Qualitative Risk Assessment. Using a qualitative risk analysis matrix, develop a risk assessment for a project based on the information provided in the Excel template. Based on this information, how would you rate the consequences of each of the identified risk factors? Why? Construct a risk matrix and classify each of the risk factors in the matrix.

Risk Mitigation Strategies. Develop a preliminary risk mitigation strategy for each of the risk factors identified in the prior question. If you were to prioritize your efforts, which risk factors would you address first? Why?

Quantitative Risk Assessment. Review the probability and consequence data provided in the Excel template. Calculate the overall risk factor for this project. Would you assess this level of risk as low, moderate, or high? Why?

Cost of Labor. Calculate the fully loaded cost of labor for your project team using the data provided in the Excel template.

Planned and Cumulative Costs. Calculate the planned and cumulative costs for the time-phased budget information provided in the Excel template.

Complexity Cost Weighting. As a Project Manager are asked to compute the expected costs of a software project at your organization. Calculate the total estimated number of function points and total expected cost for the project data provided in the Excel template.

1. Qualitative Risk Assessment Identified risk factors 1. Key team members pulled off project 2. Chance of economic downturn 3. Project funding cut 4. Project scope changes 5. Poor spec. performance Likelihood High Low Medium High Low Based on the above risk factors and likelihood, how would you rate the consequences (use your own judgement) and offer why. Consequence Why? 1 2 3 4 5 Now that you have the likelihood and consequence for each risk, populate the risk number(s) in the below matrix. For example if you were to classify all risks with a medium consequence, then populate the numbers as follows: Consequence Low Medium High Consequence Medium Low High High High 1,4 Likelihood Medium Likelihood Medium 3 Low Low 2,5 2. Risk Mitigation Strategies From the five risks from above, what would be your suggested risk mitigation approach. Justify your reason for choosing. Mitigation Approach Why? 1 N min If you were to prioritize your efforts, which risk factors would you address first? Why? 3. Quantitative Risk Assessment Assume the following information: Probability of Failure Consequences of Failure Maturity = .3 Cost = .1 Complexity = .3 Schedule = .7 Dependency=.5 Performance = 5 Calculate the overall risk factor for this project: Pf= Cf= How would you classify this level of risk: RF- Why: 4. Cost of Labor Compute the cost of labor for the following team members Fully Loaded Labor Cost Name Overhead Charge 1.35 1.75 Hours Needed 60 80 80 40 Personal Time Rate 1.12 1.12 Sandy Chuck Bob Penny Hourly Rate $ 18 $ 31 $ 9 $ 30 1.35 0 1.75 1.12 5. Planned and Cumulative Costs Compute the Plan and Cumulate costs for the project: Work Package Budget Week 1 Staffing $ 500 $ 400 $ Blueprinting $ 800 $ 100 $ Prototyping $ 1,200 $ Full Design $ 2,400 Plan: Cumulative: Week 2 Week 3 Week 4 Week 5 100 600 $ 100 200 $ 800 $ 200 $ 400 $ 1,000 $1,000 6. Complexity Cost Weighting Consider the data provided below and compute the total estimated of function points Function Number of Screens Complexity Input 8 Low Output 6 Low Interfaces 15 High Queries 5 High 25 Medium Files Complexity Weighting Medium Low Total High 2x 4x 3 x X 12 x Function Input Output Interfaces Queries Files X 18 x 4 x 12 x 4x 8 x 8x 2x Calculate the total expected cost of the project: Assume that each resource can complete five function points per month and each programmer costs $4,000 per month. Total Number of Functions: Total Number of person-months needed: Total cost for the Project