Examination of Critical Success Factors Essay

Examination of Critical Success Factors Essay

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Examination of Critical Success Factors Essay

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A researcher who wishes to compare two populations often is interested either in estimating the difference between two population means or in testing hypotheses about this difference. In order to accomplish either task, information (in the form of a sample) must be obtained from each population.

The sample information then is used to make inferences about the difference between these two populations means. The type of t test to use when testing hypotheses concerning two population means can depend on several factors. One of these is the method of obtaining samples. For example:

Imagine that a high school developed a new course in reading comprehension for its freshmen. The high school wants to know whether the new course is more effective than the old one. That is, will the mean reading level for freshmen who are given the course be higher than the mean reading level for freshmen who are not given the course?

One way to study the question would be to select a group of freshmen, give them the new course, and then compare their scores on a reading examination with the scores of a group of freshmen from the same institution who did not take the new course. The two samples of scores in this case are called independent.

Another method would be to select one group of students and compare their scores on a reading test before they take the new course with their scores on the reading test after they take the new course.  In this case, the two samples of scores would be called dependent, or paired.

Two samples are said to be independent if the data values obtained from one are unrelated to the values of the other. In the example above, the high school could examine the mean reading level of two independent populations: one that took the new course and one that did not take the new course.

In contrast, the samples are said to be dependent if each data value from one sample is paired in a natural way with a data value from the other sample. In the example above, the same population of students took a reading test before the new course and then took a reading test after the new course. Each student would have two scores. These two scores are paired in a natural way each score came from the same student.

Now, whether we are dealing with dependent samples or independent samples, we compare the means of two populations by focusing on their difference (i.e., Mean1–Mean2). In this course, you will learn how to make inferences about the difference between two population means when the two samples are independent, yielding what was mentioned earlier as an independent samples t test.

For this Discussion, you will expand the new dataset that you created in Week 7.

To Prepare:

Based on the US Demographic Information_PA_PS dataset from Week 9, compare income between the red states and the blue states.

Use your PSPP software, or statistical software of your choice, to help you conduct your independent samples t test of your data for this Discussion.

For students using the PSPP statistical software program, review the Learning Resources document Working with Datasets Job Aid for information about how to complete the tasks identified in the To Prepare and Post activities.

By Day 4 (Post First)

Post the results of your independent samples t test to compare income from the red states to income from the blue states. Next, using the p value associated with the t test (i.e., Sig. Two-tailed), determine whether there is a statistically significant difference in income between blue states and red states. Explain how big this difference is and what this means.

TOPIC

In your weekly required readings, you read about the critical success factors for the risk identification step. The practices encapsulated in these factors help you in ensuring a high likelihood of identifying as many risks as possible on your project. Out of the ten critical success factors defined in the success framework select the two that you feel are the most important.

List the two factors you have selected and describe these using the materials you have read and your professional experiences. Connect this to the assigned reading from Week 5. For this discussion post, you are required to review two additional external resources and cite them in APA format in your post.

You will not see other’s postings until you post your first one, and importantly, you need to reply to at least two of your peer’s postings.  This medium is instrumental in gaining an understanding through peer sharing.

ANSWER -1-

Critical Success Factors

For every project to be successful, risk management is a very crucial tool that ensures there are no potential risks. Risk Management is the process where all the potential risks are identified in advance, analyzed, and taking every precaution steps in ensuring that the risks are curbed or reduced.

The best way of effective risk management is doing the risk identification step. This will help in identifying all the potential risks that the project can face. Various critical success factors are involved in the risk identification step (Holotiuk, 2017).

These critical success factors are the number of areas where the organization should focus on to ensure that there is a thriving and competitive performance in the organization. The essential factors of success are, therefore, the elements that are necessary for the project to achieve the mission.

The two critical factors that will ensure that there is a practical risk identification step is the organizational structuring and design and the people within the organization (Hasanali, 2002). Organization structuring and design include the process of organizational leadership, the management of the organization, and the planning in the organization.

Good leadership among the management in the organization will ensure that the project being developed achieve its objective. The planning process of the organization includes the process where the organization allocates the necessary resources such as funds, people, and other factors that will be used for the risk identification process. When there is proper organizational structuring and design, it will ensure that there is a strategic focus towards the accomplishment of the mission of the project.

People are one of the critical factors for a successful project. These are the individual who ishired to run and manage the project, and they have the skills and knowledge about the project. Therefore, the people involved should be well motivated in ensuring the project became successful, and they should be well kept with the new project development strategies and frequent communication about the project.

ANSWER -2-

Risk management is defined as “the systematic process of identifying, analyzing, and responding to project risks” (PMI, 2008, p. 127). Risks and uncertainties are at times extremely hard to detect or identify during the course of a project and may inflict non-repairable damage to the end products.

There is absolutely zero doubt that events for instance natural catastrophes can be anticipated with ease, but the impacts are pretty arduous to estimate due to knock-on effects (Ogaard, 2009). Several reasons serve as consistent barriers in possibility to identify the risks such as the risks being dependent on response, time and progress or instinctively unknown.

Seong Dae Kim, in his paper, “Characterizing Unknown Unknowns,” writes that few “unidentified” occasions or risks are not recognized due to zero knowledge or information (Stoelsnesa, 2007). The most expensive natural catastrophe, Hurricane Katrina hit the United States in 2005 (Knabb, Rhome, & Brown, 2005) and it occurred due to unidentified risks.

Two prime success factors for the risk identification include good communication and receptive risk assessment team. The organizations often fail to identify the potential risks due to poor communication. One may way, communication has an overlapping impact on risk management is how proper the risk is penned down.

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In his article on risk management, Cindy Margules gives an example of an amateur written risk, as “Bad weather delays the plane.” Then the author gives an example of a well-written risk, “If bad weather delays the plane, then it will impact the arrival time by one day and we may lose one day of scheduled tours on our vacation.”

During risk assessment, highly skilled professionals could really make a difference in terms of identifying the risk. However, if the team is non-receptive, risks could get detrimental for the project under progress and this could be the outcome of being ignorant the finest methodologies.

During week 6 you will be asked to provide feedback and ratings for the Week 5 Discussion posts of two of your peers.  Fill out the provided rubric and leave a comment for each peer for Discussion 5.  In this discussion forum, you are required to copy and paste the feedback and comment you have provided the peer.

Examination of Critical Success Factors Essay

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