Risk Management

20.09.2012

Risk Management

Today we discussed about risk management. It is a important lesson to final year project also.

Risk management is a something that can provide positive outcomes and negative outcomes. That can be positive image as well as negative image to manage risk. If people don't talk that risk it's a revolution. 

"Risk is a part of every human endeavor"

“it can be argued that every major advance in human civilization, from the caveman’s invention of tools to  gene therapy, has been made possible because someone was willing to take a risk and challenge the status quo”

Status quo means that current standard that is considered to be risk. Because user doesn't know the outcome. Also it is a expected standard.

       ex: Usually shops opens at 9.00 a.m. to 7.00 p.m. What if someone identify it in wrong way. Shops     opens in 24 hours.

Uncertainly Avoidance.

Basically uncertainly avoidance means that not sure of the outcome. Risks can be uncertain.

Three ways of Addressing Risks.

     1.   Risk Identification / Risk Detection.

               ex: Put extra wheels to bicycle.
                    Would ware the body arms & all other protectors.


     2.   Risk Avoidance.

               ex1: To detect risk.
                      Smoke detectors to identified the smokers.

               ex2: Risk avoidance.
                      Use air bags and princles.



     3.   Risk Acceptance.

               ex1: Identify the risk.
                      Put vehicle censers.
                      If some things goes wrong we have a insurance to clam the damage.
               ex2: Having not site & honey pots.

There are certain cultures people are more proactive and avoid the uncertainty. In German there are 65% of high certainly avoidance, Singapore 8% and Denmark 23%.

In the society naturally certain people are risk managers.
        ex: In USA all the people has insurance.

Important of Risk Management.

• Projects are, by definition, risky enterprises.
• Implications of project 'failure'.
• Use of estimates/assumptions.

What Risks do Projects Face?

   1.    Strategic risks.

• Project abandonment.

                - Big organizations outsources there project to small organizations. What if they stop the businesses. It also affect the big organization.

• Massive over - run / over - spend.

                - Extend project title line and budget.

• Loss of client confidence / Future business.

                - Doesn't fulfill the customer's satisfaction because of low quality. That customer will not come back to the organization. It affects to the organizations image.

   2.    Operational risks.

• Constant change / Re-planning / Inefficiency.

          - Describes requirements.

          - Identify feature creep --> Some requirements will be added in the middle of the project.

          - So need to re-prepare for the project plan.
          - Then need to change the entire schedule.
          - Then need to negotiate with the customer.
          - It's a kind of a win win situation.

• Over-run / over-spend.

          - Extending of your time period and budget.

• Low morale / unacceptable working conditions.

          - Imagine that your clients are in the European countries. They will pay you the end of the business transaction day. If the organization is not paying the monthly salary to employees, they will loss the company.

Risk Continuum.

                No risks.

              Total risks are in here.                               Uncertainty.

There are certain risks in when entering to the new market, organization don't know who will be the customers, competitors and supply chain.

If organization have all the information then there will be no risks.

Risk Management Process.

   1.   Risk Planning.

           Risk management is a part of any organization activity. All the organizations come up with disaster recovery planning after the Central Bank blooming.

   2.   Risk Identification.

            Why should organization need to identify risks. Most experience people are in the offices and they identify what are the risks in the company.

- All the projects have risks.

- There are not any projects with out any risks.

- Each project is unique. It based on the customer requirements.

- Organization can not include previous risk management strategy for the new project.

- Risk management plan always change according to the project.

- Need to be clear what is the risk in the organization.

- Identify the impact or outcome of the project.

- Impact must be measurable. Negative impacts needs to be negotiate.

   3.   Risk Analysis.

            Maintain risk database. It helps to awareness of risks.

   4.   Risk Response.

            When offer ISO to the organization they look at the risk management plan and Disaster recovery plan for that organization.

   5.   Risk Action.

- This is instance.

- Can not measurable.

Learning Gain and Personal Opinion of the Lecture.

Good lesson to learn about risks. This will be very useful to final year project proposals risk management.

Presentation Skills

27.08.2012

Presentation Skills

Your brain starts working the moments you are born, and never stops until you stand up to speak in public.

Spotlights.

1. Subject matter.
2. Preparation.
3. Speaker.
4. Audience.
5. Visual aids.
6. Delivery.

Types of Presentations.

