Chapter 41

Question 1

What is in Risk Identification

Answer 1

– Identifying risks that may occur on a particular project
– Determining which risks might affect the project
– Documenting their characteristics

Question 2

Does risk identification iterative process

Answer 2

Yes

Question 3

Does The Risk Identification process usually leads to the Qualitative Risk Analysis process.

Answer 3

Yes

Question 4

Please mention risk item checklist

Answer 4

a) Product size-risks associated with the overall size of the software to be built or modified.
b) Business impact-risks associated with constraints imposed by management or the marketplace.
c) Customer characteristics-risks associated with the sophistication of the customer and the developer’s ability to communicate with the customer in a timely manner.
d) Process definition-risks associated with the degree to which the software process has been defined and is followed by the development organization.
e) Development environment-risks associated with the availability and quality of the tools to be used to build the product.
f) Technology to be built-risks associated with the complexity of the system to be built and the newness of the technology that is packaged by the system.
g) Staff size and experience-risks associated with the overall technical and project experience of the software engineers who will do the work.

Question 5

What is risk identification

Answer 5

Risk identification is a systematic attempt to specify threats to the project plan

Question 6

What are 2 types of risks

Answer 6

1. generic risks

2. product-specific risks

Question 7

What are generic risks

Answer 7

Generic risks are a potential threat to every software project.

Question 8

What is product-specific risks

Answer 8

Product-specific risks can be identified only by those with a clear understanding of the technology, the people, and the environment that is specific to the project at hand. This risk is any project/product specific

Question 9

What are 2 characteristics of risk

Answer 9

1. Uncertainty

2. Loss

Question 10

What is risk mitigation

Answer 10

Risk mitigation is the best possible approach adopted by the project manager to avoid risks from occurring.

Question 11

What are three possibilities of risk mitigation

Answer 11

1. Risk avoidance
2. Risk monitoring
3. Contingency planning

Question 12

What is Risk Avoidance

Answer 12

To avoid risks from occurring, the project team prepares the risk plan before the commencement of the project. The project team identifies the potential risks and prioritizes them based on their probability of occurrence and impact.

Question 13

What is risk management plan

Answer 13

The plan for Risk Avoidance. This plan is modified throughout the software development life cycle of the project based on the changes taking place.

Question 14

What is Contingency Planning

Answer 14

Contingency planning involves maintaining an alternative plan if the original plan fails.

Question 15

What are 4 risk components defined by US air force

Answer 15

a) Performance risk - the degree of uncertainty that the product will meet its requirements and be fit for its intended use.
b) Cost risk - the degree of uncertainty that the project budget will be maintained.
c) Support risk - the degree of uncertainty that the resultant software will be easy to correct, adapt, and enhance.
d) Schedule risk - the degree of uncertainty that the project schedule will be maintained and that the product will be delivered on time.

Question 16

What are 4 risk drivers that impact on risk component

Answer 16

negligible, marginal, critical, or catastrophic.

Question 17

What is Catastrophic risk driver

Answer 17

Failure to meet the requirement would result in mission failure

Question 18

What is Critical risk driver

Answer 18

Failure to meet the requirement would degrade system performance to a point where mission success is questionable

Question 19

What is Marginal risk driver

Answer 19

Failure to meet the requirement would result in degradation of secondary mission

Question 20

What is Negligible driver

Answer 20

Failure to meet the requirement would create inconvenience or non operational impact

Question 21

What is risk table

Answer 21

A risk table provides a project manager with a simple technique for risk projection

Question 22

What is Reactive risk strategy

Answer 22

Reactive strategies have been laughingly called the “Indiana Jones School of risk management”

Question 23

What is fire fighting mode

Answer 23

the software team does nothing about risks until something goes wrong. Then, the team flies into action in an attempt to correct the problem rapidly. This is often called a fire fighting mode.

Question 24

What is proactive risk strategy

Answer 24

A proactive strategy begins long before technical work is initiated.

Question 25

What is pareto 80 20 rule

Answer 25

Experience indicates that 80 percent of the overall project risk (i.e., 80 percent of the potential for project failure) can be accounted for by only 20 percent of the identified risks.