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.

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

5 software risk

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

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 WE should consider would be the availability of time of all my team mates in a project. As a working team, we should come up with a right and same decision.It must be everybody's decision not only mine because i cannot take all the responsibilities to make the project.If it happens, I will be the one who will take the risk if I know it will turn out to worst outcome. And it will not be called as a group project if all the efforts and ideas will all be mine.

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.
-----NO, I will not accept the job. Why? Because how can I work efficiently, & effectively if the task that was assigned to me is not my field. 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, then why should i take the risk for a difficult one and my knowledge for it is not enough if there is an option to try for a nice and easy for me to take it. Try to be wise! its not wrong that you are against to your boss sometimes!!