Technical Risk Possibility at Symcor: An Illustration of Risk Mitigation Strategy

Mark Bails

Project risk management has traditionally focused on risks to the “scope, cost, and schedule of a project” (Horne, 2017, p 90). Here a second, equally important type of risk is considered to be actions or events that may impact project success after delivery. These are technical risks, and an effective project management plan will also consider these in a determined implementation strategy.

Symcor, “one of Canada’s leading financial processing service providers,” is a firm that has recently achieved major improvement in customer satisfaction and financial success primarily through the use of its project management office (PMO) to increase efficiency and alignment of project goals with its corporate strategy (PMI, 2017b). Nonetheless, the possibility exists of technical risks after project completion. This discussion explores one possibility, that of client communication content errors, and reviews possible risk mitigation strategies for reducing the risk of such an occurrence. As such, this document is intended as an example of a risk report substantiating qualitative risk analysis (PMI, 2017a, p 589).

Client Communications
Symcor notes that they produce transactional statements as part of their customer communications service line (Symcor, n.d.). Since such statements contain private financial information, it is an “…

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