Software Project Management · Unit 6
Risk Management
Exam-focused notes for Risk Management (Software Project Management, BIT402): what the TU syllabus asks and how it has actually been tested, with 4 solved past questions from this unit.
What this unit covers
- Risk categories and classification
- Risk items and identification
- Risk assessment process
- Risk exposure value
- Risk handling approaches
Risk categories and classification
What are different categories of risk? Explain.[10]
Risk in project management and business contexts can be categorized in several ways. Technical risks arise from uncertainties in technology, tools, and development approaches: - Unfamiliar or unproven technologies - Integration challenges between systems - ...
Full solved answer →Risk assessment process
How risk assessment is carried out? Explain with an example. [5]
Risk assessment is a systematic process to identify, analyze, and evaluate potential risks that could affect a project or system. The process typically follows these steps: - Identify all potential risks that could occur during the project lifecycle - Use t...
Full solved answer →Risk handling approaches
Explain different approaches that can be used to handle risk. [5]
Risk handling (or risk response) involves taking action to address identified risks. The main approaches are: - Eliminate the risk by avoiding the activity or condition that causes it - Change project scope, requirements, or approach to remove the risk enti...
Full solved answer →Risk exposure value
List different risk items. How can the risk exposure value help in handling risk? [5]
Risk items in software project management can be categorized as follows: - Inadequate technology or tools - Unproven or unfamiliar technology - Technical complexity and scalability issues - Integration challenges between components - Performance and reliabi...
Full solved answer →Make Unit 6 stick
Practice BIT402 with flashcards & quizzes