1. Lecturers.
2. Academic conferences.
3. Clubs and societies.
4. Training.
5. Project presentations.
6. Business presentations.
7. Sales.
8. Product design.
9. Speeches.
10. Client meetings.
11. Policy meetings.

Presentation is not with a slides all the time.

Think About the Last Time You Gave a Presentation.

• Why did you give the presentation?
• Where were you?
• How long did the presentation last?
• Who was the audience?
• How well did you know them?
• Do you think you made a good first impression?

How to Make a Good First Impression.

• Take a moment to gather your thoughts and ideas.
• Don't read the first few paragraphs of your presentation.
• Maintain good eye contact with the members of your audience.
• Control your voice - Voice modulator.

- Pitch and the sound.

- Use voices to emphasis, because people might have high and long voices.

• Pause is your friends use it.

- Give some time to recollect things to audience.

- It's good to you and audience.

- It'll give some time to think what you are going to talk next.

• Don't speak too fast.
• Act natural through out you presentation.

- Some people become very greater extending.

        ex: Use all hands.

• Avoid items and topics that are not directly apart or your speech.

- Stuck to your boundary.

- Summarize your main points (Recap).

Subject Matters.

The material of your presentation should be:

• Brief.
• Practice.
• Effective.
• Interesting.

How to Open a Presentation.

1. Use one of the following each based on the context its used.

• Surprising facts.
• Story.
• Questions.
• A joke.
• A quote.

    2.   Types of presenters you will be using these. How else can you gain attention?

• Demonstration.
• Picture.
• Video.

Preparation.

1. Prepare the logical structure of the talk.

• Opening (Introduction and content).
• Presentation body.
• Conclusion (Recap and objective).
• Follow up.

     2.   Be familiar with your presentation material.

• DO NOT read off a script.
• Prepare cure cards with key points.

- Become which we are taking we might forget things to avoid that.

Oral Communication.

Rehearse the talk very well.

     ex: Since English is not our first language so we need to rehearse and practice.

Speaker.

Know and manage your self for an effective presentation.

• Know your audience.
• Professional attire.
• Confidence.

- If not audience will not take you serious.

• Keep eye contact.
• Power of pause.
• Body language for gestures.

- Non verbal communication with your body.

- Never put your hands in the pocket.

• Avoid jokes.
• Keep to time.

Delivery.

• Speak clearly.
• Don't rush or deliberately slowly be natural.
• The audience will get bored with something on the screen for more than 5 minutes.
• Change you delivery depending on the importance of points.
• Use body language to emphasize points.
• Look at the audience but don't fix on an individuals.

- Look around all the audience.

• Leave time discussion.

Remember.

• Few people have natural presentation skills.
• For most of us it is something special thing.
• People need to continue it with talent.
• You never get a second chance to make a good first impression.

Learning Gain and Personal Opinion of the Lesson.

Good lecture to improve the presentation skills.

Project Management & Development Methodology - Part II

17.09.2012

Project Management & Development Methodology - Part II

Project is a systematic, achieves the clients expected outcome and must complete with in the particular time period. Project management means by achieve what's in your mind.

Project Management.

1. Four Disciplines of Project Management.

• Planning.
• Organizing.
• Managing.
• Controlling.

These four must have to achieve the project goals.

    2.   Aims to complete the project below three factors. Which are quality, time  and cost.

Quality - How it servers to the clients requirements.

Time    - How to complete it with in the given time period.

Cost    - Cost should be not so much high, but it should be in a good quality.

If any of these factors changes it affect to the other two also.

     3.   Work to series of check points.

     4.   Control the project by utilizing software.

     5.   Project scheduled to the earliest possible date.

     6.   Delays identified to increase the resources.

                ex: In Virtusa in this situations they uses employees who are in bench.

- These methodologies are uses to go through with the time logs and forward the work from that.

     7.   Use Information System development methodologies.

- Identify phases, techniques and deliverable s using the software development methodologies.

                ex: Structured Systems Analysis and Design Methodology (SSADM).

• SSADM is a document driven methodology used by design, physical and logical.
• Doesn't have development phase.
• Used in requirements are uncertain. It means by it's difficult to understand the requirements.

     8.   Project should goes through a sequence of tasks / activities.

- It encounter with problems.

     9.   First break down project into tasks / activities.

- Use work break down structure to each employee.

                ex: Gannt chart - It include with the time allocate to each task.

