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162 PART TWO MANAGING SOFTWARE PROJECTS

6.6. Describe the difference between risk components and risk drivers.
6.7. Develop a risk mitigation strategy and specific risk mitigation activities for three
of the risks noted in Figure 6.2.
6.8. Develop a risk monitoring strategy and specific risk monitoring activities for
three of the risks noted in Figure 6.2. Be sure to identify the factors that you’ll be mon-
itoring to determine whether the risk is becoming more or less likely.
6.9. Develop a risk management strategy and specific risk management activities
for three of the risks noted in Figure 6.2.
6.10. Attempt to refine three of the risks noted in Figure 6.2 and then create risk
information sheets for each.
6.11. Represent three of the risks noted in Figure 6.2 using a CTC format.

6.12. Recompute the risk exposure discussed in Section 6.4.2 when cost/LOC is $16
and the probability is 60 percent.

6.13. Can you think of a situation in which a high-probability, high-impact risk would
not be considered as part of your RMMM plan?
6.14. Referring the the risk referent shown on Figure 6.4, would the curve always
have the symmetric arc shown or would there be situations in which the curve would
be more distorted. If so, suggest a scenario in which this might happen.

6.15. Do some research on software safety issues and write a brief paper on the
subject. Do a Web search to get current information.

6.16. Describe five software application areas in which software safety and hazard
analysis would be a major concern.

FURTHER READINGS AND INFORMATION SOURCES
The software risk management literature has expanded significantly in recent years.
Hall [HAL98] presents one of the more thorough treatments of the subject. Karolak
[KAR96] has written a guidebook that introduces an easy-to-use risk analysis model
with worthwhile checklists and questionnaires. A useful snapshot of risk assessment
has been written by Grey (Practical Risk Assessment for Project Management, Wiley,
1995). His abbreviated treatment provides a good introduction to the subject. Addi-
tional books worth examining include
Chapman, C.B. and S. Ward, Project Risk Management: Processes, Techniques and Insights,
Wiley, 1997.
Schuyler, J.R., Decision Analysis in Projects, Project Management Institute Publications, 1997.
Wideman, R.M. (editor), Project & Program Risk Management: A Guide to Managing Project
Risks and Opportunities, Project Management Institute Publications, 1998.