Software Risk Management: Principles and Practices

Software Risk Management: Principles and Practices

“Software Risk Management: Principles and Practices” by Barry.W.Bohem. This study provide the idea that how Software projects have failed. It also providingdetails on developing the software and identifying high risk elements and resolving those elements to make the project successful.

In this article of Barry. W Bohem he mainly focus on two processes.

1) The waterfall Model

2) Development Process Model

Waterfall Model is a model that has a sequential approach and the Development model is Code driven. It further describes how a project manager can became a successful project manager. To become a successful project manager Bohem has told that that person should use some tricks like Complex Software Mixtures, Prototyping, Simulation andetc. . In this article he describes about Risk Management,risk principles and practices.

Barry W. Boehm tries translate the Webster’s definition of ‘Risk’ with the fundamental concept of Risk Management.He comes with the relationship RE=P (UO) * L (UO).With this relationship, the multi-dimensional ‘Unsatisfactory Outcome’ emerges, given that projects involve real classes of participants.Bohem explains a fundamental paradigm called Decision Tree. He further emphasis that this sort of sensitivity analysis is a good framework for analyzing preferred solutions. In Risk Management practice, Bohem mentions that there are few steps you should follow.

First step is Risk Assesment. Under that topic he firstly talk about Risk Identification. Risk idenfification will produce a list of risks that will affect the project successs. Then next one is Risk Analysis. Risk analysis will measure the lost probability for each of the identified risks while risk Prioritization produces a ranked ordering of the identified risk items.

The second step is Risk Control. In this step he talk about three things. First one is Management Planning. This will help people to address each risk. The next one is Risk Resolution

Risk resolution phase you can eliminate or resolve the risk items. The last one of the Risk control step is Risk Monitoring. In this phase we can track the progress of project towards solving identified risk items.

Bohem briefly talks about four significant steps of Risk Management techniques: Risk Identification Checklists, Risk prioritization, Risk Management Planning and Risk Monitoring. In this phases he has described the important factors that affect the project success.in this article Bohem try to give the idea that Risk probability table plays a major role in the checklist where