17 Questions
Which risk category is associated with the overall size of the software to be built?
Product size risks
Which risk category is associated with constraints imposed by management or the marketplace?
Business impact risks
Which risk category is associated with the sophistication of the customer and the developer's ability to communicate with the customer in a timely manner?
Customer characteristics risks
Which risk category is associated with the degree to which the software process has been defined and is followed?
Process definition risks
Which risk category is associated with the availability and quality of the tools to be used to build the project?
Development environment risks
Which risk category is associated with the complexity of the system to be built and the 'newness' of the technology in the system?
Technology to be built risks
What are internal risks in software projects?
Risks within the control of the project manager
Which type of risks are extrapolated from past project experience?
Predictable risks
What characterizes predictable risks in software projects?
Extrapolated from past project experience
Which type of risk is associated with a change in focus or people support loss?
Budget risk
What differentiates known risks from predictable risks?
Predictable risks are uncovered after careful evaluation of the project plan
What is the primary purpose of risk identification?
To systematically identify potential threats to the project plan
Which of the following is NOT one of the steps for risk management?
Implement all identified contingency plans immediately
What does it mean for a risk to be 'predictable'?
The risk can be easily foreseen based on past experience
Which risk management principle emphasizes learning from experience?
Emphasize a continuous process
According to the principles, what facilitates better risk identification?
A shared product vision among stakeholders
What is the highest level of risk impact mentioned?
Catastrophic
Study Notes
Risks in Software Projects
- There are two types of risks: generic risks that are a potential threat to every software project, and product-specific risks that can be identified only by those with a clear understanding of the technology, people, and environment specific to the project.
Product-Specific Risks
- These risks require examination of the project plan and statement of scope.
- Examples include technology, people, and environment-specific risks.
Risk Item Checklist
- A tool used to identify risks, focusing on known and predictable risks in specific subcategories.
- Can be organized in several ways, including:
- A list of characteristics relevant to each risk subcategory.
- A questionnaire that leads to an estimate of the impact of each risk.
- A list containing risk components and drivers and their probability of occurrence.
Known and Predictable Risk Categories
- 7 categories of known and predictable risks:
- Product size risks (associated with overall size of the software to be built).
- Business impact risks (associated with constraints imposed by management or the marketplace).
- Customer characteristics risks (associated with sophistication of the customer and communication).
- Process definition risks (associated with the degree to which the software process has been defined and followed).
- Development environment risks (associated with availability and quality of tools).
- Technology risks (associated with complexity of the system to be built and "newness" of technology).
- Staff size and experience risks (associated with technical and project experience of software engineers).
Recording Risk Information
- Risks are recorded with information such as project name, risk type, priority, and risk factors.
Types of Software Risks
- Software risks exist due to uncertainty and unknowns that cannot be incorporated into the project plan.
- Two types of software risks:
- Internal risks (within the control of the project manager).
- External risks (beyond the control of the project manager).
Risk Categorization
- Three categories of risks:
- Known risks (uncovered after careful evaluation of the project plan and environment).
- Predictable risks (extrapolated from past project experience).
- Unpredictable risks (difficult to identify in advance).
Seven Principles of Risk Management
- Maintain a global perspective (view software risks within the context of a system and the business problem).
- Take a forward-looking view (think about risks that may arise in the future).
- Encourage open communication and integrate risk management into the software process.
- Develop a shared product vision and encourage teamwork when managing risk.
Risk Management
- Carried out to identify risks, reduce the impact of risk, and reduce the probability of risk.
- Steps for risk management include:
- Identify possible risks.
- Analyze each risk to estimate probability and impact.
- Rank the risks by probability and impact.
- Develop a contingency plan to manage high-probability and high-impact risks.
- Monitor and update risk management activities.
Test your knowledge on different types of software risks, including internal and external risks that project managers may encounter. Learn about management risk, budget risk, and the challenges of incorporating uncertainties in project plans.
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