Risk Management in Software Engineering

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Software Martix Advantage Risk Management Analysis

Risk Management in Software Engineering

Risk Management is the system of identifying addressing and eliminating these problems before they can damage the project.

risk management in software engineering

A software project can be concerned with a large variety of risks. In order to be adept to systematically identify the significant risks which might affect a software project, it is essential to classify risks into different classes. The project manager can then check which risks from each class are relevant to the project.

There are three main classifications of risks which can affect a software project:

  • Project risks
  • Technical risks
  • Business risks

Project risks: : Project risks concern differ forms of budgetary, schedule, personnel, resource, and customer-related problems. A vital project risk is schedule slippage. Since the software is intangible, it is very tough to monitor and control a software project. It is very tough to control something which cannot be identified. For any manufacturing program, such as the manufacturing of cars, the plan executive can recognize the product taking shape.

Technical risks: : Technical risks concern potential method, implementation, interfacing, testing, and maintenance issue. It also consists of an ambiguous specification, incomplete specification, changing specification, technical uncertainty, and technical obsolescence. Most technical risks appear due to the development team's insufficient knowledge about the project.

Business risks: This type of risks contain risks of building an excellent product that no one need, losing budgetary or personnel commitments, etc.

How to Manage Risk?

Risk Management in Software Engineering primarily involves following activities:

Plan risk management: It is the procedure of defining how to perform risk management activities for a project.

Risk Identification: It is the procedure of determining which risk may affect the project most. This process involves documentation of existing risks.

Identify and Classify Risks

Most software engineering projects are inherently risky because of the variety potential problems that might arise. Experience from other software engineering projects can help managers classify risk. The importance here is not the elegance or range of classification, but rather to precisely identify and describe all of the real threats to project success. A simple but effective classification scheme is to arrange risks according to the areas of impact.


Software Martix Advantage Risk Management Analysis

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