necessary to have systematic and structured approaches for the development of these complex systems. Many Software engineers have attempted to provide the methodologies that are systematic and well structured that are lack in software development projects. Even though the projects are well guided, they still related with many different high risks. These risks will affect the growth of a software development projects in numerous ways like exceeding the allocated budget, missing the deadline of a project, time of accomplishment and more importantly not meeting the requirement of the product. . Although risk taking is an essential to progress, and failure in it is key part of learning, it is not the that risks are unavoidable, just it is the inability to recognize and manage risks to reduce the negative consequences the software project have to face. So a process called risk management process should be present which can minimize the risks and can help in creating a new and better software. Moreover this risk management process is particularly difficult for large software projects and it cannot be handled in the same way as for small projects or by providing more resources for all development factors. PURPOSE This paper tries to give a overview how a risk is identified and what is the procedure to be followed for identifying a risk, assessing it and number of mitigation techniques to be used to reduce the negative consequences or completely removing the risk with the use of available managerial resources software projects can be managed efficiently in order to avoid risk and can obtain the desired outcome which meets the requirements . This paper illustrates the complexities of software development and discusses software engineering methods, techniques, notations for identification and managing of risks that occurs in software development projects. Many risk analysis and risk management methods have been developed in order to reduce the affects of the risks to the various organizations This study will systemize structure and discuss strengths and weaknesses of the risk management process in any organization. 2 Risk in Software Engineering A software risk denotes a particular aspect of a development task, process, or environment, which, if ignored will increase the likelihood of project failure . The degree of risk is assessed either in quantitative terms as the probability of unsatisfactory events multiplied by the loss associated with their outcome, or in qualitative terms by referring to the uncertainty surrounding the project and the magnitude of potential loss associated with project failure.
necessary to have systematic and structured approaches for the development of these complex systems. Many Software engineers have attempted to provide the methodologies that are systematic and well structured that are lack in software development projects. Even though the projects are well guided, they still related with many different high risks. These risks will affect the growth of a software development projects in numerous ways like exceeding the allocated budget, missing the deadline of a project, time of accomplishment and more importantly not meeting the requirement of the product. . Although risk taking is an essential to progress, and failure in it is key part of learning, it is not the that risks are unavoidable, just it is the inability to recognize and manage risks to reduce the negative consequences the software project have to face. So a process called risk management process should be present which can minimize the risks and can help in creating a new and better software. Moreover this risk management process is particularly difficult for large software projects and it cannot be handled in the same way as for small projects or by providing more resources for all development factors. PURPOSE This paper tries to give a overview how a risk is identified and what is the procedure to be followed for identifying a risk, assessing it and number of mitigation techniques to be used to reduce the negative consequences or completely removing the risk with the use of available managerial resources software projects can be managed efficiently in order to avoid risk and can obtain the desired outcome which meets the requirements . This paper illustrates the complexities of software development and discusses software engineering methods, techniques, notations for identification and managing of risks that occurs in software development projects. Many risk analysis and risk management methods have been developed in order to reduce the affects of the risks to the various organizations This study will systemize structure and discuss strengths and weaknesses of the risk management process in any organization. 2 Risk in Software Engineering A software risk denotes a particular aspect of a development task, process, or environment, which, if ignored will increase the likelihood of project failure . The degree of risk is assessed either in quantitative terms as the probability of unsatisfactory events multiplied by the loss associated with their outcome, or in qualitative terms by referring to the uncertainty surrounding the project and the magnitude of potential loss associated with project failure.
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