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[answered] BITP 3223 Software Project Management Group Assignment 4 1


may i know what is the answer for part 1 question 7 a-e?can you give me the explanation as well thank you.


BITP 3223 Software Project Management

 

Group Assignment 4 1 2 Project WBS Gantt chart 3 Critical Path (the red line) True/False

 

1. Failure to follow a formal risk management plan will often cause organizations to be reactive

 

and find themselves in a state of perpetual crisis, a condition known as crisis management.

 

True

 

2. The best time to plan for risk is during the project execution phase when risk can be assessed

 

most accurately.

 

False

 

3. Effective project risk management requires that each risk have an owner.

 

True

 

4. In general, because of the similarities in IT projects, one can manage all projects and risks in

 

the same manner.

 

False

 

5. Project risk management focuses solely on the downside that results from unexpected

 

problems or threats.

 

False 4 Structure Question

 

1. What is project risk?

 

Project risk is an unexpected event or condition that, if it occurs has an effort on at least not

 

achieving a defined project goal.

 

2. What is project risk management?

 

Project risk management focuses on identifying, responding to and controlling the risks to the

 

project and managing those risks to minimize the impact on the project. Failure to conduct

 

good risk management can result in delayed completion schedule, budget and project failure.

 

3. Why can identifying IT project risks be difficult?

 

1. Project manager is not having a sample or general list of risk to identify the project

 

risk.

 

2. Brainstorming sessions with team members from different departments are not

 

occurred.

 

3. Project manager did not have a skill to make the limited budget and also minimize the

 

risks within a project.

 

4. Infrequently new technology or products that will risk a project.

 

5. Without knowledge to provide accurate estimates timescale.

 

6. Lack of experienced staff documenting the requirements.

 

4. What is SWOT analysis? How can this technique be used to identify IT project risks?

 

?

 

? SWOT analysis is stands for Strengths, Weaknesses, Opportunities, and Threats

 

acronyms.

 

This technique will looks at the project from the perspective of its internal strengths and

 

internal weaknesses to the organization as well as external opportunities and threats by

 

the environment to the organization. 5. What is the difference between an internal and external risk? Give an example of each.

 

Internal risk

 

External risk

 

Risks arising from the events taking place Risks arising from the events taking place

 

within the organization which can be outside the organization which cannot be

 

controlled.

 

controlled.

 

Example: human factors, technological factors Example: economic factors, natural factors and

 

and physical factors.

 

political factors.

 

Human factors are ineffective management or Economic risk is changes in market conditions

 

leadership and unskilled employees.

 

such as pricing pressure.

 

Technological risk is emerging technologies.

 

Natural risk is natural disasters such as floods

 

5 and earthquakes.

 

Physical risk is the loss or damage to the assets Political risk is changes in political

 

of a company such as failure of machines and environment

 

such

 

as

 

regulations

 

of

 

fire.

 

government. 6

 


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