Identify Any Challenges with Implementing the Capstone Project You Have Experienced
One of the challenges I experienced with implementing our capstone project was Scope creep. This is when the scope of the project expands beyond the original content. I addressed this challenge by having weekly meetings with my team to discuss the project’s progress and ensure everyone was on track(Heagney, 2016). Another challenge I faced was a lack of resources. I addressed this by being creative with my resources and reaching out to my stakeholders for help.
Discuss Potential Risks and Challenges That May Threaten Your Capstone Project.
Three primary sources of change could potentially impact my capstone project: schedule, cost, and scope. The schedule for my project is very tight, and any delay could cause significant problems. I need to ensure that all my team members are aware of the schedule and working diligently to meet deadlines(Heagney, 2016). The cost of my project is another potential risk. I need to make sure that I can get the necessary funding in place in order to complete the project. The scope of my project is also a potential risk. I need to ensure that I do not try to take on too much and am realistic about what I can achieve.
Explain How Real or Potential Risks and Challenges Fit into the “Triple Constraints Triangle”?
Risks and challenges can fit into the “triple constraints triangle” in several ways. First, they can impact the schedule of the project. For example, if a team member gets sick and cannot work, this could delay the project. Second, risks and challenges can impact the project’s cost(Heagney, 2016). For example, if a key piece of equipment fails and needs to be replaced, this could increase the project’s cost. Finally, risks and challenges can impact the scope of the project. For example, if a risk materializes and causes significant damage, this could reduce the project’s scope.
Describe A Contingency Plan Including Specific Strategies to Manage the Real or Potential Risks and Challenges to Your Project.
A contingency plan is a plan that is put in place to deal with potential problems that may arise during a project. One strategy is to have a backup plan for key team members in case they cannot work(Heagney, 2016). Another strategy is to have a contingency fund that can be used to cover unexpected costs. Finally, it is important to be flexible and willing to adjust the project scope if necessary.
Based On Your Assessment of Risks and Challenges, what, If Any, Changes Are Needed to Your Strategic Plan or Timeline?
Based on my assessment of risks and challenges, I may need to change my strategic plan or timeline. I may need to add some additional buffer time into the schedule to account for potential delays(Heagney, 2016). I may also need to increase the size of my contingency fund to cover unexpected costs. Finally, I may need to be flexible and be willing to adjust the project scope if necessary.