SDI1 week6_2

05/03/2010

 
Risk Management

Risk: Common sense

ex. colour, Resource, HW/SW

 

Risk = probability * impact

Qualitative: Idea/Descriptive

Quantitative: Numerically

Prioritize risks

• To prioritize risks, you need to estimate the probability of its occurrence and its consequences when its dose occur
  
• The product of these values, the expected value of the loss for the risk, can be used for prioritization
• 
  
  
  
  This expected value is called risk exposure
  RE(R) = Prob (R) * Loss(R)

Managing a Risk Approaches

• preventive or avoidance actions
  
• Mitigation
• Transfer

Risk Identification

Def: process of understanding what potential events might hurt or enhance a particular project

Risk Identification Technique

• Brainstorming
  
• The Delphi Technique
• Interviewing
• 
  
  
  
  SWOT analysis