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IS480 Team wiki: 2016T1 Charlies Angels Risk Management

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Project Schedule Charlies Angels Current Stage.png Risk Management Change Management Metrics
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Current Risks that may affect the team:

S/N RISK TYPE RISK DESCRIPTION LIKELIHOOD SEVERITY CATEGORY MITIGATION
9. Technology Risk The recent acquisition of Yahoo by Verizon poses an imminent threat to the existence of the Yahoo API where the team utilises to call for its financial information. Probable Critical Unacceptable The team has identified that Yahoo would close the service only in 2017. However, in the event that the service is closed during the phase of development, the purchase of a paid API is absolutely necessary. In the event of this purchase, the team would propose the drop of all functions happening thereafter, and focus on the fetch of data as it is essentially what makes the application.
10. Technology Risk As the application is utilising web crawling patterns, this aspect is subjected heavily on the patterns that are used on the host(s) which we crawl the data from. Probable Critical Unacceptable The team has come up with mitigation plans to have two possible steps to take. The first choice would be to proceed to find an alternative website that displays the essential information that we require and proceed to crawl from there. Should the former step fail, we would proceed to consult our client, and proceed to make a purchase for paid API for financial data. In the event of this purchase, the team would propose the drop of all functions happening thereafter, and focus on the fetch of data as it is essentially what makes the application.

A list of websites have been provided to the client as alternate sources for varying financial data information:
  1. http://www.indexq.org/index/FSSTI.php
  2. http://www.tradingeconomics.com/singapore/stock-market
  3. http://www.tradingeconomics.com/analytics/api.aspx?source=footer
  4. http://www.shareinvestor.com/fundamental/factsheet.html?counter=D05.SI
  5. http://www.shareinvestor.com/membership/plans_overview.html
  6. https://www.google.com/finance?q=SGX%3AD05&ei=X_wFWKmtMsOFuASk-o3IAQ
  7. http://www.marketwatch.com/investing/Stock/D05?countrycode=SG
  8. https://sg.uobkayhian.com/page/UOBKH/STI_ComponentStk.jsp
  9. http://www.marketwatch.com/investing/index/sti?CountryCode=sg
  10. http://www.sharesinv.com/prices/index-sti/
  11. http://www.tradingeconomics.com/singapore/government-bond-yield
  12. http://sg.morningstar.com/ap/quicktake/returns.aspx?PerformanceId=0P00006PNA&activetab=TotalReturn

Past Risks that may have/have not affected the team:

S/N RISK TYPE RISK DESCRIPTION LIKELIHOOD SEVERITY CATEGORY MITIGATION
1. Client Management Risk Client has a different technical domain understanding from the team.
As a result, it is difficult to agree on an initial scope of the project, which led to scope creep to occur
and it is difficult to define clearly the functions required
Probable Critical Unacceptable The group met up to have an in-depth discussion on the scope and our ability to deliver.
Next, we had multiple meetings with the client to understand his expectations and reach a consensus.
This is coupled with constant feedback and communication to him. We will reach a common agreement before proceeding. And the team has also established a Client Satisfaction Metrics to help us better gauge the quality of our progress with our client.
2. Project Management Risk 4 out of 6 members of the team is away on an overseas internship in India.
Absence of a stable internet connection and physical presence affects the quality of communication among all stakeholders
Frequent Critical Unacceptable The group has arranged a weekly Sunday Skype meeting under normal circumstances to update one another.
And we have also engaged the use of Slack and Asana to help manage every team members' expectations & understanding
3. Resource Risk Unforeseen circumstances that leads to workstations crashing or lack of interoperability between Mac & Windows Occasional High High The team has decided on the use of the cloud. All project related documents and technical development are stored in a GIT repository.
Therefore, the unfortunate loss of a machine is deeply regretted but would not have such a deep impact
4. Technology Risk Exposed to a myriad of new technologies such as PostgreSQL, React.Js, etc. would lead to a poor estimate of time required to complete tasks.
Hence, resulting in delays of work products delivery
Probable High High The team has researched and explored new technologies before the embarkation of the project.
Prior research allows the team to be less taken aback during development
5. Team Morale Risk The duration of the project, coupled with the lack of technical-know-how in the financial domain, may lead to team's unhappiness or motivation to carry on the project.
Additionally, due to varying geographical locations of members, this may lead to miscommunication and brewing unhappiness amongst the team
Probable Moderate Medium The team has devised a new Team Enthusiasm Metrics, this allows the project manager to better evaluate and gauge the team's morale and enthusiasm towards the project.
Mitigations include discussions and outings for the team not to always be at work.
Following the advice given by supervisor, Prof. Chris Boesch to always celebrate the small 'wins' to keep the team going
6. Technology Risk The utilization of the latest frameworks for the User Interface & Experience brings the pertinent need of the latest web browsers to be made compatible for the application to work. Probable Critical Unacceptable The team has took steps to ensure that in all forms of documentation to include the instruction that the latest web browsers are necessary for the application to work.
7. Project Management Risk Team has lack of financial domain knowledge which may lead to business-technical disparities.
And as a result, would have a poorly designed and developed application
Probable Critical Unacceptable Business Analyst has met few parties involved in trading and gathered feedback, and also performed extensive research on the subject matter.
Any hazy details, the team seeks clarifications from our client with haste. Additionally, the client has conducted a crash course on investment for the team to gain a foundation grasp of trading.
8. Business Risk Team has rudimentary understanding of CPF and Housing Loan calculations Probable Critical Unacceptable The team gathered feedback, and also performed extensive research on the subject matter.
We also approached an employee working in CPF Board to clarify details.