A consultancy organization is planning to implement Project Tracking applications

for their key projects. The senior manager wants to check the applicability and
possibility of implementing such an application inside the organization. They
decided to conduct the feasibility study for this application. Provide a report to the
management about how to conduct the feasibility study.
Answer:-
Introduction
IoT (Internet of Things) has been enveloping all areas of human life, be it business and logistics,
healthcare and retailing, transportation, and energy management. IoT feasibility study would throw light
on the potential benefits, challenges, possible implementation roadblocks, and cost outlay. The
potential for the success of an IoT solution is examined through a feasibility study.
Application
Types of feasibility study

Technical Feasibility

The feasibility of the various IoT technologies must be weighed in. The technical feasibility would
include factoring in the power consumption and the number of IoT devices. Battery power capacities
must be evaluated. The wireless communication devices have to be selected. The vendor support for the
IoT devices and their safety certifications are also important considerations. Support requirements
must not be ignored in the IoT project's technical feasibility.

Security Feasibility
The security of the IoT solution is a very important aspect. Data is vulnerable as the devices on the IoT
platform are connected. Be it in commercial settings or industrial or even residential settings, digital
security must be hardened. The security risks must be assessed and adequately planned for. Hackers can
gain entry into just one insecure device and wreak havoc on the entire IoT system. Even implanted
medical devices are liable to hacking.
Market feasibility

It is essential to be clear in the customer benefits that the business is seeking from the IoT
implementation. Implementing an IoT solution is a far-reaching strategy as the technology is
dynamic and disruptive. The solution must be able to react promptly to unexpected turns and
twists and the ever-changing business scenario.

Conducting a Feasibility Study

Step One: Conduct a Preliminary Analysis

1. Describe or outline as specifically as possible the planned services, target markets, and
unique characteristics of the services by answering these questions:

o Does the practice serve a currently unserved need? (e.g., multicultural populations
or age groups who are not currently being served)
o Does the practice serve an existing market in which demand exceeds supply?
o Can the practice successfully compete with existing practices because of an
"advantageous situation," such as better design, price, location, or availability
(e.g., balance assessment and rehabilitation, programmable devices)?

2. Determine whether there are any insurmountable obstacles. A "yes" response to the
following indicates that the idea has little chance for success:

o Are capital requirements for entry or continuing operations unavailable or

unaffordable?
o Do any factors prevent effective marketing to any or all referral sources?

If the information gathered so far indicates that the idea has potential, then continue with a
detailed feasibility study.
Step Two: Prepare a Projected Income Statement
Anticipated income must cover direct and indirect costs, taking into
account the expected income growth curve. Working backward from
the anticipated income, the revenue necessary to generate that
income can be derived in order to build a projected income statement
Step Three: Conduct a Market Survey

A good market survey is crucial. If the planner cannot perform this survey, an outside firm
should be hired. The primary objective of a market survey is a realistic projection of revenues.
The major steps include:
Step Four: Plan Business Organization and Operations

At this point, the organization and operations of the business should be planned in sufficient
depth to determine the technical feasibility and costs involved in start-up, fixed investment, and
operations. Extensive effort is necessary to develop detailed plans for:

 Equipment
 Merchandising methods
 Facility location and design (or layout)
 Availability and cost of personnel
 Supply availability (e.g., vendors, pricing schedules. exclusive or franchised products)
 Overhead (e.g., utilities, taxes, insurance)
Step Five: Prepare an Opening Day Balance Sheet
The Opening Day Balance Sheet should reflect the practice's assets
and liabilities as accurately as possible at the time the practice begins,
before the practice generates income. Prepare a list of assets required for
practice operations. The list should include item, source, cost, and available
financing methods.

Step Six: Review and Analyze All Data

This review is crucial. The planner should determine if any data or
analysis performed should change any of the preceding analyses.
Basically, taking this step means "Step back and reflect one more
time."

 Reexamine the Projected Income Statement and compare with the list of desired assets and the
Opening Day Balance Sheet. Given all expenses and liabilities, does the Income Statement
reflect realistic expectations?

Step Seven: Make "Go/No Go" Decision

All the preceding steps have been aimed at providing data and
analysis for the "go/no go" decision. If the analysis indicates that the
business should yield at least the desired minimum income and has
growth potential, a "go" decision is appropriate. Anything less
mandates a "no go" decision. Additional considerations include:
In a software development company, development team keeps getting change requests
from the client and other stakeholders. Company is planning to establish a change
management process. Describe the change management process.
Answer:-
Introduction
Change management refers to a formal process for making planned and unplanned changes to the
Tuskegee production IT environment. ... Planning: Plan the change, including the implementation design,
scheduling, communication plan, test plan and roll-back plan.

The concept of change management dates back to the early to mid-1900s. Kurt Lewin’s 3-step
model for change was developed in the 1940s; Everett Rogers’ book Diffusion of Innovations
was published in 1962, and Bridges’ Transition Model was developed in 1979. However, it
wasn’t until the 1990s that change management became well known in the business environment,
and formal organizational processes became available in the 2000s.
Application:-

Below you will find 6 essential steps to ensure your change initiative is successful.

1. Identify What Will Be Improved

Since most change occurs to improve a process, a product, or an outcome, it is critical to identify
the focus and to clarify goals. This also involves identifying the resources and individuals that
will facilitate the process and lead the endeavor. Most change systems acknowledge that
knowing what to improve creates a solid foundation for clarity, ease, and successful
implementation.
2. Present a Solid Business Case to Stakeholders

There are several layers of stakeholders that include upper management who both direct and
finance the endeavor, champions of the process, and those who are directly charged with
instituting the new normal. All have different expectations and experiences and there must be a
high level of "buy-in" from across the spectrum. The process of onboarding the different
constituents varies with each change framework, but all provide plans that call for the time,
patience, and communication.

