b Assume FIDELITY needs to initiate a new IT project in order to builddevelop

B assume fidelity needs to initiate a new it project

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b)Assume FIDELITY needs to initiate a new IT project in order to build/develop one of the application software/systems you mentioned above. Select the most complexinformation system you mentioned above. Assume some IT outsourcing will be needed to complete the project and make your assumption about the outsource approach explicit (i.e., the contract pricing modeland duration ). Risks: Is Fidelity prepared for a new system of functioning? Given the above outsourcing approach, complete a table describing the likely project management challengesand describe ways to address them. Rev’d for MISM 2301 by md Spring 2018 Page 5
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Fidelity Investments: at heart, a technology company (continued) Project Management Challenges Ways to Address Them Managing Hidden Costs of  Outsourcing - Outline and budget estimated costs and monitor  actual costs throughout the project.  - Analyze TCO considerations Trying to maintain high quality  while not losing managerial  control  - Carry out quality planning, assurance and  control continuously to ensure the outsourcing  company is not violating the terms of the  contract Schedule management  - Track work breakdown and identify the critical  path tasks relating to the project - They should also create clear milestones of key  deliverables  Risk Management  - Perform a risk analysis of the project  (probability, consequence and visibility) and  develop response and recovery practices - Use IT systems to make the risks and problems  more visible  Rev’d for MISM 2301 by md Spring 2018 Page 6
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