Question

can someone answer this questions for computer engineer students

Risks and Mitigation

What are the key milestones and checkpoints in your plan?

How will you measure/determine if you have successfully attained these milestones?

How do you define success?

What external factors might affect (positively or adversely) your attaining success?

Develop contingency and risk mitigation strategies.

Answer 1

Answer:-

What are the key milestones and checkpoints in your plan?

A milestone is a way to observe, measure and monitor the progress and/or performance of a project. Milestones in general exist as intermediate stages that must be fulfilled before reaching a final goal or objective. In terms of their usefulness, milestones can be defined and provide a foundation from which to monitor progress. They can also serve as proof for explaining and reporting the status of a project. Key characteristics of milestones include their frequency and potential for providing opportunities for course corrections and learning experiences. Milestones can also be used to maintain accountability and motivate staff.

depends on the methodology and the "discipline". You can have delivery checkpoints such as the showcase at the end of an Agile Sprint, a planning checkpoint such as the backlog grooming session during an Agile Sprint.

How will you measure/determine if you have successfully attained these milestones?

by meassuring

One of the most important aspects of a project manager’s job is measuring progress on each task. It helps employees stay focused and meet goals, and it helps project managers stay on top of what’s happening in the workplace. The first step of effective leadership is helping others stay on task, keeping team members engaged and holding everyone accountable. Here are just a few effective ways of tracking project progress

How do you define success?

How you define success will be based entirely upon your own values, career ambitions, and life experience. Although you should be honest in your answer, it’s also a savvy strategy to try to show how your perspective on success aligns with the employer’s needs and would make you a productive employee at their organization

What external factors might affect (positively or adversely) your attaining success?

1. Bad Habits

Bad habits can halt forward momentum. Becoming aware of your bad habits and replacing them with good ones is vital to achievement. I started by writing down my bad habits: Do I watch too much TV or play too many video games? Does this keep from getting my to-do list done? By writing them out, I became aware of how much time these things sucked from my day and detracted from more productive activities. Getting closer to achieving your dreams starts with awareness and knowing you could be doing something else, something better with your time.

2. Limiting Beliefs

Limiting beliefs can be caused from outside influences that affect your thoughts and actions. Growing up we were told by parents and teachers what we should do and how to do it. They told us what was wrong and what was right. This has been programmed into our belief system, and our adult brains default back when we’re faced with a scary and unknown situation. I used to have many limiting beliefs. I wasn’t sure how things would end up, and I would question what I was doing and why I was doing it. I would ask myself, Who am I to think I can do this? But eventually I had to become aware of my self-limiting beliefs and decide which thoughts were realistic and which ones were created by fear. You create your own thoughts and beliefs.

3. Negative Environment

Associating with a negative person or putting yourself in a negative environment can be the biggest (bad) influencer in your life. No matter how positive you are, a negative person or environment can rub off on you until your mind unintentionally resorts to negative thoughts before positive ones. For the longest time, I thought this wasn’t true. I thought being mentally strong would help me to not be affected by this. But I caught myself complaining, gossiping and seeing the negative first. So I made a conscious effort to lead with positivity. I felt better, not just emotionally, but physically, too. Take notice of your daily conversations. Are you involved or associating with complainers? If you constantly feel rundown and stuck in a rut, it’s time to re-evaluate your environment and see how you can change it for the better.

Develop contingency and risk mitigation strategies.

contingency strategies.:-

While your contingency plan is intended to get you through difficult times, that doesn’t mean that creating one needs to be overly complicated. Here is a simple five-step process you can use to create an effective plan B in case of emergency, ensuring business continuity even through turbulent times.

Step 1: Identify the key risks

The first step in any good contingency planning process is to first identify the potential areas in your business that could possibly cause problems. To do this, many business owners brainstorm with their employees, looking at all areas of business operations and identifying all the things they think could go wrong.

Not only does involving your staff help you identify at-risk areas of the business you might not have considered, it also gets employees involved at an early stage in the process, making them more likely to remember the existence of any plan should an emergency actually occur.

Among the potential risk factors are things like the bank not agreeing to refinance your business mortgage or a software glitch that causes you to lose client data. Here are a few more examples:

• Purchasing: What if your key supplier goes out of business? What if you lose your credit account with one of your major vendors?
• Staff: How would you issue paychecks if your payroll clerk suddenly quits? What if one of your managers or directors doesn’t show up to work for a day — or longer? What if a key player on your team has to take maternity leave?
• Sales: What would you do if your top producing salesperson took a job with your competition? What if one of your new employees committed a social media gaffe and people in your community began boycotting your business?
• Natural disasters: What if the power in your area goes out and you lose access to your data, including customer information and receipts? What if a flood, earthquake, tornado, hurricane, or other natural disaster hits? Do you have a disaster recovery plan in place?

In addition to brainstorming with internal staff, Bush says it helps to have an outsider, such as your accountant or business consultant, “take a look under the hood” and provide some suggestions. After all, potential risks aren’t always obvious.

Step 2: Prioritize the risks

Once you have a complete list of the many possible scenarios that could potentially derail your business, it’s time to identify those that pose the biggest threat. For example, the skills training site Mind Tools recommends doing this by assigning a numeric ranking to each of the possible risks in two areas: probability and severity.

First, give each risk a probability ranking of 1 to 10, then rank it in terms of the possible impact on your business. After you have ranked them all, you can use Mind Tools’ free chart to create a visual representation of how to prioritize the risks.

