SL Capstone 6910

Apart from the Business Case, stakeholder analysis is performed during the initial phases of a project. Briefly discuss the concept of stakeholders in Project Management in terms of external and internal stakeholders. Provide at least three examples under each category

Risk management involves identification, assessment, monitoring, and response to project risks to minimise the likelihood of occurrence and/or potential impact of adverse events on the accomplishment of the project objective. Identify any five types of project risks and justify using examples.

Explain the concept of "project risk response strategies." How do organizations plan for and mitigate project risks during the analysis phase?

What are the interplay between the project components (Cost, time, scope, and quality) and the significance to project performance and sustainability

In project management, the project life cycle provides a structured framework for the successful initiation, planning, execution, and closure of a project. Throughout this life cycle, effective stakeholder engagement is crucial for project success. By giving one example project in your industry, discuss how project stakeholder engagement played a critical role at different stages of the project life cycle, and how it impacted project outcomes.

You have a choice to manage one of three projects. You are familiar with the first project’s sponsor, but the project customer has been known to be difficult to work with. The second project is a complex, high-profile project that has a strong, active project customer who doubles as the project sponsor. The third project is one that is not as complex as the second project, but you have a good working relationship with the customer. You do not, however, have any insight about the project sponsor. Which of the projects would you choose to manage and why? Suppose your manager asks you to manage a project in which you are not interested. How will you handle the situation?

What are the potential benefits of conducting risk analysis on a project before its implementation?

Tony and his team identified some risks during the first month of the Recreation and Wellness Intranet Project. However, all they did was document the risks in a list. They never ranked the risks or developed any response strategies. Because the project has had several problems, such as key team members leaving the company, users being uncooperative, and team members not providing good status information, Tony has decided to be more proactive in managing risks. He also wants to address positive risks as well as negative risks. 1. Create a risk register for the project. Identify six potential risks, including risks related to the problems described in the previous paragraph. Include negative and positive risks. 2. Plot the six risks on a probability/impact matrix. Also assign a numeric value for the probability and impact of each risk on meeting the main project objective. Use a scale of 1 to 10 in assigning the values, with 1 representing the lowest values. For a simple risk factor…

In the literature, project success variously refers to “on time, within budget, to specification” completion; success of the product produced; or success in achieving the business objectives of the project. How can I apply or relate this definition to a creation of a business plan or project?

Estimating project costs seems to be the main problem for Project 14321. You are to advise a reward mechanism for TSC management that will help with improving project cost estimation

As an IT Project Manager what are two issues  or project challenges unique to the IT industry that may affect the management of a vaccine rollout project.

Potential risks within a project:     should be addressed proactively early in the project life cycle     should be addressed as they occur instead of planning for failure ahead of time     should be eliminated by a good initial baseline plan     should be avoided by the development of good risk response plans

Project Direct costs are the costs related with utility expenses in the project.   true or false?

Risk management involves identification, assessment, control, and response to project risks to minimize the likelihood of occurrence and/or potential impact of adverse events on the accomplishment of the project objective. Risk identification includes determining which risks may adversely affect the project objective and estimating what the potential impacts of each risk might be if they occur. Describe the steps involved to manage risk on a project. How can a risk assessment matrix help in this process? What risks for a project have the highest priority? Does the priority for a risk change as the project progress?

Risk identification determines which risks might affect the project and documents their characteristics. Participants in risk identification activities can include the project manager, project team members, risk management team (if assigned), subject matter experts from outside the project team, customers, end-users, other project managers, stakeholders, and risk management experts. While these personnel are often key participants for risk identification, all project personnel should be encouraged to identify risks. How can you identify project risk?

stakeholder analysis is performed during the initial phases of a project. Briefly discuss the concept of stakeholders in Project Management in terms of external and internal stakeholders. Provide at least three examples under each category.

Projects encounter risks across its life cycle that have to be identified and responses planned for. As you identify potential project risks, you categorise them. One such category is an 'external- unpredictable risk". Which of the following is not an external-unpredictable risk? O A. Inflation OB. Unexpected environmental side effects O C. Natural hazards O D. Changes in government regulations

Consider a situation where the project manager and project sponsor have been working together putting out a newsletter about a major IT project for everyone that will be affected by the project, both during and after it is finished. They have been careful to ensure these stakeholders have been kept well-informed, on a regular basis, about why the project is important, how they will be affected, when training will take place, how the new system will be implemented, etc. Which one of the following best describes this change strategy?          Rational-empirical approach         Environmental-adaptive approach         Power-coercive approach         Normative–re-education approach

Risk management involves identification, assessment, monitoring, and response to project risks to minimise the likelihood of occurrence and/or potential impact of adverse events on the accomplishment of the project objective. Define risk identification then list the three approaches to identifying risk.

A project manager cannot make sound decisions without an accurate picture of the project's current state. If the project manager's actions are not based on the most accurate information, then those actions may not be the most appropriate for the given situation. Describe a time when project cost and scheduling affected business operations, and explain which phase (project cost or scheduling) had the most effect on business operations.

Looking at the 5 Project Life Cycle phases, we continue with Phase 2: Planning. The planning phase consists of gathering and prioritizing requirements and resources. Phase 1: Initiation Phase 2: Planning Phase 3: Execution Phase 4: Monitoring & Controlling Phase 5: Closure Scenario: As the owner of a company that performs interior painting services, you just recently attended a bidders' conference at JWU and your bid has been accepted so now it is time to gather and prioritize the project requirements. Information from the bidding conference is as follows: "Thank you all for attending. I am very pleased to have these fine companies attending and submitting bids to paint all of the classrooms in Xavier Hall. The Hall has five floors and there are six classrooms on each floor that require painting.  Each floor has rooms numbered f00, f01, f02, f03, f04, and f05 where the f is the floor number for example the first floor has rooms 100 - 105 respectively.  The bottom floor rooms…

What factors contribute to a project's success or failure during implementation? In your opinion, which one of these is the most crucial?

Explain Fact Based Decision Making and show why Fact based management is regarded as a core project quality concept

All stakeholders, including users and management, have expectations for the project. These expectations may evolve over time. This may result in one of two undesired outcomes: Scope Creep or Feature Creep. Explain the two ideas in sufficient detail that the distinction between them is apparent. What is the primary source of these two issues? What is the worst-case scenario that may occur in your project if these two bad circumstances occur?

Assess the Cost of failure as related to project quality