some risk evaluation to make sure that they are prepared for the kinds of risks and the easy to combat them.

Identifying threats

The company Fitters Snackers deal with the production of the health or the energy bars and are presently operating in two of the geographical locations. They, however, want to expand their business in the coming years and they want to increase their manpower and also their production. Currently, they are headquartered in Melbourne and they have started to make changes in both of their locations. They have set up about 500 workers with their other implements like the routers, the servers, the network implements and their infrastructural base as well. They, however, want to implement their plan of expanding their business. In order to do that they want to appoint 1000 workers more and they also want to increase the number of servers, the routers, and other such equipment. They want to make the work more easy and fast for the employees and thus they want to launch the dial-up internet and the wireless internet systems. However, they know that with business expansion, there come many unforeseen risks as well. There can be the security attacks, or improper positioning or installation of the routers in the other branch. So, they have to make a proper risk assessment and risk analysis. This will help them to find out the backup methods that would help them to fight against these unforeseen risks.

Identifying threats-

• Operational
• There can be several risks associated with the new approaches that they are about to take. The first is the positioning of the wireless internet and the dial-up internet systems. As most of their servers are currently installed in their main head office branch that is in Melbourne, there will be a huge problem. The new routers might not be easy to be configured or there can be several malfunctioning as well.
• Human-As they deal in the production of the health component that is energy bars, there can be some malfunctioning of the data. It will lead to production going wrong and this can impact the quality of the energy bars. This will cause illness among their customers.
• Reputational-There can be many probable risks like the virus attacks, the slow speed of the internet, problems in the configuration and many other. As a result of all these, the ultimate result will be the hampering of the production. The energy or the health bar productions will not take place properly and the customers will get angry. They will not be satisfied. This will lead to the loss of the loyal customer base. Thus, their reputation of the company is also at stake.

The assessment of the risks has to follow by the estimation of the risks. The formula that they can use is-

Risk Value = Probability of Event x Cost of Event.

The Fitters Snackers company knows that as they are about to expand their business and they are about to install many new types of equipment, it is possible that there can be these changes. There can be the risk of the work getting slower as there can be issues in the speed of the net. Apart from this, there can be configuration problems as well. The proper configuration might really take some time. Apart from these, as they are about to recruit many new workers, there can be the chances that the new workers are in the need of proper training.

• Risk identified- The risks can be a slower speed of the net, the problems in configuration, connection or the plugging in of the other devices like the CDs or the pen drives in the network wirelessly.

• Decided who may be harmed and how- Ultimately the employees and the customers will be harmed a great deal as these problems will harm the production of the energy bars.
• Assess risks and take actions
• The risks will include the slow internet speed, virus attacks, loss of important data, server down problems and many other such problems. So, they have to keep some backup options like some other memories or places where they can store the data. This will help them to get back up even if there is any loss of the important data.

The findings from the risk assessment have to be maintained by the company so that they can keep them as a reminder. The findings are that there can be a slower speed of the internet, the improper placing of the routers, virus attack, loss of important data and other such data.

Risk Assessment

The risks that are identified have to be revised by the expert officials at every regular interval so that they can handle the risks at the right time.

Risk Management Strategies and Actions

Buying a powerful router is of great help. There must be several alternatives set up so that the work can be carried on properly. The placement of the routers in the office must be done in a proper way so that the radio waves or the internet signals can be used properly by the systems that are set up at different parts of the office. The actions they can take are hiring good and competent people for the purpose of setting up the new routers and also getting them configured. Their actions might also include keeping a proper training system for training the new employees that they will be recruiting.

• Powerful and original routers are to be used
• The shifting or the launch of servers and the new routers at the branch other than that of Melbourne has to be done under the supervision of some computer experts.
• Keep back up for all important data and keep other net connection so that the production is not hampered.

The company must not use any products that are not having the copyright of any original or good, well-known brands.

 Monitoring and Controls

Using powerful and original routers, so that the speed it does not become an issue. There must be regular inspection of the operations of the new servers and the routers.

Q1. Briefly explain the project scope

The project scope will be very helpful as it will help in creating a systematic approach in the St Andrew’s University and its students. Taking up the task that has been assigned by the ABC Consulting, is indeed very unique as this will help in making the education system very smooth. The project scope was to select some convener or some in charge from the University who will be reviewing the marks and the academic records of the students in the previous courses. Unless the marks obtained by these students matches or meets the minimum criteria that have been set, they will not be allowed to take the classes in their next course.

Q2. Explain the functions that the system should implement

This system must select a convener or an experienced professor at that college to review the marks of each and every student before they are opting for the classes for their next course. This will actually be very helpful for the students for their future. Unless and until they are able to understand the previous lessons easily and clear all their doubts, they cannot really understand the next courses that they undertake. 

The convener or the professor in charge in charge of this new project will set a cut off marks or minimum marks that each student must get in their previous courses. As for example, the convener of PBC301 should be able to specify selection of enrolled students whose mark in PBC301 is <= 55%, and whose Mark in PBC286 is <= 60%. Only after getting this minimum marks they can enroll and continue for the classes of the future classes of their course.

Record of findings

Q3. Identified and list some of the expected and unexpected risks arising from the project.

The unexpected risks can be that the students and their parents might not like this system. They might feel that this system is very unfair. They are paying for their students to get good marks and pass the courses successfully so this system must be banned. The expected risk is confusion among the students regarding this new system. Some possible risks might be increasing number of dropouts from the college or from the respective courses.

Q4. What should they do to mitigate the risks?

The University must conduct a meeting including the members of the University boards, the conveners, and the students along with their guardians. It is here that the university must explain the reason behind this new rule. They must answer to all the doubts that might crop up in the minds of the students and their parents. It has to be made clear in this meeting that this rule is for the ultimate benefit of the students and their bright career. The university will take it clear that they have no intention of ruining the future of students or wasting the money that is being invested by their parents. It is for the welfare of the students that this decision is being taken.

Reference

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Here Is A List Of Great Tips For Successful Employee Recruitment (2018) The Balance Careers https://www.thebalancecareers.com/top-tips-for-successful-employee-recruiting-1918953

LYU, Qin and Hai-bo WANG, “User Behavior And Devices Analysis Of A Large-Scale Wireless Local Area Network Based On DHCP” [2017] (smce) DEStech Transactions on Computer Science and Engineering

Moura, Jose and Carlos Serrao, “Security And Privacy Issues Of Big Data” [2016] SSRN Electronic Journal

Protecting Data (2018) Information Systems & Technology https://ist.mit.edu/security/protecting_data

Stephen D. Simpson, CFA, Why Consumer Confidence Matters (2018) Investopedia https://www.investopedia.com/financial-edge/0911/why-consumer-confidence-matters.aspx

Stoutenborough, James and Arnold Vedlitz, The Role Of Scientific Knowledge In The Public’s Perceptions Of Energy Technology Risks (2018) Archive.org https://archive.org/stream/caribbeancontemp00conf/caribbeancontemp00conf_djvu.txt

Why Your Router Is A Security Risk (And How To Fix It) (2018) MakeUseOf https://www.makeuseof.com/tag/router-security-risk-fix/

Wireless Assessment And Penetration Test | Tracesecurity (2018) TraceSecurity https://www.tracesecurity.com/services-software/assessments/wireless-assessment

Zhao, Nan and F. Yu, “Opportunistic Communications In Interference Alignment Networks With Wireless Power Transfer” (2015) 22(1) IEEE Wireless Communications

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