Step 3: Create a backup plan

Once you’ve identified the scenarios that are most likely to disrupt your business operations, you’ll need to create a contingency plan for each. If your goal is to decide what you will do to resume business in case one of the disruptive scenarios takes place, you’ll need to outline a step-by-step plan for each one. Some of the key points you’ll want to consider are:

• Timelines: When creating contingency plans, be sure to look at them from a timeline perspective. What will you need to do in the first hour after a data loss? What about the first day? The first week?
• Communications: Decide in advance who will be in charge of communicating with everyone else for each scenario. Bush says that for small-business owners, it’s a good idea for them to personally assume responsibility for something this important.
• Staff needs: Talk to each of your departments or employees and have them list exactly what they’ll need to continue operating if a given scenario occurs. Then make the necessary arrangements to provide it.
• Reduce the risk: For example, for natural disasters, you can reduce the risk by making sure you have adequate insurance coverage. To reduce the risk of a data loss, you can store yours securely in the cloud and stay informed by signing up for free bulletins about current cyber risks from the Department of Homeland Security.

Because each risk calls for a unique contingency plan, you’ll have to devise one for each. If you’re creating a plan for natural disasters, the Red Cross offers a Contingency Planning Guidethat could help.

Step 4: Share the plan

Once you’ve identified the potential risks and created a contingency plan for the risks you deem most likely to have a severe impact on your business (should they ever occur), you need to share those plans. After all, the plan won’t be effective if no one knows it exists.

Create a communication strategy to get the word out. You might consider a meeting where you call together all your employees to let them know you’ve created a backup plan in case of emergency. Alternatively, you might want to create a series of emails to announce the plan’s creation, as well as where to access it. No matter how you decide to communicate with your employees, just make sure they’re familiar with the company’s contingency plans.

Step 5: Maintain the plan

Now that you’ve created contingency plans for each of your risk areas and communicated them to your staff, you’ll need to ensure that those plans are updated on a regular basis and are easy to access if you actually do need them. Bush says business owners should consider reviewing the plans quarterly, and perhaps even monthly if you work in an industry where regulations change regularly or innovation happens quickly.

In addition to keeping your plans updated, here are some other tips to ensure that your plan will be of help should an unexpected situation arise:

• Don’t store the plan only in digital form. While it might seem sensible to keep your plan on a shared drive or in email, what will you do if the power goes out or you lose your data? Without access to the plan, it’s almost as if you never bothered to create it in the first place. To avoid such a situation, it’s always a good idea to keep a copy in paper format.
• Store a copy of your plan both in the office and offsite. You never know if something might prevent you from going to your company’s physical location, so it’s always good to keep a copy stored elsewhere.
• As you make changes to your contingency plan over time, make sure that you continue to communicate those changes to all your employees. And if you change where the plan is stored, make sure they’re also aware of its new location and continue to have easy access.
• Periodically as you revisit your plan and as you make any changes, you should also ensure that everyone knows their role in the plan and has the training required to perform their assigned duties in an emergency.

Risk Mitigation Strategies

General guidelines for applying risk mitigation handling options are shown in Figure 2. These options are based on the assessed combination of the probability of occurrence and severity of the consequence for an identified risk. These guidelines are appropriate for many, but not all, projects and programs.

5 Avad Control Transfer Avoid Control Transfer 2 Watch Assume 2 Consequence Probability

Figure 2. Risk Mitigation Handling Options [3]

Risk mitigation handling options include:

• Assume/Accept: Acknowledge the existence of a particular risk, and make a deliberate decision to accept it without engaging in special efforts to control it. Approval of project or program leaders is required.
• Avoid: Adjust program requirements or constraints to eliminate or reduce the risk. This adjustment could be accommodated by a change in funding, schedule, or technical requirements.
• Control: Implement actions to minimize the impact or likelihood of the risk.
• Transfer: Reassign organizational accountability, responsibility, and authority to another stakeholder willing to accept the risk.
• Watch/Monitor: Monitor the environment for changes that affect the nature and/or the impact of the risk.

Each of these options requires developing a plan that is implemented and monitored for effectiveness. More information on handling options is discussed under best practices and lessons learned below.

From a systems engineering perspective, common methods of risk reduction or mitigation with identified program risks include the following, listed in order of increasing seriousness of the risk [4]:

1. Intensified technical and management reviews of the engineering process
2. Special oversight of designated component engineering
3. Special analysis and testing of critical design items
4. Rapid prototyping and test feedback
5. Consideration of relieving critical design requirements
6. Initiation of fallback parallel developments

When determining the method for risk mitigation, the MITRE SE can help the customer assess the performance, schedule, and cost impacts of one mitigation strategy over another. For something like "parallel" development mitigation, MITRE SEs could help the government determine whether the cost could more than double, while time might not be extended by much (e.g., double the cost for parallel effort, but also added cost for additional program office and user engagement). For conducting rapid prototyping or changing operational requirements, MITRE SEs can use knowledge in creating prototypes and using prototyping and experimenting (see SE Guide article on Special Considerations for Conditions of Uncertainty: Prototyping and Experimentation and the Requirements Engineering topic) for projecting the cost and time to conduct a prototype to help mitigate particular risks (e.g., requirements). Implementing more engineering reviews and special oversight and testing may require changes to contractual agreements. MITRE systems engineers can help the government assess these (schedule and cost) by helping determine the basis of estimates for additional contractor efforts and providing a reality check for these estimates. MITRE's CASA [Center for Acquisition and Systems Analysis] and the CCG [Center for Connected Government] Investment Management practice department have experience and a knowledge base in many development activities across a wide spectrum of methods and can help with realistic assessments of mitigation alternatives.