                      PERT chart (Program Evaluation Review Technique Chart).

- From these charts it identifies the each sub activity depends on the previous task that criticized on.

- Example of a PERT chart activity.

            Activity                                  Time (Weeks)                                  Immediate Predecessors

A - Plan & schedule                                  5                                                                    -

B - Await hardware delivery                    18                                                                    -

C - Programming                                     70                                                                    A

D - Install hardware                                 10                                                                    B

E - Program testing                                  30                                                                  C, D

F - Write user manual                              25                                                                    D

G - Convert files                                      25                                                                    D

H - System test                                        25                                                                    E

I  - User training                                       20                                                                    F

J  - User test                                            25                                                                G, H, I

Earliest Completion Time (ECT), Latest Completion Time (LCT), from those two Slack time and the Critical path will be calculate from the PERT chart.

Earliest Completion Time (ECT) = ETC of the preceding activity + duration

                                                  

Latest Completion Time (LCT)   = LCT of the prior activity – duration

                                                  

Total Slack Time                        = Latest Start - Earliest Start

Critical path

     - A series of events and activities with no slack time.

     - At least one complete path will exist where every node has equal ECTs and LCTs.

    - If any task on the critical path is delayed beyond its LCT, the entire project falls behind by that amount of time.

• In project management need to involves with slack activities as well.

             10.   Allocate time and resources to each task.

             11.   Inter relationships between activities established.

             12.   Using information critical path can be established.

Purpose of Project Manager.

1.          Make sure you do your work in proper time.
2.          Encourage the student.
3.          Provided advice.
4.          Make sure to bring log sheets and complete it.

                         Use of Log Sheet.

•          Identify questions.
•          Identify the things what you need to discuss.
•          Notify what are the additional things need to ask from the project manager.
•          Access performance to ask.
• 
  

         Preparation for Supervisor Meeting.

1.          Go through your work.
2.          Prepare for the list of questions.
3.          Be clear on your plan.
4. 
   

Learning gain of the Lecture.

Learn more information about the project management. Re prepare for the PERT chart. Gather information about the log sheet and how to preparation for the supervisor meeting.

Personal Opinion.

         This is another important lecture for the final year project.

Software Development Methodology

17.09.2012

Software Development Methodology.

Software Development Methodology also called as System Development Methodology. Software engineering is a framework that is used to structure, plan and control the process of developing an Information System.

As a simple example we’ll identify how to make a cup of tea used by methodology, you need to;

1. Make the equipment ready.
2. While boiling the water need to prepare the mix of the content.
3. Then put the water in to the mixture and make the tea.

Things do in Software Development Methodology.

1. There are certain steps you can do it as partially and individually.
2. Follow steps in a sequence manner.
3. Every software development project makes sure it develops well.
4. Output makes a good quality.

Models and Life Cycles used in Software Development Methodology.

• Spiral model.
• Waterfall model.
• V lifecycle.
• Throwaway prototyping model.
• Evolutionary prototyping model.
• Incremental / Iterative development.
• Reusable software model.
• Automated software synthesis.

Methodologies used in Software Development.

1. Structured System Analysis and Design Methodology (SSADM).
2. Dynamic System Development Methodology (DSDM).

                - Used for rapid development.

Three Types of Failures in Software Development Methodology.

1. Have you kept your project within the budget?
2. Is that in proper scheduled?
3. What degree have you met the requirements?

• 80% of software development project failed because of those three reasons.
• Check whether you used an appropriate methodology to your project.
• Don’t stress up with a structured methodologies with structured techniques.
• Simple software development methodology is a System Development Life Cycle (SDLC). It has a very structured flow in a sequential manner.
• The every software must according to the SDLC methodology.
• The extended version of SDLC is Structured System Analysis and Design Methodology (SSADM).

Structured System Analysis and Design Methodology (SSADM).

1. The outcome might come up with the customers’ outcome.
2. This doesn’t tell how to test, develop, deploy of the project.
3. In feasibility study it’s a bit different. The technical things might be bit difficult.
4. After that need to do an analysis. Identify what are the customers’ expectations.
5. Then come to functional and non – functional requirements of the project.

                   Functional Requirements.

• Requirements of your system that you must need to be implemented.
• If you not do that, the problem might not solve.

                   ex: Security.

                   Non - Functional Requirements.

• Add more quality to the system.
• Additional details of the system.

                   ex: When user login to the system it displays the last three transaction of the user.

