Chapter 19, Problem 3MBD

Explanation of Solution

Project management:

• The project management is a skill to make smart trade-offs between three interdependent variables which are time, cost and scope.
• Proper project management is the most required property in any type of systems development effort.
• To meet the project requirement, dealing with tools, skills, knowledge, and techniques related to project activities is a major role of the project management.
• Measuring, managing, and reviewing each step of the system development life cycle will ensure the completion of project within the estimated budget and in a specified scope.

Reasons behind the failure of a project:

• Poor project planning
  • Improper project plan extends the set forth deadline and may lead to delay.
• Budget overrun
  • Project may not complete within stipulated budget and excess cost may occur.
  •  Excess cost may affect market strategy and pricing structure.
• Misunderstood customer requirement
  • The business requirements are either misunderstood or not gathered properly then the product will fail to satisfy the need...