CSIS 360 Lecture 15 Exam Results 60 points possible Mean 52.1 (87%) Median 54 Max 60 Distribution: &lt;45: 2 45-49: 3 50-52: 3 52.5-54.5: 4 55 57: 5 57.5-60: 2 Midterm Grades are on the exam. Weights are: Class participation (CP): 10% Homework (HW): 40% Exam: 50% Note that the project does not factor into this grade. End of term weights: CP 5%, HW 25%, Exams 30%, Project 40% <a href="/keyword/risk-management/" >risk management</a> Boehm claims that he has observed project managers successfully use waterfall, evolutionary development, and complex mixtures involving prototyping, simulation, subcontracting, tiger teams, etc. This suggests that every process can lead to successful project. He argues that successful project managers are those who are good risk managers. Projects that use sound <a href="/keyword/risk-management/" >risk management</a> : - avoid project pitfalls (i.e., they don't make classic mistakes) - produce good products Objectives - identify, address, and eliminate risk items - before they threaten project success or lead to significant rework o What is rework? Risk: &quot;The possibility of loss or injury&quot; Risk Exposure - RE = P(OU) * L(OU) - P(OU) = probability of unsatisfactory outcome - L(OU) = loss that would result from unsatisfactory outcome What is unsatisfactory outcome? - Depends on who you are. - Customer: budget overrun, schedule slip - User: wrong functionality, poor UI, unsatisfactory performance, poor reliability - Maintenance staff: poorly organized and documented source code Decision Tree: (figure 1) use to help decision making Two elements: risk assessment and risk control Assessment: risk identification, risk analysis, and risk prioritization Control: <a href="/keyword/risk-management/" >risk management</a> planning, risk resolution, and risk monitoring Risk Exposure factors - This is a good technique - Without this technique, people tend to focus on either o items that have high probability o items that may result in high loss - As we can see from the table, these may not be the items that you should be focusing on. - Technique allows you to focus on items with greatest RE - Allows you to better use scarce resources - Allows you to take actions to reduce prob. of unsatisfactory outcome, or to reduce the uncertainty regarding that probability A key point item with highest prob of occurance is not necessarily the most important item with highest cost if it occurs is not necessarily the most important need to examine risk exposure: prob of occurance times cost. <a href="/keyword/risk-management/" >risk management</a> - Define <a href="/keyword/risk-management/" >risk management</a> plans for each risk item - One source of plans is to use a checklist (such as table 1) to determine which <a href="/keyword/risk-management/" >risk management</a> techniques are likely to be successful in different situations. Risk Resolution and Monitoring One technique: Project top-10 risk item tracking - see table 5 - Allows you to focus on the high-risk critical factors o Address those that could have significant impact on project - rank the project's most significant risk items - Establish regular reviews o Begin meeting by summarizing progress on risk items - show current ranking, previous ranking, time on list, risk resolution progress - highest risk items change over course of ...