Part 1: - What is Risk

Primary tabs

Part 1: -
What is Risk

Risk management is not a new concept.
It is redefined for software industry. This science has always existed in
all industries.

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

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