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Mitigating IT Project Risks: A Comprehensive Guide

Learn strategies to assess and control risks in IT projects effectively. Discover why even well-planned projects encounter challenges and how to overcome them. Visit http://www.project-training-uk.freeserve.co.uk/page1.htm for valuable insights.

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Mitigating IT Project Risks: A Comprehensive Guide

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  1. IT Project Risk Assessment and Control

    Or…..

  2. Why bad things happen to good IT projects

    If everything is going exactly to plan, something somewhere is going massively wrong. http://www.project-training-uk.freeserve.co.uk/page1.htm
  3. What is a Project? “a temporary endeavor undertaken to create a unique product, service, or result.” PMBOK® p. 5
  4. Characteristics of a Project PMBOK® Temporary Unique Product, Service, or Result Progressive Elaboration What is the difference between projects and operational work?
  5. What is Project Management? “the application of knowledge, skills, tools, and techniques to project activities to meet project requirements” PMBOK® p. 8
  6. Project Management Includes... PMBOK p. 8 Identify requirements Establish clear and achievable objectives Balance competing demands for quality, scope, time, and cost. Adapt the specifications, plans, and approach to the different concerns and expectations of the various stakeholders.
  7. Why Study Risk Management? If you don't attack the risks, the risks will attack you. http://www.project-training-uk.freeserve.co.uk/index.htm
  8. Why Study Risk Management? “What’s worse than having a pricey project collapse? Knowing it could have been prevented” http://www.pmi.org/Pages/Risk_Identification.aspx Risk management key element of project management. This July (2008), PMI launched the Risk Management Professional (PMI-RMP)SM credential.
  9. Why Study Risk and IT? http://ravenyoung.spaces.live.com/blog/cns!17376F4C11A91E0E!1574.entry http://www.lessons-from-history.com/Level%202/Project%20Success%20or%20Failure.html http://www.nist.gov/public_affairs/releases/n02-10.htm http://infotech.fanshawec.ca/gsantor/Computing/FamousBugs.htm http://www.it-cortex.com/Stat_Failure_Cause.htm http://blog.brodzinski.com/2007/03/chaos-report-2006.html
  10. Why Study Risk and IT? http://ravenyoung.spaces.live.com/blog/cns!17376F4C11A91E0E!1574.entry http://www.lessons-from-history.com/Level%202/Project%20Success%20or%20Failure.html http://www.nist.gov/public_affairs/releases/n02-10.htm http://infotech.fanshawec.ca/gsantor/Computing/FamousBugs.htm http://www.it-cortex.com/Stat_Failure_Cause.htm http://blog.brodzinski.com/2007/03/chaos-report-2006.html
  11. Why Study Risk and IT? Complexity Ambiguity/Intangible 90% Syndrome http://magheap.com/article/20636/On-Our-Project-Were-Always-90-Done.aspx
  12. What are the Project Life Cycle Phases? Wild enthusiasm Disillusionment Confusion Panic Search for the guilty Punishment of the innocent Promotion of the non-participants http://www.project-training-uk.freeserve.co.uk/page2.htm
  13. Project Life Cycle Phases, according to PMBOK® Initiation Planning Executing Monitoring and Controlling Closing
  14. Project Life Cycle and Product Life Cycle
  15. Sources of Risks Practices / Processes (following a bad process or badly following a good process) http://www.youtube.com/watch?v=OfgfnZZdMlI&NR=1 Technology http://www.youtube.com/watch?v=kvBiSW5QFKY People http://www.youtube.com/watch?v=HDu5Wo8Yh1k
  16. Project Management Knowledge AreasPMBOK® Project Integration Management Project Scope Management There is no such thing as scope creep, only scope gallop. Project Time Management "I love deadlines. I love the whooshing noise they make as they go by.“ Douglas Adams Project Cost Management Project Quality Management If an IT project works the first time, it is wrong. http://www.project-training-uk.freeserve.co.uk/page2.htm
  17. Project Management Knowledge AreasPMBOK® Project Human Resource Management Managing IT people is like herding cats. Project Communications Management Project Risk Management Project Procurement Management http://www.project-training-uk.freeserve.co.uk/page2.htm
  18. Common Laws and Principles Associated with Project Management Murphy’s Law If it can go wrong, it will Parkinson’s Law Work expands to fill the time available for its completion 80/20 Principle What 20% sources of risk are causing 80% of your project problems
  19. More Laws and Principles O’Malley’s corollary to Murphy’s Law - If it can’t possibly go wrong, it will. Sod’s Law - It will go wrong in the worst possible way. If there is a 50% chance of something going wrong then 9 times out of 10 it will. A two year project will take three years, a three year project will never finish - (anyone know who's law this is?) Murphy, O'Malley, Sod and Parkinson are alive and well - and working on your project. http://www.project-training-uk.freeserve.co.uk/page2.htm
  20. Sources of Risks Practices / Processes (following a bad process or badly following a good process) http://www.youtube.com/watch?v=OfgfnZZdMlI&NR=1 Technology http://www.youtube.com/watch?v=kvBiSW5QFKY People http://www.youtube.com/watch?v=HDu5Wo8Yh1k
  21. References Information Technology Project Management, 4th edition. Kathy Schwalbe Murphy’s and Parkinson’s Law The 4-Hour Workweek, Timothy Ferriss 80/20 Principle “Understanding the ‘90% Syndrome’ in Software Project Management : A Simulation-Based Case Study” the Journal of Systems and Software (8:4), 1988, pp. 319-330.
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