Question:
(a) Projects are widely known for their tendency to run late and over-budget.
(i) Choose an organization of your choice and briefly describe the main risks to which development projects are exposed.
(ii) Discuss the techniques available for coping with those risks.
(b) Almost all projects suffer change to their current "definition" at some point in their evolution. Changes may be proposed by any of the stakeholders associated with the project. Change may be unavoidable or highly desirable; it may equally be unnecessary and not useful. It is essential that any proposed change to the project be formally controlled. Explain how project controls relative to changes are managed.
(c) Projects generate and absorb significant quantities of information. Discuss the importance of an effective information management system.