Stakeholder and Risk Register, Work Breakdown Structure, and Responsibility Matrix

XYZ Business Workflow
Name
Affiliation
Course Title
Tutor
Date
XYZ Business Workflow
XYX business has encountered numerous challenges concerning its workflow project. The firm needs a software solution for streamlining its workflows and processes across the offices globally. Its business development team has contacted ABC Solutions, which has a similar software solution. However, the firm needs additional customization and features. In this report, the effort estimates and project charter to develop a single that includes; risk register, Work Breakdown Structure (WBS), risks structure and stakeholder for rolling out the project is proposed.
Stakeholder Registry
The following individuals are identified and listed for the project. They include;
Names

Role in the Project

Influence

Rank

Description

[Insert Your Name]

Manager of the Project

High

High

1. Responsible for planning and executing the scope of the project
2. Oversees the development of the project
3. Supervises and ensures completion of the project

Michael Lee

Software Architect

High

High

Responsible for designing software during the project

Jacob Rose

Director of IT and XYZ financial

High

High

1. Ensure synergy in various departments during the project
2. Supervises the IT department at XYZ Company

Sasha Myles

Director of the Project

High

High

Oversees the project and supervisors another project manager

Julia Smith

Product Manager, XYZ Company

Medium

Medium

1. Defining vision of the project
2. Prioritizing the product capabilities and features
3. Aligning all stakeholders in the project towards achieving the intended vision

Ryan Hernandez

Team Lead

Medium

Medium

Mobilizing and coordinating the team during the project

To Be Decided (TBD)

Team members for UI design and development

High

Medium

Responsible for developing and designing software interface

TBD

Software testers

High

Medium

Conducting software tests

TBD

Software developers

High

Medium

Developing software for the project

The IT Director of XYZ Financial Company, software architect, technical team lead and production manager are categorized as highly influential and interested persons. Nguyen and Mohamed (2018) describes highly influential individuals in an organization as stakeholders who are likely to be decision-makers and significantly influence the outcomes of a project being undertaken. Thus such individuals play a central role in determining the performance and productivity in a project and need to be kept close by the management.
Moreover, the UI design and development team members, software developers, and software testers are classified as a medium influence but stakeholders with high interests. Ilinova Cherepovitsyn and Evseeva (2018) argues that it is essential to keep medium and high-interest power stakeholders adequately informed about the projects being undertaken in an organization through consultations and constant communication to prevent glitches during implementation. Such stakeholders contribute significantly to the success of a project through detailing, innovating, and implementing the desired plans. Further, the team lead, the project manager are identified as medium power and medium interest stakeholders. It is crucial to keep such a group of individuals informed about the requirements of the project and the progress made in implementation. However, the management may not need to engage them in in-depth explanations about the project since they are only required to oversee the project.
Meanwhile, the team leader and product manager are responsible for determining the project's scope and the planning components. They identify the critical stakeholders required in the implementation of the project and ensure that the project milestone is aligned with the organization's vision. Besides, they ensure the project is completed efficiently. It is the prerogative of the high-interest stakeholder and high power individuals to review, approve and understand the project's scope for effective implementation.
Risk Register
There are several risks that are associated with this individual project. These risks vary in terms of probability, the impact that each has and the status of the risk. It is significant and very imperative to take note of these risks and the rate or probability of their occurrence before setting up the project. Some of the risks that are identified in the scenario of this project are stipulated in the risk register below.
Risk ID

Risk

Possibility

Risk Impact

Score of Risk

Responsible team

Response

Status

1

Availability of resources

Medium

high

7

Project manager

The manager of the project would have to work with the sourcing group in order to allocate or obtain the required resour...