It Management Mgt2 Task 3

Consequently employees had to deal with high risk of failure against the complex functions and user related errors ;

However, when IT projects fall behind schedule, these efficiencies can quickly evaporate and lead to cost overruns, glitches and bugs. (3) Due to their inherently complex nature, IT projects are susceptible to many types of failures; mainly caused by a lack or risk management and flexibility. Many of the risks present in IT projects are unrealistic goals; inaccurate estimates of needed resources; badly defined system requirements; poor reporting of the project’s status; poor communication between developers and users; adoption of immature technology; inability to cope with project complexity; sloppy developed practices; mismanagement of the project; stakeholder politics; and commercial pressures. (4) With so many potential risks, it is not surprising that IT projects that are completed on time, and on budget, are more the exception rather than the rule. Additionally, before IT projects begin, clear objectives and the allocation of time and resources need to be defined; all of which are usually lacking for one reason or another. The result is a high failure rate associated with IT projects overall, which puts a spot light on the need for organizations to improve their risk management abilities and design processes that will allow them the flexibility to reallocate resources when unexpected problems when they

Each team lead should be responsible for their team, and each team should be held accountable for the risks involved in their department. They should be aware of the elements of the project they are responsible for delivering and make them accountable by holding review meetings each week to measure progress.

Risks: Due to lack of core competencies in the area of manufacturing, there is a high risk of failure due to mistakes and poor execution particularly working on a first large scale project. There is also a risk that if the trial is unsuccessful, the plant will be

* Sufficient testing is not conducted. It is unknown whether the system can handle the information volume

2) Poorly implemented new system that is heavily reliant on an outside vendor: The introduction of any new IT system increases risk because the controls previously in place may not be updated and/or sufficient to meet the needs of the new system. Additionally, the website programmed by MWD has experienced many crashes and is reliant on MWD for all fixes.

2. Risk management should be done at all stages. The initial assessment should be made in the proposal stage then the assessment should be revised and reevaluated throughout the projects life. New risks will become apparent at different stages and other ones will change with different circumstances.

The meeting was as forum to brainstorm foreseeable project risks as well practical mitigation strategies. I conducted post analysis of this information, including risk categorization, and risk applicability to project stage. This information was compiled and entered into the Risk Register before being shared with all stakeholders.

Project Management Institute Inc. (2013). Guide to project management body of knowledge (5th ed.). Newton Square, PA: Author.

For the System Development, I define it as a medium level of risk assessment. The company did design, develop and implement new systems for a certain time or logical reason. However, the new system testing is not as well as we think. As the result, the new system does no perform well as we expected. Even though the company have involve the internal audit department for the new system development, and the set them as part of the new project team to review the new project, which the team members are all been voting. They have a good process of development of new systems, but the new systems do not perform well. It will still result in a small probability of risk assessment. In general, I set a medium level of risk assessment to let the company consider about this issue.

It outlines how risk management activities will be performed, recorded, and monitored throughout the lifecycle of the project and provides practices for recording and prioritizing risks. The intended audience of this document is the project team, project stakeholders and management.

Also, internationalization or geographical diversification may lead to problems related to psychic distances. As the company gets more diversified, information flow will be harder due to differences in language, culture, level of education, political systems, foreignness and level of industrial development.

(2006). Module 4 Project Management Organizational Structures and Standards. Retrieved on December 16, 2006 from http://home.cogeco.ca/~pcreighton/PMWEB/Module%2004.htm

Project irrespective of their size or complexity have 5 basic process groups that adhere to the PMBOK and the 10 knowledge areas. They are initiating, planning, executing, monitoring, controlling and closing. These which allude to the use of knowledge, skills, tools and techniques to project practices to gratify project requirements, is what is project management. (PMBOK??) The project manager is responsible for consummating and integrating the project management process in to a project. Projects are executed with the premise of achieving Organisational objectives that cannot be addressed within an organisations generic contours. The 9 knowledge areas from the PMBOK that facilitate these Organisational

Knowledge Management In Project Environments, is the title of this paper. The paper is basically talking about the importance of the Project Management Knowledge, also known as, PKM, that is increasingly popular within temporary organisations such as handling a project or managing a company of a particular industry. Also, the challenges of knowledge management in project environment are that there is not enough evidence and findings show about the methods and almost all previous researches are focuses on only just 1 or a few cases. Hence, the paper is to explore more about how knowledge management should be used effectively and to