TABLE OF CONTENTS From the previous chapter you will have ascertained how important it is to supplement the qualitative methods of risk assessment with quantitative methods. Some project managers argue that quantitative methods of risk assessment are perhaps optional extras. I personally have never subscribed to this school of thought; my belief is that project managers should use all tools and methods available to them.
In reviewing the scope of the assessment stage of the risk management process we looked at:
The objectives and goals within risk assessment
The approach to risk assessment
The key inputs to risk assessment
The tools and techniques used within the risk assessment process.
In this chapter we will discuss the use of:
Mitigation and planning strategies to reduce or remove the effects of a realized risk
Contingency planning, that is putting in place processes and resources to respond to the effects of a realized risk
Fallback position, that is putting in place alternative business and technical strategies, untouched by the identified risk, that can replace that threatened should the risk be realized
Transferring risk, that is the passing of risk to the other areas of the organization who are perhaps better placed to address it.
We touched briefly on planning in Chapter 1 (refer to points 1.5.1.7 and 1.6.1.3). To recap the risk management planning process is extremely important for the positioning of risk management within the software development process. Clearly...
