Assignment-1 SPM
Assignment-1 SPM
Assignment-1
Software Project Management (MCA2021)
2. Risk Mitigation
Example:
Example:
1. Project Planning
Description:
Project planning involves defining the scope, objectives,
deliverables, timelines, resources, and budget required to complete
the project. This phase also includes creating a roadmap for tasks,
milestones, and dependencies.
Contribution to Success:
Description:
This activity focuses on tracking the project's progress, comparing
it against the plan, and implementing corrective measures if
deviations occur. Regular status reporting, performance analysis,
and quality control checks are part of this phase.
Contribution to Success:
Example:
3. Risk Management
Description:
Risk management involves identifying, analyzing, and mitigating
risks that could impact the project's success. This includes
technical, financial, and operational risks.
Contribution to Success:
Example:
Example:
An e-commerce website for a global business like Black Fox would
involve scalability, performance, and security considerations. This
categorization leads to decisions to use advanced project management
tools, agile methodologies, and experienced developers.
Example:
A regulatory compliance system for a financial institution requires
categorization as a high-priority, low-risk tolerance project. This
influences decisions to use Waterfall methodology for its
predictability and detailed documentation, ensuring compliance with
legal standards.
Example:
Example:
When objectives are clear and realistic, team members are motivated
to achieve them because they feel the goals are attainable.
Additionally, well-defined objectives create accountability, as
every team member knows what is expected of them.
Example:
An objective like "Reduce the app's load time to under two seconds
by optimizing backend performance" provides a tangible and
achievable target for the development team to work toward.
Example:
1. Informed Decision-Making
Cost-benefit evaluation provides a quantitative basis for
comparing projects, enabling stakeholders to prioritize
initiatives that deliver the most value.
3. Risk Mitigation
Evaluating costs and benefits helps identify projects with
disproportionate risks or insufficient returns, enabling their
exclusion or redesign before significant resources are wasted.
4. Maximizing ROI
Effective cost-benefit evaluation ensures that projects within
the portfolio collectively maximize the organization's return
on investment (ROI).