Project Risk Management

Survey Questionnaire
12/28/2011

Objective
We the students of Bachelors in Business Administration (hons), Information Technology Management, from International Islamic University Islamabad, working on a report titled as Project Risk Management, under the course, Project Management. Our aim of work is to utilize the concepts which we have studied and to understand the phenomenon of Project Risk Management in a software company. We have to perform this survey by filling up the questionnaires from a Project managers currently working on IT project in Software Company, chosen randomly, using structured, unstructured, & ranking questions.

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DEMOGRAPHIC SHEET
Industry/Domain: IT Telecom Software Service Other________

Company Name: Organizational Chart: Team Members: Project Title: Project team leader: Sponsors: Estimated cost: Estimated duration: Actual cost: Actual duration: Important stakeholders :

_____________________________ _____________________________ _____________________________ _____________________________ _____________________________ _____________________________ _____________________________ _____________________________ _____________________________ _____________________________ 1) _____________________________ 2) _____________________________ 3) _____________________________

NOTE Kindly respond to ALL the items and do NOT leave any item un answered.

Project Details:

1. Enlist five External risks in the project and please rank them:

Risk
1. 2. 3. 4. 5.

Rank

2. Enlist five Internal risks in the project and please rank them:

Risk
1. 2. 3. 4. 5.

Rank

3. Categorize your company as (please mark one of the following):

a. Risk Seeker b. Risk Averse c. Risk Aware d. Risk Ignorant 4. Which Risk management technique you have used in the project: a. Risk Transfer b. Risk mitigation c. Risk sharing d. Risk tolerance

Risks
Low

Impact
Medium High Critical

Remedy

Over budget

1-5%

5-25%

25-50%

50 above% 50 above% 50 above% 50 above% 50 above%

Poor quality

1-5%

5-25%

25-50%

Delay Organization Nonsupport Documentation

1-5%

5-25%

25-50%

1-5%

5-25%

25-50%

1-5%

5-25%

25-50%

5. Which risk Analysis technique you have used in the Project a. Quantitative b. Qualitative c. Both 6. Which of the following applications of various qualitative and quantitative tools and techniques you have used in the project in risk analysis: a. Monte Carlo simulation b. PERT

c. Fault tree Analysis

d. Risk Mapping e. Delphi technique

f. Cause/Effect diagrams g. Other_______________________

____________________________________________________________________________________ (PART1)

INSTRUCTIONS:
For each statement, reply with any number from 1 to 5.Responses is made on the following five-point scale: -. Indicate the level of agreement (or disagreement) for each statement.

1 = strongly disagree

2 = disagree

3 = Neutral

4 = Agree

5 = strongly agree

S.No
i.

Questions
Personnel shortfalls and unrealistic schedule and budget are the frequently encountered risks in most of the Projects. Risk would be effectively managed in software development with the involvement of the concerned stakeholders. Risks having high consequences are more dangerous than those having high probability. Small projects have high failure rate as compare to large project. Due to proactive actions, project completes within scheduled time and budget and no resource related issue throughout the project but being time and cost consuming, reactive actions are more preferable. The larger the organization, the greater the importance attributed to risk management as a factor in project failure. It is better to analyze risk at the project level

ii.

iii.

iv.

v.

vi.

vii.

viii. ix.

instead of work package level due to the nature of the project for instance small and concise. Your company has a dynamic risk management plan for different domain projects. Past project risks are revisited for future project risk assessments. There is a correlation between schedule and budget overrun. However, this correlation is much stronger in cases with budget overruns, than in cases with schedule overruns. A serious budget overrun meant a serious schedule overrun. But most of those projects with serious schedule overruns did not have a serious budget overrun as well. If the Risk register is maintained to monitor each risk event along with the implementation progress of each work package & it will eventually helps in making various decisions across the project phases. Certain compromises can be made regarding unit testing if there are schedule problems.

x.

xi.

xii.

__________________________________________________________________________________ (PART2)

INSTRUCTIONS: "Please rank each of the following items in order of importance, from the #1 most important item through the #10 least important item:
1. Rank the areas of project management that contributed to serious budget and schedule overruns:

Factors
Project management execution The project team Risk management Project accountabilities

Rank

2. Rank the following, while appointing a change agent:

Factors

Rank

Within the company, managers are appointed as change agent Outside consultant who is brought in during the period of change No change agent is required

3. Rank the Project manager failings that can contribute to serious budget overrun:

Factors
Risks were not addressed in several areas. The project manager did not have the required skills or expertise. Project progress wasn t monitored & corrective action wasn t initiated The experience, authority and stature of the project manager were inconsistent with the nature, scope and risks of the project.

Rank

4. Rank the following which factors are used more for risk identification in projects:

Factors
Expert judgment Plan decomposition Assumption analysis Decision drives Brainstorming

Rank

____________________________________________________________________________________ (PART3)

INSTRUCTIONS: Please briefly and directly answer the following Questions:

1. What is the major reason for the failure of IT projects?

_____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________

2. How do you respond to Risks in your IT projects?

_____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________

3. Do you have a company policy on project risk management if yes then for how long and what is your approach to Project Risk Management?

_____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________

______________________________Thank You_________________________________