Risk+Management

= =  **INTRODUCTION**  Identify Risk

Elaine Hall wrote that,



This statement is very true in software engineering. Risks co-exist with all projects. All projects involve risks; risk assessment and risk management are intended to address them. Just because a project involves a lot of risks does not mean that the programmers or the people involved are bad at their jobs. It just means that they have to find ways to address and manage all of the risks.

= What is Risk Management? =

To answer the first question we must first ask ourselves, what is risk? Risk is the probability of suffering loss. This loss can be anything from money, time, resources, etc.

Risk management is a program management tool for handling events that might adversely impact a program, thereby increasing the likelihood of success. Risk management is a tool that will:



= Why Use it? =

Risk management can be thought of as a mean to manage uncertainty throughout the entire life cycle of a project. It is focused on potential threats and their impacts rather than on current project performance or occurring events. Risk management addresses the factors that have the potential to impact a project. This enables management to plan and implement tactical actions before a problem occurs. In today's competitive environment, risk management is required for the success of all projects.



** INTRODUCTION ** Identify Risk