Kumar Bishwakarma gave a presentation on the basics of risk management. He discussed (1) reactive and proactive risk handling strategies, with reactive focusing on problems after they occur and proactive identifying risks in advance. He also covered (2) software risks like project, technical, business, known, predictable and unpredictable risks. Finally, he explained the process of (3) risk identification, projection, assessment, refinement, and developing a risk management, mitigation, monitoring and management plan to address risks throughout a project.
The document discusses risk analysis and management for software projects. It defines risks as potential problems that could affect project completion. The goal of risk analysis is to help teams understand and manage uncertainty. Key aspects covered include identifying risks, assessing probability and impact, prioritizing risks, developing risk mitigation plans, and monitoring risks during the project. The document provides examples of risk categories, analysis steps, and strategies for proactive versus reactive risk management.
This document discusses risk management in software projects. It covers identifying risks through checklists and questionnaires, estimating the probability and impact of risks, and developing contingency plans. Key aspects include identifying risks proactively, analyzing each risk's likelihood and consequences, prioritizing high probability/high impact risks, and monitoring risks and triggers to mitigate potential issues. The overall goal is to anticipate problems before they occur and control risks in order to reduce disruption and keep projects on track.
The document discusses risk analysis and management for software projects. It defines risks as potential problems that could affect project completion. The goal of risk analysis is to help teams understand and manage uncertainty. Key steps include identifying risks, estimating their probability and impact, prioritizing the most important risks, and developing a Risk Mitigation, Monitoring, and Management Plan to avoid, minimize, or prepare for the risks. The document provides examples of risk categories and checklists to help identify project, technical, and business risks.
Risk management is important for software projects to identify risks that could impact cost, schedule or quality and put mitigation plans in place. The key steps in risk management are risk identification, analysis, planning, monitoring. Risks can be project risks, product risks, technical risks or business risks. It's important to identify both known/predictable risks as well as unpredictable risks. The goal of risk management is to anticipate issues and have contingency plans to minimize negative impacts.
Risk management involves identifying potential risks, assessing their probability and impact, prioritizing risks, developing strategies to mitigate high-priority risks, and continuously monitoring risks throughout the project. There are different categories of risk including project risks, technical risks, business risks, known risks, and unpredictable risks. Effective risk management requires proactively identifying risks, tracking them over time, taking steps to reduce impact or likelihood, and open communication across teams.
The document summarizes the project risk analysis process for NKS Private Limited, a software company. It describes NKS' background and outlines the key steps in risk analysis: risk identification, risk projection including probability and impact assessment, risk refinement, and developing a risk mitigation, monitoring and management plan. An example risk is provided relating to software component reuse. The summary provides an overview of the risk analysis process and examples discussed in the document.
The document discusses risk analysis and management for software projects. It defines risks as potential problems that could affect project completion. The goal of risk analysis is to help teams understand and manage uncertainty. Key aspects covered include identifying risks, assessing probability and impact, prioritizing risks, developing risk mitigation plans, and monitoring risks during the project. The document provides examples of risk categories, analysis steps, and strategies for proactive versus reactive risk management.
This document discusses risk management in software projects. It covers identifying risks through checklists and questionnaires, estimating the probability and impact of risks, and developing contingency plans. Key aspects include identifying risks proactively, analyzing each risk's likelihood and consequences, prioritizing high probability/high impact risks, and monitoring risks and triggers to mitigate potential issues. The overall goal is to anticipate problems before they occur and control risks in order to reduce disruption and keep projects on track.
The document discusses risk analysis and management for software projects. It defines risks as potential problems that could affect project completion. The goal of risk analysis is to help teams understand and manage uncertainty. Key steps include identifying risks, estimating their probability and impact, prioritizing the most important risks, and developing a Risk Mitigation, Monitoring, and Management Plan to avoid, minimize, or prepare for the risks. The document provides examples of risk categories and checklists to help identify project, technical, and business risks.
Risk management is important for software projects to identify risks that could impact cost, schedule or quality and put mitigation plans in place. The key steps in risk management are risk identification, analysis, planning, monitoring. Risks can be project risks, product risks, technical risks or business risks. It's important to identify both known/predictable risks as well as unpredictable risks. The goal of risk management is to anticipate issues and have contingency plans to minimize negative impacts.
