IS 378 UNLV Final Exam – Flashcards
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Risks
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the possibility of loss or damage that impedes project success
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risk management helps to
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identify, evaluate, and response to plan for a solution
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risk management helps
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realize management insight about risk occurrence and planning and to estimate and prepare resources necessary to alleviate the consequence
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step 1 of risk management
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identify risk- determine the type and the level of potential risks for a project
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step 2 of risk management
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quantity risk- evaluate the range of possibilities
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step 3 of risk management
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prepare response- describe the steps to be taken and the resources to be used if a risk occurs
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step 4 of risk management
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monitor response- make sure appropriate actions are taken in response to a risk and report on potential risks that could occur throughout the project development life cycle
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risk identification
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the process of understanding what potential unsatisfactory outcomes are associated with a particular project
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risk identification tools
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brainstorming, swot, delphi technique, information gathering, risk breakdown structure, scenario planning, checklist, interview, expert judgement
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risk quantification/analysis
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process of evaluating risks to assess the range of possible project outcomes
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risk quantification/analyses determines
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the risk's probability of occurrence and its impact to the project if the risk does occur
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risk quantification techniques
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expected monetary value analysis, calculation of risk factors, PERT estimations, simulations, and expert judgement
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risk avoidance
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eliminating a specific threat or risk, by eliminating its causes
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risk acceptance
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accepting the consequences should a risk occur
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risk mitigation
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reducing the impact of a risk event by reducing the probability of its occurrence
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risk taker
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individual or organization tend to take higher and more frequent risks.
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risk avoiders
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individual or organization tend to avoid risk and are very cautious when making decisions.
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Neither risk taker or risk avoider
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They tend to take risks when they feel it is really necessary.
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When does outsourcing happen
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when a number of activities needed for development of products and services are carried out by a provider outside the organization
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factors that influence outsourcing IT services
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transaction cost economics, inadequate internal expertise, Rapid technology change, Poor charge back systems for IS service, management imitation, management innovation, increased demand, changing goals and objectives
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when does offshoring happen
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when a number of organizational activities are delegated to a foreign company
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what is outsourcing driven by
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need to focus on an organization's core competencies
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what is offshoring driven by
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problem of resource scarcity
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factors that influence offshoring
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Bandwidth growth and telecommunication, scarce human expertise, increased demand, innovation, imitation, available global talents
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risks in offshore outsourcing
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decline in employee morale, loss of innovation and know how, public reaction to corporate citizenship, quality control and standard, communications and culture, regional instability of host country
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Important skills for outsourcing
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contract negotiation and management, partnering and relationship management, planning and integration, business process redesign, enterprise needs analysis and testing, security and privacy planning, contingency planning
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project failure
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runs over budget or it completes beyond the projected time or doesn't meet specifications
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IT Eval methods
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Impact Analysis Measure of Effectivness Objective User Satisfaction Usage Utility Standards Usability Flexibility
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reasons for project failure
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human issues, technical limitations, political game play, funding issues, leadership issues
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Reason for Failure
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Human Issues Technical Limitation Political GamePlay Funding Leadership
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human issues
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employee turnover, conflict, motivation
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technical limitations
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incompatible hardware and software platforms, limited bandwidth for data transfer, inadequate response time
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political game play
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by the individual to gain rewards, by the team to create rivalry, but the project manager to control
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funding issues
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erroneous estimates, poor budgetary control and run away costs
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leadership issues
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in dealing with people, in dealing with technology, in dealing with processes
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Critical Success Factors
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Participation - Understand what business is about Expectation MGT -Correspondence between developers and sponsors MGT Changing Requirements - Change in MGT Committee
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equilibrium
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balance between desired and actual involvement
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saturation
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actual involvement exceeds desires involvement
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deprivation
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desired involvement exceeds actual involvement
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project participation
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initiation, planning, developing, implementation, closing
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measures of usefulness include
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task productivity task innovation customer satisfaction management control
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projects that must be closed
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when the outcome is delivered a failed project a deadlocked project
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Project Closure Activities
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Administrative Closure Performance Appraisal Project Audit
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administrative closure
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activities that muse be addressed in the project closure plan--identifying tasks necessary to close the project
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project closure tasks
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project accounts closure, outside vendors should be evaluated for, obtaining delivery acceptance from the customer, equipment and facility release, project personnel release, acknowledgements and awards
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Closure Tasks
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Project Account Close - Outside vendors Vendors evaluation - Responsive - Reliable Obtain Delivery Acceptance from customers Equipment and facility release Personnel Release Awards
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performance appraisal
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to evaluate contribution that individuals make to project successes
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project audit
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done during and after a project is complete..doing the right thing--taking a look at project success issues
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Project Audit
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During and after project Did we do the right thing? What adjustments are necessary? Project Success/Issues Prevention Learn from mistakes
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Characteristic of Audit Leader
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independence, integrity, business knowledge, project knowledge, understanding business processions
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What is risk?
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The possibility of loss or damage that impedes project success
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Risk Management
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Identify risk, evaluates potential damage, and a solution.
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Benefits of Risk MGT
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Psychological: Team members realize insight of possible risks and the plan Helps estimate and prepare resources in the event of a risk
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Top MGT Support
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MGT relationship with PM MGT perception of project importance
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Risk MGT Steps
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Identify Risk Quantify Risk Prepare Response Monitor Response
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Risk Planning
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A risk Management Document for procedures of managing the risk
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Contingency Plan
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Predefined actions is risk occurs
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Contingency Reserves
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Provisions held by project sponsor for possible changes in scope
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Outsourcing
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Outside provider carries out services or development of products
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Offshoring
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When outsourcing takes place outside of the originating country, driven by resource scarcity
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Offshored Activities
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Programming IT Enabled Services Software Architecture Call Centers
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Project Failure
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Goes over budget Goes over time Doesnt meet specifications
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Categories of failure
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Correspondence Process Interaction Expectation Business Ethos
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Failure/Success Factors
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Skilled Staff Support System MGT Support User Satisfaction Project MGT Corporate Culture Communication Training
