Undertaking any project, whether in-house or in partnership with a professional services firm, entails risk. Project risk is defined as any area of concern that could prevent a project from achieving all of its benefits. Project risk requires careful management and involves identification, assessment, and mitigation.
It is important at the beginning of any project to go through the risk identification process. Not all project risks are obvious. When identifying risks, look for areas in the project that are based on:
1. insufficient or unreliable data,
2. insufficient preparation,
3. inadequate resources, or
4. lack of control.
Some areas to pay close attention to are:
• Requirements identification
• Involvement of project sponsorship
• Level of project management experience
• Third-party involvement
• Political/cultural environment
• Change control procedures and management
• Complexity of the technology
Risk identification is only the first step. Risks need to be assessed to quantify and prioritize them according to their impact on the project. Keep in mind significant professional judgment is required during the assessment process to quantify the magnitude of potential negative impact and to develop risk control measures. The assessment process should determine the (1) likelihood of the risk occurring, (2) range of outcomes, (3) estimated timing of the risk, and (4) the frequency with which it will occur. It should also determine the warning signs of the risk that will forecast that the occurrence of the risk is imminent. The prioritized risks provide the basis for establishing Project Success Factors (PSFs). Specific action plans are developed to address each PSF. For example, assume that required key policy changes are a high risk. An action plan must be developed to:
• Focus on thorough and frequent communications
• Implement a steering committee structure
• Obtain strong support for the project team from executive
management
• Stress the benefits of the project
• Identify training needs early
Once risks have been identified and assessed, mitigation plans should be developed. The plans document what the response will be when a risk event occurs. Keep in mind a mitigation plan might be to do nothing to mitigate the risk. The need is to accept that a risk exists and be prepared to deal with the consequences when and if it happens. This type of action plan typically applies to low priority/minimal project impact risks. A mitigation plan should outline Plan B for the project area impacted by the risk. Knowing what Plan B is prior to having to execute it will greatly reduce the probability of increasing the negative impact of the risk event or causing other unknown risks to occur.
An effective risk project management process means choosing and implementing risk-control strategies that work. Identifying, assessing, and developing mitigation plans are not one-time events. These processes need to occur throughout the life of the project. As the project progresses and project risk changes occur, documentation resulting from the identification, assessment, and mitigation planning processes need to be updated.
The risk management process must be continuous.
The Art Of Project Management
Every project should have a quality plan. In reality, very few do. The two main reasons people don't produce a project quality plan are: It's too complicated and they are overwhelmed by the jargon of quality in relation to compliance with standards, metrics and a range of acronyms. So let's break this down into more simple terms to get a better understanding of how to run a plan. First off, what is quality? This definition will vary in every organization depending on their goals and mission.
Quality has been defined by J.M. Juran simply as “fit for use”. H. James Harrington states “Quality is meeting or exceeding customer expectations at a cost that represents a value to them”. Generally speaking we could all agree that the definition is to make sure whatever is delivered is within the quality expectations of the organization.
If the quality of your goods and services are below acceptable quality standards you are on the fast track to closing shop. When your organization under performs there are consequences. Keeping an eye on quality will prevent any serious fatal mistakes. A project quality plan will help you know what you need to measure, what the acceptable outcomes are, and how to accomplish all of this.A project quality plan is how and when "Quality Events" and "Quality Materials" are applied to a project.
How the "Quality Materials" are applied to a project. They are the activities undertaken using "Quality Materials" to validate the quality of the project. The artifacts used within an organization to assist a Project Manager improve quality in the project e.g. Templates, Standards, Checklists. These materials are used in "Quality Events". Technical project quality is usually judged by asking three questions: Does the system comply with corporate standards for: user interface, documentation, naming standards etc.? Is the technology stable? Is the system well engineered so that it is robust and maintainable? By asking these questions you will get a better idea of where the quality of your program is.
A project quality plan needs to includes a number of elements. You must identify what needs to go through a quality check? Typically what needs to be checked are the deliverables. Any significant deliverable from a project should have some form of quality check carried out. A requirements document can be considered significant. Also, what is the most appropriate way to check the quality? If the end result is that a particular deliverable should meet a standard, then part of the quality checking should focus on compliance with the standard. This would indicate a "Standard Audit" could be the best approach. When should it be carried out? Most "Quality Events" are held just prior to the completion of the delivery. If however there are long development lead times for a deliverable, it might be sensible to hold earlier "Quality Events". For example, if development of code for a particular module will take 10 weeks, it may be worth holding a code inspection after 4 weeks to identify any problems early and reduce rework. Before beginning your project quality plan you should also identify who should be involved and what materials are needed.
Producing a project quality plan is not complex. It involves identifying all the deliverables at the start of the project and deciding how to best validate their quality. There is an overhead in undertaking quality checks but this is offset by not having to fix things further down the line. Inevitably, the later you find a problem, the longer it takes to fix.
Both Ma&a Group, Inc. & Mark Keller are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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