Software application development may look easy on the outside to the users as they are simply using it and seeing it as the final product, but it is a complicated process and requires planning, expert developers, testers, coders to shape an idea into a final usable software application. A custom software development company has to go through a lot during the development of software applications. There are many risks associated with software development projects that can pose a threat to the success of the project.
What is Risk?
Risk is any potential threat that may hamper the overall development of the software application. It can cause loss, expose the authenticity of the project, profitability and time loss and more.
To cater to such risks, there is a team of risk management in software development companies. The agenda of this team is to ensure that software development is processed without any risks and hassles. A project manager needs to be extra attentive during the phase of development so that any risk can be mitigated beforehand. A successful outcome can only be achieved when the project manager can identify, assess, prioritize, and manage all of the major risks.
Risk Management in Software Development
Now that we know what risk is, business needs to be preparatory for the forecasted risks to safeguard their business. Various types of risks can affect the business in and out. Risk management supervises the software development project to mitigate threats for project success. Once the risk type is recognized as in technical, project, process, organization, the software development manager device a plan to record, monitor and erase these risks.
The task for risk management
1. Identify Risk
The first task in risk management is to identify the type of risk and classify them for further studying. This step helps project managers to find out the probable solution as per the type of risk. If the risks are not identified, there are high chances that the software project won’t work as planned and may continue to harm and hamper the overall development process.
Types of risk to identify in software development
Known: The type of risks is already known by the developer and project managers. This type of risks can be easily managed if identified well in advance.
Known unknown: This type of risks is such that the developer is aware of the risks but don’t know if they exist in the project or not.
Unknown: These risks are not projected by the project team and are not aware of their existence. Such risks are hard to cater to and extemporize on.
2. Risk Analysis
Once the risk is identified, the next step is to analyze the risk and channel the proper plan to cure it. All scenarios like the categorization of risk, the level, likelihood (percentage) and impact of the risk are analyzed. There are various conditions due to which risks occur are:
- The complexity of the technology
- Technical knowledge of the testing team
- Internal conflicts
- Team diversification across the globe
- Poor-quality testing tools
3. Software Risk Planning
The third task is software risk planning. In this step, project managers often define preventive measures to minimize the likelihood or probability of various risks occurrence. They also define measures to reduce the impact of risk in case it happens. There is also a need for constant monitoring throughout the software development process to identify risk at the early stages.
4. Software Risk Monitoring
Now that all the above process is executed, the last step is to monitor the risk in the software development process. Software risk monitoring is all about keeping a check on the unified project activities and keep an eye on the top risks’ occurrences. The best way to monitor is to keep a check in case of any plan change or a process change, prepare and document status reports to aid project managers in the future.
Every person involved in software application development is very important in accessing and identifying the risk. Any small or big risk can cause huge damage to the project and could lead to the dismantling of the project. The risk management team in the software development company needs to be active with the development of the project and minutely access the project to find and control the risks. The best way is to maintain a risk register to capture all the details of the risk which includes:
- Risk ID
- Description of the risk
- The impact of the risk happening
- Likelihood of risk occurrence
- Any actions to reduce the risk
- Risk owner
- Risk Actionee
- Risk Status – open, closed, etc.
Every software development company realizes that no software could be developed without welcoming few risks into the system. However, this doesn’t mean that software development cannot be completed due to such occurrences. These risks can be easily handled if planned and analyzed well. Risk management is a critical area of a software application development and could save money, time and effort of business when looked at it in advance.