CIS554 Discussion Response

There are two discussions here that need to be responded to thoroughly. Responses must be on APA format 150+words 1-2 legitimate verifiable sources per response.

CIS5554 discussion 1 post responses.
Respond to the colleagues posts regarding:
“Project Risks” Please respond to the following:

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• When managing a project, project managers must remain vigilant to project risk management. Summarize at least three risks that may impact the success of a large technology project. Relate each risk to a specific project attribute.
• Analyze how the risks identified in Part 1 of this discussion may impact the project and project deliverables.

AJ’s post states the following:
• When managing a project, project managers must remain vigilant to project risk management. Summarize at least three risks that may impact the success of a large technology project. Relate each risk to a specific project attribute.
Project risk management is the process of identifying risk, analyzing risk as well as developing risk responses in case a specific risk occurs. Three risks that I think can impact any technology project regardless of size negatively are project management, inadequate resources and project control & tracking. The reason why I think these three are so vital is because if these risks are recognized and mitigated, project failure will decrease.
 
Project management is the over arching practice on how projects are initiated, planned, executed, controlled & closed. This is a huge risk for an organization if project management does not clearly define prior to beginning a project. A specific project attribute that project management relates to is processes. Processes are proven best practices on how to execute a task, objective or project. An organization should have an idea if they would like to use the waterfall method versus the agile methodology.
 
As for inadequate resources, this will hinder the completion of the scope of any project tremendously. No matter the scope or size of a project, if the necessary expertise or amount of resources are not allocated the project will guarantee fall behind schedule. Two project attributes that relate to this risk are personnel and budget. Personnel has three key factors which are recruitment, ability and retention. If an organization cannot execute either of the three factors, then acquiring and keeping skilled resources will be difficult. As for the budget its self-explanatory. If the budget does not have enough cap space to acquire the talent needed to execute the scope of work, then you pay for what you get. Which is unskilled talent and that will be unacceptable.
 
Lastly, the last risk that can impact the success of a project is project control and tracking. Even though control and tracking are spoken about as one effort its not. You can control a project and not track as well as a project can be tracked but not controlled. I think technology is a project attribute that is directly associated with project control and tracking. Reason being, the project team may not have the tools, platform to control and track a project.
 
Ondov, R. (2001). Managing software projects at AT&T: common risks and pitfalls.
Paper presented at Project Management Institute Annual Seminars & Symposium, Nashville, TN. Newtown Square, PA: Project Management Institute.
 
Khan, M. E. (2012). Relationship between project attributes, project performance, and
Project governance dimensions—building the theoretical framework. Paper presented at PMI® Global Congress 2012—EMEA, Marsailles, France. Newtown Square, PA: Project Management Institute.

• Analyze how the risks identified in Part 1 of this discussion may impact the project and project deliverables.
How could a project be successful if a defined project management practice or framework is not chosen prior to a project being initiated. If the project manager is unable to provide the project team with a proven process and/or best practice, each phase of the project will be open for interpretation. For example, risk management is a constraint that needs a structured plan to ensure that any risks/ issues known are accounted for in the schedule, budget and quality. In addition, without a structured plan, risks can negatively impact the project and all project deliverables.
 
Fairley. R. E. (2009). Managing and Leading Software Projects. Wiley-IEEE 
 

CIS554 discussion 2 post responses.
Respond to the colleagues posts regarding:
“Risk Management” Please respond to the following:

• Risk management plays an important role within the software project management life cycle. Determine at least three techniques that can be used to identify and analyze project risk factors. Rationalize how these techniques can minimize project cost overruns, schedule delays, and defects.
• Justify an approach that you would use to identify, prioritize, and mitigate risk within a large software development project management life cycle. Include example(s) to justify your answer.

LG’s post states the following:

“Risk Management” Please respond to the following:  
Risk management plays an important role within the software project management life cycle. Determine at least three techniques that can be used to identify and analyze project risk factors. Rationalize how these techniques can minimize project cost overruns, schedule delays, and defects. 
 
Risk management is definitely a critical role.  I also feel that risk management cannot be done in isolation.  Three techniques used to identify and analyze project risk factors are: 
 
• Brainstorming:  The brainstorming technique is a commonly used technique for the identification of risk.  The group of individuals starting think of potential risks to the project and call out and note those areas.  The group identifies all the types of potential risk and then once there are no more suggestions the team starts qualifying which is higher in priority than the others and describing that the risk actual is, via a risk statement, and the approach and plan to manage the risk.   
• Expert Judgement: Using expert judgment is a  great way to identify potential risks for a project.  The folks from specialty areas or from other project teams can provide their experience and insight for potential risk for the existing project.  They can glean from the prior project’s lessons learned and can use their experience to help identify potential risks or help develop risk mitigation strategies to help the existing project.   
• SWOT:  Another technique used is the SWOT analysis.  Similar to the brainstorming, ideas are expressed by the team with the exception it focuses on the four quadrants.  The team generates ideas in the areas of strengths, weaknesses, opportunities, and threats. Now the team can focus their risks in ranking or priority order using these groupings. 
 
Using these techniques as well as the others provide what is known as a risk management plan and register for the project.  The plan is the documented risks for the project on the identified risks, their potential impacts on the project, and the project’s plan response for the risks.  A risk register is a tool the project manager can use to display all the identified risk, their ranking in priority, and their risk score, ie., probability, and likelihood of the occurrence of the risk producing a risk score.  Project managers can use this information to identify strategies to either minimize or eliminate (or in some cases accept or transfer) the risk so they do not encounter, things like overruns or delays. 

Fairley, R. (.  (2011). Managing and Leading Software Projects. [VitalSource Bookshelf 9.2].  Retrieved from vbk://9781118245279 
Rouse, M. (2020, April 7). What is Risk Management and Why is it Important? SearchCompliance. https://searchcompliance.techtarget.com/definition/risk-management. 
 
Justify an approach that you would use to identify, prioritize, and mitigate risk within a large software development project management life cycle. Include example(s) to justify your answer. 
 
 The approach I use for managing risks would start with a project charter that would identify the scope, approach, milestones, resources, assumptions, and constraints, and noted deliverables to name a few.  Using that as a starting point, I would use a combined approach of brainstorming, and SWOT analysis against my charter to identify potential risks for the project.  These process steps would identify the majority of the risk to the project.   Afterward, I would work with the team to assess each risk.  It would include what impact does it have to the project, what probability and likelihood of the risk occurring, and what ways it can be mitigated or resolved.  After coming up with the strategies, the risk would be prioritized in ranking order for 1 – 10 (or more) where one is the top risk. 

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