IT Project Management: Managing Uncertainty and Mitigating Risks

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Added on  2019-09-22

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This report discusses the IT project management process, life cycle, requirements, risks, and how to mitigate them. It also covers the 10 IT PM knowledge areas and how to manage them. The report emphasizes managing uncertainty and mitigating risks in IT PM. Subject: IT Project Management, Course Code: N/A, Course Name: N/A, College/University: N/A

IT Project Management: Managing Uncertainty and Mitigating Risks

   Added on 2019-09-22

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Running Head: IT PROJECT MANAGEMENT IT PMName of the studentDate
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IT PROJECT MANAGEMENT 2Abstract The report highlighted the IT PM is mainly the process of planning, delineating as well asorganizing responsibility for completing the particular information technology goals of acompany. It can be said that there are mainly 4 different types of IT projects that thecompanies can undertake: Data management, software implementation and development,network system upgrades as well as installations of the hardware It has been observed that the IT PM goes through some of the phases and these consists of thefollowing phases: -Initiating -Executing -Planning -Controlling -Closing IntroductionThe entire project will revolve around the main theme that is “How the uncertainty can be managed in the IT PM”. The IT PM is mainly the process of planning, delineating as well as organizing responsibility for completing the particular information technology goals of a company. It can be said that there are mainly 4 different types of IT projects that the companies can undertake: Data management, software implementation and development, network system upgrades as well as installations of the hardware. IT PM for the beginners sometimes consists of the web development, consisting of updating a webpage, creating an online shopping site, or even developing a total web structure. The following are some of the elements that highlight a few of the IT project categories such as: Software development, research, service, needs assessment, needs assessment and infrastructure. However, this entirereport will also highlight the following: -IT PM process-life cycle of the IT PM -IT PM life cycle- IT project requirements as well as risks -How to mitigate risks in an IT PM and etcetera (De Bakker, Boonstra & Wortmann, 2010). IT PM is another form of the PM and it also consists of overseeing the projects for the software development, network upgrades, business analytics, cloud computing, as well as the data management projects and implementing the services of the IT. In the first time it can be said that the IT PM can succumb the entire risk a company assumes when they are implementing a new technology when the very first time. One of the main reasons behind thisis the technology has not been used or implemented before in the company and there are likely to be some complexities that will be affecting the project for being successful.
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IT PROJECT MANAGEMENT 3BodyIT PM processThe phases of the project allow an individual to take the unworldly project and organize it so that the project manager can wrap their mind around it as well as making progress. The IT PM consists of the following phases:-Initiating -Executing -Planning-Controlling -ClosingInitiation- In this phase mainly the governing team are appointed and they tend to define the objectives as well as goals of a project. For the project a project manager is assigned, a project team is also recruited and creation of the project charter also takes place. Planning- In this particular phase the project team along with the project manager tends to work together for defining the deliverables or the intended outputs of the project and then plan each of the tasks so that each of the deliverable can be produced. Furthermore, each of the tasks have a start date and end date as well as the responsible individuals and all of the tasks together that leads towards the project plan. However, it is has been observed that this specific phase can be quite repetitive in nature so it is quite evident that planning might take place may take place throughout the project (Brewer & Dittman, 2013). Execution- The project plan is executed by the project team in this particular phase for creating the deliverables of the project. For instance, in an IT project, the team must begin working in each and every task that is listed itself on the project plan. For example, with regards to the specification deliverables for the tablets for sourcing, the team will mainly begin with gathering each and every deliverable of the tablets, and then they will be drafting the specification, after that reviewing of the specification will take place and the last step willbe specification approval. Monitoring as well as controlling- The project team mainly executes the project by the project team, and the project manager controls and monitors the team work for the scope, time, cost, risk, quality along with some other factors. The status of the project is reported by the project manager on a daily basis, as well as the risks and issues, to the committee who hassponsored for the project. For making sure that the project meets its objectives, controlling as well as monitoring is also an ongoing process. The project manager will be scheduling meetings each week or after 2 weeks with the steering committee of the project for providing them an update about the project on the project budget, status of the project, as well as they will inform them if there is any risks or issues with the ongoing project. Closing- It is the last stage of the IT PM. At each and every end phase of the project, the closure of the project makes sure that all of the project work is completed, approved, and alsothe ownership of the project deliverables have been handed over from the team of the project to the operations (Flyvbjerg & Budzier, 2013). IT project requirements and risksThe IT project requirements are mainly the tasks or the conditions that must be completed in order to make sure the completion or the success of the project. Furthermore, they provide a
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IT PROJECT MANAGEMENT 4crystal clear picture of the work that mainly needs to be done. These are meant for aligning the resources of the project with firm’s objectives. The first one is the business as well as the functional requirements- It is the first step in the project team as well as the end users define and document all functional and business requirements of the project. It is the process that mainly takes place with the requirements documents. This particular document consists of all the functional and business requirements of the project. Business requirements- It is mainly the high-level needs of the business. It mainly addresses what is required and why the project is taking place. Furthermore, it can be said that it is the starting point of the project and also provides some of the guidance for the other types of requirements. These types of requirements must be communicated in a clear manner and early.Solution requirements- It consists of both non-functional as well as the functional requirements, are the particular features as well as the product’s characteristics or the service that will be meeting each and every requirements, in terms of stakeholder and business. On the other hand, the functional requirements mainly describe something that a service or a product is required to do. The non-functional requirements tend to describe how a system willbe functioning (Kerzner & Kerzner, 2017). Stakeholders- It can be said that the stakeholders are also one of the main elements of the entire project requirements. The stakeholders are mainly an individual who has interest in the service or product and there may be internal or the external stakeholders. However, each and every stakeholder has particular set of requirements that they need to be fulfilled. The needs of stakeholders must be balanced well with the project. In some of the scenarios the stakeholders have needs that are quite demanding and may adversely affect the budget, schedule, scope of the project. There are some of the IT project risks and these are as follows: Mid-project changes in scope- the changes are scope are quite frequent in the IT projects. No matter how much the specification is still suggestions will be coming after the implementation took place.Going behind the schedule due to some unforseen complications and it is one of the common IT PM risks.Technical inability for a given feature for implementing, it has been observed that the complications related to the technical features not only delays but it also tends to affect the scope to a great extent. Risk mitigation planning Before suggesting the ways by which risks can be mitigated it is an absolute necessity for doing the risk planning with the help of these risks can be mitigated. The following are some of the risk mitigation plans:-Evaluating the common causes and risk communications-Characterizing the main causes of the risks that have identified as well as quantified inthe earlier steps of the risk management process. -Prioritizing and assessing the alternatives of the mitigation
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