TABLE OF CONTENTS From the previous chapter you will have ascertained how important it is to understand the necessity for risk mitigation planning, setting objectives and their associated goals.
In the previous chapter we also looked at risk from the context of best practice and discussed the need for properly defined standards. We also reviewed those standards common to software projects in risk management.
We discussed the need for continuous improvement in risk management and its link to risk cost reduction. We also revisited the application of software risk metrics to projects including the development of such metrics for projects. We also explored risk management tools especially the use of risk expert systems. Finally, we explored risk mitigation and the use of the four strategies (avoidance, transfer, reduction and retention) and how such strategies could be employed within the context of software projects and their application and input to the construction of risk plans.
In this chapter we will explore the process for monitoring risk. We will also discuss the use of risk support systems and the formulation of risk registers, and the mechanisms used to track risk. We will also debate the use of reporting tools and look at some aspects of negotiation in risk management.
The frequency of monitoring and the responsibility for it should be specified in the risk management plan. Monitoring of risks and risk management effectiveness should be a routine and recognized activity and part of...