Risk management involves identifying potential risks, assessing their probability and impact, prioritizing risks, developing strategies to mitigate high-priority risks, and continuously monitoring risks throughout the project. There are different categories of risk including project risks, technical risks, business risks, known risks, and unpredictable risks. Effective risk management requires proactively identifying risks, tracking them over time, taking steps to reduce impact or likelihood, and open communication across teams.
The document summarizes the project risk analysis process for NKS Private Limited, a software company. It describes NKS' background and outlines the key steps in risk analysis: risk identification, risk projection including probability and impact assessment, risk refinement, and developing a risk mitigation, monitoring and management plan. An example risk is provided relating to software component reuse. The summary provides an overview of the risk analysis process and examples discussed in the document.
Risk analysis and management are important for software projects to identify potential problems and minimize their impact. There are various types of risks including product risks from unstable requirements or design, business risks from poor market fit or changes in strategy, and project risks from resource constraints or unreliable vendors. The risk management process involves risk avoidance, detection, control, and recovery through tools and techniques like risk anticipation rules, analysis tables, and prioritization of high impact risks to be addressed.
The document discusses risk management in software engineering projects. It covers risk identification by using risk checklists and questionnaires to determine known and predictable risks. It then discusses risk projection, which estimates the probability and impact of identified risks. Finally, it discusses developing a risk mitigation, monitoring, and management plan to proactively address risks through avoidance, monitoring, and contingency planning. The overall goal is to prioritize and systematically manage risks to avoid issues and keep projects on track.
This document discusses risk management in software engineering projects. It covers risk identification, risk projection/estimation, and risk mitigation, monitoring and management. Key points include defining risk, categorizing risks as project, technical or business risks, using checklists and questionnaires to identify known and predictable risks, estimating the probability and impact of risks, and developing a risk management plan to mitigate high-probability, high-impact risks.
This document discusses risk management in software engineering projects. It covers risk identification, estimation of probability and impact, and developing a risk management, monitoring and mitigation plan. Key aspects include categorizing risks, using checklists to identify known and predictable risks, estimating probability and impact on a scale, prioritizing risks, and developing contingency plans to reduce risks with high probability and impact. The goal is to take proactive steps to avoid risks and have plans in place to manage unavoidable risks in a controlled manner.
This document defines risk and risk management strategies for software projects. It discusses reactive versus proactive risk strategies, with proactive being preferred. It describes approaches to categorizing, identifying, and assessing risks. Key aspects of risk management covered include developing a risk table, estimating probability and impact, and creating plans to mitigate, monitor, and manage risks. The overall goal is to identify risks early and take steps to avoid or minimize their impact on the project.
Software project management involves planning, estimating, scheduling, risk management, people management, reporting, and proposal writing to deliver high-quality software on time and within budget while maintaining an effective development team. Key aspects of project management include identifying and addressing risks, motivating the project team through satisfying their social, esteem and self-realization needs, and promoting cohesion among small groups of 4-6 members. Effective people management and teamwork are essential for software project success.
Risk management involves identifying potential problems, assessing their likelihood and impacts, and developing strategies to address them. There are two main risk strategies - reactive, which addresses risks after issues arise, and proactive, which plans ahead. Key steps in proactive risk management include identifying risks through checklists, estimating their probability and impacts, developing mitigation plans, monitoring risks and mitigation effectiveness, and adjusting plans as needed. Common risk categories include project risks, technical risks, and business risks.
This document discusses risk management for software projects. It defines risk as the probability of suffering a loss and explains that risk management aims to reduce risks so the project can be delivered successfully to customers. The document outlines principles of risk management like taking a global perspective and continuous monitoring. It also categorizes types of software risks and describes the risk analysis process of identification, projection, assessment, and management through tools like risk tables. Finally, it presents the risk management paradigm of identifying, analyzing, planning, tracking, controlling, and communicating risks.
