Project Management



Project Management

Question 1

In a project to build or upgrade data center physical infrastructure, a structured and standardized process provides the essential foundation for efficient project execution and a successfully deployed system. A model for such a standardized process is described in White Paper 140, Data Center Projects: Standardized Process. A major element of this standardized project process is project management, which guides the project through its various phases and coordinates the work of all parties to the project. Even if a project is being led by an experienced consulting firm, there will be other parties to the project - the end user, various hardware or service providers, a general contractor - who have a role in the management of project activity. The responsibilities and interrelationships among these various contributors must be coordinated and documented in order to avoid dropped handoffs and ambiguous responsibility. Such problems are not necessarily due to flaws in the activity of the parties involved, but rather to the lack of an overarching, shared process guiding all parties as a management team, clarifying accountability and communication. Project management is the way of managing change. Everything from the Olympics to organizing a wedding can be considered a project. It describes the activities that meet specific objectives and can be used to introduce or improve new or existing products and services. The APM definition of a project identifies two of the key features:

Uniqueness

Projects are separate to business-as-usual activities, requiring people to come together temporarily to focus on specific project objectives. As a result, effective teamwork is central to successful projects.

Transience

A project has a specific start and end point and is set up to meet specific objectives, to create a specified result, product or service (Heerkens 2002).

Question 2

Risk management is a process for identifying, assessing, and prioritizing risks of different kinds. Once the risks are identified, the risk manager will create a plan to minimize or eliminate the impact of negative events. A variety of strategies is available, depending on the type of risk and the type of business. There are a number of risk management standards, including those developed by the Project Management Institute, the International Organization for Standardization (ISO), the National Institute of Science and Technology, and actuarial societies.

Types of Risk

There are many different types of risk that risk management plans can mitigate. Common risks include things like accidents in the workplace or fires, tornadoes, earthquakes, and other natural disasters. It can also include legal risks like fraud, theft, and sexual harassment lawsuits. Risks can also relate to business practices, uncertainty in financial markets, failures in projects, credit risks, or the security and storage of data and records.

Goals of Risk Management

The idea behind using risk management practices is to protect businesses from being vulnerable. Many business risk management plans may focus on keeping the company viable and reducing financial risks. However, risk management is also designed to protect the employees, customers, and general public from negative events like fires or acts of terrorism that may affect ...