Project Management

1. What is Risk?
---Risk is the probability that a hazard will turn into a disaster. Vulnerability and hazards are not dangerous, taken separately. But if they come together, they become a risk or, in other words, the probability that a disaster will
happen. Nevertheless, risks can be reduced or managed. If we are careful about how we treat the environment, and if we are aware of our weaknesses and vulnerabilities to existing hazards, then we can take measures to make sure that
hazards do not turn into disasters.

---Risk is defined as "The possibility of suffering harm or loss; danger." Even if we're not familiar with the formal definition, most of us have an innate sense of risk. We are aware of the potential dangers that permeate even simple daily activities, from getting injured when crossing the street to having a heart attack because our cholesterol level is too high. Although we prefer not to dwell on the myriad of hazards that surround us, these risks shape many of our behaviors. Experience (or a parent) has taught us to look both ways before stepping off the curb and most of us at least think twice before ordering a steak. Indeed, we manage personal risks every day.


2. Identify atleat 5 software risk. Discuss each.
Staff Turnover =This software risk can affect the production of the project because after few months all the original programmers have left for more interesting projects or there would be more interesting companies to work with.

Schedule Slips=When the delivery date comes, we have to tell the customer that the software isn't ready as yet and that it may take some more time.

Project Canceled=The customer decides that it would be better to cancel the project

• After numerous schedule slips, he loses confidence that the project can ever be completed.
  
• The Business process changes, which leaves the software incapable of solving the new business problems.

System Goes Sour=The system does go into production (so far so good), but the defect rate or the cost of making changes is so high that the customer looks for other alternatives.

False Feature Rich=The system has great features. Unfortunately these are not the features that the customer finds useful, rather these are the features that the programmer thinks are great features (usually something challenging to accomplish but without any great business value).

Programming For The Future=The system is developed to accommodate features that might be requested by the client at a later stage. Also when the client actually requests the feature (if at all) that we developed, technological changes may have made it cheaper to implement. This leads to greater initial costs.

Frustrated Programmers=Often software development schedules are fixed by the marketing persons in consultation with the client and the schedule is handed over to the programmers to get done. "Ok, guys get this project up and running, you have four weeks to accomplish this". The problem is not that the programmers were not consulted; the problem is that the estimate is not evenly remotely realistic. Often the estimate is as realistic as Clinton's truthfulness or Iraq's WMD. Being asked to meet such unrealistic schedules lead to frustrated programmers, and frustrated programmer don't write great code.

3. Identify risk management strategies.