Risk Management
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Risk Identification is a systematic attempt to specify threats to the project plan estimates, schedule, resource loading, etc. After identification and predictable risks, we have taken following steps towards avoiding and controlling them.

Product Size

It associated with the overall size of the software to be built or modified. Estimate size of product in number of programs, files, and transaction. Number of users of the product. Size of Database created.

Business Impact

Risks associated with constraints imposed by banking laws and management system.

Customer (Teacher) Characteristics

Risks associated with the sophistication of the customer (teacher) and developer’s ability to communicate. Have you work in the past with your teacher. Is the teacher willing to establish rapid communication links with the developer. Is the customer having the background technical knowledge.

Process Definition

Risks associated with the degree to which the software process has been defined and is followed by the development organization. Specific methods used for software analysis. Software tools used to support planning and tracking activities.

Development Environment

Risks associated with the availability and quality of the Oracle tools to be used to build the product.

Technology To Be Built

Risks associated with the complexity of the system to be built and the newest of the technology that is package by the system.

Members Size and Experience

Risks associated with the overall technical and project experience of the project members who will do the work.

Risk Projection

Risk projection also called the risk estimation, attempts to rate each risk in two ways.

Risk Projection Activities

Establish a scale that reflects the perceived likelihood of a risk
Estimate the impact of the risk on the project and the product
Note the overall accuracy of the risk projection so that there will be no misunderstandings.

Risk Table

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The RMMM plan

(Risk Mitigation, Monitoring and Management Plan)

The RAMMM plan documents all work performed as part of risk analysis and is used by us as part of the overall Project Plan.

Outline for the RAMMM plan follows:

I.Introduction

  1. Scope and Purpose of Document
  2. Overview of major risks
  3. Responsibilities
  4. Management
  5. Technical Staff

 II . Project Risk Table

  1. Description of all risk above cut-off
  2. Factors influencing probability and impact

 III. Risk Mitigation, Monitoring, Management

Mitigation

General Strategy

Monitoring
Factors to be monitored
Monitoring Approach
Management
Contingency
Special Consideration

IV. RMMM Plan Iteration Schedule