1. Aim: To Study risk involved for given case study and prepare risk table along with
RMMM (RMMM-Risk Management,Mitigation and Monitoring) plan.
2. Objectives: From this experiment, the student will be able to,
To identify risk & calculate risk probabilities along with qualitative risk impacts for software under development.
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3. Outcomes: The learner will be able,
To understand differen trisk in Software development and calculate its exposure
To analyze the local and global impact of computing on individuals, organizations, and society.
4. Hardware / Software Required: Open source tool, text editor.
5. Theory:
The risk denotes the uncertainty that may occur in the choices due to past actions and risk is something which causes heavy losses.
Risk management refers to the process of making decisions based on an evaluation of the factors that threats to the business.
Various activities that are carried out for risk management are-
• Risk identification
• Risk projection
• Risk refinement
• Risk mitigation, monitoring and management
➢ Different types of risks:
1. Project risk:
Project risk arises in the software development process then they basically affect
budget, schedule, staffing, resources and requirements. When project risks become
severe then the total cost of project gets increased.
2. Technical risk:
These risks become reality then potential design implementation, interface,
verification, and maintenance problems get created. Technical risk occurs when
problem becomes harder to solve.
3. Business risk:
When feasibility of software product is in suspect then business risks occur. Business
risks can be further categorized as:
i) Market risk- When a quality software product is built but if there is no
customer for this product then it is called market risk.
ii) Strategic risk-When a product is built and if it is not following the
company’s business policies then such product brings strategic risk.
iii) Sales risk- When a product is built but how to sell is not clear then such a
situation brings sales risk.
iv) Management risk- When senior management or the responsible staff leaves
the organization then management risk occurs.
v) Budget risk-Losing the overall budget of the project is called budget risk.
6. Procedure:
Prepare Risk Table & RMMM plan Template for Risk table
➢ Template for Risk table:
No. Risk Category Probability Impact RMMM
1.
2.
3.
➢ Risk Table Construction
• List all risks in the first column of the table
• Classify each risk and enter the category label in column two
• Determine a probability for each risk and enter it into column three
• Enter the severity of each risk (negligible, marginal, critical, and catastrophic)
in column four.
➢ Template for RMMM Plan
7. Conclusion:
● From Risk table it will be helpful to define & assess for each project risk that can
threat to project
● Once RMMM plan has been documented & project has begun & risk mitigation
monitoring steps begin.
8. Viva Questions:
1. How to calculate Risk exposure?
2. What are different types of risk?
3. What are the components of Risk table?
9. References Books & Links:
1. agile.csc.ncsu.edu/Materials/RiskManagement.pdf
2. www.projectmanagementdocs.com › Project Planning
3. www.test-institute.org/What_Is_Software_Risk_And_Software_Risk_Manageme
nt
4. www2a.cdc.gov/…/templates/CDC_UP_Risk_Management_Plan_Template
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