Risks in Software Project Management

Risks in Software Project Management

Following are the most common Risks identified in Software Project Management:

Unlike the hazards of daily living, the dangers in the young and emerging field of software engineering must often be learned without the benefit of lifelong exposure. A more deliberate approach is required. Such an approach involves studying the experiences of successful project managers as well as keeping up with the leading writers and thinkers in the field. One such writer in the area of risk is Dr. Barry W. Boehm. In his article "Software Risk Management: Principles and Practices" he lists the following top 10 software risk items:

1. Personnel Shortfalls
2. Unrealistic schedules and budgets
3. Developing the wrong functions and properties
4. Developing the wrong user interface
5. Gold-plating
6. Continuing stream of requirements changes
7. Shortfalls in externally furnished components
8. Shortfalls in externally performed tasks
9. Real-time performance shortfalls
10. Straining computer-science capabilities

How to Manage

Dr. Boehm, a well known Risk Management expert, describes risk management as being comprised of the following activities:

• Risk Assessment (figuring out what the risks are and what to focus on)
• - making a list of all of the potential dangers that will affect the project
• - assessing the probability of occurrence and potential loss of each item listed
• - ranking the items (from most to least dangerous)
• Risk Control (doing something about them)
• - coming up with techniques and strategies to mitigate the highest ordered risks
• - implementing the strategies to resolve the high order risks factors
• - monitoring the effectiveness of the strategies and the changing levels of risk throughout the project