RMMM-Risk Management,Mitigation and Monitoring.

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Software Engineering, Roger Pressman.

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RMMM-Risk Management,Mitigation and Monitoring.

  1. 1. RMMM
  2. 2. • Effective strategy must consider 3 issues. – Risk avoidance – Risk monitoring – Risk management and planning Ex, High staff turnover. Impact on project cost and schedule.
  3. 3. MITIGATION • Project management must develop a strategy for reducing turnover. Among the possible steps to be taken are:
  4. 4. MONITOR • Factors can be monitored :
  5. 5. MANAGEMENT • Assumes mitigation efforts have failed. • If mitigation strategies has been followed, – Backup is available – Documentation is available – Knowledge has been dispersed across the team. • “get up to speed” • “knowledge transfer mode” • “commentary documents”
  6. 6. • RMMM increases both cost and schedule. – Ex, “backup” – Large project, 30-40 risks • Pareto 80-20 rule. • Risk may occur during maintenance.
  7. 7. RMMM plan • Documents all work performed as part of risk analysis. • Used by project manager as part of overall project plan • Risk Information Sheet(RIS) – Maintained using a database system. • Risk mitigation : – Achieved by developing a plan. • Primary objectives of monitoring are: – To assess whether predicted risks do, in fact, occur. – To ensure that risk aversion steps defined for the risk are being properly applied. – To collect information that can be used for future risk analysis.
  8. 8. • RIS contains the following information – – – – – – – Risk ID, Date, Probability & Impact Description Refinement/context Mitigation/monitoring Management/Contingency Plan/trigger Current Status Originator & Assigned (to whom) information

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