IS 378 UNLV Final Exam

the possibility of loss or damage that impedes project success
risk management helps to
identify, evaluate, and response to plan for a solution
risk management helps
realize management insight about risk occurrence and planning and to estimate and prepare resources necessary to alleviate the consequence
step 1 of risk management
identify risk- determine the type and the level of potential risks for a project
step 2 of risk management
quantity risk- evaluate the range of possibilities
step 3 of risk management
prepare response- describe the steps to be taken and the resources to be used if a risk occurs
step 4 of risk management
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
risk identification
the process of understanding what potential unsatisfactory outcomes are associated with a particular project
risk identification tools
brainstorming, swot, delphi technique, information gathering, risk breakdown structure, scenario planning, checklist, interview, expert judgement
risk quantification/analysis
process of evaluating risks to assess the range of possible project outcomes
risk quantification/analyses determines
the risk’s probability of occurrence and its impact to the project if the risk does occur
risk quantification techniques
expected monetary value analysis, calculation of risk factors, PERT estimations, simulations, and expert judgement
risk avoidance
eliminating a specific threat or risk, by eliminating its causes
risk acceptance
accepting the consequences should a risk occur
risk mitigation
reducing the impact of a risk event by reducing the probability of its occurrence
risk taker
individual or organization tend to take higher and more frequent risks.
risk avoiders
individual or organization tend to avoid risk and are very cautious when making decisions.
Neither risk taker or risk avoider
They tend to take risks when they feel it is really necessary.
When does outsourcing happen
when a number of activities needed for development of products and services are carried out by a provider outside the organization
factors that influence outsourcing IT services
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
when does offshoring happen
when a number of organizational activities are delegated to a foreign company
what is outsourcing driven by
need to focus on an organization’s core competencies
what is offshoring driven by
problem of resource scarcity
factors that influence offshoring
Bandwidth growth and telecommunication, scarce human expertise, increased demand, innovation, imitation, available global talents
risks in offshore outsourcing
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
Important skills for outsourcing
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
project failure
runs over budget or it completes beyond the projected time or doesn’t meet specifications
IT Eval methods
Impact Analysis
Measure of Effectivness
User Satisfaction
reasons for project failure
human issues, technical limitations, political game play, funding issues, leadership issues
Reason for Failure
Human Issues
Technical Limitation
Political GamePlay
human issues
employee turnover, conflict, motivation
technical limitations
incompatible hardware and software platforms, limited bandwidth for data transfer, inadequate response time
political game play
by the individual to gain rewards, by the team to create rivalry, but the project manager to control
funding issues
erroneous estimates, poor budgetary control and run away costs
leadership issues
in dealing with people, in dealing with technology, in dealing with processes
Critical Success Factors
– Understand what business is about
Expectation MGT
-Correspondence between developers and sponsors
MGT Changing Requirements
– Change in MGT Committee
balance between desired and actual involvement
actual involvement exceeds desires involvement
desired involvement exceeds actual involvement
project participation
initiation, planning, developing, implementation, closing
measures of usefulness include
task productivity
task innovation
customer satisfaction
management control
projects that must be closed
when the outcome is delivered
a failed project
a deadlocked project
Project Closure Activities
Administrative Closure
Performance Appraisal
Project Audit
administrative closure
activities that muse be addressed in the project closure plan–identifying tasks necessary to close the project
project closure tasks
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
Closure Tasks
Project Account Close
– Outside vendors
Vendors evaluation
– Responsive
– Reliable
Obtain Delivery Acceptance from customers
Equipment and facility release
Personnel Release
performance appraisal
to evaluate contribution that individuals make to project successes
project audit
done during and after a project is complete..doing the right thing–taking a look at project success issues
Project Audit
During and after project
Did we do the right thing?
What adjustments are necessary?
Project Success/Issues
Learn from mistakes
Characteristic of Audit Leader
independence, integrity, business knowledge, project knowledge, understanding business processions
What is risk?
The possibility of loss or damage that impedes project success
Risk Management
Identify risk, evaluates potential damage, and a solution.
Benefits of Risk MGT
Psychological: Team members realize insight of possible risks and the plan

Helps estimate and prepare resources in the event of a risk

Top MGT Support
MGT relationship with PM
MGT perception of project importance
Risk MGT Steps
Identify Risk
Quantify Risk
Prepare Response
Monitor Response
Risk Planning
A risk Management Document for procedures of managing the risk
Contingency Plan
Predefined actions is risk occurs
Contingency Reserves
Provisions held by project sponsor for possible changes in scope
Outside provider carries out services or development of products
When outsourcing takes place outside of the originating country, driven by resource scarcity
Offshored Activities
IT Enabled Services
Software Architecture
Call Centers
Project Failure
Goes over budget
Goes over time
Doesnt meet specifications
Categories of failure
Business Ethos
Failure/Success Factors
Skilled Staff
Support System
MGT Support
User Satisfaction
Project MGT
Corporate Culture

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