Risk Managament in Software Engineering Abdul Serwadda

What is Risk Managament?  Risk generally originates from the need to pursue an opportunity in the wake of uncertainities or constraints in cost or capability  Risk management refers to all the processes that are undertaken to minimise the possibility of unexpected events.

What is Risk Managament ? In cases where risk events occur, risk management also entails the different steps that may be undertaken to handle the risks. In most software eng projects, risk factors are prioritised depending on which factors are more likely to affect an organization adversely. Risk thresholds usually set to determine when contingency plans must roll into action

Quantifying Risk Risk value— the expected loss due to a risk event occurring. Obtained by computing the product of the probability that a certain risk occurs, and the projected impact of the risk event

Quantifying Risk Let P(A) denote the probability that a risk event occurs, and C(A) denote the cost or impact of the risk. The value V (A) of the risk is V(A)=C(A)*P(A).

Quantifying Risk Source of probability /cost estimates project management team, customer expectations, research findings from related projects company vision and mission statement. For a number of risk factors on a given project, several approaches are used to model the aggregate risk….

Quantifying Risk

RISK MANAGEMENT PROCESS  Analysis of functional requirements.  Establishing scope of software development project and developing work breakdown structure

WORK BREAKDOWN STRUCTURE

RISK MANAGEMENT PROCESS  Identification of risky work packages.  Identifying risk events.  Probability and severity of risk events are analysed with the aid of qualitative and quantitative tools.

Risk management process Making risks management plan: At this stage, responses for the various risk events are developed. Risk factors include: lack of resources, scope creep, inadequate design, coding and unit testing

Risk Management Tools Risk Trak (Risk Trak Internartional: risktrak.com): identify, define, estimate, analyse uncertainties. Extensible to any industry Acertus (Securac Company): Web-based, enterprise- wide. Functionality: identify, measure, manage, mitigate risk WinAward: Bayesian Systems Inc

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