understanding of concepts presented in Chapter 7 These include Definition of

Understanding of concepts presented in chapter 7

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understanding of concepts presented in Chapter 7: These include Definition of risk; Examples of project risks; Key elements of risk; Risk management; Risk planning; Categories of risk; Risk register; Framework for dealing with risk; Contingency plan Definition PM- BOK defines risk as “an uncertain event or condition that, if it occurs, has a positive or negative effect on a project’s objectives”, and PRINCE2, defines risk as, “ the chance of exposure to the adverse consequences of future events”. Project risks Project risks could prevent achievement of the objectives given to the project manager and the project team. Project objectives in software projects are the targets that the project team is expected to achieve: Delivering the agreed functionality, to the required level of quality, on time and within budget. Examples of project risks that could prevent achievement of the objectives: Resources such as developers required for coding the modules leaving the organization for better-paid jobs and replacements not recruited or inexperienced; Time (deadlines) and how long each task takes to complete; Budget related - increase in development costs ; Technology risk relates to the appropriateness of the technology and possible faults. Could relate to resources such as developers required for coding the modules leaving the organization for better-paid jobs and replacements not recruited or inexperienced; Time (deadlines) and how long each task takes to complete; Budget related; Technology risk relates to the appropriateness of the technology and possible faults. Business risk example: An application after implementation is a failure. For example, implemented site is not used. This means that the project objective is not met by the team. Key elements of risk 1. Risk relates to the future The future is inherently uncertain. It involves cause and effects 2. Risk involves cause and effects Risk management (P173, Chapter 7) The boundary between risk management and normal software project management is hazy. The key role of risk management is considering the uncertainty remaining after a plan has been formulated. A plan is based on assumptions. Risk management: Plan for and control the situations where the assumptions become incorrect. Risk planning Risk planning is carried out primarily in STEPS 3 and 6 of STEPWISE (Figure 7.1, Chapter 7). Categories of risk sociotechnical model of risk The Sociotechnical model of risk categorizes risks into actors, structure, tasks and technology (Figure 7.2, Chapter 7). Actors : All people involved in the development of the application. Examples high staff turnover; Loss of expertise required by project Technology : technology used to implement the application; technology embedded in the product the appropriateness of the technology; possible faults. Structure: Management structure and systems for planning and control. If user participation is required, the users’ contribution not to be managed, and clearly allocated.
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