Page 213 - DCAP304_DCAP515_SOFTWARE_PROJECT_MANAGEMENT

Unit 10: Risk Management

 Many of the measures used to help them with this project management can also serve Notes
additional use in identifying and tracking risk.

 This unit used a common software risk, personnel shortfall, to show how managers can
use measures and metrics to help identify and track risk items.
 This technique can be applied to other common risk items, such as requirements changes
and unrealistic schedules and budgets, to help managers have visibility into and control
over their overall projects in addition to identifying and monitoring their risk items.

10.12 Keywords

QA: Quality Assurance

CM: Configuration Management
Risk: The possibility of suffering harm or loss; danger
COP: Congressional Oversight Panel

10.13 Review Questions

1. What is risk management? Examine the various components of risk management.

2. What do you think are the common uses of PERT technique?
3. What are categories of risk? Explain how “Risk are future uncertain events with a probability
of occurrence and a potential for loss.”
4. Make distinctions between operational and budget risk.
5. Risk management is the discipline of identifying, monitoring and limiting risks. Analyse.

6. Analyze the distinctive points between Risk Assessment and Risk Control.
7. What is Schedule Risk Assessment Plan? Explain how the plan typically consists of a series
of iterations and each iteration consists of work items that are scheduled to be completed
within an iteration.
8. Make an analysis and write a note on Schedule Risk and Technical Risk. Examine their
differences.
9. Risk, at the general level, involves two major elements: the occurrence probability of an
adverse event and the consequences of the event. Explain
10. Examine the impact of SWOT analysis on risk management.

Answers: Self Assessment

1. Risks 2. Visualized
3. Requirements 4. project management
5. Risk Strategy 6. accurately
7. False 8. True
9. insight 10. unplanned

11. time 12. Technical
13. PERT chart 14. Critical Path Method (CPM)
15. risk assessment

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