There are two main types of risk strategies: reactive and proactive. A reactive strategy monitors for risks but does not plan for them, while a proactive strategy identifies potential risks early and develops contingency plans. Some key risks include project delays or cost overruns, technical issues, and business risks. Risk identification involves checking known risk categories like project size, staff experience, and technology complexity. Risks are then estimated based on their probability and potential impact. Quality management aims to produce high quality software through techniques like quality control, assurance, and cost analysis. Six Sigma is a widely used strategy that defines requirements, measures current quality, analyzes defects, designs processes to avoid defects, and verifies the new process.
The document discusses risk management and provides details on risk identification, projection (estimation), and mitigation. It defines risk and outlines two key characteristics - uncertainty and loss. Risks are categorized by project, technical, and business types. Steps for risk management include identifying possible risks, analyzing each risk's probability and impact, ranking risks, and developing contingency plans for high probability/impact risks.
This document discusses risk management for software projects. It defines risk as potential problems that could affect a project's success and introduces reactive and proactive risk strategies. The document outlines common software risks like project risks, technical risks, and business risks. It also discusses risk analysis techniques like risk identification, projection, assessment, and management. These include determining probability and impact, categorizing risks, and developing risk mitigation, monitoring, and management plans. The goal of risk management is to understand risks and develop strategies to avoid or minimize problems during a project's development.
This lecture provides short and comprehensive view of software project and risk management. It has basic examples and calculations which is main concern of software project manager. This lecture helps to understand basics of risk management.
Project risk management involves identifying potential risks, analyzing their likelihood and impact, and developing responses to address threats and opportunities. The key processes include planning risk management, identifying risks, performing qualitative and quantitative risk analyses to prioritize risks, and planning risk responses. Qualitative analysis involves assessing probability and impact, while quantitative analysis uses numerical methods to evaluate risk exposure and determine contingency reserves. Risks are continually monitored and the risk register updated throughout the project life cycle.
The document discusses risk management for projects. It covers risk identification, which involves categorizing risks and identifying known and predictable risks through checklists and questionnaires. It also discusses risk projection, which involves estimating the probability and impact of risks. Finally, it discusses developing a risk table to prioritize risks and plan risk mitigation, monitoring, and management strategies. The overall goal is to proactively address risks to avoid issues and have contingency plans.
This document discusses risk management in project management. It explains that risk identification, probability assessment, and impact estimation are important activities for risk analysis. Risks can be proactively or reactively managed. Proactive management involves formal risk analysis and addressing root causes, while reactive management involves responding to risks as they occur. Key aspects of risk management include identifying risks, analyzing their probability and impact, developing a risk table to plan mitigation strategies, and continuously monitoring and managing risks throughout the project lifecycle.
Risk management involves identifying, analyzing, and responding to risks throughout a project's lifecycle to help achieve project objectives. It includes identifying potential risks, assessing their probability and impact, developing mitigation strategies, monitoring risks, and documenting the process. The key aspects of risk management covered in the document are defining risk, identifying common risk categories, assessing and prioritizing risks, developing mitigation plans, and establishing principles for an effective risk management process.
The document discusses risk management for software projects. It covers identifying risks through checklists and questionnaires, projecting risks by estimating probability and impact, and developing a risk mitigation, monitoring and management plan. The plan involves strategies to avoid known risks where possible and control unavoidable risks through contingency planning. Effective risk management requires taking a proactive approach to anticipate and manage risks.
This document discusses risk management in IT projects. It defines risk as an uncertain event that can positively or negatively impact project objectives. Risk management is identifying, evaluating, and mitigating risks that could impact desired project outcomes. The major risks in IT projects are scope, schedule, resources, and technology. Effective risk management includes identifying risks, analyzing them, developing responses, controlling risks over the project, and following principles like open communication, integrated management, and continuous process.
The document discusses software risk management and types of risks in software development projects. It identifies five main types of risks: schedule risks, budget risks, operational risks, technical risks, and programmatic risks. It then describes various tools and techniques for risk identification, assessment, and management, including documentation reviews, brainstorming, risk tables, and risk monitoring. Effective communication is also highlighted as important for coordinating the project team and managing risks.
