MIS 340 Lecture Notes - Lecture 22: Data Quality, Project Management, Data Integrity

• School: Iowa State University
• Department: Management Information Systems
• Course: MIS 340
• Professor: Townsend Anthony

Document Summary

Two basic approaches: qualitative judgements, quantitative calculations. Three kids of impact to consider: budget impact, time impact, quality impact on deliverables. Establishment of probabilities regarding both the impact and likelihood of specific risk occurrences. Broader judgments of risk: likelihood problem will occur (low to high, impact if problem occurs (minor to major) Likely the most commonly used method of risk assessment: can be formalized to produce useful risk assessments, care must be taken to assess risk seriously. A technique used to analyze project risk in terms of its probability of occurrence and its impact on project outcomes. Assessment of the quality of the data used to assess risk. May include: extent to which a risk is understood, available risk data, data quality, data integrity and reliability. Analysis of the probability of occurrence and impact of risk on project objectives using numerical techniques. Probability the problem will occur (0 to 100%)