RISK

MANAGEMENT
PROJECT 1
INTRODUCTION
 The corporate environment is fast-changing, necessitating strong project
management solutions for effective implementation.
 RiskTech Solutions aims to provide project managers with software
solutions, starting with a Risk Management module to identify, evaluate,
and reduce project risks.
 The company will be based in Melbourne, Australia, leveraging the local
tech scene to attract talent and foster innovation.
 The corporate structure comprises seasoned experts in project
management, software development, marketing, and business operations.
 The business case emphasizes competitive advantage, market potential,
and financial sustainability.

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BUSINESS NEED
 There is a significant market gap for
specialised IT project management focused on
robust Risk Management software.
 Many project managers struggle to effectively
identify, assess, and mitigate risks due to the
lack of comprehensive tools.
 RiskTech Solutions aims to fill this gap by
offering a holistic solution tailored to the
complexities of risk management in projects.
 The business opportunity is feasible due to the
increasing demand for specialised project
management tools that enhance efficiency
and success rates.
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FIRM’S VALUE PROPOSITION
 RiskTech Solutions’ software identifies and assesses risks while providing
actionable insights and real-time tracking for proactive issue management.
 The software differentiates itself with a user-friendly interface,
customizable models, and seamless integration with other project
management tools.
 Key features include advanced risk visualisation, automated feedback, and
a comprehensive mitigation planning guide to aid in risk management.
 The software’s unique proactive risk management approach enhances
project success rates by not only identifying risks but also providing
actionable strategies and continuous monitoring.

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MARKETING AND BUSINESS
DEVELOPMENT ACTIVITIES
 Targeted marketing campaigns on
digital platforms to identify potential
clients in key industries.
 Establish partnerships and
collaborations with reputable project
management firms and industry
associations to promote software.
 Conduct product demonstrations and
webinars to showcase software
capabilities and benefits to
prospective clients.
 Offer free trials and introductory
discounts to encourage early
adoption and gather user feedback.
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COMPARATIVE ANALYSIS
AND ADDED VALUE
 RiskTech Solutions’ software offers enhanced
features and a better user experience compared
to competitors like RiskWatch.
 It includes advanced risk visualisation tools for
immediate recognition and understanding of
potential threats.
 The software provides customisable models
suited to different industries and integrates well
with other project management tools, enhancing
usability.
 The software’s proactive approach not only
identifies risks but also provides actionable
strategies and continuous monitoring for
effective risk management.
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IDENTIFICATION OF THE
SCOPE
 The software package includes various
features and services to assist project
managers across different industries.
 Risk identification tools help users record
and categorise potential issues, linking
them to specific project tasks or
milestones.
 Built-in assessment matrices evaluate
each risk’s probability and impact,
prioritising risks to ensure the most
significant ones are addressed first.
 Users can develop and implement
mitigation strategies, guided by templates
and best practice guidelines.
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IDENTIFICATION OF THE
SCOPE
 Real-time risk monitoring throughout the project
lifecycle allows for proactive management and swift
action.
 Automated reporting features summarise risk status,
assessment outcomes, and mitigation actions, easily
shareable in various formats.
 Integration with popular project management tools
ensures streamlined processes and reduces manual
data entry.
 Advanced risk visualisation tools present risk
information in easily understandable charts and
graphs.
 The user-friendly interface requires minimal training,
enabling project managers to quickly learn and
effectively use the software.
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INDUSTRY FOCUS
 Initial focus will be on the
construction and
infrastructure sectors due
to the industry's need for
robust risk management
tools.
 Expansion into other
sectors is planned as the
company grows.
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EXAMPLES OF POTENTIAL
CLIENTS
 Large construction companies could use the
software to manage risks related to project
delays, cost overruns, and safety concerns.
 Infrastructure development agencies could use
it to manage risks associated with regulatory
compliance, environmental protection, and
stakeholder engagement.
 Engineering firms could use the software to
manage technical risks, ensuring successful
completion of complex projects.

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KEY MARKET PROPOSED PROJECT
SECTORS MANAGEMENT FIRM
 RiskTech Solutions, based in Sydney,
 Focus on key market sectors, Australia, will specialise in developing
including construction and project management software, starting
infrastructure, information with a Risk Management module.
technology, healthcare, and energy  The location offers access to a vibrant
and utilities. business environment, skilled workforce,
 These sectors represent significant and proximity to key industries.
opportunities for revenue  The company will be structured as a

