A firm hosts data-mining servers and performs data mining for other companies that do not desire the costs of hardware, software, or expertise to data mine their data. The firm is planning to roll out faster data-mining software that will reduce the time to sift through customers' data by a fraction of the present time.
Part 1: List and discuss the major risk-management functions from a project-management perspective for the data-mining software project.
Part 2: Describe a risk event, the consequences, and the risk-response plan for the data-mining software project.