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Risk Management in Software Engineering

Risk management is an important part of software engineering and project management. It involves identifying potential risks, analyzing their likelihood and impact, developing plans to mitigate risks, tracking risks over time, and controlling risks through corrective actions. Key principles of risk management include taking a global perspective to identify risks, maintaining a forward-looking view, open communication between teams, and integrating risk management into the overall project management process. Risks should be continuously identified, analyzed, planned for, tracked, and controlled throughout the project lifecycle.

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39 views15 pages

Risk Management in Software Engineering

Risk management is an important part of software engineering and project management. It involves identifying potential risks, analyzing their likelihood and impact, developing plans to mitigate risks, tracking risks over time, and controlling risks through corrective actions. Key principles of risk management include taking a global perspective to identify risks, maintaining a forward-looking view, open communication between teams, and integrating risk management into the overall project management process. Risks should be continuously identified, analyzed, planned for, tracked, and controlled throughout the project lifecycle.

Uploaded by

Ammar
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 PPTX, PDF, TXT or read online on Scribd
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RISK MANAGEMENT IN SOFTWARE ENGINEERING

• What is a risk?

• What is risk management ?

• What are the principles by which we can manage risks?

• How the Risk management is integrated in project management?

• How Risk management is implemented in small projects in a


company?

• How can we control the risks in a project?


What is Risk?

• Risk is an uncertainty.

• We don’t know whether a particular event will occur or no but if


it does has a negative impact on a project.

• An example would be that team is working on a project and….


Definitions of Risks

• Risk is the probability of suffering loss.

• Risk provides an opportunity to develop the project better.

• Risk exposure= Size (loss)* probability of (loss)

• There is a difference between a Problem and Risk

 Problem is some event which has already occurred but risk


is something that is unpredictable.
Risk management

• The Risks we encounter in a project should be resolved so that


we are able to deliver the desired project to the customer.

• The project should be managed in such a way that the risks


don’t affect the project in a big way.

• The art of managing of the risks effectively so that the WIN-WIN


situation and friendly relationship is established between the
team and the customer is called Risk Management.

• By using various paradigms, principles we can manage the risks.


The Principles of Risk Management

• 1.Global Perspective: In this we look at the larger system definitions, design


and implementation. We look at the opportunity and the impact the risk is
going to have .

• 2.Forward Looking View: Looking at the possible uncertainties that might


creep up. We also think for the possible solutions for those risks that might
occur in the future.

• 3.Open Communication: This is to enable the free flow of communication


between in the customers and the team members so that they have clarity
about the risks.

• 4.Integrated management: In this phase risk management is made an


integral part of project management.

• 5.Continous process :In this phase the risks are tracked continuously
throughout the risk management paradigm.
Risk management paradigm

• 1.Identify: Search for the risks before they


create a major problem

• 2.Analyze: understand the nature , kind of risk


and gather information about the risk.

• 3.Plan: convert them into actions and


implement them.

• 4.Track: we need to monitor the necessary


actions.

• 5.Control: Correct the deviation and make any


necessary amendments.

• 6.Communicate: Discuss about the emerging


risks and the current risks and the plans to be
undertaken.
Different types of Risks
Different types of Risks
Risk Management in Project management:

Basically project management deals with following :

• 1. Planning: Looking for the desired results, the strategies to be


applied.

• 2. Organizing: Getting all the things together so that the desired


results are obtained. By organizing the efficiency is increased
and lot of time is saved.

• 3. Directing: Communication takes place and exchange of ideas


is formatted in this phase.

• 4. Controlling: In the last phase feedback and evaluation is


done.
Risk Management In Small Project:

1.Preparing for Risks: Looking for the external and internal


Risks :
• Uncertain requirements
• Unknown technology
• Design risk
• Cost And Schedule uncertainty.

2.Identify and Analyze Risks: We need to identify the risks and


understand the nature of risks and prioritize the risks and try to
solve the risks.

3.Mitigate the risks: In this phase we have risk acceptance, risk


avoidance, risk control. We implement them in this phase so
that we can mitigate the risks.
Example (Risk in System Design)
Conclusion

• To manage the risks we need to establish a strong bond


between the customers and the team members.

• A strong base about risk management would help a great deal


in tackling the risks.

• Software metrics and tools can be developed to manage the


risks.

• Risk necessarily need not be negative and it can be viewed as


an opportunity to develop our projects in a better way.
Some More Links for Study Material:

1. https://www.castsoftware.com/research-labs/software-development-risk-management-
plan-with-examples

2.
https://www.test-institute.org/What_Is_Software_Risk_And_Software_Risk_Management.php

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