Risk Management

This chapter covers project management, that is, the risks related to the developed processes and products, although the organizational context can also present risks. Risk management allows for raising the awareness of a doubt before it becomes a crisis. A risk represents a competitive advantage or a deciding factor. Risk management is only one of the elements of the project decision process in an organization. Risk can appear at software, system, or organizational levels. These three risk management levels are intimately linked. Most project risks are a combination of political, social, economic, environmental, and technical factors. Risk management is a good tool to continuously review the feasibility of project plans, identify and resolve problems that could impact the life cycle processes of the project, product quality, and performance with the objective of improving project management processes. The chapter briefly presents the standards and models that describe risk management requirements.