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    Risk Management

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    Risk Management

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    Risk Management (1)

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    1 views9 pages

    Risk Management

    Uploaded by

    tumu.prasanth

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 9

    Risk Management

    in Software
    Development
    Ganga VenkataPrasanth Tumu
    Agenda

    • Risk Management
    • Types of Risk
    • Risk Management Lifecycle
    • Risk Management Tools
    • Benefits of Risk Management.
    • Conclusion
    Risk Management

    • Risk management in software development is the process of


    identifying, analyzing, prioritizing, and responding to
    potential risks that could impact the success of a software
    project.
    • The goal of risk management is to minimize the impact of
    negative risks and leverage opportunities to improve project
    outcomes, ensuring a higher likelihood of on-time, on-budget,
    and high-quality delivery.
    Types of Risk

    • Technical Risk: Challenges may arise from complex system


    integration or rapidly evolving technology.
    • Project Management Risk: Delays and cost overruns can
    occur due to resource constraints or scope creep.
    • External Risk: Changes in regulations or market demand
    can impact project goals and timelines.
    • Operational Risk: Miscommunication within teams can lead
    to error and project inefficiencies.
    Risk Management
    Lifecycle

    • Identify: Recognize and classify risks that


    could potentially affect the organization's
    objectives.
    • Assess: Analyze the organization's
    vulnerability to the identified risks and their
    potential impact.
    • Prioritize: Rank risks based on their
    significance and urgency to focus on the most
    critical ones.
    • Respond: Formulate and implement strategies
    to address risks, such as accepting, mitigating,
    avoiding, transferring, or leveraging them.
    • Monitor: Continuously track and report risk-
    related developments to organizational
    leadership.
    Risk Management Tools

    LogicManag
    ClickUp nTask RiskWatch
    er

    Risk
    Riskonnect Risk Matrix
    Register
    Benefits of Risk Management

    • Improved Project Outcomes: Ensures timely delivery, adherence to


    budget and high-quality outputs.
    • Enhanced Decision Making: Enables informed choices based on a clear
    understanding of risks.
    • Reduced Costs and Delays: Prevents expensive setbacks and project
    timeline extensions.
    • Better Resource Allocation: Helps focus resources on critical tasks and
    minimize waste.
    • Stakeholder Confidence: Boosts trust by demonstrating control over
    potential issues.
    Conclusion

    • Risk not always negative and it is an opportunity to develop


    our projects in a better way with good results.

    • A solid foundation in risk management can greatly enhance


    the ability to effectively tackle risks.
    Thank You

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