This is supposed to be Project management question, Text book is Information Tec

Question

This is supposed to be Project management question, Text book is Information Technology Project Management by Kathy Schwalbe Chapter 3 and 4

You've been hired as the project portfolio manager for a new startup of 100 people. The company will take on-line orders only. The company's product is data analytics of the financial market. Your task is to itemize and prioritize the first set of IT projects. Give two examples of projects in each of the three categories of Problems, Opportunities, and Directives. * * Answer:

Explanation / Answer

In the case of Project Management, there are 3 categories need to be considered for driving business decisions. They are Problems, Opportunities, and Directives.

Problems - It is the main objective of the project. Each project is intended to solve some 'Problem'.

Opportunities - It has a high positive impact on the problem.

Directives - They are orders or strong requests issued by decisionmaker of the company to follow.

In order to implement a data analytics project, there are certain modules of projects need to be implemented. For instance, you cannot have a machine learning learner without data preprocessed.

Project 1: Data Preprocessor
Problems:
It is a data analytics product. You cannot build any data analytics modules or any machine learning learner without the main component 'data' itself. However, real-time data cannot be used directly for analysis for many reasons like noise, different forms, inconsistency, missing values etc. Therefore, the solution to the problem is data-preprocessing which include data cleaning, dimensionality selection or reduction and so on.

Opportunities:
It provides an opportunity to drive multiple components of the project. It is used in conjunction with the next project which provides greater connectivity of modules and understandability.

Directives:
The project priorities and instructions needed to be followed defined here. These orders and instructions from the top level of management. The directives would include:
-> Collection of data
-> Planning
-> SCRUM meeting every day
-> Protecting data confidentiality and anonymity.

Project 2: Data Pattern Recognizer
Problems:
The main objective is to recognize patterns of data which drive the business decisions from the preprocessed data. It uses multiple dat mining and analytics algorithms like Decision Tree, Naive Bayes, Clustering etc.

Opportunities:
This would expand the business market. The accurate calculations and patterns would help to make a business decision without hustle.

Directives:
The project priorities and instructions needed to be followed defined here. These orders and instructions from a top level of management. The directives would include:
-> Creating proper training and testing datasets for data analysis.
-> Building efficient data models.
-> Making sure the models are performing accurately.

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