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Like every business undertaking, software development has its own set of risks. Recognizing and dealing with risk is a normal and essential aspect of business and of creating software.
Although each project has unique risks, here are some of the typical types of risks encountered in software development:
- Software does not fit the needs of the users
- Poor performance
- Development cost exceeds the value of expected benefits
- Software not ready in time to meet critical need
- Unreliable or buggy software
- Too difficult to use, non-intuitive, requires training
- Cost of ongoing support greater than expected
These kinds of risk are handled in two basic ways.
First, the whole reason for project management and development methodologies disciplines is to facilitate successful outcomes without falling victim to these risks.
Secondly, each project has its own distinctive set of risks, which should be addressed from the start of the project. The risk plan should identify these risks and define how they will be evaluated and avoided.
If risks are identified in the beginning, steps can be taken to avoid potential problems.