What is risk analysis and risk management in software projects?
Risk analysis and management are a series of steps that help a software team to understand and manage uncertainty. Many problems can plague of software project. A risk is a potential problem; it might happen, it might not. But regardless of the outcome, it’s a really good idea to identify it, assess its probability of occurrence, estimate its impact, and establish a contingency plan should the problem actually occur. The key to managing risks is to build contingency plans for risk and to build enough time into your project schedule to mitigate risks that you do not know about.
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