Waltzing with Bears: Managing Risk on Software Projects

Part I: Why bother to do risk management? • Risk is always there, so manage it instead of ignoring it. • Risk is a possible future event that will lead to an undesirable outcome (problem). There are 5 steps to manage risk: discovery, analysis, planning, mitigation, monitoring. • Unmanaged risks that materialize into problems are very costly, both to the company and to individuals. • Good process alone isn't sufficient to mitigate risks. • Risk management provides many benefits.