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Risk management
CS-TR-3782
UMIACS-TR-97-38

The Riskit Method for Software Risk Management, version 1.00
Jyrki Kontio
Institute for Advanced Computer Studies and
Department of Computer Science
University of Maryland
A.V. Williams Building
College Park, MD 20742, U.S.A.
Emails: jkontio@cs.umd.edu jyrki.kontio@cs.hut.fi Version 1.00
Status: Final
Abstract:
This paper presents the Riskit method for software engineering risk management. This document contains the motivation for the method, description of the Riskit analysis graph and a detailed description of the Riskit process.

Table of Contents
1.
2.
3.
4.
5.
6.

Introduction ...................................................................................................................4
Acknowledgments ..........................................................................................................4
Terminology...................................................................................................................5
Motivation for Risk Management....................................................................................6
Decomposing Risk: The Riskit Analysis Graph ...............................................................9
Risk Management Process ............................................................................................14
6.1 Risk Management Mandate Definition ......................................................................17
6.2 Goal review ..............................................................................................................19
6.3 Risk Identification.....................................................................................................22
6.4 Risk Analysis ............................................................................................................23
6.4.1 Risks Item Clustering ........................................................................................24
6.4.2 Risk



References: Microsoft Bookshelf/Houghton Mifflin Company, 1992. Anonymous. Merriam-Webster 's Collegiate Dictionary, Springfield, MA: MerriamWebster, 1995. V.R. Basili, Software Development: A Paradigm for the Future pp. 471-485, 1989. V.R. Basili, Software Modeling and Measurement: The Goal/Question/Metric Paradigm CS-TR-2956, 1992 pp. 370-381, 1992. Proceedings of the International Conference on Software Engineering, May 1992 Sons, 1994. pp. 528-532. Sons, 1994. pp. 470-476. A. Behforooz and F.J. Hudson. Software Engineering Fundamentals, New York: Oxford University Press, 1996. B.W. Boehm. Software Engineering Economics, Englewood Cliffs, N.J.: Prentice Hall, 1981. B.W. Boehm. Tutorial: Software Risk Management, IEEE Computer Society Press, 1989. Engineering Institute, 1993. R.N. Charette. Software Engineering Risk Analysis and Management, New York: McGraw-Hill, 1989. R.N. Charette. Applications Strategies for Risk Analysis, New York: McGraw-Hill, 1990. 2-9, September, 1992. Oxford: Pergamon, 1989. pp. 45-50. [21] N.E. Fenton. Software Metrics A Rigorous Approach, London: Chapman & Hall, 1991. [22] S. French. Decision Theory: An Introduction to the Mathematics of Rationality, Chichester: Ellis Horwood, 1986. [23] S. French. Readings in Decision Analysis, London: Chapman and Hall, 1989. [25] D.W. Karolak. Software Engineering Risk Management, Washington, DC: IEEE, 1996. [26] R.L. Keeney and H. Raiffa. Decision with Multiple Objectives: Preferences and Value Tradeoffs, New York: John Wiley & Sons, 1976. [27] J. Kontio, Software Engineering Risk Management: A Technology Review Report PI_4.1, 1994

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