Software Project Management

MODULE-4

1. Explain 4 steps involved in planning of risks and Explain how to overcome.

Ans: Risk Management is an important part of project planning activities. It involves identifying and
estimating the probability of risks with their order of impact on the project.
Risk Management Steps:
Some steps need to be followed to reduce risk. These steps are as follows:
1. Risk Identification:
Risk identification involves brainstorming activities. It also involves the preparation of a risk list.
Brainstorming is a group discussion technique where all the stakeholders meet together. This technique
produces new ideas and promotes creative thinking.
Preparation of a risk list involves the identification of risks that are occurring continuously in previous
software projects.
2. Risk Analysis and Prioritization:
It is a process that consists of the following steps:
 Identifying the problems causing risk in projects
 Identifying the probability of occurrence of the problem
 Identifying the impact of the problem
 Assigning values to step 2 and step 3 in the range of 1 to 10
 Calculate the risk exposure factor which is the product of values of Step 2 and Step 3
 Prepare a table consisting of all the values and order risk based on risk exposure factor
For example,
TABLE (Required)

3. Risk Avoidance and Mitigation:

The purpose of this technique is to eliminate the occurrence of risks. so the method to avoid risks is to
reduce the scope of projects by removing non-essential requirements.
4. Risk Monitoring:
In this technique, the risk is monitored continuously by reevaluating the risks, the impact of risk, and the
probability of occurrence of the risk.
This ensures that:
 Risk has been reduced
 New risks are discovered
 The impact and magnitude of risk are measured
OR
Step 1: Identify the Risks
This step involves the activities to properly comprehend the Risks and their impact on the various project
tasks. It is important to recognize and document the risks in a proper record. It has various aspects such as
methods of identification, communicating with the stakeholder, and documentation of the risk factors. Let us
discuss each of these in detail.
 Identify the Risks: The project experts implement methods such as SWOT (Strengths, Weaknesses,
Opportunities, Threats) Analysis to predict the Project risks. Additionally, the Delphi Method is used
to know the risk information from the expert opinions and consensus.
 Involve the Stakeholders: Risks may affect every part of the Project due to which the entire business
process has to suffer. Therefore, through this substep, Project Experts involve the different
Stakeholders through standup sessions and meetings to get thoughts on the Risks from the end-user
perspectives.
 Document the risks: After the different risks have been identified, they are organized in the form of
a hierarchy and formally documented in the record. These records are accessible to the key
stakeholders and project team to continuously review and update in each phase of the Project.
Step 2: Analyze the Risks
After we have identified all the possible risks in our project, we have to analyze them so that the mitigating
actions can be planned according to the impact that the risks create. The key factors of this step include:
 Analyze Risks Scenario: The Project experts understand What risks may arise under what conditions.
Also, they evaluate the scale of the scenario that may lead to a particular risk. Finally, the risk
assessment results are communicated to the stakeholders associated with the project.
 Define the Scope of the Risks: After understanding the root cause of the risks, the stakeholders and
project team analyze the domains that may be impacted by the risks. Thus, they define the boundaries
and limits for each risk.
 Develop the criteria for prioritization: Since all the risks cannot be diagnosed and resolved at the
same time, it is important to be aware of the priority of the risk-response plans. So, criteria for the risk
priority are defined in this substep.
Step 3: Evaluate or Rank the Risks
In this step, risks are evaluated or ranked by assessing their potential impact and likelihood of occurrence.
This prioritization helps focus attention on the most critical risks that require mitigation or contingency
planning.
 Perform Qualitative and Qualitative Analysis: Some risks have a higher impact and some have a
lower. Also, some risks may have a high frequency of occurrence while some have a lower frequency
of occurrence. Hence, it is important to analyze them in terms of quality as well as quantity so that
they can be properly analyzed.
  Visualize the Probability Impact Analysis: The evaluation and assessment of the Project risks have
to be understood and interpreted accurately. So, project managers often use the Risk Matrix to analyze
the Probability versus Impact of the Risk to categorize them into low, medium, and high risk.
 Documenting the Updates: All the updates of the Risk Management Process are finalized and
documented in the record. This information also helps in the future project execution.
Step 4: Treat the Risks
After identifying and evaluating the risks, various mitigation actions and response strategies are developed to
reduce the risk impact and eliminate it from the Project Lifecycle. This step generally has the following
activities:
 Develop the Mitigation Plans: The project experts can deal with the risks in four ways. They can
Avoid, Mitigate, Transfer, or Accept the risks. The type of action plan depends upon the intensity and
scope of a risk that arises. Keeping this fact in mind, the experts formulate different mitigating actions.
 Implement the Mitigation actions: Here, the action plans are executed as per the actions,
responsibilities, and timelines specified in the risk response strategy.
 Monitor and update the Risk Register: After the implementation of risk response is done, Project
Managers monitor the performance and update the status in the risk register.
Step 5: Monitor and Review the Risks
Identifying the risks and executing the mitigation action is alone not sufficient to ensure risk-free project
planning. It is also important to consciously monitor the status of the risks and keep a check on the risk-
mitigating actions. The key actions of this step are:
 Monitor the risks: The stakeholders and the project managers keep a check on the probability, impact,
or overall significance of the risk.
 Analyzing KPIs: System experts observe the Key Performance Indicators that give information about
the metrics related to risk occurrence, severity, and the success of mitigation efforts.
 Develop Trigger System and Early Warnings: If the risk response strategy fails in any scenario, the
response triggers are defined so that immediate action can be planned for risk mitigation.
After the identification, evaluation, and mitigation of the risks, it is important to keep the key stakeholders
and team members informed about the ongoing risk management process. This helps all the concerned
personnel to be informed about the current status of risk scenarios in the Project. Thus, they can easily
understand their responsibilities in the critical time.
These were the essential five steps of the Risk Management Process. Now, let us see what benefits we can get
from a successful Risk Management Process.

