IS480 Team wiki: 2016T1 Charlies Angels Risk Management
Revision as of 17:05, 11 July 2016 by Xwzheng.2014 (talk | contribs)
Project Schedule | Risk Management | Change Management | Metrics |
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. | 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. |
4. | 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 |
5. | 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 |
6. | 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 |