Risk Management
Risk Management in Software Development Projects
Risk management in a software development improves performance and efficiency, also helps to reach target and goals in the correct way. It reduces the chances of undesirable things taking place or reduces the effect if they do happen. Thus provide a greater control over the outcomes. Reduces shocks and increases likelihood of success in software development.
What is a Risk?
A risk is an uncertain event or condition that affects the project. Risk is possibility or any deviation from what is planned. It is something which may or may not happen but if it happens then it impacts the project.
It has the potential impact on time, cost etc. Not all the risks are negative. There can be positive risks too. In one hand, negative risks bring threat on the other hand positive risks brings opportunity.
“A person who can foresee problems / difficulties and identify proactive solutions will live happily”-Chanakya (350-283 BC) Author of Artha Sashtra.
We face risks all around us. In cricket, Batsman take a lot of risk before hitting a six. Marriage can be considered as a huge risk as we do not know what our partner is exactly like. Investing in stock is a risky thing as we do not know whether the share prices will rise or fall. Changing a job is a risk as we do not know about our new environment. Even going to office is even a risk because of the accident prone high traffic roads. There are risks all around us. An interesting fact says that cat drinks milk closing its eye because it does not want to get disturbed by the surrounding and enjoy the taste of milk completely. So, when anybody comes to beat him it remains unnoticed to the cat. Hence, it is beaten easily. The moral is we should not be so much involved in current successes that we forget to plan the future risks. We must always be ready with a risk management plan. Organisation must undergo risk management in order to protect their business and asset from
Risk management in a software development improves performance and efficiency, also helps to reach target and goals in the correct way. It reduces the chances of undesirable things taking place or reduces the effect if they do happen. Thus provide a greater control over the outcomes. Reduces shocks and increases likelihood of success in software development.
What is a Risk?
A risk is an uncertain event or condition that affects the project. Risk is possibility or any deviation from what is planned. It is something which may or may not happen but if it happens then it impacts the project.
It has the potential impact on time, cost etc. Not all the risks are negative. There can be positive risks too. In one hand, negative risks bring threat on the other hand positive risks brings opportunity.
“A person who can foresee problems / difficulties and identify proactive solutions will live happily”-Chanakya (350-283 BC) Author of Artha Sashtra.
We face risks all around us. In cricket, Batsman take a lot of risk before hitting a six. Marriage can be considered as a huge risk as we do not know what our partner is exactly like. Investing in stock is a risky thing as we do not know whether the share prices will rise or fall. Changing a job is a risk as we do not know about our new environment. Even going to office is even a risk because of the accident prone high traffic roads. There are risks all around us. An interesting fact says that cat drinks milk closing its eye because it does not want to get disturbed by the surrounding and enjoy the taste of milk completely. So, when anybody comes to beat him it remains unnoticed to the cat. Hence, it is beaten easily. The moral is we should not be so much involved in current successes that we forget to plan the future risks. We must always be ready with a risk management plan. Organisation must undergo risk management in order to protect their business and asset from