generation and market private limited company, providing a

strong legal and financial foundation for
penetration. growth.
 The software's customisable  Goals include product development and
features make it ideal for launch, market penetration, customer
addressing the unique needs of acquisition and retention, financial
stability, and expansion into new sectors
these industries. and product offerings.
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TEAM
CURRICULUM
STRUCTURE
VITAE
AND ROLES
 The team comprises experienced
 Team
professionals in software members have relevant
development, project experience in their respective
management, risk management, fields, having held key roles in
and marketing. project management, software
development, risk management,
 Key roles include CEO & Project and marketing.
Manager, Software Development
 Responsibilities include leading
Lead, Risk Management Specialist,
and Marketing and Sales Manager. strategic direction, managing
projects, developing software,
 The team is responsible for designing risk assessment tools,
strategic direction, software and executing marketing
development, risk management, strategies.
marketing, and sales operations.
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GAP ANALYSIS FOR
CAPABILITIES
 The team has strong capabilities in
software development, risk
management, and business
development.
 Gaps exist in advanced data analytics
and financial management.
 Plans to hire a Data Scientist and a
Financial Analyst to address these
gaps, ensuring robust financial
oversight and enhanced data-driven
insights for the Risk Management
module.

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KNOWN
RISKS AND CRITICAL SUCCESS
CONSTRAINT MEASURES
S
 Key risks include limited initial
funding, competition, and technical  Success will be measured by
challenges in developing the Risk meeting key product development
Management module. milestones, achieving high
 Strategies to mitigate these risks customer satisfaction and market
include seeking additional funding, share, and ensuring financial
conducting thorough market performance targets.
research, and hiring experienced  Financial metrics include net cash
developers. flow, operating expenses, and
 Constraints include time, limited revenue, with monthly cash flow
budget, and small team size, analysis to monitor financial health
necessitating efficient resource and stability.
management and prioritisation.
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FUTURE PLAN
Implementation Approach
 A phased approach will guide implementation, starting with planning and research,
followed by development, launch, and customer acquisition.
 Each phase has specific objectives and timelines to ensure a structured and
effective rollout.
3-Year Monthly Cash Flow Analysis
 A detailed cash flow analysis projects initial negative cash flow due to startup costs,
with a transition to positive net cash flow as sales increase and expenses stabilise.
 The analysis includes administrative overheads, operating revenue, and expenses
to provide a clear picture of financial performance over three years.
Project Management Principles
 The company will implement the 12 project management principles from PMBOK 7
to ensure effective project execution and stakeholder engagement.
 Principles include being diligent, creating a collaborative team environment,
focusing on delivering value, adapting based on feedback, and ensuring quality and 15
continuous improvement.
REFERENCE LIST
 Atlassian. (2024). 12 Project Management Principles & Concepts | The Workstream. Atlassian.
https://www.atlassian.com/work-management/project-management/principles
 Aven, T. (2016). Risk Assessment and Risk management: Review of Recent Advances on Their
Foundation. European Journal of Operational Research, 253(1), 1–13. Science Direct.
https://doi.org/10.1016/j.ejor.2015.12.023
 Balaban, S., & Đurašković, J. (2021). Agile Project Management as an Answer to Changing
Environment. European Project Management Journal, 11(1), 12–19. Researchgate.
https://doi.org/10.18485/epmj.2021.11.1.2
 Burroughs, D. (2024, May 8). Top Risks in the Construction Industry & How to Mitigate Them. STACK
Construction Technologies.
https://www.stackct.com/blog/top-risks-in-the-construction-industry-how-to-mitigate-them/
 Haponava, T., & Al-Jibouri, S. (2012). Proposed System for Measuring Project Performance Using
Process-Based Key Performance Indicators. Journal of Management in Engineering, 28(2), 140–149.
https://doi.org/10.1061/(asce)me.1943-5479.0000078
 McGuire, J. (2024, June 24). Risk Management Software Development: Mitigate Critical Risks With
Effective Management Strategies in Software Development - Pulsion Technology. Pulsion Technology.
https://www.pulsion.co.uk/blog/risk-management-software-development/
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REFERENCE LIST
 Newbry, M. (2018, August 31). Risk Management Reporting: A UX Case Study - Mike Newbry -
Medium. Medium; Medium.
https://medium.com/@mikenewbry/case-study-risk-management-reporting-9d97e4c822db
 RiskWatch. (2023, September 4). About Us - RiskWatch. https://www.riskwatch.com/about/
 Romeo, A., Pangeiko, J., & None Hylton Villet. (2024). AN INTEGRATED APPROACH TO
SUSTAINABLE COMPETITIVE ADVANTAGE. International Journal of Business and Society, 25(1),
201–222. https://doi.org/10.33736/ijbs.6907.2024
 Strahan, J. (2023, July 28). Top Risk Management Tools and Techniques for Successful Projects.
Mission Control.
https://aprika.com/blog/top-risk-management-tools-and-techniques-for-successful-projects/
 Top. (2024, June 20). Projectworks. Projectworks.
https://projectworks.io/blog/engineering-challenges-and-how-to-overcome-them
 Tucci, L., & Stedman, C. (2023, September). What is Risk Management and Why is it Important?
TechTarget.
https://www.techtarget.com/searchsecurity/definition/What-is-risk-management-and-why-is-it-im
portant

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THANK YOU!

Any Questions?