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Risk Management

The document discusses risk management in software projects, defining risk as uncertain events that can impact a project positively or negatively. It categorizes risks into project, technical, and business risks, and outlines strategies for risk reduction, including avoidance, transfer, and reduction. The importance of managing risks is emphasized as they affect budget, schedule, and scope.

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11 views5 pages

Risk Management

The document discusses risk management in software projects, defining risk as uncertain events that can impact a project positively or negatively. It categorizes risks into project, technical, and business risks, and outlines strategies for risk reduction, including avoidance, transfer, and reduction. The importance of managing risks is emphasized as they affect budget, schedule, and scope.

Uploaded by

mrrandom663
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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SE

Unit – 1
Risk Management

PRESENTED BY-
SOUMYA RANJAN MISHRA
DEPT.OF CSE
GIET UNIVERSITY
GUNUPUR

Friday 31 January 2025 GIET UNIVERSITY, GUNUPUR


.Risk Management.
Risk :-
Risk is an uncertain events that may have +ve or -ve impact on
project.
Risk Management :-
Risk management is the process of identifying & migrating risk.
why is it important?
Risk affects all aspects of our project like our budget, schedule,
scope.
Types of Risk Management :-
 There are three main categories of risks which can affect a
software project:
1. Project Risks
2. Technical Risks
3. Business Risks

Friday 31 January 2025 GIET UNIVERSITY, GUNUPUR


. Types of Risk Management.
Project risks:
 Project risks concern various forms of budgetary, schedule,
personnel, resource, and customer-related problems.
Technical risks:
 Technical risks concern potential design, implementation,
interfacing, testing, and maintenance problems.
 Technical risks also include ambiguous specification,
incomplete specification, changing specification, technical
uncertainty, and technical obsolescence.
 Most technical risks occur due the development team’s
insufficient knowledge about the product.
Business risks:
 This type of risks includes the risk of building an excellent
product that no one wants, losing budgetary commitments,
etc.
Friday 31 January 2025 GIET UNIVERSITY, GUNUPUR
. Risk Reducing.
Risk Reducing (reducing risk of loss from the occurrence of any
undesirable event )
 After all the identified risks of a project have been assessed,
plans are made to contain the most damaging and the most
likely risks first.
 Different types of risks require different containment
procedures. In fact, most risks require considerable ingenuity
on the part of the project manager in tackling the risks.
There are three main strategies for risk containment:
Avoid the risk:
 Risks can be avoided in several ways. Risks often arise due
to project constraints and can be avoided by suitably
modifying the constraints. The different categories of
constraints that usually give rise to risks are
Process-related risk: These risks arise due to aggressive
work schedule, budget, and resource utilization.

Friday 31 January 2025 GIET UNIVERSITY, GUNUPUR


. Risk Reducing.
Product-related risks:
 These risks arise due to commitment to challenging product
features (e.g. response time of one second, etc.), quality,
reliability, etc.
Technology-related risks:
 These risks arise due to commitment to use certain
technology (e.g., satellite communication).
A few examples of risk avoidance can be the following:
Discussing with the customer to change the requirements to
reduce the scope of the work, giving incentives to the
developers to avoid the risk of manpower turnover, etc.
Transfer the risk:
 This strategy involves getting the risky components
developed by a third party, buying insurance cover, etc. Risk
reduction: This involves planning ways to contain the
damage due to a risk.
Friday 31 January 2025 GIET UNIVERSITY, GUNUPUR

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