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Risk Management

August 10, 2009
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Software risk management is an approach for minimizing the uncertainty and potential loss associated with the project. Risk includes product size, business impact, customer related, process, technology, development environment, schedule and cost.Building and maintaining software is risky business.
Benefits of Risk Management
It makes an aggressive risk-taking possible
It provides the minimum cost
It isolates the failure of subprojects
Phases of software Risk Management
Identify the risk
Analyze the risk
Probability (occurrence of the particular risk should be estimated)
Impact (project of the particular risk should be estimated)
Some of the risk items are
Schedule, budget, and cost
Requirement mismatch
User interface mismatch
Architecture, performance, and quality
Requirements changes
Legacy software
Externally performed task
External components
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