What is software risks?

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First of all, we will understand what is the risk?

“RISK is a potential future (uncertain) event in which we can get negative and undesirable results. Whose probability can range from 0 to 100% but this probability is not true. “

Types of software risks-

Software risk is of the following types: –

1. Management risks

2. Technical risks

3. Financial or budget risks

4. Schedule risks

5. Contractual & legal risks

6. Operational risks

1. Management risks: – The main reasons for this risk are as follows: –

* Not being able to plan properly.

* Management experience is low level and lack of training.

* Not getting proper communication.

* No solution for the issues of an organization.

* Lack of authority.

2. Technical risks: – The main reasons for this risk are as follows: –

* Continuous changes occur in needs.

* No new technology available

* No coding in the high-level language

* Software failure is not good

3. Budget risk: – Money is a very important factor in any project, so risks are also very high. The main reasons for this risk are:

* The software is not complete within the estimated budget.

* The cost of the corporations is steadily increasing.

* Increasing the software project.

* Delay in software project

4. Schedule risks: – The main reason for this risk is the following: –

* The project is not completed within the estimated time.

* Allocation of corporations go wrong.

* Suddenly the project is expanding.

* Can not properly track the resources.

5. Contractual and legal risks: – There are also legal and contractual risks in any project which are: –

* No construction of software within government rules and regulations.

* Any malfunction in the software within the software warranty.

* Changes in Software Requirements

* Safety and health issues etc.

6. Operational risks: – The main reasons for this risk are as follows: –

* The process could not be implemented correctly.

* lack of team spirit

* Lack of clarity in its responsibilities, that is, not to properly adhere to its responsibilities.

* Lack of practice.

* Not to be able to communicate properly, that is, lack of communication in the team.

7. Other risks: – There are more risks than the above-given risks, which are as under: –

* There is a change in government policy.

* Not enough of the tools

* Not enough features

* Computer resource not available

* Not meeting the contract or losing the contracts.


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14 thoughts on “What is software risks?”

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