2. Explain RMMM plan.

Ans: RMMM Plan :
A risk management technique is usually seen in the software Project plan. This can be divided into Risk
Mitigation, Monitoring, and Management Plan (RMMM). In this plan, all works are done as part of risk
analysis. As part of the overall project plan project manager generally uses this RMMM plan.
In some software teams, risk is documented with the help of a Risk Information Sheet (RIS). This RIS is
controlled by using a database system for easier management of information i.e creation, priority ordering,
searching, and other analysis. After documentation of RMMM and start of a project, risk mitigation and
monitoring steps will start.
Risk Mitigation :
It is an activity used to avoid problems (Risk Avoidance).
Steps for mitigating the risks as follows.
1. Finding out the risk.
2. Removing causes that are the reason for risk creation.
3. Controlling the corresponding documents from time to time.
4. Conducting timely reviews to speed up the work.
Risk Monitoring :
It is an activity used for project tracking.
It has the following primary objectives as follows.

1. To check if predicted risks occur or not.

2. To ensure proper application of risk aversion steps defined for risk.
3. To collect data for future risk analysis.
4. To allocate what problems are caused by which risks throughout the project.
Risk Management and planning :
It assumes that the mitigation activity failed and the risk is a reality. This task is done by Project manager
when risk becomes reality and causes severe problems. If the project manager effectively uses project
mitigation to remove risks successfully then it is easier to manage the risks. This shows that the response
that will be taken for each risk by a manager. The main objective of the risk management plan is the risk
register. This risk register describes and focuses on the predicted threats to a software project.

Example:
Let us understand RMMM with the help of an example of high staff turnover.
Risk Mitigation:
To mitigate this risk, project management must develop a strategy for reducing turnover. The possible steps to
be taken are:
 Meet the current staff to determine causes for turnover (e.g., poor working conditions, low pay,
competitive job market).
 Mitigate those causes that are under our control before the project starts.
 Once the project commences, assume turnover will occur and develop techniques to ensure continuity
when people leave.
 Organize project teams so that information about each development activity is widely dispersed.
 Define documentation standards and establish mechanisms to ensure that documents are developed in
a timely manner.
 Assign a backup staff member for every critical technologist.
Risk Monitoring:
As the project proceeds, risk monitoring activities commence. The project manager monitors factors that may
provide an indication of whether the risk is becoming more or less likely. In the case of high staff turnover,
the following factors can be monitored:
 General attitude of team members based on project pressures.
 Interpersonal relationships among team members.
 Potential problems with compensation and benefits.
 The availability of jobs within the company and outside it.
Risk Management:
Risk management and contingency planning assumes that mitigation efforts have failed and that the risk has
become a reality. Continuing the example, the project is well underway, and a number of people announce that
they will be leaving. If the mitigation strategy has been followed, backup is available, information is
documented, and knowledge has been dispersed across the team. In addition, the project manager may
temporarily refocus resources (and readjust the project schedule) to those functions that are fully staffed,
enabling newcomers who must be added to the team to “get up to the speed“.
Drawbacks of RMMM:
 It incurs additional project costs.
 It takes additional time.
 For larger projects, implementing an RMMM may itself turn out to be another tedious project.
 RMMM does not guarantee a risk-free project, infact, risks may also come up after the project is
delivered.

