Application of Risk Management Tools

Written Case Assignment – Application of Risk Management ToolsThis is an individual project designed to help you apply risk management tools, develop your ability to analyze information, apply global trends to a specific company, and to prepare a high quality risk deliverable.Up to 25 pointsDue 7.7.21http://www3.weforum.org/docs/WEF_FS_Scenario_ITandInovation2020_2010.pdf (Links to an external site.)Drawing upon the above link, put yourself into a situation where you are a highly paid risk advisor on all things technology to a large company.  The company is a core component vendor to Tesla.  The company has retained you to advise them on how to prepare for the future by leveraging the best technology and optimizing their investment in tech.  While the above report is useful, it only projects developments up to 2020.  Your assignment is to provide: 1) insightful, 2) understandable, 3) actionable recommendations to your client that will both create company value and protect company value thru innovation up to the year 2025.  You should assume that the client has a large but not unlimited budget for IT.  So far, their track record of success is mixed and the CIO could not even name all of the technologies running in the company. The assignment is to answer each of these questions by following the directions to create, or apply at specific risk management technique within the context of the above link and the customer’s needs to be a leader in their space.  While it is not necessary that you agree with the information in the link because either their crystal ball was wrong, or you do not see a particular trend continuing, it will be necessary for your to provide a detailed summary justifying your recommendation in each response. Question 1 (5 points)What does the risktech ecosystem look like in the next few years?  Why?  The deliverable here is to provide one or more graphics and provide two to three paragraphs explaining the differences between today’s risk ecosystem and that of 2025.  See today’s risktech ecosystem in your text book.Question 2 (5 points)Create a SWOT that places the benefits, and risks of using each technology you believe the customer should be considering.  The SWOT should be visually appealing and clear.  It should also, help busy decision makers get a sense of what tech investments they should add or discard from their current IT portfolio.  The deliverable for this question is: a) a SWOT and b) two to three paragraphs that make the case for your recommendation.Question 3 (5 points)Create a Prouty Matrix that displays and quantifies the tech based risks to your customer as risks are positioned relative to one another today.  Create a second Prouty Matrix as if it were 7.1.25 showing anticipated changes in tech risk in the matrix if the company executes your plan.  Write two paragraphs on whether the tech risk/opportunity was treated, controlled, or avoided.Question 4 (5 points)Write two paragraphs explaining how tech can be an effective risk management methodology in helping a firm: minimize the cost of risk, promote compliance, manage uncertainty, and enhance economic value.  Don’t just take a “pie in the sky” view, tech also has some risks and downsides.  For some additional non required information see: https://www.pewresearch.org/internet/2021/02/18/experts-say-the-new-normal-in-2025-will-be-far-more-tech-driven-presenting-more-big-challenges/ (Links to an external site.)Question 5 (5 points)Write two paragraphs or create a graphic that explains how which technology can be effective in managing human resource and risk assurance?  Your response should be two paragraphs and exposure indicators, control indicators and the connection between the two should you client act on your recommendations.

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