Executive Summary

The Altex Corporation is a company, which is in the business of developing sophisticated weapons for the US army. I the case, the Altex Corporation have managed to win a contract from the US army. They were very optimistic about the project, and the management of Altex Corporation was thinking that they would manage to manufacture the new technology, and are prepared to do planning for managing the risk in the project. The process of analyzing the risk of a project is a process, which requires input from the final user of the project. The customer has the right to expect a strategy for management of risk by the manufacturer, and has the right to force the manufacturer to develop a risk management plan. The Altex Corporation should involve the project manager right from the starting of the whole process, which was lacking in the said case, and should make sure that they develop a proper risk management plan to make sure that the project related costs are kept under control and the project is completed under time, even under adverse condition.

Altex Corporation Case Study

Introduction

The Altex Corporation was a company, which was supplying war related material to the USA army during the WWII. It was the period, when the US army was facing a number of difficulties, and they were awarding the army contracts to a number of different contractors, who were even down to the 4rth or fifth number in the list of suitable contractors. Due to this fact, a number of companies like Altex Corporation were making use of this situation, and earning contracts without proper preparation, and many of those companies even did not possess the capability to fulfill the requirements of the contract and they were planning to comply only at a level of 60-70% of the total requirements. Altex Corporation had devised any risk management plans for anything, which might go wrong in the project. The assessment of risk is a necessity for any sort of businesses. If a company does not appreciate the risks associated with a project or anything, then the company is putting themselves and their customers in a great danger. The companies have to look at all the activities that may have the potential to create any harmful or dangerous situation, which would a dangerous situation. The risk management plan is a part of the legal requirements in a number of projects these days. The aim of a risk management plan is to minimize the associated risks as much as possible.

Analysis

The risk management plan was considered unnecessary for the project proposal, because Altex corporation though that there was no need for such a plan because the Army did not have such technical experts at their side. Then the management of the Altex Corporation thought that the Army would not require them to meet the specification more than 60 to 70%.

Then the sponsors of the project just wanted to get hold of the project, and they did not have any concern ...