1. Risk management in Software Engineering
Daripally Pradeep Reddy

2. Introduction

3. 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

4. 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

5. 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

6. 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

7. Risk Management process model
Identify
Analyze
Track
Communication
Plan
Control

8. 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

9. Risk Manager Need Risk manager if the project is large enough
Responsibility is to capture and formalize risk management activities and results

10. Obstacles Does not guarantee success
New phenomenon and many does not know possibility
Difficult to understand as it is abstract phenomenon

11. Principles of Risk management
Forward looking view
Open communication
Continuous process
Team work
Integrated management
Global perspective

12. 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

13. Questions ?

14. Thank you