Impact of Risk Management in Application Development
Nowadays, software is becoming a major part of enterprise business. Software development is activity connected with advanced technology and high level of knowledge. Risks on software development projects must be successfully mitigated to produce successful software systems. Lack of a defined approach to risk management is one of the common causes for project failures. To improve project chances for success, this work investigates common risk impact areas to perceive a foundation that can be used to define a common approach to software risk management. Based on typical risk impact areas on software ...view middle of the document...
Every software development project faces a significant amount of uncertainty that is usually manifested as possible risk materialization The success of a software development project is directly connected with the involved risk, i.e. project risks should be successfully mitigated in order to finish a software development project. The conditions on today’s global software market demand the most advanced software solutions from enterprises in order to be comparable and competitive. Development of an advanced software solution in the shortest possible time is a process associated with an extremely high number of risk impacts.
Every aspect of a software development project could be influenced by risks that could cause project failure. It is common to say that risk is the price of opportunity, i.e. a project with a high number of risks has an opportunity on the global software market if the project is completed on time and within planned expenses.
This paper is organized as follows: After this introduction, an overview of the risks in software development is given. The third section deals with the risk management on software development projects. The fourth section presents strategies for risk management proposed in this work. Conclusions are given at the end.
Risks in Software Development
Software solutions have become extremely complex, and the complexity of software solutions is growing everyday. The global market requires software with new features and capabilities developed in small time frames. Conditions on the global software market demand new levels of usability, quality, reliability, and performance from software solutions. The only chance for enterprises to survive on such a market is to build software that is better than the competition, in the shortest possible time. Building quality software in the terms defined by the conditions from the global software market is fundamentally hard and connected with a high level of risk. Risks are present in every aspect of software development.
A risk can be defined as a consideration that has some degree of probability of compromising the success of a software development project. Formally, risk can be described as project variables that designate project success. Risk defines the probability that the software development project will experience unwanted and inadmissible events, such as termination, delays in project schedule and overrun of project resources. For most software development projects, we can define five main risk impact areas:
1. Use of new and unproven technologies
2. Software system requirements
3. Software system architecture
4. Software system performance
5. Organizational and non-functional area.
1. Use of New And Unproven Technologies:
The majority of software development projects is connected with the application of new technologies. The improper use...