1. Risk Management Pratyush Kumar CSC532

2. Software project Vague requirement User not sure of needs Huge number of people Large number of resources Time span Requirement changes

3. Core Risks [1] Ambitious time plan Ambiguity in requirement Requirement creep Team turnout Performance variance Project manager

4. Software risk category Project risk Process risk Product risk

5. Risk management process Risk identification Risk analysis Risk planning Risk monitoring Risk resolving

6. Risk identification Human resource Organizational Human resource Tools Estimation

7. Quantification of risk [4] Risk exposure RE = Probability * consequence

8. Risk analysis Questions What is causing the risk How much will it affect Are the risks dependent The probability that it will occur Is the exposure acceptable Severity probability

9. Risk planning Avoidance Protection Reduction Research Reserves Transfer

10. Risk resolving Risk documentation Risk managemnt [4]

11. Levels of risk Disaster management Repair on failure Risk mitigation Prevention Eliminate root cause

12. Finance and risk Risk management poses extra expenses Do we need this expense Medical insurance Spend on avoiding or solving

13. How much to spend Risk exposure is considered Is the risk exposure acceptable Price versus budget Which option to chose Cost Risk

14. Risk efficient frontier [2]

15. Conclusion Managing risk is important Correct quantification gives correct picture Risk management with over all project view Balance between cost and risk

16. References 1. “Risk management during requirement”; DeMarco,T.; Lister,T.; Software, IEEE, Volume: 20, Issue: 5, Sept.-Oct.2003, Pages:99 – 101 2. “The value of project risk management”; de Klerk, A.M.; Management of Engineering and Technology, 2001. PICMET '01. Portland International Conference on, Volume: Supplement, 29 July-2 Aug. 2001 Pages:570 - 576 vol.2 3. “Risk management in Global Software Development: A Position Paper”; Rafael prikladnicki, Marcelo Hideki yamaguti ; School of Computer Science, Pontifícia Universidade Católica do Rio Grande do Su 4. “Fundamentals of software risk management”; Frode L.Odegard; V1.0, March 7. 2002; Odegard Labs, Inc 5. “Project scheduling. Risk management. Organizing, planning and scheduling software projects”; ©Ian Sommerville 2000 Software Engineering, 7th edition 6. “Software Project Management. Risk Management & Organization”; Author: Glenn Booker 7. “Evaluating risk management strategies in resource planning”; Andrews, C.J.;.; Power Systems, IEEE Transactions on, Volume: 10, Issue: 1, Feb. 1995 Pages:420 – 426 8. “Putting risk management into practice”; Williams, R C; Walker,J.A.; Dorofee, A.J.; Software, IEEE, Volume: 14, Issue: 3, May-June 1997 Pages:75-82