Risk Management

Risk encounter during the development of "Online Business Directory of Lucena City"

• Be short in time
• Not enough skill
• Resources of the project

Risk Management is an integral part of developing and executing a particular project. Effective implementation of risk management promotes best practice concepts at strategic level as well as a means of improving operational activities. A structured and proactive approach to risk management should form a core pat of the decision-making process at all levels within an organization, thus improving the ability to control negative consequence and exploit opportunities for growth and success. Its purpose is to generate ideas and promote good practice for those involved in the business of managing risk. All too often assessments of risk are crudely made and the consequences of getting things wrong can be serious, including lost opportunities, loss business, loss of reputation and even life.

Risk Management Solution

• Capture and communicate all relevant risk effectively
• Ensure appropriate and timely follow up
• Improve managerial control with up-to-date reporting.

Example of Risk

1. Personnel Shortfalls
2. Unrealistic schedule/budgets
3. Developing the wrong software functions
4. Developing the wrong user interface
5. Gold plating
6. Continuing stream of requirements changes
7. Shortfalls in externally furnished components
8. Shortfalls in externally performed tasks
9. Real-time performance shortfall
10. Straining computer science capabilities

Risk Mitigation Plan

1. Personnel shortfall

• use top talent
• team building
• training

2. Unrealistic schedules/budgets

• multi source estimation
• designing to cost
• requirement scrubbing

3. Developing the wrong software function

• better requirements analysis
• organizational/operational analysis

4. Developing the wrong user in interface

• prototypes, scenarios, task analysis

5. Gold plating

• requirements scrubbing
• cost benefit analysis
• designing to cost

6. Continuing stream of requirements changes

• high change threshold
• information hiding
• incremental development

7. Shortfalls in externally furnished components

• early benchmarking
• inspection, compatibility analalyss

8. Shortfalls in externally performed task

• pre-award audits
• competitive design

9. Real-time performance shortfalls

• targeted analysis
• simulation, benchmark, models

10. Straining computer science capabilities

• technical analysis
• checking scientific literature