This document contains slides from a Unit 7 PPT presentation on software engineering. It discusses metrics for processes and products, including software measurement and metrics for quality. It also covers risk management, identifying different types of risks, estimating risk impact, and developing a risk mitigation monitoring and management plan.
Risk analysis and management are important for software projects to identify potential problems and minimize their impact. There are various types of risks including product risks from unstable requirements or design, business risks from poor market fit or changes in strategy, and project risks from resource constraints or unreliable vendors. The risk management process involves risk avoidance, detection, control, and recovery through tools and techniques like risk anticipation rules, analysis tables, and prioritization of high impact risks to be addressed.
The document discusses risk management in software engineering projects. It covers risk identification by using risk checklists and questionnaires to determine known and predictable risks. It then discusses risk projection, which estimates the probability and impact of identified risks. Finally, it discusses developing a risk mitigation, monitoring, and management plan to proactively address risks through avoidance, monitoring, and contingency planning. The overall goal is to prioritize and systematically manage risks to avoid issues and keep projects on track.
This document discusses risk management in software engineering projects. It covers risk identification, risk projection/estimation, and risk mitigation, monitoring and management. Key points include defining risk, categorizing risks as project, technical or business risks, using checklists and questionnaires to identify known and predictable risks, estimating the probability and impact of risks, and developing a risk management plan to mitigate high-probability, high-impact risks.
This document discusses risk management in software engineering projects. It covers risk identification, estimation of probability and impact, and developing a risk management, monitoring and mitigation plan. Key aspects include categorizing risks, using checklists to identify known and predictable risks, estimating probability and impact on a scale, prioritizing risks, and developing contingency plans to reduce risks with high probability and impact. The goal is to take proactive steps to avoid risks and have plans in place to manage unavoidable risks in a controlled manner.
This document defines risk and risk management strategies for software projects. It discusses reactive versus proactive risk strategies, with proactive being preferred. It describes approaches to categorizing, identifying, and assessing risks. Key aspects of risk management covered include developing a risk table, estimating probability and impact, and creating plans to mitigate, monitor, and manage risks. The overall goal is to identify risks early and take steps to avoid or minimize their impact on the project.
Software project management involves planning, estimating, scheduling, risk management, people management, reporting, and proposal writing to deliver high-quality software on time and within budget while maintaining an effective development team. Key aspects of project management include identifying and addressing risks, motivating the project team through satisfying their social, esteem and self-realization needs, and promoting cohesion among small groups of 4-6 members. Effective people management and teamwork are essential for software project success.
Risk management involves identifying potential problems, assessing their likelihood and impacts, and developing strategies to address them. There are two main risk strategies - reactive, which addresses risks after issues arise, and proactive, which plans ahead. Key steps in proactive risk management include identifying risks through checklists, estimating their probability and impacts, developing mitigation plans, monitoring risks and mitigation effectiveness, and adjusting plans as needed. Common risk categories include project risks, technical risks, and business risks.
This document discusses risk management for software projects. It defines risk as the probability of suffering a loss and explains that risk management aims to reduce risks so the project can be delivered successfully to customers. The document outlines principles of risk management like taking a global perspective and continuous monitoring. It also categorizes types of software risks and describes the risk analysis process of identification, projection, assessment, and management through tools like risk tables. Finally, it presents the risk management paradigm of identifying, analyzing, planning, tracking, controlling, and communicating risks.
There are two main types of risk strategies: reactive and proactive. A reactive strategy monitors for risks but does not plan for them, while a proactive strategy identifies potential risks early and develops contingency plans. Some key risks include project delays or cost overruns, technical issues, and business risks. Risk identification involves checking known risk categories like project size, staff experience, and technology complexity. Risks are then estimated based on their probability and potential impact. Quality management aims to produce high quality software through techniques like quality control, assurance, and cost analysis. Six Sigma is a widely used strategy that defines requirements, measures current quality, analyzes defects, designs processes to avoid defects, and verifies the new process.
