Now that you've analyzed the risks inherent to your project and come up with a plan to tackle them, it's time to put your risk management plan into practice. In this concluding article, examine the processes of implementing, monitoring and auditing a software risk management plan, together with a case study that demonstrates how it works in the real world.
There are a few important things to be kept in mind while implementing the carefully devised risk plan:
* Keep a close vigil on all major milestones and deliverables during the course of the development process.
* Focus on reducing the risks early on in the development phases.
* Try to minimize the errors in estimation, especially in budget and time estimation.
* Explore more than one approach to solving problems.
* Eliminate repetitive risks.
* Identify dependencies between the risks.
* Protect classified information
* Allow only those personnel with specific security permissions to access the system.
In the implementation phase, the risk plan should be constantly assessed and steps taken to reduce or eliminate errors or oversights. This includes:
* Revisiting the project estimates in order to encompass the added effort required to carry out the risk reduction activities, should the risk turn into a serious problem.
* Making appropriate alterations in the budget so as to cover the expenses to be incurred in performing the risk reduction activities.
* Changing the scope of the project, team members and technology used if necessary.
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