Identifying and Managing Risk
Lawrence Bernstein, Christine M. Yuhas · 2005
The hallmark of successful projects is the ability to identify risks and develop contingency plans to deal with them. Reviews of failed projects typically find that problems would not have become crises if there had been a systematic review of high-risk areas at the start of a project and, more importantly, throughout the life of the project. At the start of each task, circumstances that may prevent the accomplishment of the task, called an event, need to be identified. Every event needs a corresponding risk containment and contingency plan. Undesirable Events Risk Management Paradigm Functions of Risk Management Risk Analysis Calculating Risk Using Risk Assessment in Project Development: The Spiral Method Containing Risks Incomplete and Fuzzy Requirements Schedule Too Short Not Enough Staff Morale of Key Staff Is Poor Stakeholders Are Losing Interest Untrustworthy Design Feature Set Is Not Economically Viable Feature Set Is Too Large Technology Is Immature Late Planned Deliveries of Hardware and Operating System Manage the Cost Risk to Avoid Outsourcing Technology Selection Tools Software Manufacturing Integration, Reliability and Stress Testing Computer Facilities Human Interaction Design and Documentation Software Project Management Audits Running an Audit Risks with Risk Management Additional Problems