A risk management strategy can be included in the software project plan or the risk management steps can be organized into a separate Risk ...
A risk management strategy can be included in the software project plan or the risk management steps can be organized into a separate Risk Mitigation, Monitoring and Management Plan. The RMMM plan documents all work performed as part of risk analysis and is used by the project manager as part of the overall project plan.
Some software teams do not develop a formal RMMM document. Rather, each risk is documented individually using a risk information sheet . In most cases, the RIS is maintained using a database system, so that creation and information entry, priority ordering, searches, and other analysis may be accomplished easily.
Once RMMM has been documented and the project has begun, risk mitigation and monitoring steps commence. As we have already discussed, risk mitigation is a problem avoidance activity. Risk monitoring is a project tracking activity with three primary objectives:
(1) to assess whether predicted risks do, in fact, occur;
(2) to ensure that risk aversion steps defined for the risk are being properly applied; and
(3) to collect information that can be used for future risk analysis.
In many cases, the problems that occur during a project can be traced to more than one risk. Another job of risk monitoring is to attempt to allocate origin (what risk(s) caused which problemsthroughout the project).
