Risk Analysis
Contents:
1 What do you have to do?
Analyze the projects
- Based upon contents of Functional Specs
- Identifying Risks
- Some will be known and some unknown
2 Risk Analysis
- Basis for prototype design
- Identify risks (tangible and intangible)
- Prioritize risks based upon project impact & probability of occurance (scale of 1 - 5)
- Identify methods for risk mitigation
3 Project Decisions & Risk
- Uncertainties cannot be eliminated
- Affects can be reduced or minimized
4 Some Mechanisms for Reduction
- Establishing project action checklists
- Team evaluation of planned actions
- Critical evaluations by experts
- Contingency plans for unexpected events
5 Mitigation Methods
- Expert suggestions
- Use of Best Practices
- Change in processes/policies in customer domain
- Customer cooperation/buy-in
- All factors considered - including schedule and budget
6 What do you have to do?
- Prepare documents that identify, assess, and manage the risks
- Based upon expert/mentor advice and opinions
7 Remember…
- Quality of Design is Critical
- Establish a design approach that supports risk control
- Sample inputs/outputs
- Module interactions
- Defined limitations of the system
8 Project Questions
- Objective review - Have these changed?
- What are the project factors?
- What are the events critical to the overall project?
- Is it still feasible?