Part 1: - What is Risk

Risk management exists wherever
there is any uncertainty: Eg: information that is ambiguous, events that are
not clear. It applies to things we know that can happen and may affect our
business.

Software risk is a measure of the
likelihood and loss of an unsatisfactory outcome affecting the software project,
process, or product. Hence we can classify Software risk as:

- Software project risk

- Software process risk

- Software product risk

- Software project risk

• Project risk is primarily a management
  responsibility
• Project risk includes:- resources
  constraints, external interfaces, supplier relationships, or contract restrictions
• Funding is the most significant
  project risk reported in risk assessments.

- Software process risk

• Includes both management and
  technical work procedures.
• Planning, staffing, tracking,quality
  assurance and configuration management
• Requirement analysis, design,
  code, and test.

- Software product risk

• Intermediate and final work product
  characteristics
• Product risk is primarily a technical
  responsibility
• Product risk
  is difficult to manage.

Software Risk

----->Process ( Mgmt + Tech)

Management
---> Project  & 
Technical-->Product