Possible Risks and their Impacts on Software Projects
Discuss three possible risks that may arise on software projects.
Determine what would be their impact and how can they be addressed
Possible Risks and their Impacts on Software Projects
Elad Shalom,
CTO at ITweetLive.com
Possible Risks and their Impacts on Software Projects
Risks are uncertain events of the future with a probability
for occurrence and a potential for loss. For software projects, risk
identification and management are primary concerns. Proper analysis of these
risks will help in effectively planning and assigning work for the project.
One of the major reasons for project failures is the
presence of multiple risks in the software project environment. Software
projects are a collection of larger programs that have several dependencies and
interactions. The projects involve creating something that has not been
previously done, even though the developmental process may be similar to some
other projects. Therefore, software developmental projects have a variety of
quality and usability problems, amongst others (Kwak & Stoddard 2004). It
has been found that the different kinds of risks will affect user
satisfactions, system performance, and budget (Jiang and Klein 1999).
Project managers require good tools to assess and manage
these software project risks, in order to reduce the increasing rate of failure
of software projects (Wallace, Keil, and Rai 2004). It has been suggested that
software project managers must identify and control these risk factors to
decrease the chances of failure (Karolak 1996).
There are several types of risks that may arise in software
projects.
Here we look at three possible risks:
The Schedule Risk is
a very complicating factor because it is not easy to estimate schedules
accurately and consistently (Abdel, Sengupta, & Swett 1999). Generally,
organizations begin with a large project without properly comprehending its
size and complexity. This is a huge risk which leads to problems in correctly
scheduling the project. However, performance with scheduling risk gets better
with project experience (Ropponen and Lyytinen 2000). The most significant
impacts of schedule risks or slipped schedules are usually changed scope,
compromised quality, and increased project cost. Those companies that focus on
time-to-market are most severely affected by this type of risk. Being behind on
a market window by even a week or a month can disrupt profitability and
demolish the market share. For a small company even a single missed opportunity
could result in shut down, and for larger companies it could have negative long
term consequences. Schedule risks can also impact the internal functions of
companies by decreasing the turnover. All these problems can be avoided by
keeping the project schedules on track and ultimately lowering project risks
(Angotti & Greenstein 1999).
Requirement Inflation
is another significant risk factor for software projects. As the projects
progresses further, several features come up which were not recognized at the
start of the assignment. This generally happens because it is difficult and
time consuming to gather and record all the necessary details from prospective
users. The result is that project team does not know what the requirements of
successfully completing the project are (Martin et all. 1994). This raises the
possibility a system that cannot be used because the system analysis to build
an accurate and complete set of requirements has not been done (Addison &
Vallabh 2000).
People Risk arises
from inadequate managerial and technical skills (McLeod & Smith 1996). The
project personnel may not possess the required knowledge about the business and
technology, and may not have adequate experience to manage the project (Keil et
al. 1998). Inadequate knowledge and skills has a huge impact on the outcome of
the project.
To begin the risk management process, first the risk needs
to be identified so that appropriate measures can be taken to counter it
(Schmidt et al. 2001). Software risk management is an overwhelming
responsibility. However, it is effectual and necessary to reduce the failure
rate of the projects. Organizations that have identified risks and implemented
risk management processes for their software projects have been successful
(Kwak & Stoddard 2004).
References
- Sengupta, Abdel-Hamid, Swett, K. and T.K., C. (1999). The Impression of Targets on Software Plan Organization: An Investigational Study. MIS Quarterly, 23 (4), p.531-555.
- T. and Vallabh , S. , Addison (2002). Calculating Software Project risk- an Experimental Study of Methods used by knowledgeable Project Managers. Proceedings of SAICSIT, p.28 – 140.
- Angotti, C. and Greenstein, D. (1999). Ten Project Schedule Risk Factors. Available: http://www.designshrink.com/Risk.wp.html
- Jiang, J.J. and Klein, G. (1999). Risks to different aspects of system success. Information and Management, 36 (5), p.263–272
- Karolak, D.W. (1996). Software Engineering Risk Management. Los Alamitos, CA: IEEE Computer Society Press.
- Keil, , Cule, Lyytinen, K. And Schmidt, R., P.E., M. (1998). A Structure for Identifying Software Plan Risks. Connections of the ACM, 41(11), p.77-83.
- Y.H., Kwak, and Stoddard, J. (2004). Project Risk Organization: Lessons well-read from software Expansion surroundings. Technovation, Vol. 24, p.915-920.
- Hoffer,Martin, , Dehayes, E.W., D.W., Perkins and J.A., W.C. (1994). Administrating Information Knowledge: What the Managers Need to Know.2nd Edition, New Jersey: Prentice Hall.
- Mcleod, G. and Smith, D. (1996). Managing IT Projects. Massachusetts: Boyd and Fraser Publishing.
- Ropponen, J., and Lyytinen, K. (2000). Components of Software Development Risk: How to Address Them? IEEE Transactions on Software Engineering, 26 (2), p.98-111.
- Schmidt, R., K., M., Cule, P.and Keil, Lyytinen (2001). Identifying Software Development Risk: A Global Delphi Study. Periodical of Association Information Systems, 17(4), pp. 5-36.
- Rai, Keil, A., L., M. and Wallace (2004). How Software plan Risk Affects Project act: A research of the magnitude of Risk and An Exploratory Model. Decision Sciences, 35 (2), US
Elad Shalom,
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