Software Risk is an expectation of loss, a potential problem that may or may not occur in the future. It is generally caused due to lack of information, control or time. RISK – Possible loss or problem (Specifically in S/W development process) MITIGATION – Efforts or Process to overcome the Risks or reduce the impact. (Comes after Avoidance Scenario) MONITORING – Check to ensure effective execution (Observation) MANAGEMENT – The subtle are of dealing with the risk and keep moving forward

1. RISK MITIGATION MONITORING
& MANAGEMENT (RMMM)
RISK ANALYSIS
Navjyotsinh Jadeja
www.edtechnology.in

2. What is RMMM
Software Risk is an expectation of loss, a potential problem that may
or may not occur in the future. It is generally caused due to lack of
information, control or time.
• RISK – Possible loss or problem (Specifically in S/W development process)
• MITIGATION – Efforts or Process to overcome the Risks or reduce the
impact. (Comes after Avoidance Scenario)
• MONITORING – Check to ensure effective execution (Observation)
• MANAGEMENT – The subtle are of dealing with the risk and keep moving
forward

3. RMMM Cont.
A software risk can be of two types
(a)internal risks (that are within the control of the project manager) &
(b)external risks (that are beyond the control of project manager )
Risk management is carried out to:
1. IDENTIFICATION OF RISK
2. REDUCE THE IMPACT
3. REDUCE THE REPETITION OR LIKELIHOOD
4. RISK MONITORING

4. RMMM Cont.
Software Project Risk Management comprises of following processes:
Risk identification Identify project, product and business risks;
Risk analysis Assess the likelihood and consequences of these
risks;
Risk planning Draw up plans to avoid or minimise the effects of
the risk;
Risk monitoring Monitor the risks throughout the project;

5. RISK MANAGEMENT PROCESS:

6. Programming way of Understanding
// RISK AVOIDANCE STATERGIES
If (RISK== Found)
{
• MITIGATE RISK
• MOTINOR RISK
}
Else // RISK IS UNAVOIDABLE
{
• RISK MANAGEMENT
}

7. Other Parameters to consider
As Risk analysis is very important aspect . While doing Risk Identification and Analysis, there are
several other parameters needs to be considered.
Those parameters are :
• Complexity of the problem (In technical Risks category)
• Impact of the Risk
• HIGH
• LOW
• MEDIUM
With impact we mean the consequence of a risk in case it happens

8. RISK CATEGORIES
SOFTWARE RISKs can be of several types. Here listed are the Broader categories of Risks
• PRODUCT RISK
• PROJECT RISK
• BUSINESS IMPACT RISK

9. USEFUL TOOLS FOR RISK MITIGATION
• Brain storming
• Bench marking
• Cause and Effect Diagram
• Pareto Analysis

10. For More questions
Website:
www.edtechnology.in
YouTube: EDTECHNOLOGY
https://www.youtube.com/channel/UCA
SRnU5JL7bcaQGM3ITTFqQ