Risk assessment is the process of identifying and analyzing potential risk areas. Risk identification can be made more explicit by listing common software project risk factors. Making a risk assessment form is a good way to identify risks. In the risk assessment form, we count the potential consequences of a specific risk on the project. The elements of the risk plan are:
The risk description is an introduction to the risk situation.
Likelihood of possible risk occurrence. Risk is not inevitable. If an event that is harmful to the project is bound to occur, then this event cannot be regarded as a risk. The identification of risk probabilities helps to focus greater attention on those risks with high probabilities.
Severity risk is the degree of harm to the project if it occurs.
Hazard value is an assessment of risk taking into account likelihood and severity, which reflects the degree to which the risk should be concerned.
Countermeasures are divided into two parts: one is to take preventive measures to prevent the occurrence of risks, and the other is to consider what measures need to be taken if the risks occur. These two aspects of the plan constitute a complete risk response.
Triggering a flag risk is a possibility, and the main starting point for developing a risk is to prevent it, but also to take into account what happens after the risk occurs. For the response strategy after the risk occurs, it is necessary to obtain a certain advance time to start the necessary work. The establishment of the trigger mark is to establish a discriminant mark. When the conditions indicated by the trigger mark are met, it means that the risk has become more and more likely. become a reality.
Risk responsible person Risk prevention and tracking need the participation of someone. It is an important principle to clarify the responsibility in the risk plan. For each risk listed in the line of sight, the person responsible for risk prevention and tracking should be designated.
The risk plan is not a static document, it should change as the status of the project changes. Therefore, in any project, risk management must be included in the project work plan as a daily formal activity and become an important work of project managers. Risk dynamics are explained in more detail in the next section, Risk Tracking.
When demarcating risk likelihoods and hazards, it is important to clearly indicate the relative importance of the risks, so it is important to adopt a concise labeling standard.