Discussion and assignment
DISCUSSION
You are ready to move forward with your project, but you realize you have not done a good job in identifying risks for your project. Using information that you learned from both online lectures, describe a key risk (either one that is technical, external, or organizational) that could impact your project. Then, recommend a risk response for it.
EXAMPLE
Risk management is an important aspect of project management. It can be defined as an unforeseen event or activity that can impact the project's progress, result or outcome in a positive or negative way. A risk can be assessed using two factors: impact and probability.
For example, if the probability is 1, it is an issue and that risk is already materialized. If the probability is zero, this means that risk will not happen and should be removed from the list of potential risks.
Note: risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities.
DISCUSSION
PROJECT CHALLENGE
Your business sponsor and customer are impressed with your project schedule, but due to some factors out of your / their control, you've been told to deliver your project early. Using the information from the readings, explain how you would go about assessing the possibility of delivering your project early. How will that affect scope, costs, and schedule
ASSIGNMENT
Project Schedule
This assignment consists of two (2) parts: a project schedule, and a written response. You must submit both parts as separate files for the completion of this assignment. Label each file name according to the part of the assignment it is written for.
Part A: Project Schedule
1. In Assignment 2, you developed a project plan. Now, using the information from your project proposal, create a multi-level work breakdown structure (WBS) and detailed project schedule.
Your project must include the following criteria:
o The project must consist of at least twenty-five (25) tasks.
o Each task must contain a start date, a finish date, and have main staffing and non-staffing resources assigned.
o Assume that your work activities are completed during normal weekdays (no weekend work) under normal conditions (8 hours per day).
o In terms of holidays, you can assume no work will be done the following days: New Year's Day, President's Day, Good Friday, Good Monday, Friday before Memorial Day, Memorial Day, the business day before Independence Day, Independence Day, the Friday before Labor Day, Labor Day, the day before Thanksgiving Day, Thanksgiving Day, Black Friday (day after Thanksgiving), the business day before Christmas, Christmas Day, the business day after Christmas Day, and New Year's Eve.
Part B: Written Response
Write a one to two page response in which you:
1. Analyze your project in terms of project completion, critical path, and slack / float. Specifically, be sure to answer the following:
o When will the project be completed?
o What is the critical path for the project?
o How much slack / float is in your project? What activities have the greatest slack / float?
2. Summarize the recommendations or improvements you would make to your project schedule. Specifically, be sure to answer the following:
o Identify the top three (3) activities that you believe could impact the project completion date.
o What additional activities would you add to this project to make it more complete, from a project management viewpoint?
3. Format your assignment according to the following formatting requirements:
o Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
o Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page is not included in the required page length.