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Milav Dabgar
Author
Milav Dabgar
Experienced lecturer in the electrical and electronic manufacturing industry. Skilled in Embedded Systems, Image Processing, Data Science, MATLAB, Python, STM32. Strong education professional with a Master’s degree in Communication Systems Engineering from L.D. College of Engineering - Ahmedabad.
Lecture 32: Risk Management - Risk Identification

Lecture 32: Risk Management - Risk Identification

Unit 4: Software Project Management (4353202)

Lecture Agenda

  • Recap of Sprint Burn Down Charts
  • What is Risk Management?
  • The Risk Management Process
  • What is Risk Identification?
  • Categories of Software Risks
  • Techniques for Risk Identification
  • The Risk Register
  • Key Takeaways

Recap of Sprint Burn Down Charts

Sprint Burn Down Charts visually track the remaining work in a sprint against time, helping agile teams monitor progress and identify deviations from the planned burn down.

What is Risk Management?

Risk Management is a systematic process of identifying, analyzing, planning responses to, and monitoring risks throughout the project lifecycle. Its goal is to minimize the potential negative impacts of risks on project objectives.

In software engineering, risks are potential problems that may affect the project's success, quality, or schedule.

The Risk Management Process

graph LR A[1. Risk Identification] --> B[2. Risk Analysis] B --> C[3. Risk Planning] C --> D[4. Risk Monitoring] D --> A

What is Risk Identification?

Risk Identification is the first step in the risk management process. It involves systematically discovering, recognizing, and describing potential risks that could affect the project.

The objective is to identify as many potential risks as possible, regardless of their likelihood or impact, to ensure they can be further analyzed and managed.

Categories of Software Risks

  • Project Risks: Threaten the project plan (e.g., schedule delays, budget overruns, resource shortages).
  • Technical Risks: Threaten the quality and timeliness of the software (e.g., new technology challenges, integration issues, performance problems).
  • Business Risks: Threaten the viability of the software or the project (e.g., market changes, competition, loss of funding).
  • External Risks: Beyond the control of the project team (e.g., regulatory changes, natural disasters, vendor issues).

Techniques for Risk Identification

  • Brainstorming: Team members collectively identify potential risks.
  • Checklists: Using predefined lists of common risks from past projects or industry standards.
  • Interviews: Discussing potential risks with stakeholders, experts, and team members.
  • SWOT Analysis: Analyzing Strengths, Weaknesses, Opportunities, and Threats to identify internal and external risks.
  • Root Cause Analysis: Investigating past problems to identify underlying causes that could lead to future risks.
  • Delphi Technique: A structured method for reaching a consensus among experts on potential risks.

The Risk Register

A Risk Register is a document that records all identified risks and their attributes. It is a key output of the risk identification process and is continuously updated throughout the project.

Typical Information in a Risk Register:

  • Risk ID and Description
  • Risk Category (e.g., Project, Technical)
  • Potential Causes
  • Potential Impact
  • Owner (person responsible for managing the risk)
  • Status (e.g., Open, Closed)

Key Takeaways

  • **Risk Management** is crucial for project success.
  • **Risk Identification** is the first step, aiming to find all potential problems.
  • Risks can be categorized as **Project, Technical, Business, or External**.
  • Techniques like **brainstorming and checklists** help in identification.
  • All identified risks are recorded in a **Risk Register**.

Next Lecture

Topic: Risk Management - Risk Assessment

Q & A

Questions & Discussion