Project Risk

MGT 640 Topic 4, Project Risk Assessment Problems SOLUTION
ID	Task	Optimistic Duration (days)	Most Likely Duration (days)	Pessimistic Duration (days)	PERT Expected Duration (days)	Critical Path	Variance
1	TECHNOLOGY REFRESH (VERSION B) PROJECT
2	Initiating
3	Meet with key stakeholders	2	3	12	4	√
4	Finalize statement of work	2	10	15	10	√
5	Secure project team leads	2	2	4	2
6	Finalize stakeholder register	2	10	13	9	√
7	Develop project charter	2	5	17	7
8	Finalize project charter	2	4	8	4	√
9	Planning
10	Scope Planning
11	Requirements
12	Develop/finalize functional requirements	10	18	28	18	√
13	Develop/finalize hardware requirements	12	16	18	16
14	Develop/finalize software requirements	10	16	30	17
15	Develop/finalize requirements traceability matrix	11	14	28	16
16	Finalize project deliverables	2	2	3	2	√
17	Develop scope statement	4	9	10	8	√
18	Finalize/Update WBS	2	3	5	3	√
19	Schedule (Time) and Cost Planning
20	Finalize hardware/software costs	2	4	5	4
21	Update activities and duration estimates	6	12	14	11	√
22	Human Resource Planning
23	Finalize resource requirements	6	10	14	10
24	Finalize project costs	4	11	19	11
25	Identify training requirements	2	4	5	4	√
26	Complete training activities	6	12	14	11	√
27	Quality Planning
28	Determine impacted quality processes	2	3	4	3	√
29	Finalize quality management plan	2	10	18	10
30	Risk Planning
31	Update project risks	3	6	12	7	√
32	Draft risk register	2	3	8	4
33	Finalize risk management plan	2	4	7	4
34	Finalize Project Plan
35	Finalize communications management plan	2	3	4	3
36	Finalize procurement management plan	2	6	14	7
37	Finalize stakeholder management plan	2	2	5	3
38	Finalize project schedule/cost baseline	2	13	19	12
39	Finalize project plan	2	5	16	6	√
40	Obtain approval for project plan	2	4	7	4	√
41	Executing
42	Hardware
43	Procure hardware from suppliers	10	24	32	23	√
44	Software
45	Obtain software OS licenses	6	11	20	12	√
46	Obtain software application licenses	6	8	17	9
47	Pilot Testing
48	Setup test area	1	2	2	2
49	Load software onto pilot machines	4	6	8	6	√
50	Validate functionality	3	6	8	6
51	Deployment
52	Configure production hardware	10	25	33	24	√
53	Deploy production hardware	11	19	23	18	√
54	Load software to deployed hardware	12	17	19	17	√
55	Testing
56	Validate startup on deployed hardware	4	9	18	10	√
57	Perform OS testing	4	8	17	9
58	Perform application testing	4	19	28	18	√
59	Obtain formal sign-off from users	6	17	24	16
60	Monitoring and Controlling
61	Formal Customer Review 1
62	Hold formal customer review after project plan approval	1	3	4	3	√
63	Update project plan	4	10	20	11
64	Formal Customer Review 2
65	Obtain updates regarding key deliverables from project team	5	18	22	17	√
66	Hold formal customer review after pilot testing	5	7	11	7	√
67	Update project plan	4	8	15	9
68	Closing
69	External
70	Finalize procurement with suppliers	5	18	24	17
71	Customer Approval
72	Hold final customer review	1	2	2	2	√
73	Prepare/submit final customer report	3	6	10	6	√
74	Audit against contractual deliverables	3	5	8	5
75	Obtain final customer approval	2	3	4	3	√
76	Internal
77	Hold lessons learned meeting	1	1	1	1
78	Update final internal report	4	6	12	7	√
79	Hold project team celebration event	1	1	2	1	√
				Expected Project Finish Time:		Total Critical Path Variance:		days
					days
						Total Critical Path Standard Deviation:		days
				Probability of finishing the project in	287	days is
							or
								%
				Probability of finishing the project in	273	days is
							or
								%