3 .Plan for the Change

This is the "roadmap" that identifies the beginning, the route to be taken, and the destination.
You will also integrate resources to be leveraged, the scope or objective, and costs into the plan.
A critical element of planning is providing a multi-step process rather than sudden, unplanned
"sweeping" changes. This involves outlining the project with clear steps with measurable targets,
incentives, measurements, and analysis. For example, a well-planed and controlled change
management process for IT services will dramatically reduce the impact of IT infrastructure
changes on the business. There is also a universal caution to practice patience throughout this
process and avoid shortcuts.

4. Provide Resources and Use Data for Evaluation

As part of the planning process, resource identification and funding are crucial elements. These
can include infrastructure, equipment, and software systems. Also consider the tools needed for
re-education, retraining, and rethinking priorities and practices. Many models identify data
gathering and analysis as an underutilized element. The clarity of clear reporting on progress
allows for better communication, proper and timely distribution of incentives, and measuring
successes and milestones.

5. Communication

This is the "golden thread" that runs through the entire practice of change management.
Identifying, planning, onboarding, and executing a good change management plan is dependent
on good communication. There are psychological and sociological realities inherent in group
cultures. Those already involved have established skill sets, knowledge, and experiences. But
they also have pecking orders, territory, and corporate customs that need to be addressed.
Providing clear and open lines of communication throughout the process is a critical element in
all change modalities. The methods advocate transparency and two-way communication
structures that provide avenues to vent frustrations, applaud what is working, and seamlessly
change what doesn't work.

6. Monitor and Manage Resistance, Dependencies, and Budgeting Risks

Resistance is a very normal part of change management, but it can threaten the success of a
project. Most resistance occurs due to a fear of the unknown. It also occurs because there is a fair
amount of risk associated with change – the risk of impacting dependencies, return on
investment risks, and risks associated with allocating budget to something new. Anticipating and
preparing for resistance by arming leadership with tools to manage it will aid in a smooth change
lifecycle.
3. Describe following IT project risks.
a. Schedule and Budget risk
b. Technical risk
Answer:-
Introduction:-
Every day of our lives, we face all kinds of risks… Have you ever thought about what might potentially
happen as you cross the street against a red light? For example, you can be involved in an accident –
it’s a result of the risk you took in this case. Let’s talk today about IT project risk management and
assesing IT risk.
3a)
1. Schedule risk
Schedule risk is the likelihood of failing to meet schedule plans and the effect of that failure. Schedule
risk is depend on who much period do you take to complete the project. Schedule is most of the IT
Project. The project should be completed in given deadline. As a program progresses through the
acquisition cycle, more information becomes available. Schedules developed in the later phases of a
program are based on more information and analyses, but they still lack complete certainty. Uncertainty
introduces the element of risk into the planning process.
When creating a schedule, or when determining overall program risk, the Program Manager (PM) must
assess the risk associated with the schedule. One technique for assessing this schedule risk involves
estimate contributions for each activity’s duration and aggregating these distributions using a Monte
Carlo simulation or other analytical tools. The resulting program-level schedule is then analyzed to
determine the actual schedule risk and to identify the schedule risk drivers.
This technique uses a range of times that it will take to complete each activity instead of single-point
estimates. This approach results in a more realistic estimate of schedule risk because it accounts for
much of the uncertainty inherent in the use of single-point estimates. Their use invariably leads to
underestimating the time required to complete the program and, therefore, schedule overruns,
primarily because the point estimates do not adequately address the uncertainty inherent in the
individual activities.
Budget risk
Budgeting is an important part of project planning and execution. In order to budget accurately, a
project team needs to account for potential budgeting risks and accommodate them. Budgeting risks are
the potential for certain items to deviate from the originally predicted cost. There are two subcategories
of Budget risk:-
 Operational risk
These refer to potential issues regarding the daily business of the company.

 Marketing risks:

These relate to market variables. These are still considered budgeting risks because they
could ultimately affect project cost.

For example, damage to deliverables is an operational risk, and it's also a budgeting risk because
the business needs additional funds to solve the problem.
3 b)
Every project uses technology in some way, and if you’ve ever had a computer crash, then you’ll
know they present risk. Technology risk means your projects may have to be altered or amended
due to problems or changes in the hardware and software you use.

There are many ways that technology is able to affect your project. Each one will be different,
with tech becoming pervasive in your communication, training, delivery, and outcomes in
varying mixes depending on the project. Although by no means exhaustive, here are some of the
most common risks that technology can pose to your projects.
Data security
Keeping the information on a project secure is paramount. This could be due to legal obligations
around storing personal data, information covered by legal agreements like non-disclosures, or
proprietary information owned by the business itself.
Risks around data security come in the form:
 Hacking and breaches
 Failed storage
 Lost or compromised hardware
 Corrupted files
Each scenario, and more, need careful planning to try and negate. Ensuring there are backups and
fail-safes in your systems as well as tracking of hardware and file transfers, are all useful
measures. It’s important to be aware of the legal requirements regarding data security that the
projects in your PMO need to adhere to, also.
Legacy systems
When software or hardware works well, it can be tough to let it go. Microsoft stopped supporting
the XP operating system in 2014, and millions of companies were still relying on this
technological warhorse. Most major software and hardware companies will give fair warning
that they will discontinue support. However, it’s possible for a company to go bust without much
warning, leaving your technology open to hacks and your team on their own to sort out bugs. Be
sure to do due diligence on suppliers of tech. Have your systems set up to auto-update and sign
up to the newsletters for your tech vendors so you know if there will be changes in support and
documentation.