Read the scenario below and answer ALL the questions that follow. You work for a software development company. Your software development team is working on a complex program that involves integrating multiple systems. One potential risk is that a critical system may fail, which could cause delays and increase costs. Your job is to mitigate this possible risk and other project risks, and to evaluate the impact on the project’s scope, timeline and budget. You may then be required to develop a contingency plan that includes regular testing of the integrated systems and a process for quickly identifying and resolving issues. Choose any company as you see fit to contextualize the foregoing scenario of project risk.
QUESTION 1(20 Marks)
Risk management is about maximizing your chances of project success by identifying risks early on and planning how to manage them. Of the seven (7) examples of project risks that you have studied, identify AT LEAST FIVE (5) that are applicable to your project and contextualize each one through your discussion.
QUESTION 2
An approach of identifying project risks is to establish risk categories. Present the risk categories and the associated risks within each category as applicable to your project.
QUESTION 3
The Plan Risk Response Process is designed to ensure that project risks are mitigated against effectively. Appraise the Plan Risk Response Process in the context of your project.
QUESTION 4
There are various techniques for identifying project risks that you are studied. Appraise how the use of the Delphi Method technique to analyze your project risks could have been used effectively.
QUESTION 5
Use the risk assessment process and contextualize your project risks. The step by step risk assessment process needs to be presented precisely to show how you will go about assessing your project risks.
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