3. Mention 2 different approaches of Risk management.

Ans:
 4. Why is resource allocation is important and what are the general categories of resources.
Ans: Resource allocation involves more than just assigning resources to projects. It considers the skills your
team brings to the table along with their availability. Allocation reports will enable you to filter resources by
skills and capacity so you can not only see who is available now but also when certain skills will be available
in the future for better planning and fewer delays.
Effective resource allocation offers the following benefits:
 Collaboration. Resource allocation helps facilitate communication among teams and fosters
collaboration. A resource allocation strategy allows communication with stakeholders, to keep them
informed about progress toward strategic goals.
 Efficiency. Resource availability helps teams complete a project on time and use only the resources
needed to achieve each goal. A solid resource allocation strategy helps project teams avoid mistakes
related to conflicting dependencies.
 Team morale. Resource allocation improves employee engagement and team member morale.
Resource allocation allows a more equitable distribution of responsibilities so that no team member is
overworked. This approach can improve productivity because as team members' well-being is
improved, they have the bandwidth and agency to take on additional work.
 Cost reduction. Effective resource allocation can result in significant cost savings because it increases
efficiency, reduces waste and avoids costly mistakes, setbacks and delays.

Categories of Resources in Project Management

1. Labor:
 People as commodities is the concept of human energy and expertise spent in the course of the projects
that realize the tasks and activities. They shall ensure that the personnel involved in project
execution, i.e. project managers, team members, contractors, and others, comply with the health and
safety regulations. Labor assets are key to attaining project goals’ success. Recruitment of the labor
force involves the designation of roles and duties to the right candidates, and building a supportive and
efficient working environment.
2. Equipment:
 Equipment resources count the complete provision of tools, machinery, and technology required in the
course of the project activity. This might refer to the computers, construction machines, technical
gadgets, and any other tools required for a unique project. Proper selection, use, and maintenance of
equipment are highly important for project implementation and also quality. Tools play an important
role in the time and accuracy of operations in turn leading to the goal of the mission timelines and
outcomes.
3. Materials:
 An essential resource is everything from the materials and components that go into producing the
deliverables to the actual products. In construction ventures, cement and steel correspond to them,
while, in production, materials used in the process can be raw materials. Managing material resources
can be set up as a convoy of tasks that consist of procurement, quality control, and inventory
management. Effective handling guarantees that the project gets its appropriate resources on time and
nonetheless avoids extraneous loss and failure.
4. Money:
 The financial budget goes as planned for this project as the project budget. This specifically involves
funds that will cover labor, machinery, raw materials, overhead funds, as well as all other expenses
incurred in the execution of the project. Successful financial management is an essential requirement
for the development of any project.
5. Space:
  Space elements are the basic materials used for any project or activity. This could be represented by
several offices, manufacturing facilities, construction sites, or any other needed setting. Identification
and agreement of space requirements stand out as the main principles guiding spatial organization and
functions driven by specific environmental considerations.
6. Services:
 External support is about the sources of help inclusive of the expertise that may be needed for a
particular task. This can have a consultant working on the project or providing legal services, training
of team members, with other supporting services. Adding external actors provides the project team
with additional options to make it develop. Allocating service resources includes a carefully expanded
set of providers to exist on good terms with this period, contracting them and coordinating them so
they will function within the project goals.
7. Time:
 Time is one of the main resources that will represent the allotted period for the realization of any
project activities, tasks, and milepost events. Good s time management makes the point at which the
project was supposed to take place closer to the scheduled date.

