TITLE

The Application of Risk Planning in Software Development Projects

AUTHOR(S)
McManus, John
PUB. DATE
September 2003
SOURCE
Management Services;Sep2003, Vol. 47 Issue 9, p16
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Most practicing project managers acknowledge the introduction of risk planning within the software development process as crucial. Risk planning highlights the fact that risk management activities need to be planned, budgeted and have adequate resources allotted to them. The article argues that risk management can no longer be viewed as something that distracts the project manager from the important task of being an effective manager. It is the core of the management activity and should be considered to be both tactical and strategic in nature. The objective of the risk planning process is to achieve the best possible balance and efficiency in managing risk. The adoption of risk management and its resulting success relies to a large degree on the use and subsequent enforcement of standards. The use of common risk management processes have several practical advantages namely, reducing the management overhead cost, increasing efficiency, exploiting knowledge and leveraging opportunities within the organization. The idea that risk imposes costs on an organization is central to much of the practical application within risk management. A prime aim of continuous improvement must be therefore to reduce the cost burden on the organization.
ACCESSION #
10948195

 

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