A risky project would be one that is large in scale and one that uses technology that were not familiar with and possibly with a new business we haven’t worked with before. A project that would not be considered risky would be one that is smaller in scale, technology we have used before and with a repeat customer.
When I think of a risky project what comes to mind is a project in which most of the eggs are in one basket. For example a project that lacks diversification would be very risky because everything is weighted so heavily on one objective. It may be considered risky to have all of a universities information stored in one location or centralized to one main hard drive. A less risky project on the otherhand would be very diversified, for instance storing information in multiple locations lessens the risk of losing some of it.
I would have to say that a risky project is described as just that- risky. I think the more risk that is involved with a project, such as having a large amount of the companies equity and resources tied up in one project makes it risky. Also, I would agree that having more diversity would reduce the risk, such as having profit of projects coming from multiple sources instead of just one because if one project fails then the rest still contribute revenue.
An example of a risky project would be starting a new internet search engine firm. In the internet world where there is internet giants; Bing and Google, a new internet search engine would not be very successful unless the new firm somehow offered a new compelling advantage over the leading giants. A project that would be less risky would be developing a new accessory for an already existing product we are familiar with. For example, H20Audio is a company that develops waterproof housings for IPods.
In terms of technical feasibility a company would have to look in to the many different forms of technologies that are out there and would be most useful and effective for that company. A risky project would be for a company to completely install a database program that assesses only a certain amount of people, let’s say 5,000 people. Come to find out the company should have had a database that assessed 15,000 people. Therefore, the database may have failed and created the database and server to be over-capacitated and eventually crash. Compatibility, complexity, familiarity, capability and relying on older versions of technology should all be taken in to consideration when adding technology. A project that may be less risky is teaching and training employees of an addition to the current software that is being used. For example, maybe instead of using Microsoft Excel for a particular item, the company may move to Microsoft Access that better deals with some of the situations that the business may come in to.
A risky project would include a team which is not familiar business application area. The greater the unfamiliarity the analysts are with the project the greater their chances are of misunderstanding the users or missing opportunities for improvement. A project is also considered risky when the technology itself is new. The technology has to be compatible with already existing technology if it wants to be implemented properly. Also larger projects present more risk because they are more complicated to manage and many important issues can be overlooked.
A project that would not be considered risky would be if Apple wanted to go into making digital cameras. They already have the technology to make cameras for their phones and they also understand the technology around what makes a digital camera great. For instance touch screen, weight, size, easy use etc.
A "risky" project can be defined as the users' and analysts' are not familiar with the application, which could create a misunderstanding between the two and miss opportunities for improvement. This causes delays because if they do not understand or the technology is new, they will need to learn how to use the technology before implementing it. The size of a project also can impact the "riskiness" of the project, the larger the project, the harder it is to manage all important aspects of the project. Finally a project is "risky" when it is difficult to integrate the system with the already existing technology.
A project that would not be considered "risky" would be if the University made an easier to manage website to make it easier and more effective way of registering for classes. The new application would still be dealing with registration, would not be too big of a project, and would make registration easier for all new and current students.
In the terms of Technical Feasibility a "risky" project would simply mean a project that involved an application that wasn't familiar to the users and analysts. Because technicality deals with the question of "can we build it?" an unfamiliar system or unfamiliar technology to work with would result in a risky project.
The definition of a risk project is a project that is large in size and contains technology that employees aren't familiar with. An example of this would be a calling listed that is presented in a program that isn't explained to employees on how to use.
A risky project would be one that is large in scale and one that uses technology that were not familiar with and possibly with a new business we haven’t worked with before. A project that would not be considered risky would be one that is smaller in scale, technology we have used before and with a repeat customer.
ReplyDeleteWhen I think of a risky project what comes to mind is a project in which most of the eggs are in one basket. For example a project that lacks diversification would be very risky because everything is weighted so heavily on one objective. It may be considered risky to have all of a universities information stored in one location or centralized to one main hard drive.
ReplyDeleteA less risky project on the otherhand would be very diversified, for instance storing information in multiple locations lessens the risk of losing some of it.
I would have to say that a risky project is described as just that- risky. I think the more risk that is involved with a project, such as having a large amount of the companies equity and resources tied up in one project makes it risky. Also, I would agree that having more diversity would reduce the risk, such as having profit of projects coming from multiple sources instead of just one because if one project fails then the rest still contribute revenue.
ReplyDeleteAn example of a risky project would be starting a new internet search engine firm. In the internet world where there is internet giants; Bing and Google, a new internet search engine would not be very successful unless the new firm somehow offered a new compelling advantage over the leading giants. A project that would be less risky would be developing a new accessory for an already existing product we are familiar with. For example, H20Audio is a company that develops waterproof housings for IPods.
ReplyDeleteIn terms of technical feasibility a company would have to look in to the many different forms of technologies that are out there and would be most useful and effective for that company. A risky project would be for a company to completely install a database program that assesses only a certain amount of people, let’s say 5,000 people. Come to find out the company should have had a database that assessed 15,000 people. Therefore, the database may have failed and created the database and server to be over-capacitated and eventually crash. Compatibility, complexity, familiarity, capability and relying on older versions of technology should all be taken in to consideration when adding technology.
ReplyDeleteA project that may be less risky is teaching and training employees of an addition to the current software that is being used. For example, maybe instead of using Microsoft Excel for a particular item, the company may move to Microsoft Access that better deals with some of the situations that the business may come in to.
A risky project would include a team which is not familiar business application area. The greater the unfamiliarity the analysts are with the project the greater their chances are of misunderstanding the users or missing opportunities for improvement. A project is also considered risky when the technology itself is new. The technology has to be compatible with already existing technology if it wants to be implemented properly. Also larger projects present more risk because they are more complicated to manage and many important issues can be overlooked.
ReplyDeleteA project that would not be considered risky would be if Apple wanted to go into making digital cameras. They already have the technology to make cameras for their phones and they also understand the technology around what makes a digital camera great. For instance touch screen, weight, size, easy use etc.
A "risky" project can be defined as the users' and analysts' are not familiar with the application, which could create a misunderstanding between the two and miss opportunities for improvement. This causes delays because if they do not understand or the technology is new, they will need to learn how to use the technology before implementing it. The size of a project also can impact the "riskiness" of the project, the larger the project, the harder it is to manage all important aspects of the project. Finally a project is "risky" when it is difficult to integrate the system with the already existing technology.
ReplyDeleteA project that would not be considered "risky" would be if the University made an easier to manage website to make it easier and more effective way of registering for classes. The new application would still be dealing with registration, would not be too big of a project, and would make registration easier for all new and current students.
In the terms of Technical Feasibility a "risky" project would simply mean a project that involved an application that wasn't familiar to the users and analysts. Because technicality deals with the question of "can we build it?" an unfamiliar system or unfamiliar technology to work with would result in a risky project.
ReplyDeleteThe definition of a risk project is a project that is large in size and contains technology that employees aren't familiar with. An example of this would be a calling listed that is presented in a program that isn't explained to employees on how to use.
ReplyDelete