This paper discusses three risk management frameworks and illustrates with examples the importance of sound operational preparation of each step in the risk management process.
(<span style="background-color: rgb(255, 255, 153); ">Dated Material</span>)
Abstract: Risk Management can be defined as a systematic process for identifying, analyzing and controlling risks in projects or organizations. Definitions and illustrations of risks are given especially by a list of ten risk factors, which occur most frequently in IT and Software projects.
For complex, high-risk projects it is very useful to implement a formal risk-management process, supported by effective methods in the individual process steps. As variants, risk-management processes according to Barry Boehm, Ernest Wallmüller and Jyrki Kontio are presented.
The importance of a sound operational preparation of each step of the risk-management process is emphasized and illustrated by examples.