      6.   The way you define it depends on the project you make.

      7.   Identify the logic of the requirements.

      8.   How you are really going to use.

      9.   Design physical user interfaces (How hardware looks like).

                   ex: Design the hardware.

Techniques used in Structured System Analysis and Design Methodology (SSADM).

1. Logical data modeling – This involves the process of identifying, modeling and documenting data.
2. Data flow modeling – Uses ELHD
3. Entity behavioral modeling.

Categories of Methodologies.

• Data oriented design.
• Function / Process oriented design.
• OO methods.
• User oriented design.
• Hypertext methods.
• Web methods.
• Instructional design methods.
• Hybrid methods.

RVP.

1. Encryption.
2. Elaboration.
3. Construction.
4. Transition.

• Unified Modeling Languages allows you to analyze the projects, make by rational.
• Above four phrases are enough to complete all software development methodology.

Disciplines of Software Development Methodology.

1. Business rule modeling.
2. Requirements.
3. Analysis and design.
4. Implementation.
5. Test – Check whether the content is correct or verify it.
6. Deployment.
7. Configuration and change management.
8. Project management.
9. Environment.
10. These all field has interaction to each other.

Prototypes in Software Development Methodology.

Agile Manifesto.

• Not a methodology, certain statement.
• Believes of peoples’ make.
• Made by consortium (Group of people).

                 - Manifesto for Agile software development.

• Individuals and Interactions over processes and tools.
• Working software over contract negotiation.
• Responding to change over following plan.

Agile Methodologies.

1. SCRUM

                 - Which originated in concept on Rugby.

    2.   DSDM

                 - It's a heavy methodology.

                 - Starts in a sequential manner (Sequence of iterations).

Things to Consider When Selecting a Methodology.

1. Scope
2. Deliverables.
3. Constraints - It depends on each unique project.
4. User involvements - Level of user  involvement.
5. Nature of the project - Most important factor of the project.

Learning gain of the Lecture.

Learning about software development methodologies.

Personal Opinion.

This is a very important lesson to my final year project.

Field Trip to Virtusa.

06.09.2012

Field Visit to Virtusa.

Introduction about Virtusa.

We go as US company location in USA , UK and  Hyderabad another European countries. It’s a public company. The largest development centers are in Chennai and Hyderabad. There are 89 active clients collaborate with Virtusa. As an IT organization we have several goals, those goals are establish in couple of years. One of their targets is increase revenue up to 500 million in two years time. They have actually skilled people to achieve our targets.

Virtusa use a java, Software Company and they have expert in banking system also. Customers are looking for several services from Virtusa. We are also going with business consulting, set down customer business they’re looking for business process and analysis the business.

Other than that many customers are working with them, many banking clients are working with they since several years. JP Morgan is one of our best clients in Virtusa since 10 years. Our main customers are banks insurance companies.

         1.      Global Enterprise.

          - Headquarters in Westborough, MA.

          - Location in US, Europe and Asia.

          - Technical centers in United Status, United Kingdom, Netherland, India and Sri Lanka.

         2.      Over 5,650 world class professionals.
                - 89 active clients.

         3.      Rapidly growing and profitable
               - FY 2012 revenue: $277.8 million.
               - Operating income: $23.9 million.
               - 10 year revenue CAGR: 32.47%

         4.      Listed on NASDQ (URTV)

               - United Status.

               - United Kingdom.

               - India.

               - Sri Lanka.

               - Singapore.

         5.      Fortune 500 customers.
               - BFSI – ING.
               - Stan.char.
               - Citi.
               - New York Life.
               - Communications – Cisco systems.
               - Level (3).
               - Qwest.

         6.      Technology.
               - Skills ft.
               - IBM.
               - NEW.

         7.      Media and Information.
               - Thomson Reuters.
               - National Geography.
               - travel.

         8.      Healthcare and life science.
               - Alere.
               - Clgna.
               - Aetna.

         9.      Others.
               - P&O Ferries.
               - M.
               - . Net.

       10.      Awards and Recognition.

         Virtusa recognized the industry among the customers.

         - Globe 100

         - Fintech 100 2011

         - 100

         - Best Top 20

         - Boston bus. Jernal – Convenience that customer recognized about the industry.

        11.      Responsible Corporate Organization.

  - Our team members are going out and help to master programs.

  - We did CSR project for government.

