Discuss different types of risks which are likely to arise in software projects. Briefly explain risk analysis stage during risk management process.
There are mainly three categories of risks that are likely to arise in software projects. They are described below:-: 1) Product Risk: Product risks are the risks that influence the quality attributes as well as the performance of software being developed. Example: failure of purchase component to perform as expected 2) Project Risk: Project risks are the risks that influence the schedule of a software project and that if occur delay the development process. Example: staff turnover, hardware unavailability, etc. 3) Business Risk: Business risk is a risk that affects the organization's business that is developing or procuring the software. it could be anything that has the potential of threatening the generation of profits at the predetermined target levels. Business risks could be quite dangerous for the long-term sustainability of the business. Example: Technology change, Product completion, etc. Risk Analysis Stage - Risk Analysis in project management is a sequence of process