What Is Risk Management In Software Engineering?

Risk management is containment and mitigation of a potential problem. Identifying and overcoming these obstacles are the difference between a success or failure in project management. First, you identify and plan, then be ready to act when a risk arises. Drawing upon the experience and knowledge of the entire team is essential to minimize the impact to the project.

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Why is it Important?

Very simply, risk is a potential problem. It’s an activity or event that may compromise the success of a software development project and increases the possibility of loss. Exposure to a specific project will account for both the likelihood and the severity of the potential loss. 

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How does RTD Manager Help?

Gathering and managing requirements is challenging. Continuously evolving baselines or requirements throughout the project life-cycle need to be managed effectively. As with any project, mitigating risk is also a continuous process throughout the project life-cycle. By using RTD Manager to manage requirements, tests, designs, schedule, project status, and properly format your technical documentation, you are mitigating risk to the project, its cost and schedule. 

To learn more about risk, click here.