tailieunhanh - Lecture Software engineering II: Chapter 9 - Dr. Muzafar Khan

This lecture presents key concepts related to project riskmanagement. Risk management is the art as well as science and it is a frequently overlooked and underestimated aspect of project management. If it is done, significant improvement can be achieved to meet project objectives. Good risk management often goes unnoticed as it avoids the unlikely events to occur and precautionary measures are taken for the same. | Project Risk Management SEII-Lecture 9 Dr. Muzafar Khan Assistant Professor Department of Computer Science CIIT, Islamabad. 1 Recap Project quality management Planning quality Performing quality assurance Performing quality control Project communication management Identifying stakeholders Planning communications Distributing information Managing stakeholder expectations Reporting performance 2 Importance [1/2] Risk management is the art and science A frequently overlooked and underestimated aspect Significant improvement can be achieved to meet project objectives Often goes unnoticed Study conducted with 38 organizations Engineering and construction, telecommunications, information systems/software development, high-tech manufacturing Maturity level in different knowledge areas Lowest maturity level in risk management 3 Importance[2/2] KLCI Study with 260 software organizations in 2001 4 Figure source: IT Project Management, K. Schwalbe, 6th ed., p. 424 Basic Concepts [1/2] Risk “the possibility of loss or injury” Negativity is associated and uncertainty is involved Negative VS positive risks Negative risk management To lessen the impact of potentially adverse events Positive risk management Investing in opportunities Risk management is an investment 5 Basic Concepts [2/2] Risk utility / tolerance The amount of satisfaction / pleasure received from a potential payoff Risk averse Lower tolerance for the risk Risk seeking Higher tolerance for the risk Risk neutral A balanced approach Known and unknown risks Residual and secondary risks 6 Risk Tolerance 7 Figure source: IT Project Management, K. Schwalbe, 6th ed., p. 427 Main Processes Planning risk management Identifying risks Performing qualitative risk analysis Performing quantitative risk analysis Planning risk responses Monitoring and controlling risk 8 Planning Risk Management How to approach and plan for risk management activities Main output: risk management plan Planning meetings at early stage of project . | Project Risk Management SEII-Lecture 9 Dr. Muzafar Khan Assistant Professor Department of Computer Science CIIT, Islamabad. 1 Recap Project quality management Planning quality Performing quality assurance Performing quality control Project communication management Identifying stakeholders Planning communications Distributing information Managing stakeholder expectations Reporting performance 2 Importance [1/2] Risk management is the art and science A frequently overlooked and underestimated aspect Significant improvement can be achieved to meet project objectives Often goes unnoticed Study conducted with 38 organizations Engineering and construction, telecommunications, information systems/software development, high-tech manufacturing Maturity level in different knowledge areas Lowest maturity level in risk management 3 Importance[2/2] KLCI Study with 260 software organizations in 2001 4 Figure source: IT Project Management, K. Schwalbe, 6th ed., p. 424 Basic Concepts [1/2] Risk “the

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