Ch5 Risk Management
According to the class we learned is risk management which means minimize the threats to your project. It also means uncertainty involve in a project. Uncertainty is systematically managed to increase the likelihood of meeting project objectives.
The benefits of risk management in projects are the huge part of it. You might gain a lot of money if you deal with uncertain project events in a proactive manner. The result will minimize the impact of project threats and seize the opportunities that occur. This allows the manager to deliver the project on time, on budget and with the quality results the project sponsor demands. Also the team members of the project will be much happier if they do not enter a "fire fighting" mode needed to repair the failures that could have been prevented.
Ch 6 Work Breakdown Structure (WBS):
Break your project into Manageable units of Work
The WBS is one of the most powerful techniques in Project Management. It is also practical because you can list hundreds of tasks on it and it is far more than can be listed using the graphic approach. Building a WBS help to provide a detailed illustration of project scope, monitor progress, create accurate cost and schedule estimates and build project teams.
There are 3 steps to building a WBS: 1. Begin t the top. 2. Name all the tasks required to produce deliverables. 3. How to organize the WBS means rearrange them in different ways. At the end, make sure the final summarizes are meaningful to the project.
Risk Management:
ReplyDeleteIn order not to enter 'fire fighting' mode - 2 actions can be consider:
1. Preventive actions attempt to deter or prevent undesirable events from occurring.
2. Detective actions attempt to uncover undesirable acts.