Phase 3 – Risks and Assumptions

The purpose of Phase 3 of the project is to identify risks and assumptions based on your chosen data storage and management solution. Risks and assumptions are defined as any negative or adverse consequences that may impact project success. The risks should directly relate to specific strategies for evaluating metadata design and management. This section should include risk and assumption descriptions, as well as mitigating actions.

Research and write a short (36 pages for the body section) paper in current APA style and format, with a minimum of three references, that covers the following topics:

Risks.
Identify and discuss risks of implementing the chosen data storage solution. Focus on minimizing threats to achieve business goals.
Apply specific strategy for evaluating metadata design and management, in relation to noted risks.
Discuss factors that may impact project failure. Examples:
User needs; metadata management.
Thorough investigation of technology capability.
Architecture as an extension of current databases.
Compatibility of architecture and tool.
Business functional requirements.
Requirements and skills of the data architect role (or roles).
Ability to meet all data management needs.
Ability to impact business processes and workflow.
Describe a systematic approach for ongoing risk review:
Describe how risks will be managed.
Discuss ongoing activities for assessing risks.
Discuss how risk reduction actions will be handled.
Provide an outline of how risks will be monitored and reported.
Provide example documents as applicable (for example, a risk management report, incident report, and audit questionnaire).
Assumptions.
Identify assumptions about the chosen data storage solution.
Discuss assumptions about interpretation of solution capabilities and potential misconceptions.
Describe assumptions about input data and other data management characteristics.
Discuss potential external and internal environments in relation to the implementation of solution.
Describe a systematic approach for ongoing risk review.
Ongoing mechanism to validate.
Provide an outline of how assumptions will be monitored and reported.
Contact person (or persons) to validate assumptions.
Provide example documents as applicable, to determine if assumption is valid or invalid.

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