Software Engineering One (Part 2)
Project Mangagement is?
Project management is the act of planning, organizing, and managing a project in order to achieve a
predefined goal or outcome. In simple terms, project management means the process of leading a team
to hit goals or complete deliverables within a set timeframe
What is phase one of project mangement?
Project planning
What is phase two of project mangement?
Project Organizing
What is phase three of project mangement?
Project Monitoring
What is phase four of project mangement?
Project Adjusting
What is step 1 of project planning?
1. Perform estimation of
• The work effort
• The schedule
• The needed resources
What is step 2 of project planning?
2. Clearly define and establish measurable “goals” (realistic and measurable goals) for the project
(deliverables).
What is step 3 of project planning?
3. Determine the project resource allocations of
• People
• Process
• Tools and Facilities
What is step 4 of project planning?
4. Identify and analyze the project risks
Risk Management
Risk management is the process of identifying, analyzing and responding to any risk that arises over
the life cycle of a project to help the project remain on track and meet its goal. It should be part of the
planning process to figure out the risk that might happen in the project and how to control that risk if it
in fact occurs.
Risk = Potential Negative Event + Impact + Probability of Occurrence
Risk management itself is composed of three major components
Risk Identification,Risk Prioitiztion and Risk Mitigation
4 Types of Risk Mitigation
Accept,Avoid,Transfer,Reduce
Risk Mitigation Types
Risk Avoidance,Risk Acceptance,Risk Transfer and Risk Reduction
Risk avoidance
This is best suited in situations where the costs of mitigating risks are more
than the benefits. Opting to stop construction die to potential storm
Risk acceptance
Accept the risk, let it happen. Example, Amazon delivery (no guarantee that
the item will be delivered to the right address
Risk transfer
The process of allocating a portion of risk to a third party. Example, an insurance
policy
Risk Reduction
This can include implementing safety measures, conducting regular inspections, or
investing in backup systems.
Organizing
Once a project plan has been formulated or even before it has been completed, the organizing activities
must be initiated. For example, as soon as we have the estimated resources planned, hiring and
placement may begin
Monitoring
Once the project is organized and set into motion, there still needs to be regular tracking to
ensure that it is headed in the right direction. (Projects cannot be left to successful completion
by itself)
Some part of what was planned and organized will face a change like resignation from a
skilled/required person or Non-conformance with an agreed-on test procedure
where something went wrong with a process, service, or product, and the result does not
match the initial specifications.
Phases of Project management
1. Collection of project information (Status,2. Analysis and evaluation of collected information,3. Presentation and communication of the project status
Trend Analysis
Trend Analysis is the process of monitoring and identifying trends in project data.
Regression Analysis
Regression analysis can help identify which independent variables significantly impact the
dependent variable. For example, it can determine which marketing channels or advertising
strategies influence sales most, allowing businesses to allocate resources more effectively.
• Regression analysis helps to analyze and forecast the future performance of projects by
considering the relationship between different variables
Adjusting
here is usually a trade-off decision that needs to be made among these three items, which are
tightly coupled (Changing one affects the other two)
SOME PROJECT MANAGEMENT TECHNIQUES
1) Project Effort Estimation (POMA)
2) Work Breakdown Structure (POMA)
3) Project Status Tracking With Earned Value (POMA)
4) Developing Measurements And Metrics (POMA).