Software Risk

1. What is Risk?

-----Risk is a concept that denotes the precise probability of specific eventualities. Technically, the notion of risk is independent from the notion of value and, as such, eventualities may have both beneficial and adverse consequences. However, in general usage the convention is to focus only on potential negative impact to some characteristic of value that may arise from a future event.
-----Risk can be defined as “the threat or probability that an action or event will adversely or beneficially affect an organisation's ability to achieve its objectives”. In simple terms risk is ‘Uncertainty of Outcome’, either from pursuing a future positive opportunity, or an existing negative threat in trying to achieve a current objective.

Reference: http://en.wikipedia.org/wiki/Risk

2. Identify at least 5 software risk. Discuss each.

a.)Staff Turnover: This kind of software can affect the success or failure of a project since in this situation. the working staff leave before the project is finished, so we can just imagine the scenario when there is staff turnover, so the whole project and the management will be put in "hot water".

b.) The project itself: This kind of software risks include inadequate configuration control, cost overruns and poor quality. Poor quality means the software either does not work very well, or it fails in operation repeatedly. So this is problem once it is encounter.

c.) Commercial software risks: A finished project may have lower user satisfaction. Lower user satisfaction means the product has low quality, functions inadequately, and has complex structures. Users are also displeased by excessive utilization of disk space or other hardware components requirements by the software.

d.) Hardware Unavailability: A kind of sofware risk where the needed hardware specifically needed of a certain project is not available on a certain schedule that is set that it would be use.

e.) Configuring the Project: This simply means that the project might be in jeopardy once the congifure is mistaken and there will be a great need for the project to reconstruct it again.

3. Identify risk management strategies.

The Risk Management Strategies are:

• identify, characterize, and assess threats
• assess the vulnerability of critical assets to specific threats
• determine the risk (i.e. the expected consequences of specific types of attacks on specific assets)
• identify ways to reduce those risks
• prioritize risk reduction measures based on a strategy

Reference: http://en.wikipedia.org/wiki/Risk_management

4. You are asked by your manager to deliver software to a schedule which you know can only be met by asking your project team to work unpaid overtime. All team members have young children. Discuss whether you should accept this demand from your manager or whether you should persuade your team to give their time to the organisation rather that their families. What factors might be significant in your decision?

-----The factor that I should consider would be the availability of time of all my team mates in a project. By asking them, we could have our consultation period & as well changing of comments and suggestions about the said project. As a working team, we should come up with a unified decision. That's why I couldnt say that I could accept the demand without prioritizing first the rights & the status of all the members of the project team. I wont take the risk if I know it will turn out to worst outcome. There's nothing bad about talking personally and sincerely to the manager saying the true reason why we cannot deliver the said project.

5. As an IT student that has been trained for Java Programming, you are offered a home based job as a project manager for a certain software project, but you feel that you can make more effective contribution in a technical specifically doing progamming module using Java for the project rather than a managerial role. Discuss whether you should accept the job.

-----Basically, I will not accept the job. Why? Because how can I work efficiently, effectively, & productively if the task that was assigned to me is not my forte. I cannot give all the knowledge that I know if i will accept something which I know is beyond my limitations. Trying is not bad, but if there's other option to choose, why should we take the road which we think could affect our performance? Try to be wise! Don't just be blind for the position, think more ethically & practically.