RISKS AND STRATEGIES TO MINIMIZE RISK

BUDGET RISK
Management can come up with new ideas when the project is finalized that costs overuns without realizing the need of reserved fund leading to unbudgeted expenditure
strategy
preparing a brief document or a request form tha would describe the changes required and reasons why are they required for senior management showing how the project is making a very important contribution in the company.

OPERATION RISK
The team members could lead to operational risk such that due to lack of communication that lead to failure in resolving their responsibilities
strategy
Organize team members to there respective work that it may be easy to understand each others jobs
TECHNICAL RISK
This occurs when the project is too complex to implement leading the project to not be finalized at the required time
strategy
Develop traceability information that it may be easy for developers to look back at your code during the project management where the software products are organized and scheduled and agile approach to development where development and testing go concurrently throughout the SDLC

SCEDULE RISK
This occurs when time is not estimated well for the project that time for submitting is exceeded
strategy
the project team should perform project scheduling where the project is distributed into tasks and the estimated time for the critical path is calculated and always to allow contingency in planning incase of any unexpected.

SCOPE RISK Sometimes the stakeholder and the users expectation are not meet by the project that lead to difficultness to read back and make changes leading to misunderstanding.
strategy
As in such the professional responsibility an engineer or developer should be competent that he or she should accept work which is outreach with there competence.

Ownership risk
This occurs when there is lack of a team member who takes responsibilities for delivering the software
strategy
the staff should have good morals and should have ability one of them to be a leader of all for taking new responsibilities