discussion and reply to student

Please respond to the following:

• Debate  whether the cost of utilizing ATOM for large projects is justified when  an organization has limited resources to dedicate to risk management  efforts. Provide a description that you would present to your managers  to persuade them to see matters your way.

Be sure to respond to at least one of your classmates’ posts.

Respond to student below

Yolanda Kennedy         

 4:10pm Sep 10 at 4:10pm          

The  answer cost of whether or not utilization of ATOM for large projects is  justified when an organization has limited resources to dedicate to risk  management efforts is difficult to provide a clear answer.  From a  business perspective, the cost of ATOM for large projects is justified  because larger projects correlate with a more intricate ATOM methodology  (ATOM-risk.com, 2023).  Therefore, whenever there is greater complexity  with a business process or function, it is expected that costs will be  higher .

            From the perspective of the smaller business or the  business with fewer available resources, the cost of utilizing ATOM for a  large project is likely not justified.  The reason for this is that the  cost for larger projects, as mentioned above, is higher.  A smaller  company or a company with  fewer resources likely cannot afford it  (ATOM-risk.com, 2023).  From this perspective, the cost would not be  justified.

            A description that I would present to your managers to  persuade them to see matters your way is the following: for larger  projects, the ATOM methodology is associated with higher costs because  of the increased size of the project.  Because of this, the ATOM cost  for larger projects also increases (ATOM-risk.com, 2023) .  However,  with that being said, the data or findings generated through the ATOM  with respect to risk management can help companies to save an incredible  amount of money in avoiding or better mitigating risks.  Therefore, the  cost savings create a significant and positive return on the investment  that the company spends on the ATOM methodology being used, which makes  the investment more than beneficial for the company it in the long run.

Reference

ATOM-risk.com. (2023). THe ATOM methodology. ATOM Risk. Retreived from https://atom-risk.com/atom-methodology/#1600443752039-c5ac53ca-1b1d