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What is risk management?

o Risk management is to identify, address, and eliminate sources of


risk before they become threats to successful completion of a
software project.
What are the different types of risk management?
1 Crisis Management: Firefighting; address risks only after they
have become problems.
2 Fix on Failure: Detect and react to risks quickly, but only after
they have occurred.
3 Risk Mitigation: Plan ahead of time to provide resources to cover
risks if they occur, but do nothing to eliminate them in the first
place.
4 Prevention: Implement and execute plan as a part to the software
project to identify risks and prevent them from becoming problems.
5 Elimination of Root Causes: Identify and eliminate factors that
make it possible for risks to exist at all.

Briefly explain the purposes of customer-oriented practices categories in


Rapid-Development.
1. Planning: customer-oriented practices help you build customer
satisfaction into your project.
2. Requirements analysis: customer-oriented practices help you to
understand the real requirements and avoid rework.
3. Design: customer-oriented practices help you build in the flexibility
needed to respond quickly to customer-generated change requests.
4. Construction: customer-oriented practices help to keep the
customer confident about your progress.
Overly optimistic schedules can cause numerous problems in software
development. Explain FIVE (5) different types of root causes of overly
optimistic schedules.
1. There is an external, immovable deadline such as the date of a
computer trade show, change in tax laws, or Christmas shopping
season.
2. Managers or customers refuse to accept a range of estimates and
make plans based on a single-point "best case" estimate.
3. Managers and developers Purposely underestimate the project
because they want a challenge or like working under pressure.
4. The project is purposely underestimated by management or sales in
order to submit a winning bid.
5. Developers underestimate an interesting project in order to get
funding to work on it.

Selecting correct staff for the job would definitely save time and cost for a
project. However, if selecting unsuitable staff for the job, there occur lots
of mistakes and problems related to the project. Identify such TEN (10)
possible mistakes that are related to people.
1. Undermined motivation
2. Weak personnel
3. Heroics
4. Adding people to a late project
5. Noisy, crowded offices
6. Friction between developers and customers
7. Unrealistic expectations
8. Lack of stakeholder buy-in
9. Lack of user input
10.Wishful thinking

There are several types of common schedule risks in a project. List down
any FIVE (5) types of Common Schedules Risks.
1.
2.
3.
4.
5.

Feature creep
Shortchanged quality
Overly optimistic schedules
Inadequate design
Contractor failure

List FIVE (5) practices related to customer-oriented practices that are


deemed important on Rapid Development Project.
1. Good relations with customers improve actual development
2. Good relations with customers improve perceived development
speed.
3. Improve efficiency
4. Less rework
5. Reduced risk
6. Lack of Friction