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Risk management in Software Engineering

Risk management in Software Engineering. Daripally Pradeep Reddy. Introduction. What is Risk?. Risk can be defined as possibility of loss, damage or disadvantage Risk can brings about negative consequences Risk is to be identified in earlier stage No project is free of Risk.

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Risk management in Software Engineering

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  1. Risk management in Software Engineering Daripally Pradeep Reddy

  2. Introduction

  3. What is Risk? • Risk can be defined as possibility of loss, damage or disadvantage • Risk can brings about negative consequences • Risk is to be identified in earlier stage • No project is free of Risk

  4. What is Risk Management • Software engineering practice which provides tools, methods and some process to effectively manage risk • Provides good environment to continuously asses all possible risks

  5. Risk Management promises following • Disasters in project are avoided • Reacting to the problem in early stages there by reducing the need for rework • Better understanding of risks and their effect on project. • Consistent and systematic handling of risks

  6. Consequences of not doing Risk management • Management does not have any idea of future consequences • Decisions will be made without complete information • More resources will be spent correcting problem

  7. Risk Management process model Identify Analyze Track Communication Plan Control

  8. Risk Management process • Identify: potential risks are identified • Analyze: Evaluating impact, probability, and prioritize risks • Plan: Translating risk information into actions and implementing actions • Track: Monitoring risk indicators • Control: Correcting deviations in risk mitigation plans • Communication: Provides information on risk activities, current risks and emerging risks

  9. Risk Manager • Need Risk manager if the project is large enough • Responsibility is to capture and formalize risk management activities and results

  10. Obstacles • Does not guarantee success • New phenomenon and many does not know possibility • Difficult to understand as it is abstract phenomenon

  11. Principles of Risk management • Forward looking view • Open communication • Continuous process • Team work • Integrated management • Global perspective

  12. Conclusion • Risk is essential for progress and failure is key part of learning • Though Risk Management does not guarantee success it improves decision making • Risk management avoids surprises and improves chances of success

  13. Questions ?

  14. Thank you

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