The document outlines the key aspects of risk management including the objectives, strategies, and processes. It defines risk as the possibility of suffering loss and uncertainty. There are reactive and proactive risk strategies, with the proactive strategy identifying potential risks early in a project. The objectives of risk management are to identify software risks, apply proactive strategies, enhance software success, and mitigate economic fluctuations. The risk management process involves assessing risks through identification and analysis, prioritizing risks, planning controls, resolving issues, and ongoing monitoring.

1. RISK MANAGEMENT

2. TABLE OF CONTENT
• Introduction
• Risk Strategy
• Objective
• Risk management process

3. INTRODUCTION
• According to Webster-”Risk is possibility of
suffering from loss.”
• Risk has two characteristics:
i. Loss
ii. Uncertainty

4. STRATEGIES OF RISK
• Reactive Risk Strategies
A reactive risk strategy monitors the project for likely risks.
Resources are set aside to deal with them, should they
become actual problem.
• Proactive Risk Strategies
A proactive risk strategy begins long before technical work
is initiated. Potential risks are identified, their probability
and impact are assessed, and they are ranked by
importance.

5. OBJECTIVES
• Identify software risk
• Apply proactive strategy
• Enhance software success
• To mitigate fluctuations in the economic value

6. WHAT IS RISK MANAGEMENT
• It is the process of identifying ,addressing and
eliminating the problems before they can
damage the project.
• Moreover, it is the process of finding risk to
control those risk.

7. Risk management process

8. RISK ASSESSMENT
• Risk identification:
It is the process of identifying the threats in the project
plan.
• Risk analysis:
Its purpose is to assess the loss probability and magnitude
of each risk item.
• Risk prioritization:
It helps the project to focus at most severe risk.

9. RISK CONTROL
• Risk management planning:
It produce a plan for dealing with the risk including
risk avoidance, mitigation of risk.
• Risk resolution:
It is execution of plans for dealing with the risk.
• Risk monitoring:
It is the process of monitoring to control risk.

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