PDF Ebook Quantitative Analysis Methods for Information Technology Project Management Processes
According to the literature on project management, software projects are costly endeavors that can fail—often catastrophically. To reduce the risk of failure, various authorities have proposed statistical methodologies for software project management. The need for statistical project control is suggested, in part, by studies that compare the results of outsourcing to companies with weak and strong statistical control processes, as measured by the Capability Maturity Model (CMM), a common metric for assessing software process quality. Work on statistical methodologies includes studies by Sauer et al., which propose internal company expectation benchmarks, based on project size and volatility; a study by Xia and Lee on Information Systems Development Project (ISDP), which proposes strategies for preventing and resolving project complexities; and a study by Keil et al.
on risk identification frameworks, which describes a universal set of software development project risks and a high level framework that may be used to create effective risk mitigation strategies.
Project Management is the process of planning, organizing, monitoring and adjusting a project’s direction (Tsui). A 2001 report showed that the US spends 2.3 trillion dollars on projects every year, an amount equal to 25% of the nation’s gross domestic product (PMI). The failure to successfully complete major software projects have even proved fatal to their sponsoring organizations including, American LaFrance and FoxMeyer Drugs.
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PDF Ebook Quantitative Analysis Methods for Information Technology Project Management Processes
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