5. Explain how scheduling of resources done with an example.

Ans: Resource scheduling in project management (SPM) is the process of assigning resources to tasks and
projects to ensure that resources are used efficiently and effectively. The goal is to meet project deadlines,
reduce costs, and avoid over or under-allocation of resources
How to create a resource schedule?
Here is a step-by-step guide to help you create a manageable and effective resource schedule.
Step 1: Break down the project into phases and milestones
Delineate the project into manageable phases and establish project milestones. This allows for easy
comprehension of the project flow and provides clearer understanding of the progress towards project
completion.
Step 2: Assess your team's workload and availability
Knowing your team's capacity is key to successful resource scheduling. Monitor the workload of each team
member to avoid resource burnout. Additionally, you need to be aware of their availability to effectively
schedule tasks within their workable hours.
Step 3: Identify project requirements and deadlines
It is essential to understand the overall goals, requirements, and deadlines of the project. Accurate
determination of project scope helps in establishing realistic timelines and resource allocation.
Step 4: Review resource costs
Understanding the costs associated with your resources is another significant step. This includes employee
salaries, contractor fees, equipment costs, software licenses, etc. This information aids in budget planning and
expenditure control.
Step 5: Prioritize tasks and set dependencies
Tasks should be classified based on their priority. Typically, tasks critical to the project's progress should be
prioritized. Also, identifying task dependencies ensures smooth workflow, as it denotes which tasks rely on
others to be completed before they can begin.
Step 6: Assign resources to project tasks
When allocating resources to each task, consider the complexity and special requirements of the task. This
helps you assign resources who have the skills and experience required to get the job done.
Step 7: Schedule tasks and set timelines
Once resources are assigned, tasks need to be scheduled along a timeline to give a clear picture of the project
workflow. Make sure your schedule is flexible enough to accommodate changes and unexpected delays.
Step 8: Monitor resource allocation and adjust project assignments when necessary
Constant monitoring of resource allocation is crucial for efficient project management. This helps identify
over or underutilized resources and allows for quick adjustments to project assignments, ensuring efficient
utilization of every resource.
Remember: Resource scheduling is a continuous process. Regularly track, review and update your resource
schedule to ensure it aligns with project needs and resource availability.
Step 9: Track the resource schedule with a resource calendar
A resource calendar comes in handy to track resource schedules and work hours, making it easier to manage
projects and avoid conflicts. It provides a holistic view of the project timeline, task deadlines, available and
engaged resources, holidays, and potential bottlenecks. Purpose-built tools like Rocketlane can help you keep
track and schedule resources.
Step 10: Choose a resource scheduling tool
Look for a resource scheduling tool that allows you to visualize the entire project plan, track resource
allocation, monitor progress, and generate comprehensive reports. Tools like Rocketlane offer an all-in-one
comprehensive solution to manage your teams, projects, and resources effectively from a single tab. The data
and metrics these tools provide can be a lifesaver when striving for effective resource scheduling and
management. They provide valuable insights about employee utilization, project progress, and overall
productivity. These data points can guide you on necessary adjustments for optimization and future planning.

6. Explain Boehm’s Top 10 risks and counter measures.

Ans:

7. What are the roles played by a software project manager and Explain general categories of resources
needed.
Ans: A project manager has to face many difficult situations to accomplish these works. The job
responsibilities of a project manager range from invisible activities like building up team morale to highly
visible customer presentations. Most of the managers take responsibility for writing the project proposal,
project cost estimation, scheduling, project staffing, software process tailoring, project monitoring and
control, software configuration management, risk management, managerial report writing, and presentation,
and interfacing with clients.
Role of a Project Manager:
1. Leader
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A project manager must lead his team and should provide them direction to make them understand what is
expected from all of them.
2. Medium:
The Project manager is a medium between his clients and his team. He must coordinate and transfer all the
appropriate information from the clients to his team and report to the senior management.
3. Mentor:
He should be there to guide his team at each step and make sure that the team has an attachment. He provides
a recommendation to his team and points them in the right direction.
Responsibilities of a Project Manager:
1. Managing risks and issues.
2. Create the project team and assigns tasks to several team members.
3. Activity planning and sequencing.
4. Monitoring and reporting progress.
5. Modifies the project plan to deal with the situation.
Categories of resources: Refer question no: 4.

8. What important factors need to be considered when allocation of individual tasks?

Ans:
 9. How cost and expenditure monitor done. Explain with example.
Ans:
10. Categories of cost schedules.
Ans: Cost schedules can now be produced: Costs include:
• Staff costs • Overheads • Usage charges

 Staff costs: This will include salaries as well as the other direct costs of employment.
 Overheads: Represent expenditure that and organization incurs which cannot be directly related to
individual projects or jobs (Space rental, cost of service Departments)
 Usage charges: In some organizations projects are charged directly for use of resources such as
computer time. This will normally be on an “as used” basis.