Risk Response Planning
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· After identifying and quantifying risk, you must decide how to respond to
them.
· Four main strategies:
o Risk avoidance: eliminating a specific threat or risk, usually by eliminating
its causes.
o Risk acceptance: accepting the consequences should a risk occur
without trying to control it.
o Risk transference: shifting the consequence of a risk and responsibility for
its management to a third party internal or external to the organization.
o Risk mitigation: reducing the impact of a risk event by reducing the
probability of its occurrence.
Cost Budgeting Process
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· Presents to the stakeholders, management, and project team the entire
picture of costs for the project taking into account all of the following cost
categories:
o Direct and indirect,
o Recurring and nonrecurring,
o Fixed and variable,
o And all life cycle costs
ISO Quality Management Principles
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, · Customer Focus - organizations rely on their customers, they must
understand customer needs, they must meet customer requirements, and
they must exceed customer expectations
· Provide Leadership - leaders must establish a unity of purpose and set the
direction for the organization using a unified mission and vision. They must
create an environment that encourages people to achieve the
organization's objectives
· Involvement of People - the organization must involve people from all
levels to promote ownership and support
· Use a Process Approach - each and every activity within the organization
must be managed as a process leading to a more predictable outcome
lowering costs and cycle time
· Take a Systems Approach - approach each activity with the knowledge of
how each and every process affects and is affected by other processes in
the organization
· Encourage Continual Improvement - organizations must create a
permanent process which encourages continual improvement not a one
and done approach
· Factual Approach to Decision Making - decision making should be based
on actual, reliable, and current data
· Mutually Beneficial Supplier Relationships - organizations are dependent
on their suppliers to be successful so they should foster a relationship built
on trust and information sharing to create value for both parties
Importance of Good Communications
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· Effective communications is paramount to success on all projects
especially IT projects due largely to the language gap
· Strong verbal skills are a key factor in career advancement for IT
professionals
· It has been estimated that as much as 90% of a project manager's time is
spent in some form of communication
· Medium - communication transport (email, phone, ...)
· Encode - translate thoughts into language
· Message - output of encoding
, · Noise - anything that interferes with the transmission and understanding of
the message
· Decode - translate message into meaningful thoughts or ideas
Quality Management Terms
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· Cost of quality - total costs incurred to prevent a faulty product or
development of a system that does not meet system requirements. Costs
include - assessments, rework, lost time, injury, and death.
o Prevention costs - up-front costs associated with satisfying customer
requirements (design reviews, all forms of system testing, training, surveys,
etc.)
o Appraisal costs - costs associated with assuring that all requirements
have been met (customer acceptance tests, demonstrations, lab tests, etc.)
· Cost of non-conformance - total costs incurred by an organization
because the product does not meet user requirements for example, rework
or poor user productivity
· Internal failure costs - costs associated with system defects before a
system if fully deployed (scrap and rework)
· External failure costs - costs associated with system defects after fully
deployed (scrap, rework, returns, market share, lawsuits, etc.)
· Rework - due to poor quality the same task must be repeated to correct
an identified error
· Fitness for use - the product can be used as it was originally intended
· Conformance to requirements/specifications - the product conforms to
the written specifications
· Reliability - the probability of the product performing as specified without
failure over a set period of time
· Maintainability - the time and expense needed to restore the product to
an acceptable level of performance after the product has failed or began a
trend toward failure
Schedule Development deliverable
Give this one a try later!
· After identifying and quantifying risk, you must decide how to respond to
them.
· Four main strategies:
o Risk avoidance: eliminating a specific threat or risk, usually by eliminating
its causes.
o Risk acceptance: accepting the consequences should a risk occur
without trying to control it.
o Risk transference: shifting the consequence of a risk and responsibility for
its management to a third party internal or external to the organization.
o Risk mitigation: reducing the impact of a risk event by reducing the
probability of its occurrence.
Cost Budgeting Process
,Give this one a try later!
· Presents to the stakeholders, management, and project team the entire
picture of costs for the project taking into account all of the following cost
categories:
o Direct and indirect,
o Recurring and nonrecurring,
o Fixed and variable,
o And all life cycle costs
ISO Quality Management Principles
Give this one a try later!
, · Customer Focus - organizations rely on their customers, they must
understand customer needs, they must meet customer requirements, and
they must exceed customer expectations
· Provide Leadership - leaders must establish a unity of purpose and set the
direction for the organization using a unified mission and vision. They must
create an environment that encourages people to achieve the
organization's objectives
· Involvement of People - the organization must involve people from all
levels to promote ownership and support
· Use a Process Approach - each and every activity within the organization
must be managed as a process leading to a more predictable outcome
lowering costs and cycle time
· Take a Systems Approach - approach each activity with the knowledge of
how each and every process affects and is affected by other processes in
the organization
· Encourage Continual Improvement - organizations must create a
permanent process which encourages continual improvement not a one
and done approach
· Factual Approach to Decision Making - decision making should be based
on actual, reliable, and current data
· Mutually Beneficial Supplier Relationships - organizations are dependent
on their suppliers to be successful so they should foster a relationship built
on trust and information sharing to create value for both parties
Importance of Good Communications
Give this one a try later!
· Effective communications is paramount to success on all projects
especially IT projects due largely to the language gap
· Strong verbal skills are a key factor in career advancement for IT
professionals
· It has been estimated that as much as 90% of a project manager's time is
spent in some form of communication
· Medium - communication transport (email, phone, ...)
· Encode - translate thoughts into language
· Message - output of encoding
, · Noise - anything that interferes with the transmission and understanding of
the message
· Decode - translate message into meaningful thoughts or ideas
Quality Management Terms
Give this one a try later!
· Cost of quality - total costs incurred to prevent a faulty product or
development of a system that does not meet system requirements. Costs
include - assessments, rework, lost time, injury, and death.
o Prevention costs - up-front costs associated with satisfying customer
requirements (design reviews, all forms of system testing, training, surveys,
etc.)
o Appraisal costs - costs associated with assuring that all requirements
have been met (customer acceptance tests, demonstrations, lab tests, etc.)
· Cost of non-conformance - total costs incurred by an organization
because the product does not meet user requirements for example, rework
or poor user productivity
· Internal failure costs - costs associated with system defects before a
system if fully deployed (scrap and rework)
· External failure costs - costs associated with system defects after fully
deployed (scrap, rework, returns, market share, lawsuits, etc.)
· Rework - due to poor quality the same task must be repeated to correct
an identified error
· Fitness for use - the product can be used as it was originally intended
· Conformance to requirements/specifications - the product conforms to
the written specifications
· Reliability - the probability of the product performing as specified without
failure over a set period of time
· Maintainability - the time and expense needed to restore the product to
an acceptable level of performance after the product has failed or began a
trend toward failure
Schedule Development deliverable
