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Analysis of NMCI project in terms of Risk Assessment

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Unit V Scholarly Activity
This next phase of the project is meant to build off the previous phases and chapters:
Phase III: More Lessons Learned
Phase III Work Breakdown:
1. Analyze and critique the NMCI project in terms of its:
o risk identification and management,
o its scheduling,
o its budgeting, and
o its manner of project execution and closure.
You are to refer back to your knowledge from previous units to complete this portion.
2. Explain the challenges EDS faced in each of these areas, how and why they went astray, and how EDS might have managed these areas to prevent the problems or at least lessen their impact.
3. Determine whether this project could be judged a success or failure from a stakeholder's perspective. Use the CSU Online Library or your favorite search engine to locate resources that may help you determine this.
Phase III Deliverable
For this assignment, you are to submit a four-page report that presents an analysis, critique, and recommendations/remedies regarding the project management areas of risk management, risk response, scheduling, budgeting and project execution, and closure as they apply to NMCI's performance. The report should also include your post-project evaluation of whether this project is/was a success from the stakeholders' perspectives.
Finally, describe the elements of this project that could have led to its early termination.

This is the second portion to the previous assignment that you did for me.

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Solution Summary

Analysis of NMCI project in terms of Risk Assessment, Scheduling, and Budget, Successes and Failures

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Risk Management
According to Chron.com, "project management efforts are particularly sensitive to identifying and minimizing risk potential so project completion is not jeopardized" (http://smallbusiness.chron.com/importance-risk-project-management-43247.html). Risk assessment increases the chance that the project will be completed on time, within budget, and with as few surprises as possible. From a project management standpoint, the steps involved in risk assessment of a project include: 1) Identify the project steps required, 2) Identify potential threats, 3) Estimate level of risk for each threat identified.

When identifying the various steps needs to successfully complete a project, be careful in this step to show the "right" level of detail. The steps shouldn't be so broad that important risk factors would be overlooked, but they also shouldn't be so detailed as to create project maintenance overload. A benefit to breaking a project down into milestones and smaller tasks within those milestones is proper accountability can be assigned at every step. In addition, successes, blocking issues, and delays can be better monitored.

Potential threats can take the form of technology issues, communication issues, personnel issues, and other types of issues that will vary by project. The important part here is the project team needs to conduct several brainstorming sessions where each step identified in Step 1 of the risk assessment process is evaluated for possible barriers to success. Often risk factors are mundane and expected. For example, in the United States, if a key part of a project spans over the holiday season of Thanksgiving and Christmas, then timelines would need to be adjusted to be less aggressive to account for vacation time and office closures. Other risk factors may be regarding key project team members. There are certain project team members that are key to the success of a project and if they are "hit by a bus", or "win the lottery" then the project would grind to a halt. In fact, I worked on one project where the person who was a key contributor to the project was due to have her baby right in the middle of the project implementation. Subject matter experts contain very specific knowledge and information that only they know. As daunting as it may seem, a project manager should work to have a back-up person for even these individuals. This can often be achieved by shadowing, where another team member who knows almost as much as the "expert" will also attend all meetings and contribute as much as possible to the project, so that in the event that primary expert is not available, there is a backup person who can help move things along.

Now that each step has been outlined at the ...

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