Software Engineering Topic: Risk Management

Software Engineering Topic: Risk Management

1. Software Engineering Risk Management Prof. Navya Francis Asst. Professor Kristu Jayanti College

2. RISK MANAGEMENT Risk management is increasingly seen as one of the main jobs of project managers. It involves anticipating risks that might affect the project schedule or the quality of the software being developed and taking action to avoid these risks. The results of the risk analysis should be documented in the project plan along with an analysis of the consequences of a risk occurring. Effective risk management makes it easier to cope with problems and to ensure that these do not lead to unacceptable budget or schedule slippage.

3. Several types of Risk in Software Development

4. Risk management process

5. Risk identification:- Possible project, product and business risks are identified. Risk analysis :- The likelihood and consequences of these risks are assessed. Risk planning :- Plans to address the risk either by avoiding it or minimizing its effects on the project are drawn up. Risk monitoring :- The risk is constantly assessed and plans for risk mitigation are revised as more information about the risk becomes available. Several stages of Risk management process

6. Risk Identification Risk identification is the first stage of risk management . It is concerned with discovering possible risks to the project. In principle, these should not be assessed or prioritized at this stage, although, in practice, risks with very minor consequences or very low probability risks are not usually considered. Risk identification may be carried out as a team process using a brainstorming approach or may simply be based on experience. To help the process, a checklist of different types of risk may be used

7. Six types of risk Technology risks Risks that derive from the software or hardware technologies that are used to develop the system. People risks Risks that are associated with the people in the development team. Organisational risks Risks that derive from the organisational environment where the software is being developed. Tools risks Risks that derive from the CASE tools and other support software used to develop the system. Requirements risks Risks that derive from changes to the customer requirements and the process of managing the requirements change. Estimation risks Risks that derive from the management estimates of the system characteristics and the resources required to build the system

8. Risk analysis During the risk analysis process, you have to consider each identified risk and make a judgement about the probability and the seriousness of it. There is no easy way to do this—you must rely on your own judgement and experience, which is why experienced project managers are generally the best people to help with risk management but should be based around a number of bands: The probability of the risk might be assessed as very low (75%). The effects of the risk might be assessed as catastrophic, serious, tolerable or insignificant

9. Both the probability and the assessment of the effects of a risk may change as more information about the risk becomes available and as risk management plans are implemented. Therefore, you should update this table during each iteration of the risk process. Once the risks have been analysed and ranked, you should assess which are most significant. Your judgement must depend on a combination of the probability of the risk arising and the effects of that risk. In general, catastrophic risks should always be considered, as should all serious risks that have more than a moderate probability of occurrence

10. Risk planning The risk planning process considers each of the key risks that have been identified and identifies strategies to manage the risk. There is no simple process that can be followed to establish risk management plans. It relies on the judgement and experience of the project manager.

11. Strategies Avoidance strategies Following these strategies means that the probability that the risk will arise will be reduced. Minimization strategies Following these strategies means that the impact of the risk will be reduced. Contingency plans Following these strategies means that you are prepared for the worst and have a strategy in place to deal with it.

12. Risk monitoring Risk monitoring involves regularly assessing each of the identified risks to decide whether or not that risk is becoming more or less probable and whether the effects of the risk have changed. Of course, this cannot usually be observed directly, so you have to look at other factors that give you clues about the risk probability and its effects. These factors are obviously dependent on the types of risk. Risk monitoring should be a continuous process, and, at every management progress review, you should consider and discuss each of the key risks separately

13. THANK YOU