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Good project risk management depends on supporting organizational factors, having clear roles and responsibilities, and technical analysis. Chronologically, project risk management may begin in recognizing a threat, or by examining an opportunity. For example, these may be competitor developments or novel products.
In general, the strategies employed include transferring the risk to another party, avoiding the risk, reducing the negative effect of the risk, and accepting some or all of the consequences of a particular risk. Risk management in software project management begins with the business case for starting the project, which includes a cost-benefit ...
B is a scaling factor and is a function of the project size. [3] Productivity is the Process Productivity, the ability of a particular software organization to produce software of a given size at a particular defect rate. Effort is the total effort applied to the project in person-years. Time is the total schedule of the project in years.
The spiral model is a risk-driven software development process model. Based on the unique risk patterns of a given project, the spiral model guides a team to adopt elements of one or more process models, such as incremental , waterfall , or evolutionary prototyping .
A project management information system (PMIS) is the logical organization of the information required for an organization to execute projects successfully. A PMIS is typically one or more software applications and a methodical process for collecting and using project information.
The ISO technical committee dealing with project management, ISO/PC 236 was held by the American National Standards Institute (ANSI) which had approved four standards that used Project Management Institute (PMI) materials, one of which was ANSI/PMI 99-001-2008, A Guide to the Project Management Body of Knowledge - 4th Edition (PMI BoK® Guide ...
Project management office –: The Project management office in a business or professional enterprise is the department or group that defines and maintains the standards of process, generally related to project management, within the organization. The PMO strives to standardize and introduce economies of repetition in the execution of projects.
Risk is the lack of certainty about the outcome of making a particular choice. Statistically, the level of downside risk can be calculated as the product of the probability that harm occurs (e.g., that an accident happens) multiplied by the severity of that harm (i.e., the average amount of harm or more conservatively the maximum credible amount of harm).