Hardware Replacement Project Case Study
Hardware Replacement Project Steve Smithers
How do the five major variables of project management—scope, time, cost, quality, and risk—relate to this scenario?
Time – This would be the amount of time required to complete the project. Typically it is broken down into the time required to complete the components of the project. This is then broken down into the time required to complete each task contributing to the completion of the project
Cost - Cost will typically be determined by the consultant or contractors hourly rate multiplied by an estimated time to complete the project on time or if it is late.
Quality - The amount of time put into individual tasks determines the overall quality of the project. Some tasks may require …show more content…
Most risks or potential failures can be overcome or resolved, given enough time and resources.
Three of these variables can be given by external or internal customers. The value(s) of the remaining variable are then set by project management, ideally based on solid estimation techniques. The final values have to be agreed upon in a negotiation process between project management and the customer. Usually, the values in terms of time, cost, quality and scope are contracted.
To keep control over the project from the beginning of the project all the way to its natural conclusion, a project manager uses a number of techniques: project planning, earned value, risk management, scheduling and process improvement.
What considerations must be applied when selecting projects that deliver the best business …show more content…
As a manager it is there responsibility to do the best to minimize the risk in projects, but to minimize it as soon as possible. Some of the factors would be project size, project structure, and the level of technical expertise of the information systems staff and project team. The first step in managing the risk of a project is to review the situation. By identifying all of the risks that you think are possible in the project. The review should include factors for the project such as resource changes, failures, and sponsor availability. All of the external factors such as a change in company direction or a change of technology direction. Most of all it should include the things that are new in the project. If the project is working with a new technology, new development methodology, or even if there are new team members, these need to be listed as potential risks to the project. The purpose of the review phase isn't to classify the risk or identify its importance. The goal is to collect all the risks. Once there is a complete list of potential risks, it’s time to evaluate them. Each risk should be evaluated based both on its probability and the impact that it would cause if it happens. The loss of a key team member may not have any affect. However, the impact to the project could be great if the team member plays a key role in the project. The other factor to evaluate when looking at a risk is its
How do the five major variables of project management—scope, time, cost, quality, and risk—relate to this scenario?
Time – This would be the amount of time required to complete the project. Typically it is broken down into the time required to complete the components of the project. This is then broken down into the time required to complete each task contributing to the completion of the project
Cost - Cost will typically be determined by the consultant or contractors hourly rate multiplied by an estimated time to complete the project on time or if it is late.
Quality - The amount of time put into individual tasks determines the overall quality of the project. Some tasks may require …show more content…
Most risks or potential failures can be overcome or resolved, given enough time and resources.
Three of these variables can be given by external or internal customers. The value(s) of the remaining variable are then set by project management, ideally based on solid estimation techniques. The final values have to be agreed upon in a negotiation process between project management and the customer. Usually, the values in terms of time, cost, quality and scope are contracted.
To keep control over the project from the beginning of the project all the way to its natural conclusion, a project manager uses a number of techniques: project planning, earned value, risk management, scheduling and process improvement.
What considerations must be applied when selecting projects that deliver the best business …show more content…
As a manager it is there responsibility to do the best to minimize the risk in projects, but to minimize it as soon as possible. Some of the factors would be project size, project structure, and the level of technical expertise of the information systems staff and project team. The first step in managing the risk of a project is to review the situation. By identifying all of the risks that you think are possible in the project. The review should include factors for the project such as resource changes, failures, and sponsor availability. All of the external factors such as a change in company direction or a change of technology direction. Most of all it should include the things that are new in the project. If the project is working with a new technology, new development methodology, or even if there are new team members, these need to be listed as potential risks to the project. The purpose of the review phase isn't to classify the risk or identify its importance. The goal is to collect all the risks. Once there is a complete list of potential risks, it’s time to evaluate them. Each risk should be evaluated based both on its probability and the impact that it would cause if it happens. The loss of a key team member may not have any affect. However, the impact to the project could be great if the team member plays a key role in the project. The other factor to evaluate when looking at a risk is its