Risk management in Software Engineering Daripally Pradeep Reddy
Introduction
What is Risk? Risk can be defined as possibility of loss, damage or disadvantage Risk can brings about negative consequences Risk is to be identified in earlier stage No project is free of Risk
What is Risk Management Software engineering practice which provides tools, methods and some process to effectively manage risk Provides good environment to continuously asses all possible risks
Risk Management promises following Disasters in project are avoided Reacting to the problem in early stages there by reducing the need for rework Better understanding of risks and their effect on project. Consistent and systematic handling of risks
Consequences of not doing Risk management Management does not have any idea of future consequences Decisions will be made without complete information More resources will be spent correcting problem
Risk Management process model Identify Analyze Track Communication Plan Control
Risk Management process Identify: potential risks are identified Analyze: Evaluating impact, probability, and prioritize risks Plan: Translating risk information into actions and implementing actions Track: Monitoring risk indicators Control: Correcting deviations in risk mitigation plans Communication: Provides information on risk activities, current risks and emerging risks
Risk Manager Need Risk manager if the project is large enough Responsibility is to capture and formalize risk management activities and results
Obstacles Does not guarantee success New phenomenon and many does not know possibility Difficult to understand as it is abstract phenomenon
Principles of Risk management Forward looking view Open communication Continuous process Team work Integrated management Global perspective
Conclusion Risk is essential for progress and failure is key part of learning Though Risk Management does not guarantee success it improves decision making Risk management avoids surprises and improves chances of success
Questions ?
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