The document discusses risk management and provides details on risk identification, projection (estimation), and mitigation. It defines risk and outlines two key characteristics - uncertainty and loss. Risks are categorized by project, technical, and business types. Steps for risk management include identifying possible risks, analyzing each risk's probability and impact, ranking risks, and developing contingency plans for high probability/impact risks.
This document discusses risk management for software projects. It defines risk as potential problems that could affect a project's success and introduces reactive and proactive risk strategies. The document outlines common software risks like project risks, technical risks, and business risks. It also discusses risk analysis techniques like risk identification, projection, assessment, and management. These include determining probability and impact, categorizing risks, and developing risk mitigation, monitoring, and management plans. The goal of risk management is to understand risks and develop strategies to avoid or minimize problems during a project's development.
This lecture provides short and comprehensive view of software project and risk management. It has basic examples and calculations which is main concern of software project manager. This lecture helps to understand basics of risk management.
Project risk management involves identifying potential risks, analyzing their likelihood and impact, and developing responses to address threats and opportunities. The key processes include planning risk management, identifying risks, performing qualitative and quantitative risk analyses to prioritize risks, and planning risk responses. Qualitative analysis involves assessing probability and impact, while quantitative analysis uses numerical methods to evaluate risk exposure and determine contingency reserves. Risks are continually monitored and the risk register updated throughout the project life cycle.
The document discusses risk management for projects. It covers risk identification, which involves categorizing risks and identifying known and predictable risks through checklists and questionnaires. It also discusses risk projection, which involves estimating the probability and impact of risks. Finally, it discusses developing a risk table to prioritize risks and plan risk mitigation, monitoring, and management strategies. The overall goal is to proactively address risks to avoid issues and have contingency plans.
This document discusses risk management in project management. It explains that risk identification, probability assessment, and impact estimation are important activities for risk analysis. Risks can be proactively or reactively managed. Proactive management involves formal risk analysis and addressing root causes, while reactive management involves responding to risks as they occur. Key aspects of risk management include identifying risks, analyzing their probability and impact, developing a risk table to plan mitigation strategies, and continuously monitoring and managing risks throughout the project lifecycle.
Risk management involves identifying, analyzing, and responding to risks throughout a project's lifecycle to help achieve project objectives. It includes identifying potential risks, assessing their probability and impact, developing mitigation strategies, monitoring risks, and documenting the process. The key aspects of risk management covered in the document are defining risk, identifying common risk categories, assessing and prioritizing risks, developing mitigation plans, and establishing principles for an effective risk management process.
The document discusses risk management for software projects. It covers identifying risks through checklists and questionnaires, projecting risks by estimating probability and impact, and developing a risk mitigation, monitoring and management plan. The plan involves strategies to avoid known risks where possible and control unavoidable risks through contingency planning. Effective risk management requires taking a proactive approach to anticipate and manage risks.
This document discusses risk management in IT projects. It defines risk as an uncertain event that can positively or negatively impact project objectives. Risk management is identifying, evaluating, and mitigating risks that could impact desired project outcomes. The major risks in IT projects are scope, schedule, resources, and technology. Effective risk management includes identifying risks, analyzing them, developing responses, controlling risks over the project, and following principles like open communication, integrated management, and continuous process.
The document discusses software risk management and types of risks in software development projects. It identifies five main types of risks: schedule risks, budget risks, operational risks, technical risks, and programmatic risks. It then describes various tools and techniques for risk identification, assessment, and management, including documentation reviews, brainstorming, risk tables, and risk monitoring. Effective communication is also highlighted as important for coordinating the project team and managing risks.
This document contains slides from a Unit 7 PPT presentation on software engineering. It discusses metrics for processes and products, including software measurement and metrics for quality. It also covers risk management, identifying different types of risks, estimating risk impact, and developing a risk mitigation monitoring and management plan.
Sachpazis_Consolidation Settlement Calculation Program-The Python Code and th...Dr.Costas Sachpazis
Consolidation Settlement Calculation Program-The Python Code
By Professor Dr. Costas Sachpazis, Civil Engineer & Geologist
This program calculates the consolidation settlement for a foundation based on soil layer properties and foundation data. It allows users to input multiple soil layers and foundation characteristics to determine the total settlement.
