You have been assigned as the manager on a project to develop a new application system for your business partner. You were given two weeks to develop a project plan and high level cost...

The project given involves developing a project plan and high level cost estimates. Being a new
technology for the company, it has not been in any of previous internal projects from where
estimates could be developed. The system takes data feeds from three upstream applications, and
sends information back to two of them. There are many risks associated with this situation as a
manager who had never worked in such scenario. The top three risks are described as follows:
1. Use of wrong inputs leading to the incorrect cost estimates and projections. This would be due
to in-experience of technology and such projects. This can certainly create ambiguity in the
inputs that would be used for the project.
2. Use of wrong checkpoints due to no prior experience of this new technology and projects.
Wrong checkpoints can lead to incorrect outputs as the measurement techniques might be faulty.
3. Use of wrong benchmarking techniques could be another major risk in such type of situations.
Every project when commenced needs to be benchmarked to measure its performance and
maintain a certain success rate. As the manager and employees have no or little...