RISKS AND STRATEGIES TO MINIMIZE RISK

RISKS
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
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
Technical risk
This occurs when the project is too complex to implement leading the project to not be finalized at the required time
Schedule risk
This occurs when time is not estimated well for the project that time for submitting is exceeded
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 technical debt
Ownership risk
This occurs when there is lack of a team member who takes responsibilities for delivering the software

Strategies to minimize risks
1. develop traceability information that it may be easy for developers to look back at your code
2. organize team members to there respective work that it may be easy to understand each others jobs
3. preparing a brie document for the management showing how the project is making development
4. agile approach to development where development and testing go concurrently throughout the SDLC