Data Communication and Computer Networks Management System Project Report.pdfKamal Acharya
Networking is a telecommunications network that allows computers to exchange data. In
computer networks, networked computing devices pass data to each other along data
connections. Data is transferred in the form of packets. The connections between nodes are
established using either cable media or wireless media.
Online train ticket booking system project.pdfKamal Acharya
Rail transport is one of the important modes of transport in India. Now a days we
see that there are railways that are present for the long as well as short distance
travelling which makes the life of the people easier. When compared to other
means of transport, a railway is the cheapest means of transport. The maintenance
of the railway database also plays a major role in the smooth running of this
system. The Online Train Ticket Management System will help in reserving the
tickets of the railways to travel from a particular source to the destination.
This is an overview of my current metallic design and engineering knowledge base built up over my professional career and two MSc degrees : - MSc in Advanced Manufacturing Technology University of Portsmouth graduated 1st May 1998, and MSc in Aircraft Engineering Cranfield University graduated 8th June 2007.
2. Outline:
Basic of Risk Management
Reactive and Proactive Risk Handling Strategies
Software Risks
Risk Identification
Risk Projection and Risk Table
Risk Assessment
Risk Refinement
RMMM and RMMM Plan
3. What is risk?
Tomorrow problems are today's risk
potential problem that may or may not occur in the future
It is the uncertainty, a irrelevant future occurrence or happening
Effects of risks:
Project diversion from its actual performance
Unable to meet proper time-lines and thus overall success is affected.
Quality degradation
Thus, the overall process of identifying its impact and making plans in advance
is called the risk analysis and management.
4. Reactive and Proactive Risk Handling Strategies
a)Reactive Risk
concerned with the process of finding solutions once the problem exists, the software team does
nothing about risk until something goes wrong.
The software engineer or team never worry about the problems until they happen, This is often
called a fire-fighting mode
b) Proactive Risk Strategy
In proactive software engineer starts thinking about possible risks in a project before they occur
in the sotfware
begins long before technical work is initiated where potential risks are identified, their probability
and impact are assessed, and they are ranked by importance
the primary objective is to avoid risk, but all risks cannot be avoided, so exercise to make them
minimal.
5. Software Risks
• Risk concerns the future happening that always involves two characteristics:
• (a) uncertainty—the risk may or may not happen; that is, and
• (b) loss—if the risk becomes a reality, unwanted losses will occur.
different categories of risks are considered as
1) Project risk:- threaten the project plan.
• Project risks identify potential budgetary, schedule, personnel (staffing and
organization), resource, stakeholder, and requirements problems and their
impact on a software project.
6. 2) Technical risks:- threaten the quality and timeliness
• Technical risks identify potential design, implementation, interface,
verification, and maintenance
• problems. In addition, specification ambiguity, technical uncertainty,
technical obsolescence, and
• “leading-edge” technology are also risk factors.
• Technical risks occur because the problem is harder to solve than
expected.
7. 3) Business risks:- threaten the feasibility
It includes the top five business risks which are
i. Market risk: system that no one really wants
ii. Strategic risk: product no longer fits into the overall business
strategy
iii. Sales risk: the sales force doesn’t understand how to sell the
product
iv. Management risk: losing the support of senior management
v. Budget risks: losing budgetary or personnel commitment
8. 4) Known risks
• Risk that can be uncovered after careful evaluation of the project
plan, the business and technical
• environment in which the project is being developed, and other
reliable information sources (e.g., unrealistic delivery date, lack of
documented requirements or software scope, poor development
environment).
9. 5) Predictable risks
• These risks are identified from past project experience (e.g., staff
turnover, poor communication
• with the customer, dilution of staff effort as ongoing maintenance
requests are serviced).
6) Unpredictable risks
• They can and do occur, but they are extremely difficult to identify in
advance
10. Risk Identification
• Risk identification is a systematic attempt to specify threats to the
project plan (estimates, schedule, resource loading, etc.).
• Risks can be removed or avoided only if they can be identified.
• By identifying known and predictable risks, the project manager takes
a first step toward avoiding them when possible and controlling them
when necessary.
