Best tips for risk management


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Project Management

Introductionand prioritised so deadlines are met and the
most  important  tasks  are  completed first.
Project Management is a constant process
during a software development project and isResource  Management
the responsibility of the Project Manager. It
is of the utmost importance as it providesResource Management is the efficient and
the interface for communication between theeffective deployment of the resources during
business side of a project and the technicalthe project. Such resources include financial
side  of  a  project.resources, inventory, human skills,
production resources and information
Project  Initiationtechnology.
Project Initiation will start with an initialResource Management will be used to calculate
meeting with the Project Supervisor tonon-physical costs that are not always
formally to introduce the members of theapparent, for example the number of terminals
Software Development team. This meeting willand staff time needed while working on the
also be used to discuss the deliverables theproject. The costs of resources will be
Supervisor requires and to outline themonitored throughout the life cycle of the
project  definitions.project to allow the team to utilise resource
levelling and forecasting techniques to
This Terms Of Reference has been collated toachieve  100%  utilisation  of  resources.
show to the Supervisor that the project is
feasible and worth the investment in bothRisk  Management
time and the costs of resources needed to
complete  the  deliverables.The Risk Management can be split into two
separate processes, risk assessment which
Approaching  the  Projectdeals with the preparation in case of risk
and risk control which deals with controlling
A Project Manager will be assigned to overseerisk  once  it  has  happened.
the Project and ensure that the specified
deliverables are delivered within the givenThe risks that could possibly happen during
time-scales. The choice of strategy andthe project will be assessed anddefined by
development methodologies will also be thethe Project Manager and discussed with the
responsibility of the Project Manager andProject Supervisor. Steps will be put in
will lead directly to the start of the designplace to control risk if it happens and the
process.steps  that  need  to be taken to control it.
DelegationRisk identification to identify the risks
most likely to occur, a check-list will be
The process of identifying and assigningdeveloped with input from each team
tasks will be the responsibility of thememberonce risks have been identified risk
Project Manager. This will be done byanalysis can occur detailing the chance of
analysing the tasks that need to be done andthe risk occurring and the course of action
delegating the tasks to specific members ofwhen it does happenin the event of a risk,
the  team  dependant  upon  their  skills.risk prioritisation is important and enables
us to determine which risks are critical and
Time  Managementneed to be dealt with firstrisk management
planning is based on the results from the
Time Management is essential for anyrisk analysis stage. This is done by
successful project and will enable us toevaluating if the costs risk control outweigh
identify tasks and focus on activities so thethe benefits. This then enables the team to
projects deliverables are achievedplan its risk management rather than dealing
efficiently. The project will be managedwith them as they occurafter identifying the
using Microsoft Project to schedule andrisks, the next step is risk resolution. It
monitor daily tasks as well as importantwill consist of many techniques such as
milestones and various estimation techniques,estimating costs and schedules, quality
such as project phasing, action plans andmonitoring, the evaluation of new
activity logs will be used to ensure thetechnologies, prototyping, benchmarking,
project is delivered within givenetc.risk monitoring is important and allows
times-scales: The Time Management processthe team to identify new risks that may occur
will require extensive planning, andas a result of prior fixes.
scheduling in order for tasks to be planned



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