Software Risk Management - Essay Example

It employs effective communication between the project team and the end-users. Project management practices when used properly, effectively and efficiently would address the problems encountered during the project life cycle. This paper covers the potential problems and the different best practices for an IT project. Risk Management (Place after Top Management Support)IT professionals and specialists are considered optimists and often assume that everything will go smoothly and as planned (Wiegers, 1998).

They never worry about problems until they happened. This attitude often leads to unwanted surprises which might throw the project off track. In order to prepare for potential risks on the project and its implementation, the project management team shall create a formal risk management process. A formal risk model provides a structured mechanism to identify and control threats. The team can collaboratively address their shared risks and assign responsibility for risk reduction. Members can bring together their experience and knowledge in order to identify opportunities to control the risks.

The best practices for tapping members' know-how are brainstorming, education, process improvement, and application of software engineering and management techniques (Kliem & Ludin, 2000).