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• W2169558897 abstract "We propose a method extension for forecasting project risk that enables an accurate estimate of the financial impact of risks during the execution of an IT project. In addition, the impact to scheduled milestones is accurately forecasted. We applied our method to a commercial high risk project engagement and compared the results to several existing projects that did not implement the method. Our results show that the method is able to yield an improvement in delivery execution. This is measured as a function of several metrics including milestone achievement, project gross profit, and customer satisfaction rating. The method accurately estimates the effort of both technical and functional risks of a project, achieving an overall improvement over existing projects of similar complexity and risk. 1.2. Motivation Our motivation is improvement in the software engineering process and management of software development projects. We trial our forecasting approach on a commercial project engagement, comparing our results to several IT projects (as the risk control group) of similar complexity, size, and cost. Our results show that use of the extended method for project risk forecasting yields improvements in the three metrics; with an increase in gross profit, customer satisfaction, and milestone achievement. 1.3. Contribution In this paper we view the main contribution as devising several extensions to existing project risk forecasting methods and report the outcome of applying the approach to an IT project. The extended process enables more accurate projection of both risk cost and compliance to scheduled milestones. We present the results of applying our method to a commercial IT project implementation, demonstrating benefits over contemporary techniques. The key extensions proposed include:" @default.
• W2169558897 created "2016-06-24" @default.
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• W2169558897 date "2005-01-01" @default.
• W2169558897 modified "2023-09-27" @default.
• W2169558897 title "Project Risk Forecasting Method" @default.
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