The Software engineering institute identifies seven principles that “provide a framework to accomplish effective risk management.” They are :
- Maintain a global perspective : View software risks within the context of system in which it is a component and the business problem that it is intended to solve.
- Take a forward-looking view : Think about the risks that may arise in the future (e.g. due to changes in the software); establish contingency plans so that future events are manageable.
- Encourage open communication : If someone states a potential risk, don’t discount it. If a risk is proposed in an informal manner, consider it. Encourage all stakeholders and users to suggest risks at any time.
- Integrate : A consideration of risk must be integrated into the software process.
- Emphasize a continuous process : The team must be vigilant throughout the software process, modifying identified risks as more information is known and adding new ones as better insight is achieved.
- Develop a shared product vision : If all stakeholders share the same vision of the software, it is likely that better risk identification and assessment will occur.
- Encourage teamwork : The talents, skills and knowledge of all the stakeholders should be pooled when risk management activities are conducted.
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