Question 3: Based on the project classification categories and the risk management aspect of project management as described within appendix K (“Managing IS Projects”) of the textbook, how would you classify a project to replace the Unity AR/VR software engine? Based on your categorization, list the major risks involved, the likelihood they will occur (in your opinion), their potential impact, and your recommended response. Strategic Category Project that is meant to provide a competitive advantage to the organization Risk involved Software or hardware failure Unforeseen change in raw material prices Lead programmer leaving the company Likelihood they will occur Software or hardware failure: High likelihood Unforeseen change in raw material prices: Middle likelihood Lead programmer leaving the company: Low likelihood Potential impact Software or hardware failure: May take longer and costly to implement the software Unforeseen change in raw material prices: May be costly to implement the software Lead programmer leaving the company: The implementation of the project will be stop, and will take longer to implement Recommended response Mitigation: Reducing the risk by taking action before they occur (Backup programmer or having another provider for the raw materials) Transference: Passing the risk to another party such as outsourcing the project management
Lessons Learned How important is to consider the similarities and differences of a COTS and Custom-built Software for decision-making purposes How to provide recommendations about systems software that best fit
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