Brief Description of Risk and Risk Strategies and Risk Identification in Software Engineering

Dec, 27 2020, 11:50 am [IST]

What is risk

Risks are possible difficulties that might affect the successful finish of a software project. Risks involve uncertainty and potential losses. Risk analysis and management are assigned to help a software team to understand and manage ambiguity during the development process.

Who does it

Managers, software engineers, and customers associate in risk analysis and Management.

What are the steps?

1. Identifying what can go wrong is the first step, called risk identification.
2. Every risk is analyzed to discover the possibility that it will occur and the damage that it will occur and the damage that it will do if it does occur.
3. Once this data is built, risks are ranked, by likelihood and impact.
4. Finally, a plan is developed to handle those risks with high probability and high impact.

Risk strategies

Reactive strategies: extremely common, also known as fire fighting, the project team set resources away to deal with problems and do nothing until a risk because of your obstacle.

Proactive strategies: risk management begins long before technical work starts, risks are identified, their probability and impact are assessed, and they are ranked by importance. Then the team builds a to avoid risks if they can minimize them if the risk turns into problems.

Software risks

when risks are analyzed, it is necessary to the quality level of ambiguity and the degree of loss linked with each risk. To achieve this, different categories of risks are estimated.

Project risks

Threaten the project plan i.e., the project schedule will sleep and but costs will increase. Project risks identify budgetary, schedule, personnel, resource, the customer under requirement problem.

• Project complexity, size, and degree of structural uncertainty were projecting risk factors.

Technical risks

Threaten product quality and the chance of the schedule if a technical risk is real, then the implementation may become difficult or impossible.

• If identify potential design, implementation, interface, verification under maintenance problems.
• Specification ambiguity, technical uncertainty, technical obsolescence are risk factors.

Business risks

Threaten the viability of the software to the build.

• The top five business risks are:

1. Building an excellent product that no one really wants.
2. Building a product that no longer suits the overall business strategy for the company.
3. Building a product that this sales force does not know how to sell.
4. Dropping the assistance of senior management due to the difference in focus.
5. Losing budgetary or personnel commitment 

• Known risks - predictable from a careful evaluation of the current project plan and those extrapolated from the first project experience
• Unknown risks - some problems easily occur without notice. They are much difficult to identify in advance.

Risk identification

Risk identification is a well-organized attempt to define threats to the project plan. By recognizing known and predictable risks, the project manager takes a first step towards avoiding them when possible and managing them when necessary.

There are two types of risks for every category.

1. Generic risks and
2. Product-specific risk

Generic risks are a potential threat to every software project. Product-specific risks are a threat to a specific product.

To identify the product-specific risks, the project plan and the software statement scope are examined. One method for identifying generic risk is to create a risk item checklist.

The checklist concentrates on some subset of known and predictable risks in the following generic subcategories:

• Product size - risks associated with the overall size of the software to be built or modified.
• Business impact - risks associated with constraints imposed by management or the Marketplace.
• Customer characteristics - risks associated with the elegance of the customer and the developer's capability to communicate with the customer in a timely manner.
• Process definition - risks connected with the degree to which the software method is established and is obeyed by the development system.
• Development environment - risks connected with the availability and quality of the tools to be used to build the product.
• Technology to be built - risks linked with the complexity of the system to be built and the modernity of the technology that is set by the system.
• Staff size and experience - risks associated with the wall technical and project experience of the software engineer who will do the work.

Another way

• Questions related to each of the topics can be answered for each software project.
• The answers to these questions allow the planner to estimate the impact of risk.
• Finally, a set of risk components and drivers are listed along with their probability of occurrence.

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