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  • Risk Management

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    Risk in software project is any anticipated unfavourable event or possibility of incurring loss in the Project while the project in underway . It can hamper the successful and timely completion of project.
    To Identify the risk in the Project is always remain the main concern for the management .
    For successful completing the project Effective analysis of software risks becomes the task of high priority . Risk management consist of three essential activities: Risk identification,risk assessment and risk containment
    Risk can effect following parameters of project :

    i. Scope ii. Schedule iii. Effort iv. Quality v. Lost

    To remove the possibility of risk in the project , Risk Management is implemented .
    Risk Management is a practice for managing risk in the project By following establish process ,method and tools .

    Risk Management Strategy :
    A> Identify Method and tools used to Eliminate the risk (Mitigation) .
    B> Frequency of Risk Monitoring\Reporting .
    C> To Make effective contingency plan .
    D> To Make attrition control plan .
    E> To decide effective Risk response strategy .

    Some of the Basic Examples of Risk :
    - Running out of fund .
    - Sudden changes of Government policies .
    - Lack of knowledge about tools and techniques .
    - Frequently changing requirement .
    - Inefficient time for testing.

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