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RiskManagement SE PDF

This document discusses software risk management. It defines risk management as a set of actions to plan for uncertain occurrences that could affect a project's schedule or software quality. The risk management process involves identifying potential risks, analyzing their likelihood and impact, planning risk mitigation, and continuously monitoring risks. Reactive risk management deals with risks after they occur, while proactive risk management identifies risks in advance to establish contingency plans. Software risks always involve uncertainty and potential loss. Categories of risks include project risks, product risks, technical risks, and business risks. The document outlines seven principles of effective risk management and presents a risk management paradigm.

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57 views13 pages

RiskManagement SE PDF

This document discusses software risk management. It defines risk management as a set of actions to plan for uncertain occurrences that could affect a project's schedule or software quality. The risk management process involves identifying potential risks, analyzing their likelihood and impact, planning risk mitigation, and continuously monitoring risks. Reactive risk management deals with risks after they occur, while proactive risk management identifies risks in advance to establish contingency plans. Software risks always involve uncertainty and potential loss. Categories of risks include project risks, product risks, technical risks, and business risks. The document outlines seven principles of effective risk management and presents a risk management paradigm.

Uploaded by

Aayush Jain
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
You are on page 1/ 13

Software Engineering

- Sahil Kohli, Trainer


AIT, Chandigarh University

1
Risk Management
• Risk management is one of the main jobs of Project Manager.
• Risk management is a set of actions that helps the project manager
plan an approach to deal with uncertain occurrences.
• It involves anticipating risks that might affect the project schedule or
the quality of the software being developed and taking actions to
avoid these risks.
• Risk management is an emerging area that aims to address the
problem of identifying and managing the risks associated with a
software project.

2
Risk Management
• Risk in a project is the possibility that the defined goals are not met. It
is the inability to achieve objectives within defined cost, schedule,
and technical constraints.
• Most projects have risks, especially the big projects.
• Risk management is the area that tries to ensure that the impact of
risks is minimal on –
• Cost
• Quality
• Schedule

3
Risk Management
• What can go wrong?
• What is the likelihood?
• What will the damage be?
• What can we do about it?

4
Risk Management Process
• What are the steps in Risk Management Process?, or
• What are the major activities/tasks of a project manager in risk
management?
1) Risk Identification –possible risks are identified
2) Risk Analysis –risks are analyzed to determine the likelihood and
the damage/consequences. Risks are ranked by probability &
impact.
3) Risk Planning –A plan is developed to manage the risks with high
probability & high impact.
4) Risk Monitoring –Risk is constantly assessed & plans for risk
mitigation are revised.
5
Risk Strategies
Reactive vs. Proactive

6
Reactive Risk Management
• Risk management ==> Crisis management (“fire-fighting mode”)
• Project team reacts to risks when they occur
• Software team does nothing about risks until something goes wrong,
then the team flies into action in an attempt to correct the problem
rapidly(this is called “fire-fighting mode”). When this fails, “crisis
management” takes over and the project is in real jeopardy.

7
Proactive Risk Management
• A considerably more intelligent strategy for risk management
• Identify potential risks in advance
• Assess probability and impact
• Prioritize the risks by importance
• Establish explicit risk management plan
• But “Risk is unavoidable”( not all risks can be avoided), so
contingency plan is developed

8
Software Risk
Software risk always involves two characteristics:
1) Uncertainty –the risk may or may not happen; there are no 100%
probable risks.
2) Loss –If the risk becomes a reality, unwanted consequences or
losses will occur.

9
Categories of Risks
• Project Risks
• Product Risks
• Technical Risks
• Business Risks
• Known Risks
• Predictable Risks
• Unpredictable Risks
Note that these risk types may overlap.

10
Seven Principles Of Risk Management
• Maintain a global perspective—View software risks within the context of system
and the business problem
• Take a forward-looking view—Think about the risks that may arise in the future;
Establish contingency plans so that future events are manageable
• Encourage open communication—If someone states a potential risk, don’t
discount it.
• Integrate—A consideration of risk must be integrated into the software process.
• Emphasize a continuous process—The team must be vigilant throughout the
software process, modifying identified risks as more information is known and
adding new ones as better insight is achieved.
• Develop a shared product vision—If all stakeholders share the same vision of the
software, it likely that better risk identification and assessment will occur.
• Encourage teamwork—The talents, skills and knowledge of all stakeholder
should be pooled when risk management activities are conducted.
11
Risk Management Paradigm

12
THANK YOU

Sahil Kohli, Trainer


AIT, Chandigarh University
sahil.e8424@cumail.in

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