WHAT IS RISK?
1.
Risk is a concept that denotes the precise probability of specific eventualities. Risk can be defined as “the threat or probability that an action or event will adversely or beneficially affect an organisation's ability to achieve its objectives. In simple terms risk is ‘Uncertainty of Outcome’, either from pursuing a future positive opportunity, or an existing negative threat in trying to achieve a current objective.
IDENTIFY AT LEAST 5 SOFTWARE RISK: DISCUSS EACH
2.
a.) Staff Turnover: This kind of software can affect the success or failure of a project since in
this situation. the working staff leave before the project is finished, so we can just imagine the scenario when there is staff turnover, so the whole project and the management will be put in "hot water".
b.) The project itself: This kind of software risks include inadequate configuration control, cost overruns and poor quality. Poor quality means the software either does not work very well, or it fails in operation repeatedly. So this is problem once it is encounter.
c.) Commercial software risks: A finished project may have lower user satisfaction. Lower user satisfaction means the product has low quality, functions inadequately, and has complex structures. Users are also displeased by excessive utilization of disk space or other hardware components requirements by the software.
d.) Hardware Unavailability: A kind of sofware risk where the needed hardware specifically needed of a certain project is not available on a certain schedule that is set that it would be use.
e.) Configuring the Project: This simply means that the project might be in jeopardy once the congifure is mistaken and there will be a great need for the project to reconstruct it again.
IDENTIFY RISKS MANAGEMENT STRATEGIES
3.
Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events. In such cases, there are strategies or techniques as for to guide on how to deliberate certain risks.
1.
Risk is a concept that denotes the precise probability of specific eventualities. Risk can be defined as “the threat or probability that an action or event will adversely or beneficially affect an organisation's ability to achieve its objectives. In simple terms risk is ‘Uncertainty of Outcome’, either from pursuing a future positive opportunity, or an existing negative threat in trying to achieve a current objective.
IDENTIFY AT LEAST 5 SOFTWARE RISK: DISCUSS EACH
2.
a.) Staff Turnover: This kind of software can affect the success or failure of a project since in
this situation. the working staff leave before the project is finished, so we can just imagine the scenario when there is staff turnover, so the whole project and the management will be put in "hot water".
b.) The project itself: This kind of software risks include inadequate configuration control, cost overruns and poor quality. Poor quality means the software either does not work very well, or it fails in operation repeatedly. So this is problem once it is encounter.
c.) Commercial software risks: A finished project may have lower user satisfaction. Lower user satisfaction means the product has low quality, functions inadequately, and has complex structures. Users are also displeased by excessive utilization of disk space or other hardware components requirements by the software.
d.) Hardware Unavailability: A kind of sofware risk where the needed hardware specifically needed of a certain project is not available on a certain schedule that is set that it would be use.
e.) Configuring the Project: This simply means that the project might be in jeopardy once the congifure is mistaken and there will be a great need for the project to reconstruct it again.
IDENTIFY RISKS MANAGEMENT STRATEGIES
3.
Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events. In such cases, there are strategies or techniques as for to guide on how to deliberate certain risks.
- Identify, characterize, and assess threats.
- Assess the vulnerability of critical assets to specific threats.
- Determine the risk (i.e. the expected consequences of specific types of attacks on specific assets).
- Identify ways to reduce those risks.
- Prioritize risk reduction measures based on a strategy
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