• The different categories of risk (project, technical, business, known,
predictable, and unpredictable) can be further divided as:
i. Generic:-. They are a potential threat to every software project.
ii. Product- Specified-Risk:-that are associated only to certain
products.
11. Risk Identification
One method for identifying risks is to create a risk item checklist; we need to identify
the following area from where risk will appear:
1. Product size—risks associated with the overall size of the software to be built or
modified.
2. Business impact—risks associated with constraints imposed by management or the
marketplace.
3. Stakeholder characteristics—risks associated with the sophistication of the
stakeholders and the developer’s ability to communicate with stakeholders in a timely
manner.
4. Process definition—risks associated with the degree to which the software process
has been defined and is followed by the development organization.
5. Development environment—risks associated with the availability and quality of the
tools to be used to build the product.
12. 6. Technology to be built—risks associated with the complexity of the
system to be built and the “newness” of the technology that is
packaged by the system.
7. Staff size and experience—risks associated with the overall technical
and project experience of the software engineers who will do the work.
13. Risk Projection and Risk Table
• Risk Projection (aka Risk Estimation) is the process of rating the risk based
upon its likelihood or probability of occurrence and the consequence of the
problem associated with the risk.
• It is carried out by the project planner along with other managers and
technical staffs.
• During risk estimation, the first step is the prioritizing risks and hence we can
allocate resources where they will have the most impact.
• The process of categorization of various possible risks that may appears in in
project is called risk assessment.
• The analysis of nature, scope and time are main component of risk
assessment
14. This process involves different activities like:
• Establishing a scale for the likelihood of a risk.
• Determining a scale for the likelihood (probability) of a risk.
• Determining and listing out the consequences of the risk.
15. Risk Table
• A risk table provides a simple technique for risk projection. The risk
table can be implemented as a spreadsheet model.
• This enables easy manipulation and sorting of the entries.
• Here, at first all risks are listed in the first column of the table. This
can be accomplished with the help of the risk item checklists
reference.
• Each risk is categorized in the second column.
• The probability of occurrence of each risk is entered in the next
column of the table. The probability value for each risk can be
estimated by team members individually.
17. Risk Refinement
• During early stages of project planning, a risk may be stated quite generally. But as time passes,
we become more familiar learn about the project and risk. It might be possible to refine the risk
into a set of more detailed risks, each somewhat easier to mitigate, monitor and manage.
• One way to do this is to represent the risk in condition-transition-consequence (CTC) format.
That is, the risk is stated in the following form:
• Given that <condition> then there is concern that (possibly) <consequence>.
For example:
• Sub-condition 1. Certain reusable components were developed by a third party with no
knowledge of internal design standards.
• Sub-condition 2. The design standard for component interfaces has not been solidified and may
not conform to certain existing reusable components.
• Sub-condition 3. Certain reusable components have been implemented in a language that is not
supported on the target environment.
18. RMMM
1. Risk Mitigation (Risk Avoidance)
• It is an activity used to avoid problems (Risk Avoidance).
Steps for mitigating the risks as follows.
• Finding out the risk.
• Removing causes that are the reason for risk creation.
• Controlling the corresponding documents from time to time.
• Conducting timely reviews to speed up the work.
19. Risk Monitoring :
• It is an activity used for project tracking.
It has the following primary objectives as follows:
• To check if predicted risks occur or not.
• To ensure proper application of risk aversion steps defined for risk.
• To collect data for future risk analysis.
• To allocate what problems are caused by which risks throughout the
project.
20. Risk Management
• The risk management process can
be broken down into two
interrelated phases, risk assessment
and risk control.
• These phases are further broken
down. Risk assessment involves risk
identification, risk analysis, and risk
prioritization. Risk control involves
risk planning, risk mitigation, and
risk monitoring.
21. The RMMM plan
• The RMMM plan is a
document in which all the risk
analysis activities are
described.
• In most cases, the risk
information sheet (RIS) is
maintained using a database
system so that creation and
information entry, priority
ordering, searches, and other
analysis may be accomplished
easily.
• Once RMMM has been
documented and the project
has begun, risk mitigation and
monitoring steps commence.
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