  - We go back to schools and invite to students to visit our company and check out our careers. And             we check information about the students such as student extra activities, sports and encourage the students.
  - Over 120,000 students benefited from digital read initiatives.
  - To date we have up 75, it labs in rural areas.
  - Akura school management system.
  - To date 700+ interns have worked across all our locations in Asia.
  - Foundation contribution to Sahana after tsunami.

          - Provided total of 21,000 computing training.

        12.      Domain expertise (Sectors).
                - Telecommunication 30%
                - Insurance.
                - Banking and financial 58%
                - Media and entertainment.
                - Health care.

       13.      Projects.
                  a.  British telecommunication – Telecom fault communication.

     - We built a mobile solution and try to solve business problem efficiency using IT.

   
     Technology used – iPhone, Android, Blackberry mobile software.

   
     Solving problems with business proficiency.

b.  E-Gateway.

c.    Pratt and Whitney.

          - Largest air craft engine in the world.

          - Keep tracks of all the engines and manufacturing schedule of air craft.

          - The solution was iPad based application. Help track of the life cycle of aircraft components.

          Technology used - .Net

          100+ merchants every flight, try to find out each of it.

      d.    JP Morgon chase - Cheque scanning & depositing iPhone, Android, Blackberry.

           - Mobile based application.

          - The client wanted take pictures of check and file all the details of all the Cheque, without going to bank.

           - The system basically improves the customer experience and service.

      e.    Philips – A fall tracker for patients.

             Technology used – BPM / PEGA.

             This is the coolest project that Virtusa currently running for.

         14.      Training.
          - They train to improve their employees’ software skills and communications to develop customer interactions to deal with businesses.
               - On boarding.
               - Personal engineering excellence.
               - Technology.
               - Soft skills.
               - Team building.

         15.      Career path.

                 - Assistance executive.

                 - Executive.

                 - Senior executive.

                 - Business executive.

                 - Senior business executive.

                 - Assistant manager.

                 - Manager.

                 - Senior manager.

                 - Senior director / Director / Assistant director.

                 - Executive VP.

         16.      Career and Growth.
                 - State of the art learning environment.
                 - Books.
                 - CBTS.

         17.      Monitoring and buddy system.
                 - Maintain and leading.
                 - The one goal of the organization is 80% of leadership position opportunity within the organization.

         18.      Competitive cost and benefit.
                 - Basic salary.
                 - Motor car allowance.
                 - Quarterly bonus.

         19.      Social media helps to internal things to interesting.
                 - Yammer.
                 - Vingo.
                 - V+
                 - vTube.

         20.      Clubs.
                 - Virtusa night.
                 - Hobby clubs.
                 - Sports clubs.
                 - Recreational clubs.

         21.      Benefits and facilities.
                 - External training programs.
                 - Transport services.
                 - Social media – dedicated PCs with Face book, Youtube, Google, Twitter, LinkedIn.
                 - Knowledge management e collaboration learning with 5000 Virtusains.

Business Process Management (BPM) Awareness Session.

- Our employees are not only developers, but they are managers, business analysis, and business architecture. They need to know business process, business models as well as accounting.

- Business process management is always changing and not statics but dynamic we need to customer demand.

How Industry Growth.

Why do they manage a business process?

1.  Business preference relies on their processes.

2.  Business preferences.

3.  Time.

4.  Cost.

5.  Quality.

6.  Customer orientation.

7.  Employee orientation.

8.  Working culture.

BPM Accounts.

Chennai	Colombo (Advance Technology Center)	Hyderabad
BNP Paribas	Prudential	Carnival
ING	BT	Cordys
Cue cent	HMSA	Standers and Poor’s
BNP Paribas	CMC Markets	JLT
Standard Chartered	Citi group	Celgene
Tenet	Philips	Sullie Mae
PayPal	Corner	Bank of America
	Chartis	Miller New
		JP Morgun Chase
		Cardif pinnacle

Client Portfolio.

1.  Banking.

     - Citi.

     - HSBC

     - PayPal

     - JP Morgun Chase.

     - Standers and Poor’s.

     - Standard Chartered.

2.  Health care.

     - Tenset.

     - Alere.

     - HMSA

     - NASCO

     - Celgene.

Learning gain of the Lecture.

Gather most of the information about the Virtusa Pvt Ltd.

Personal Opinion.

Interesting journey.