| Course Code: |
MQ 131 |
| Course Abstract: |
System development efforts are set on a course for success or failure depending on the availability and quality of requested requirements and the recognition and control of associated risks. When there are no requirements—technical staff resorts to imagination and delivers what it can. When the requirements are late, wrong, or inadequate—technical staff is forced to proceed in accordance with the established timetable. The irony here is that most of the people involved are well intended, and will mitigate known risks as they attempt to get the job done. Unknown risks usually surface at inopportune times and cause setbacks, disruptions, or stoppage. Clearly, such unfortunate scenarios need to end.
Risk Analysis and Assessment provides participants with techniques for collecting, evaluating, and documenting risks associated with requirements for development efforts of any size. The course begins with an overview of the process to prepare participants for the participatory part of the class. Participants perform exercises during class to demonstrate their capabilities and reinforce their understanding of how to determine project profitability and forecast project outcomes. The in-class experience exposes attendees to individual and group identification and analysis of risks associated with requirements. Risk Analysis and Assessment provides instruction and exercise in project financial—budget, forecast, and management—development, evaluation, and reporting. Course materials help participants to transfer learned skills to frequent practices back at their workplaces. |
| Audience: |
This course is designed for managers, team leads, requirements analysts, business analysts, and any person who works to define and analyze project risk factors. |
| Duration: |
3 days |
| Learning Outcomes: |
Upon completion of this course, the participant will be able to:
>Calculate—return on investment (ROI), Net Present Value, Payback Period, Internal Rate of Return, and Benefit Cost Ratios
>Evaluate—Benefits, Consequences, Success Factors, and, Failure Factors at the Organization (Strategic), Process (Operational), and, Individual (Tactical) levels |
| Course Topics: |
Overview: Requirements Defined
What are requirements?
Who sponsors requirements?
How are requirements acquired?
How are requirements analyzed?
Potential Benefits
Monetary—return on investment (ROI)
Utility—return on effort (ROE)
Financial Impacts
Project Start-up
Potential risk assessment (Methods, materials, machinery, money, human-power)
feasibility (organizational, technical, economic)
Project Execution
Continue or Terminate project development decision making
Post-Project Audits
Continue or Terminate operation decision making
Financial Evaluators
Feasibility
Economic Outlook
Market trends
Government regulations
Mergers and acquisitions
Technical Readiness
Ability (skill, knowledge, and experience)
Capability (does it exist? do we own it? can we get it? can we operate it? are results satisfactory?)
Willingness (commitment, confidence, and, motivation)
Organizational Impact—Change in:
Organization—goals, structure, and management
Process—goals, design, and management
Individual--objectives, job structure, and management
Critical Progress Assessments
Calculate earned-value metrics
Evaluate actual metrics against planned metrics
Determine cause of variance
Estimate probable impact
Recommend appropriate action to stakeholders
Critical Success Factors
Calculate final metrics (cost)
Evaluate final metrics plus operational cost against project revenue
Determine cause of variance from planned (contracted) outcomes
Estimate probable impact
Evaluate against termination criteria (ratio or dollar threshold of profitability)
Recommend appropriate action to stakeholders |
| Prerequisites: |
None |