Description
This is a document about Risk Management in Software Project.
Risk Management in Software Project
Risk Management for Software Project
Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events. Risks can come from uncertainty in financial markets, project failures, legal liabilities, credit risk, accidents, natural causes and disasters as well as deliberate attacks from an adversary. Several risk management standards have been developed including the Project Management Institute, the National Institute of Science and Technology, actuarial societies, and ISO standards. According to these standards a prioritization process is followed whereby the risks with the greatest loss and the greatest probability of occurring are handled first, and risks with lower probability of occurrence and lower loss are handled in descending order. Following are the steps that should be followed a a particular risk assessment activity
1. Risk identification, which identifies specific project risk items that are likely to endanger a 2. Risk analysis, which determines the probabilities of individual and consolidated loss 3. Risk prioritization produces a ranked ordering of risk items that were identified and 4. Risk management planning, which outlines how each individual item of risk will be
addressed, and how individual risk plans are integrated into the overall project management plan; 5. Risk resolution in which implemented actions or activities either eliminate or resolve the risk involved with the particular item; and 6. Risk monitoring, where the projects progress towards resolving risk items or taking corrective action is tracked. Risk Management in Software Project Following are the major Risks that a Software project faces during its design, development and implementation phase. analyzed; probabilities and costs for each risk item; programís chances of success;
1. Unrealistic schedule and budgets 2. Mis-understanding in Requirement Analysis 3. Developing wrong functions and properties 4. Stress in full load environment 5. Configuration control 6. Continuing stream of requirement changes
7. Unavailability of skilled resource 8. Key resources leaving the organization 9. Developing the wrong user interface 10. Real-time performance shortfall 11. Miscommunication between cross-functional team 12. Change in external environment, eg legal, environmental,etc
Potential Risk Treatment techniques Once risks have been identified and assessed, all techniques to manage the risk fall into one or more of these four major categories • Prevent defects from being introduced. At least as much effort should be placed in keeping defects out of the code as detecting their presence in the code. Methods for doing this include the use of appropriate software engineering standards and procedures; independent quality auditing to ensure standards and procedures are followed; establish a formal method of accumulating and disseminating lessons learned from past experiences and mistakes; high quality inputs such as software tools and subcontracted software. Ensure that defects are detected and corrected as early as possible, as the longer the errors go undetected, the more expensive they are to correct. Therefore, quality controls must be put in place during all stages of the development life cycle, and to all key development products such as requirements, designs, documentation and code. These should all be subjected to rigorous review methods such as inspections, walkthroughs, and technical reviews. Eliminate the causes as well as the symptoms of the defects. This is an extension of the previous principle, removal of the defect without eliminating the cause is not a satisfactory way to solve the problem. By removing the cause, you have in effect improved the process Independently audit the work for compliance with standards and procedures. Audits should be carries out at the project level which will determine if project activities were carried out in accordance to the standards and procedures established in the quality process, and whether those standards and procedures are adequate to ensure the quality of the project in general.
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doc_246148236.doc
This is a document about Risk Management in Software Project.
Risk Management in Software Project
Risk Management for Software Project
Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events. Risks can come from uncertainty in financial markets, project failures, legal liabilities, credit risk, accidents, natural causes and disasters as well as deliberate attacks from an adversary. Several risk management standards have been developed including the Project Management Institute, the National Institute of Science and Technology, actuarial societies, and ISO standards. According to these standards a prioritization process is followed whereby the risks with the greatest loss and the greatest probability of occurring are handled first, and risks with lower probability of occurrence and lower loss are handled in descending order. Following are the steps that should be followed a a particular risk assessment activity
1. Risk identification, which identifies specific project risk items that are likely to endanger a 2. Risk analysis, which determines the probabilities of individual and consolidated loss 3. Risk prioritization produces a ranked ordering of risk items that were identified and 4. Risk management planning, which outlines how each individual item of risk will be
addressed, and how individual risk plans are integrated into the overall project management plan; 5. Risk resolution in which implemented actions or activities either eliminate or resolve the risk involved with the particular item; and 6. Risk monitoring, where the projects progress towards resolving risk items or taking corrective action is tracked. Risk Management in Software Project Following are the major Risks that a Software project faces during its design, development and implementation phase. analyzed; probabilities and costs for each risk item; programís chances of success;
1. Unrealistic schedule and budgets 2. Mis-understanding in Requirement Analysis 3. Developing wrong functions and properties 4. Stress in full load environment 5. Configuration control 6. Continuing stream of requirement changes
7. Unavailability of skilled resource 8. Key resources leaving the organization 9. Developing the wrong user interface 10. Real-time performance shortfall 11. Miscommunication between cross-functional team 12. Change in external environment, eg legal, environmental,etc
Potential Risk Treatment techniques Once risks have been identified and assessed, all techniques to manage the risk fall into one or more of these four major categories • Prevent defects from being introduced. At least as much effort should be placed in keeping defects out of the code as detecting their presence in the code. Methods for doing this include the use of appropriate software engineering standards and procedures; independent quality auditing to ensure standards and procedures are followed; establish a formal method of accumulating and disseminating lessons learned from past experiences and mistakes; high quality inputs such as software tools and subcontracted software. Ensure that defects are detected and corrected as early as possible, as the longer the errors go undetected, the more expensive they are to correct. Therefore, quality controls must be put in place during all stages of the development life cycle, and to all key development products such as requirements, designs, documentation and code. These should all be subjected to rigorous review methods such as inspections, walkthroughs, and technical reviews. Eliminate the causes as well as the symptoms of the defects. This is an extension of the previous principle, removal of the defect without eliminating the cause is not a satisfactory way to solve the problem. By removing the cause, you have in effect improved the process Independently audit the work for compliance with standards and procedures. Audits should be carries out at the project level which will determine if project activities were carried out in accordance to the standards and procedures established in the quality process, and whether those standards and procedures are adequate to ensure the quality of the project in general.
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doc_246148236.doc