U-M CIS 375 - Risk Management (24 pages)

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Risk Management



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Risk Management

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Lecture Notes


Pages:
24
School:
University of Michigan
Course:
Cis 375 -

Unformatted text preview:

Risk Management CIS 375 Bruce R Maxim UM Dearborn 1 What is Risk Risks are potential problems that may affect successful completion of a software project Risks involve uncertainty and potential losses Risk analysis and management are intended to help a software team understand and manage uncertainty during the development process 2 Risk Strategies Reactive strategies very common also known as fire fighting project team sets resources aside to deal with problems team does nothing until a risk becomes a problem Proactive strategies risk management begins long before technical work starts risks are identified and prioritized by importance team builds a plan to avoid risks if they can or to minimize risks if they turn into problems 3 Software Risks 1 Project risks threaten the project plan Technical risks threaten product quality and the timeliness of the schedule Business risks threaten the viability of the software to be built market risks strategic risks management risks budget risks 4 Software Risks 2 Known risks predictable from careful evaluation of current project plan and those extrapolated from past project experience Unknown risks some problems will simply occur without warning 5 Risk Analysis Risk identification Risk projection impact of risks likelihood of risk actually happening Risk assessment what will change if risk becomes problem Risk management 6 Risk Identification Product specific risks the project plan and software statement of scope are examined to identify any special characteristics of the product that may threaten the project plan Generic risks are potential threats to every software product product size customer characteristics development environment technology to be built 7 Risk Projection The risk drivers affecting each risk component are classified according to their impact category potential consequences of each undetected software fault or unachieved project outcome are described 8 Risk Impact Risk components performance cost support



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