Allgm.

Organizations perform work to achieve specific goals that may be categorized as either operations or projects

• operations

  • are performed by relatively stable teams

  • ongoing and repetitive processes (non unique)

  • are focused on sustaining the organization

• projects

  • performed by temporary teams

  • non-repetitive processes (unique)

  • provide unique deliverables

• 1. Stakeholders analysis

• 2. Stakeholders needs

• 3. Product vision

• 4. Long-term schedule and milestones

• 5. Project organization

• 6. Business Case and preliminary budget

• 7. Risks

• One is that during the first stages of a project, because of the little number of

  performed activities, the CI fluctuates and tends to stabilize by the time the project

  is 20% complete (Lipke 2005). Thus, the CI can be considered as a reliable source

  of performance information and future indication only from that date. Furthermore,

  the CI is likely to worsen from that point in time as the project progresses because

  of schedule delay, rescheduling and rework, which increase as more activities

  unfold

• Another is about the SI calculation metrics (Eq. 8.5b): as far as the project

  progresses the SI tends to get close to 1 even if the project is behind schedule.

  Indeed, at the finish date when the work performed (WP) equals the work scheduled

  (WS), the schedule variance is nil and the schedule index is 1. As a result, the SI

  and the associated formulae are useful until the project is no more than 70–80%

  complete

• In light of the consideration that growing expenditures involves declining control,

  it may be concluded that project monitoring is a valuable support to project

  control decisions and actions when the project is from 20 to approximately 70–80%

  complete, which is actually the most effective period to take project control actions.

  Earlier adjustments may rely on blind performance assessment, while later decisions

  may be ineffective, expensive and even get things worse.

• Original: future remaining cost will be in line with the budget (optimistic - assuming that cost overruns are old problems and will not incur in the future)

• Revised: Better (assumes that the project future will, at least, reflect the past performance, if no corrective actions are undertaken)

• Product owner

• SCRUM-Master

• Scrum-Team

• Ability to create and respond to change in order to profit in a turbulent global business environment

• Ability to quickly reprioritize use of resources when requirements, technology, and knowledge shift

• Fast response to sudden market changes and emerging threats, by intensive customer interaction

• incremental, and iterative delivery to converge on an optimal customer solution

  • The product is developed according to limited duration cycles and delivered in incremental portions

• Maximizing the business value with right-sized, just enough, and just in time processes and documentation

• can be presented with a matrix that identifies the interest of each stakeholder with respect to its power to influence the results

• or the stakeholders' expectations in relation to their ability to facilitate its success

• uncertain event or condition that, if it occurs, has a positive or negative effect on a project’s objectives

• PRM includes the processes concerned with conducting RM planning, identification, analysis, responses, and monitoring and control on a project

• Systematic process of identifying, analyzing and responding to project risk

• Includes maximizing the probability and consequences of positive events and minimizing the probability and consequences of adverse events to project objectives (PMI)

• Increase the probability and impact of positive events

• Decrease the probability and impact of negative events

• Identify and prioritize risks in advance of their occurrence

• Provide action-oriented information to project managers

  
  

• Cause

• Risk

• Effect

• Plan RM

• Identify Risk

• Perfom Qualitative Risk Analysis

• Perform quantitativ Risk Analysis

• Plan Risk Responses

• Monitor and Control Risks

Basically, responses to be used against risk may be drawn in four strategic directions. Avoidance and mitigation are typically risk preventive strategies that allow to minimize risk before it happens.

• Avoid: Most simplistic and often the most practical method

• Migitate

  • Mitigation involves a range of activities designed to reduce project risk. These activities include scheduling risky tasks out of the project critical path, allocating resources in order to minimize negative impacts, as well as holding frequent update meetings on important project aspects among others

• Transfer

  • Transferring risk to other stakeholders

  • The use of insurance policies will transfer risk onto the insurer. The obvious downside is the risk premium, which represents the cost of the counter measure, as presented in the previous paragraph. Types of insurance common in the construction industry include general builder’s risk insurance as well as general liability insurance. Non-insurance transfers can be completed through the hiring of sub-contractors as well as through contract clauses.

• Accept

  • The least desirable response is to accept full risk. Even though the risk is “accepted” there are still options available in order to minimize the impact from this risk. Monitoring plans devoted to those risky activities should be created. These plans should consider recovery and determined resources necessary to mitigate the impacts. For each risk an accurate probability of the risk occurring as well as its impact (financial or schedule) must be determined. Counter measures must be clearly defined—actions to be taken, responsible persons for initiating these actions, and the residual effects even after the actions are taken. In addition, contingency funds or materials, depending on the task, should be allocated to provide for a proper response. Finally, accepting risk may be an interesting option if a proper risk premium is paid to the party who- shoulders the risk

The total cost of a risk response budget equals summation of the cost of all risk

preventive actions and the cost contingency budget

• Have a Project Manager to help the Agile roles

• Initiate the project and make the long term planning using the traditional approach

• Monitor the performance of your project

• Have the Agile roles on the technical side while the Project Manager on the management side

• Use an iterative approach to break up large projects into smaller chunks, develop the high-level requirements and plan upfront, and continue to refine the requirements and plan with each iteration.

• Prioritize requirements to ensure that the most essential requirements are done first to accelerate the delivery of the most important capabilities.

• Develop a higher level of engagement of business users in the oversight of the development effort, and develop a more flexible and adaptive approach to requirements definition if necessary.

• Integrate Quality testing into the development effort and adopt the agile principle that deliverable is not “done” until it is tested

• Use agile/lean technical practices to improve development productivity.

• A “deterministic chaos” environment along the project is not an exception, but a

• necessary way of management.

• Internal Rate of Return

• Discount rate required to achieve an NPV of zero for a given stream of cash flows.