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ECE362 Principles of Design

ECE362 Principles of Design. Risks & Contingencies. Product Development. Product Idea. Product Specifications. Technical Model. Stage 1 – Product Idea, Product Specifications, & Technical Model. Stage 2 – Intellectual Property, Mkt Analysis & Business Models. Intellectual Property.

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ECE362 Principles of Design

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  1. ECE362Principles of Design Risks & Contingencies Page 1

  2. Product Development Product Idea Product Specifications Technical Model Stage 1 – Product Idea, Product Specifications, & Technical Model Stage 2 – Intellectual Property, Mkt Analysis & Business Models Intellectual Property Market Analysis Business Model Planning & Scheduling Test Plan Project Management Stage 3 – Scheduling & Planning, Test Plan, & Project Management Stage 4 – Budget, Social Impact, Persnel, Quality, & Completion Budget & Resources Social Impact Personnel Qualifications Development Grant = $$$ Quality Page 2

  3. Risks & Contingencies • No major project is ever installed on time, within budget, or with the same staff that started it. Yours will not be the first. • Projects progress quickly until they become 90% complete, then they remain at 90% complete for ever. • One advantage of fuzzy project objectives is that they let you avoid the embarrassment of estimating the corresponding costs. • When things are going well, something will go wrong. Page 3

  4. Risks & Contingencies • When things just cannot get any worse, they will. • When things appear to be going better, you have overlooked something. • If project content is allowed to change freely, the rate of change will exceed the rate of progress. • No system is ever completely debugged. Attempts to debug a system will inevitably introduce new bugs that are even harder to find. Page 4

  5. Risks & Contingencies • A carelessly planned project will take three times longer to complete than expected; a carefully planned project will take only twice as long. • Project teams detest progress reporting because it vividly manifests their lack of progress. Page 5

  6. Risks & Contingencies Page 6

  7. Risks & Contingencies A complete and accurate assessment of a project’s risk profile is essential if decision makers are to make informed decisions about the project. It is difficult to define and, in most cases, impossible to measure with any precision. Outcome may be better or worse than originally expected Page 7

  8. Risks & Contingencies • Principal sources of risk or uncertainty include • random variations in component and sub-system performance, • inaccurate or inadequate data, and • inability to forecast satisfactorily due to lack of prior experience. Page 8

  9. Risks & Contingencies Page 9

  10. Risks & Contingencies Risk = Probability of event x Impact of event Page 10

  11. Risks & Contingencies Uncertainty in scheduling Delivery time, unavailability of instruments, exams Technology uncertainty Device specs incomplete, inexperienced team members, Uncertainty in cost Unexpected computer time, higher quality components required Page 11

  12. Risks & Contingencies . Page 12

  13. Risks & Contingencies Identify Risks Analyze Risks – Gather information to reduce uncertainty Prioritize Risks Page 13

  14. Risks & Contingencies • Risk should be associated with areas where the scope is not well defined or is subject to change. • An unproven or immature technical approach, or known technical difficulty or complexity will increase project risk. • Ambitious goals always result in risk. Unfamiliarity with the process, or inexperienced personnel, constitute project risks, if for no other reason than being unknowns. Page 14

  15. Risks & Contingencies Two major risks for this project the team is currently facing are as follows: 1.Analog Devices’ chip does not function properly. 2.Risk of project damage and/or loss of life arising from the use of high voltage or current. For each of these risks, the team has developed contingency plans: 1.If the Analog Devices’ chip fails to operate properly, contacts will be made to Analog Devices and other outside resources. 2.In the event of project damage due to high voltage or current, back up parts can be used, but time may be an issue. Page 15

  16. Risks & Contingencies It is much better to reduce the risks at the start up phase of the project than to allow a contingency on a basis that things are bound to go wrong, but we don't know what! Page 16

  17. Assignments PERSONAL ASSIGNMENT: CPR Executive Summary completion by 12 noon EST, Friday, February 13. TEAM ASSIGNMENT: 3rd draft of Proposal due on Friday, February 13. Page 17

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