SPM NOTES FOR MCA STUDENTS AND IT IS ALSO USE FUL FOR MSC COMPUTER SCIENCE STUDENTS

SPM

1. UNIT 4

2. RISK

3. Sources of risk Misunderstanding of customer requirements Uncontrolled and continuous changing of customer requirements Unrealistic promises given to the customers Miscalculation of team work and group effectiveness Wrong budget estimation Misunderstanding of real impact of new methodologies

4. RISK MANAGEMENT It involves identifying and estimating the probability of risks. If (risk is avoidable) { Risk mitigation Risk monitoring } Else { Risk management }

5. RISK IDENTIFICATION Done by project manager Should be identified in the early stage Brainstorming, Swot Analysis, Causal Mapping

6. Causal mapping Inexperienced staff Low productivity Deadlines met missed Heavy management pressure Low satisfaction of employees

7. RISK ANALYSIS Identify the problems Identifying the probability of occurrence of problems Identifying the impact of the problem

8. Risk analysis probability 0-10% very low 10-25% Low 25-50% moderate 50-75% high +75% (very high) impact Tolerable risk (no harm) Minor effect Medium risk(impact on time) High risk(impact on time and budget) Intolerable risk(impact on output,time,budget and performance

9. RISK REDUCTION Risk mitigation- identify which type of risk produced and how to avoid that risk Communicate with staffs Removing causes Develop policy Check the risk sheet Conducting feedback

10. RISK REDUCTION Risk monitoring- checking risk happened/not Ensuring proper application of risk avoidance method

11. COST SCHEDULE Calculation of cost weekly or monthly Costs are categorized into: Staff cost Overheads Usage charges

12. RESOURCE SCHEDULE Process of prioritizing and allocating resources Resources involved: Human resource Raw material Machines equipments

13. Steps involved: Identifying the resources Allocation of resources Identification of requirements that need throughout the project.

14. Methods: Time constrained resource scheduling Resource constrained resource scheduling

15. Project evaluation PERT(PROJECT EVALUATION & REVIEW TECHNIQUE) 1) optimistic time estimate(T0) 2)pessimistic time estimate( Tp ) 3)most likely time estimate(Tm) Expected time estimate=T0+Tp+4Tm/6 Standard deviation= Tp-T0/6

16. Resource allocation

17. Visualizing progress Gantt chart

18. Slip chart

19. Ball chart

20. Scheduling sequences