Managing the Risks: An Evaluation of Risk Management Processes
In this paper different risk management processes will be studied and their evaluation against the IEEE standard for risk management will be presented to highlight their strengths and weaknesses.
Abstract
An effective project management is critical while developing software systems. Software development often involves the use of new technology, challenging requirements, and tight schedules or budgets, all making it particularly prone to several types of risks. This paper will represent the need of effective risk management process in development of different projects with a focus on its importance in software systems. In this paper different risk management processes will be studied and their evaluation against the IEEE standard for risk management will be presented to highlight their strengths and weaknesses.