Risk management models in software engineering

With the tremendous growth in the complexity of software development in the last 10–15 years, the management of risks in software engineering activities is becoming an important and non-trivial issue from three perspectives: project, process and product. Therefore, researchers and practitioners are continually trying to find effective risk management approaches. In this paper, we briefly discuss the principles of risk management in software engineering, review some of the process models popular in the software engineering community, and finally discuss some of the important works conducted recently in this area in the last five years. While writing the paper, we have focused mostly on project, and process-based risks and not on product risks.

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