Software Project Management · Unit 4 · 4 hrs
Risk Management
Exam-focused notes for Risk Management (Software Project Management, CSC425): what the TU syllabus asks and how it has actually been tested, with 3 solved past questions from this unit.
What this unit covers
- Introduction
- Nature and identification of risk
- Risk analysis
- Evaluation of risk to the schedule using Z-values
Risk analysis
Explain the process of risk analysis. [5]
Risk analysis in project management is a sequence of processes to identify the factors that may affect a project's success. It is a pro-active process that helps to control possible future events that may harm the overall project. --- Risk analysis involves...
Full solved answer →What are the practical implications of Risk Exposure? [5]
Risk Exposure (RE) is a quantitative measure used in risk management that combines the probability of an unsatisfactory outcome with the magnitude of loss if that outcome occurs. Risk Exposure (RE) = Probability of Occurrence x Impact of Problem As stated i...
Full solved answer →Suppose you have been assigned to develop online voting system. List four risks that might affect the success of the system. Rank the risks based on Risk exposure. Develop contingency plan for the highest ranked risk.[10]
Based on the nature of risks (project risk, technical risk, and business risk) The following four risks are identified: Risk ID Risk Description Risk Type ------------------------------------- R1 Security Breach / Cyber Attack: Unauthorized access, hacking,...
Full solved answer →Make Unit 4 stick
Practice CSC425 with flashcards & quizzes