1. Risk management must be a part of every project that is undertaken, especially in large scale IT projects where there are many players and shifting requirements. If a project does not use risk management, then the project manager either has never worked on a complex project or is overconfident that no risk will be present. (Jutte, B., et al., 2016, para. 3)
2. Identification of risk at the very beginning of a project is essential to making sure all known risk is identified. Two main sources of risk identification are people and documentation. (Jutte, B., et al., 2016, para. 4)
3. Communication is key when identifying risk. Talking about risk during team meetings, allows the project team to become more aware of the risk and identify …show more content…
This article discusses Capability Maturity Model Integrated (CMMI) as a formal process for managing IT projects. Moreover, list out the current process that the U.S. Federal Government currently uses in the contract award. (Mishra, Das & Murray et al., 2014, p. 5)
3. The purpose of the study was to identify key risk in federal IT projects and examine the role of process maturity in mitigating risks. Three risks were identified including complexity, contracting and execution risk. (Mishra, Das & Murray et al., 2014, p. 6)
4. A hypothesis of the conceptual framework is laid out detailing how the IT projects could be better managed and to rise to the CMMI levels of 3-5. Vendor selection and monitoring of the project to solve problems as they are identified by the project management team. (Mishra, Das & Murray et al., 2014, p. 7)
5. Developing a framework for examining risk contributing to scant empirical documentation and addresses risk and risk execution solutions to prevent negative impact to the project. (Mishra, Das & Murray et al., 2014, p. 13)
6. Discussion of CMMI levels and where each level is best suited for any given project. The Healthcare.gov site would have been primarily focused on the CMMI Level 3 maturity model with a minimal risk but high impact. (Mishra, Das & Murray et al., 2014, p. …show more content…
The 10 main points presented by (Mulcahy et al., 2013) were:
1. A project manager should not focus on dealing with problems; they should focus on preventing them. Risk management for project management is all about identifying the known risk, planning on how to handle the risk, and executing the risk management plan if the risk comes to bear. The unknown risk is more difficult to plan for since they are unknown. (Mulcahy et al., 2013, p. 405)
2. Risk management can work in both a positive and a negative focus based upon the risk. Some risk can be exploited thus enhancing the value of the project while another risk must be avoided if possible. (Mulcahy et al., 2013, p. 408)
3. When looking at risk; we must answer four major questions. The probability of the risk occurring, outcomes if the risk occurs, what impact will the risk have on the overall project and the frequency of which the risk may occur or has happened in past projects. (Mulcahy et al., 2013, p. 408)
4. Risk categories include external, internal, technical, and unforeseeable. Most risk falls in the first three, and the unforeseeable category is only a small portion of the risk that occur in a project. (Mulcahy et al., 2013, p.
2. Identification of risk at the very beginning of a project is essential to making sure all known risk is identified. Two main sources of risk identification are people and documentation. (Jutte, B., et al., 2016, para. 4)
3. Communication is key when identifying risk. Talking about risk during team meetings, allows the project team to become more aware of the risk and identify …show more content…
This article discusses Capability Maturity Model Integrated (CMMI) as a formal process for managing IT projects. Moreover, list out the current process that the U.S. Federal Government currently uses in the contract award. (Mishra, Das & Murray et al., 2014, p. 5)
3. The purpose of the study was to identify key risk in federal IT projects and examine the role of process maturity in mitigating risks. Three risks were identified including complexity, contracting and execution risk. (Mishra, Das & Murray et al., 2014, p. 6)
4. A hypothesis of the conceptual framework is laid out detailing how the IT projects could be better managed and to rise to the CMMI levels of 3-5. Vendor selection and monitoring of the project to solve problems as they are identified by the project management team. (Mishra, Das & Murray et al., 2014, p. 7)
5. Developing a framework for examining risk contributing to scant empirical documentation and addresses risk and risk execution solutions to prevent negative impact to the project. (Mishra, Das & Murray et al., 2014, p. 13)
6. Discussion of CMMI levels and where each level is best suited for any given project. The Healthcare.gov site would have been primarily focused on the CMMI Level 3 maturity model with a minimal risk but high impact. (Mishra, Das & Murray et al., 2014, p. …show more content…
The 10 main points presented by (Mulcahy et al., 2013) were:
1. A project manager should not focus on dealing with problems; they should focus on preventing them. Risk management for project management is all about identifying the known risk, planning on how to handle the risk, and executing the risk management plan if the risk comes to bear. The unknown risk is more difficult to plan for since they are unknown. (Mulcahy et al., 2013, p. 405)
2. Risk management can work in both a positive and a negative focus based upon the risk. Some risk can be exploited thus enhancing the value of the project while another risk must be avoided if possible. (Mulcahy et al., 2013, p. 408)
3. When looking at risk; we must answer four major questions. The probability of the risk occurring, outcomes if the risk occurs, what impact will the risk have on the overall project and the frequency of which the risk may occur or has happened in past projects. (Mulcahy et al., 2013, p. 408)
4. Risk categories include external, internal, technical, and unforeseeable. Most risk falls in the first three, and the unforeseeable category is only a small portion of the risk that occur in a project. (Mulcahy et al., 2013, p.