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Tradeoff Analytics for risk management in IT project with mobile device

IP.com Disclosure Number: IPCOM000243568D
Publication Date: 2015-Oct-01
Document File: 6 page(s) / 152K

Publishing Venue

The IP.com Prior Art Database

Abstract

A dynamic project risk management technique on mobile device which helps in tradeoffs in decision making. Predictive models like defect turnaround time and team member availability prediction helps to tackle the occurrence of unidentified risk during different phases of software development life cycle.

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Tradeoff Analytics for risk management in IT project with mobile device

Disclosed is an IT Project risk management technique, and more particularly to analyzing impact on schedule affected by occurrence of risk (issue or defect) during software development activities. It helps in decision-making during software development activities having risk associated with it. The impact to the project and the actions that need to be taken, to ensure the project meets its goals, is compromised today; enormous heroism is expended to bring projects on track. Untimely or incorrect decisions are taken in the course of the project, due to quality of information is unavailable.

The common approaches used to predict risk in software development process are based on the maintenance records of software products which can be collected from different releases of software products. Traditional analytics and statistical methods [1-2] fail due to the complex non-linear and multi-variable combinations.

As per study [3, 4, 19], 39% of all IT projects succeeding (delivered on time, on budget, with required features and functions); 43% were challenged (late, over budget, and/or with less than the required features and functions); and 18% failed (cancelled prior to completion or delivered and never used).

If we deep dive to understand the reason of failures, most important factor comes out as facing problem in "trade-offs" during decision making by project managers. 44% of managers feel tradeoffs difficult and 36% consider it as somewhat difficult.

This technique includes risk management software tool which is capable of providing assistance to
project managers in tradeoffs during decision-making with combination of statistical methods and predictive modeling technique. Different predictive models can be identified during different phases of software development, which can provide history data support with help of advanced analytics. All the complex computation can be hosted and deployed on cloud server in form of real time scoring engine, which can be consumed by user's mobile app or web browser.While creating predictive models, it requires relationship between data. Finding important predictors is crucial step in data preparation for predictive model. statistical methods [5-10] like Critical path, PERT, Gantt chart, Pareto chart, etc can help to create entry criteria [11-13] for our predictive models like defect turnaround prediction, critical resource (project member) availability prediction, etc.

Main idea:

Statistical methods like Critical path, PERT, Gantt chart are usually used in project scheduling, but new or unforeseen defect can impact drastically the schedule. Some time we may miss the important requirement in non-critical path, and it may cause high priority defect, which is a major risk! In this scenario project manager has to tradeoff between many things to stream line the development process. Taking one of the approaches of the proposed solution...