Title: various reasons. · Resources are not tracked

Title: About Software
Risk Management- Software Risks

Description: Did
you know that there are some risks while making software that developer had to
manage otherwise it cause to failure of software. Here we are providing you the
information about the software risk management.

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Software Risk
Management- Software Risks

 

There are many
risks involved in creating high quality software on time and within budget. In
order 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 to
take the chance. In order to manage a software project, we have to learn to
identify, analyze, and control these risks. In this article we discuss the
basic concepts, processes, and techniques of software risk management.

 

Some
Types of Risks and their Management

 

So, what are
risks? Risks are simply potential problems. The risk will not start until we
have not made any commitment, until we step in the street. Risk ends when the problem
occurs or the possibility of risk is eliminated. A software project may have
various types of risks in it:

1.     
Schedule risk: Schedule risk
affect on project due to various reasons.

·        
Resources
are not tracked properly.

·        
Wrong
time estimation

·        
Unexpected
project scope

2.     
Budget risk: Budget is also
a important part of project.

·        
Wrong
Budget estimation

·        
Cost
overruns

3.     
Technical risks: It  spread 
out due to a failure of functionality and performance.

·        
Continous
changing requirements

·        
No
advanced technology available

·        
Product
is complex to implement

4.     
Programmatic
risks:
Programmatic risks are those risks which are the external risks beyond the
operational limits.

·        
Running
out of the fund

·        
Market
development

·        
Government
rule changes

 

 

Is it too big a
risk?

If the risk in process is too big
to be willing to accept, we can also used to avoid the risk by changing our
project strategies to choose a less risky alternative or we decided not to do
the project. For example, if our projects has tight scheduled and it also
includes state of the art technology; we may decide to wait until a future
project to implement our newly purchased CASE tools.

Things to remember about avoiding
risks include:

·        
By
ignoring the risks it also mean avoiding the opportunities

·        
Not
all risks can be avoided at all

·        
Ignoring
a risk in one part of the project may create risks in other parts of the
project.

 

Can we transfer
the risk?

If it is not our
risk or if it is feasible economically to pay someone else to assume all or
part of the risk, we can plan to transfer the risk to another organization. For
example we can contract with a disaster recovery firm to provide backup
computer facilities that will allow continuation of the project in case a fire
or 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 risk
occurs

Conclusions

 

Risk management
is an ongoing process that is implemented as part of the initial project
planning activities and utilized throughout all of the phases of the software
development lifecycle. Software risk management requires a fearless and free environment
where risks can be identified and discussed openly. Based on a positive,
proactive approach, risk management can greatly reduce or even eliminate the
need for crisis management within our software projects.