Risk Control

Software Engineering
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Risk Control

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Slide Content
  1. Risk Control

    Slide 1 - Risk Control

    • Emerson Murphy-Hill
  2. Risk Management Cycle

    Slide 2 - Risk Management Cycle

    • Identify
    • Analyze
    • Communicate
    • Prioritize
    • Plan
    • Mitigate
    • Monitor
    • Risk Assessment
    • Risk Control
  3. Risk Planning - I

    Slide 3 - Risk Planning - I

    • Information buying. Perceived risk can be reduced by obtaining more information through investigation.
    • For example, in a project in which the use of a new technology has created risk, the team can invest some money to learn about the technology.
    • Throw-away prototypes can be developed using the new technology to educate some of the staff on the new technology and to assess the fit of the new technology for the product.
    • Contingency plans. A contingency plan is a plan that describes what to do if certain risks materialize.
    • By planning ahead, you are prepared and have a strategy in place do deal with the issue.
  4. Risk Planning - II

    Slide 4 - Risk Planning - II

    • Risk reduction
    • For example, if the team is concerned that the use of a new programming language may cause a schedule delay, the budget might contain a line item entitled “potential schedule” to cover a potential schedule slip, reducing financial risk to the organization.
    • Alternately, the team can plan to employ inspections to reduce the risk of quality problems.
    • Risk acceptance
    • Sometimes the organization consciously chooses to live with the consequences of the risk (Hall, 1998) and the results of the potential loss. In this case, no action is planned.
  5. Risk Mitigation

    Slide 5 - Risk Mitigation

    • Develop strategies to reduce the possibility or the loss impact of a risk.
    • Documented in the Action column of the Risk Table
    • Risk avoidance.
    • a lose-lose strategy: the team can opt to eliminate the risk. Example: opting not to develop a product or a particularly risky feature.
    • Risk protection.
    • the organization can buy insurance to cover any financial loss should the risk become a reality.
    • a team can employ fault-tolerance strategies, such as parallel processors, to provide reliability insurance.
    • a lose-lose strategy: everyone gives something up, in the sense that neither side gets what they want, but everyone can live with the decision.
  6. Risk Mitigation

    Slide 6 - Risk Mitigation

    • Develop strategies to reduce the possibility or the loss impact of a risk.
    • Documented in the Action column of the Risk Table
    • Rank
    • Risk
    • Probability
    • Impact
    • Rank Last Week/ Weeks on List
    • Action
    • 1
    • Delay on toolkit
    • 50%
    • 3
    • 3/10
    • Status Meetings
    • 2
    • Requirements Change
    • 40%
    • 2
    • 1/12
    • Bi-weekly deliverables.
    • 3
    • Lose Team Member
    • 5%
    • 4
    • 8/12
    • Pairing
  7. Risk Monitoring

    Slide 7 - Risk Monitoring

    • Monitor progress and “Top 10”
    • Reevaluate Risk Exposure
    • Re-draw the line
  8. Risk Management Cycle

    Slide 8 - Risk Management Cycle

    • Identify
    • Analyze
    • Communicate
    • Prioritize
    • Plan
    • Mitigate
    • Monitor
    • Risk Assessment
    • Risk Control
    • Be proactive, not reactive.