Anthony Redhead
Grantham University Project Management Integration Framework (BA 647)
Introduction
Project risk management helps on risk identification and assessment to see which ones can be mitigated or corrected, and how to monitor if there is a probability of occurrence. In the case of outsourcing resources, risk mitigation is needed in order to look and review efficiency and cost of the services and equipment that will be outsourced. However, to be able to use the risk assessment matrix it is essential to ensure that risk is accurately measured. The project will evaluate the suitability and potential of outsourcing human capital, Information …show more content…
Some managers may have to split their energies between activities that engage prospective customers and concerns with operations outside of the core business objectives (Leung, et al, 2013). Outsourcing alleviates this necessity, and the business managers can focus their energies where their competencies lie. Businesses that must rely on an outside service run the risk of downtime during critical system failures, leading to potential loss of productivity. It may take days before a busy IT contractor can devote attention on the business problem and resolve the issues. This may leave workers idle and cause hundreds to thousands of dollars in lost revenue. An in-house network administrator becomes intimately familiar with the eccentricities and unique characteristics of the network he manages (McWherter & Gowell, 2012). Because of this, he or she is able to deliver results more efficiently, quickly and personally. IT outsourcing can never provide a personal touch that comes close to that of an in-house IT specialist. Many companies reject the thought of giving this up, even though they can save money by …show more content…
PMP. (2009). Identifying and Managing Project Risk 2ed. New York, NY: AMACOM.
Leung, H., Popescu, E., Cao, Y., Lau, R. W. & Nejdl, W. (2011, December). Advances in Loshin, P. (2013). Simple Steps to Data Encryption: A Practical Guide to Secure Computing. Newnes.
McWherter, J. & Gowell, S. (2012). Professional Mobile Application Development. New York, NY: John Wiley &