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CS605 - Software Engineering II - Lecture Handout 19

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Types of Risks

Each project is faced with many types of risks. These include:

  • Project risks
    • Will impact schedule and cost
    • Includes budgetary, schedule, personnel, resource, customer, requirement problems
  • Technical risks

CS605 - Software Engineering II - Lecture Handout 18

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Risk analysis and management

Analysis and management of project risks is also a very important activity that a project manager must perform in order to improve the chances for the project. Robert Charette defines risk as follows:

Risk concerns future happenings. Today and yesterday are beyond active concern. The question is, can we, therefore, by changing our action today create and opportunity for a different and hopefully better situation for ourselves tomorrow. This means, second, that risk involves change, such as changes in mind, opinion, action, or places. … [Third,] risks involve choice, and the uncertainty that choice itself entails.

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