Risk Management IN SOFTWARE ENGINEERING CSC 532 Advanced Software Engineering Term Paper Presentation Presented by : Vijaya S Karri
Contents • Risk Management • Risk Management Paradigm • Risk management framework • Dataflow diagram • Risk management in project management • Conclusion • References
Risk • Risk is the possibility of suffering loss. • It is the potential future harm that might occur due to some present action. There are three kinds of measures • Probability- It is a measure of the likelihood that a threat will occur. • Impact-It is a measure of the loss that occur when threat is realized. • Risk exposure- It helps to measure the magnitude of a risk
Types of risks • Technical risk: Includes problem with languages, project size, project functionality . • Management risk: It includes lack of management experience and lack of planing. • Financial risk: Includes cash flow, capital and budget issues. • Project Risks: affect project schedule or resources. • Product Risks: affect product quality or performance of software. • Personnel risk: Includes staffing lags, experience and training problems.
Risk Management • Risk management is a process for minimizing the risks. • Risk management activities: • Asses risk: Estimate the impact of the risk. • Plan for risk mitigation: It addressing or mitigating each and every risk, and produce a plan for implementing it. • Mitigate risk: It identifies the risk and tracking the plan to completion.
Risk management framework • There are three phases of the framework. Figure : Framework Structure
Dataflow Diagram • Inputs—this is an item that is used by a phase to produce an output. • Outputs—the results that can be produced by a phase. • Constraints—items that restrict the execution of a phase and its activities • Resources—items that are used while execution of a phase and its activities
Framework for risk management • Main questions answered by phase 1 • Who is sponsoring risk management ? • What is the plan for conducting risk management ? Main questions answered by this phase 2 • What resources are required to effectively conduct risk management ? • Which activities are performed to minimize the risk? Main questions answered by this phase 3 • What lessons were learned when conducting risk management? • How does the risk management practice (e.g., plan, methods, tools, resources, training) need to be updated or improved?
Conclusion • To manage the risks we have to establish a good bondage between the team members and customer. • A good base about risk management could gives a good deal in tackling the risks. • Risk not always negative and it is an opportunity to develop our projects in a better way with good results.
References • Christopher J. Alberts, Audrey J. Doro fee. Risk Management , TECHNICAL REPORT CMU/SEI-2010-TR-017 ESC-TR-2010-017 • Charette, Robert N. Application Strategies for Risk Analysis. New York, NY: McGraw-Hill Book Company, 1990. • Kontio, Jyrki: Software Engineering Risk Management: A Method, Improvement Framework, and Empirical Evaluation. • http://en.wikipedia.org/wiki/Risk_management
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