Graphical Visualization of Risk Assessment for Effective Risk Management during Software Development Process
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2012
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Abstract
Success of any IT industry depends on the success rate of their projects,
which in turn depends on several factors such as cost, time, and availability
of resources. These factors formulate the risk areas, which needs to be
addressed in a proactive way. The rudimentary objective of risk management is
to circumvent the possibility of their occurrence by identifying the risks,
preparing the contingency plans and mitigation plans in order to reduce the
consequences of the risks. Hence, effective risk management becomes one of the
imperative challenges in any organization, which if deemed in an apt way
assures the continued sustainability of the organization in the high-end
competitive environment. This paper provides visualization of risk assessment
through a graphical model. Further, the matrix representation of the risk
assessment aids the project personnel to identify all the risks, comprehend
their frequency and probability of their occurrence. In addition, the graphical
model enables one to analyze the impact of identified risks and henceforth to
assign their priorities. This mode of representation of risk assessment factors
helps the organization in accurate prediction of success rate of the project.
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| Authors | Raghavi K Bhujang; Suma. V |
| Journal | arXiv |
| Year | 2012 |
| DOI |
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