Title: About SoftwareRisk Management- Software RisksDescription: Didyou know that there are some risks while making software that developer had tomanage otherwise it cause to failure of software.
Here we are providing you theinformation about the software risk management. Software RiskManagement- Software Risks There are manyrisks involved in creating high quality software on time and within budget. Inorder to take these risks, they must be compensated for by a perceived reward.The greater the risk, the greater the reward must be to make it worthwhile totake the chance.
In order to manage a software project, we have to learn toidentify, analyze, and control these risks. In this article we discuss thebasic concepts, processes, and techniques of software risk management. SomeTypes of Risks and their Management So, what arerisks? Risks are simply potential problems. The risk will not start until wehave not made any commitment, until we step in the street. Risk ends when the problemoccurs or the possibility of risk is eliminated. A software project may havevarious types of risks in it:1. Schedule risk: Schedule riskaffect on project due to various reasons.
· Resourcesare not tracked properly.· Wrongtime estimation· Unexpectedproject scope2. Budget risk: Budget is alsoa important part of project.· WrongBudget estimation· Costoverruns3. Technical risks: It spread out due to a failure of functionality and performance.· Continouschanging requirements· Noadvanced technology available· Productis complex to implement4. Programmaticrisks:Programmatic risks are those risks which are the external risks beyond theoperational limits.
· Runningout of the fund· Marketdevelopment · Governmentrule changes Is it too big arisk? If the risk in process is too bigto be willing to accept, we can also used to avoid the risk by changing ourproject strategies to choose a less risky alternative or we decided not to dothe project. For example, if our projects has tight scheduled and it alsoincludes state of the art technology; we may decide to wait until a futureproject to implement our newly purchased CASE tools.Things to remember about avoidingrisks include:· Byignoring the risks it also mean avoiding the opportunities· Notall risks can be avoided at all· Ignoringa risk in one part of the project may create risks in other parts of theproject. Can we transferthe risk? If it is not ourrisk or if it is feasible economically to pay someone else to assume all orpart of the risk, we can plan to transfer the risk to another organization. Forexample we can contract with a disaster recovery firm to provide backupcomputer facilities that will allow continuation of the project in case a fireor other disaster destroys the project’s work environment. How to manage a risk?Each risk involves two fundamental concerns:· The probability of occurrence· The impact that results if the riskoccursConclusions Risk managementis an ongoing process that is implemented as part of the initial projectplanning activities and utilized throughout all of the phases of the softwaredevelopment lifecycle.
Software risk management requires a fearless and free environmentwhere risks can be identified and discussed openly. Based on a positive,proactive approach, risk management can greatly reduce or even eliminate theneed for crisis management within our software projects.