Page 195 - DCAP304_DCAP515_SOFTWARE_PROJECT_MANAGEMENT

Unit 10: Risk Management

10.3 Risk Management Plans Notes

The Risk Management Plan (RMP) presents the process for implementing proactive risk
management as part of overall project management. The RMP describes techniques for identifying,
analyzing, prioritizing & tracking risks; developing risk-handling methods; & planning for
adequate resources to handle each risk, should they occur. The RMP also assigns specific risk
management responsibilities & describes the documenting, monitoring & reporting processes
to be followed.

Risk Management Plan defines how risks will be managed during the life cycle of the program.
It is used to plan the way risks are handled within the program. The Risk Strategy and supporting
Plan must acknowledge actual and potential threats to the successful delivery of a project and
determines the activities required to minimize or eliminate them. The risk plan needs to be
capable of integration into or coordination with the project plan.

Self Assessment

Fill in the blanks:
1. ……………….. can come from accidents, natural causes and disasters as well as deliberate
attacks from an adversary.
2. Risk analysis is essentially a “what if” analysis where various scenarios are ………………….

3. The lack of well defined objectives, …………………….., and specifications, or
unconstrained requirements growth during the software development life cycle.
4. The Risk Management Plan (RMP) presents the process for implementing proactive risk
management as part of overall ………………………...
5. The ……………………. and supporting Plan must acknowledge actual and potential threats
to the successful delivery of a project and determines the activities required to minimize
or eliminate them.

6. The problem stems from an inability to ………………………. assess risks associated with
various software development projects.

10.4 Why is Risk Management Important?

Risk exists in everything that we do. It is only through the effective management of risk that we
can be assured that we are doing our reasonable best to manage ourselves so as to protect
patients, staff, the public and other stakeholders against risks of all kinds. It can also help us to
meet our objectives and improve performance by contributing to:
 Increased certainty and fewer surprises

 Better service delivery
 More effective management of change
 More efficient use of resources
 Better management at all levels through improved decision making
 Innovation

 Improved working environment
 Patient/Staff safety

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