Software Quality Management ( 2510ict )

Risk monitoring and control is the next step and involves the owners of the risks to monitor various risk triggers. This works by scanning the project environment for both identified and unidentified threats and opportunities much like a radar screen (Marchewka, 2009). This approach directly relates to how to respond to the risk. Risk response allows the owner of the risk to commit resources and take actions once the risk is known or opportunity is available. This action usually follows the planned risk strategy.

The final stage of risk assessment is to determine the method in which to diminish, remove, regulate or manage the risk as to reduce financial loss or physical injury (Wolohan, 2013). Each of these three steps are ongoing for any organization as it is the duty of those in charge to reduce any and all risk for participants and spectators alike (Wolohan, 2013).

The purpose of risk assessment is not to remove risks, but to take reasonable steps to reduce them. The process involves looking at the risk, and considering what can be done to make it less likely that the risk will develop into a reality. This can be done through implementing policies and codes of practice, acting in individual’s best interests, fostering culture of openness and support being consistent, maintaining professional boundaries and following systems for raising concerns.

objectives and commit to achieving them. Moreover, as described in a the section of Clinical

With these risks highlighted then reduction of risk, both positive and negative can be identified.

The purpose of a risk assessment (RA) is to identify the entire organization’s risks and quantify the

Risk management is a process for identifying, assessing and prioritizing risks of different kinds. Once the risks are identified, the risk manager will create a plan to minimize or eliminate the impact of negative events. A variety of strategies is available, depending on the type of risk and the type of business. There are a number of risk management standards including those developed by the Project Management Institute the International Organization for Standardization the National Institute of Science and Technology and actuarial societies. Organizations uses different strategies in proper management of future events such as risk assumption, risk avoidance,

Risks that the organization focuses on are acts of crime and drug/alcohol abuse. The target of the risks are the negative outcomes because the organization is trying to prevent the negative results of the risks. The risks are medium.

Objectives for the intervention must be based on the diagnosis and on the contract agreed with the client. They should clearly relate to the needs of the client and goals of the project.

The ASHRM, which is organized by the American Hospital Association, establishes four steps method to achieve the objective. The steps are 1. Risk identification. 2. Risk analysis. 3. Risk treatment which includes Risk control and Risk financing. 4. Evaluation of risk treatment strategies (Effective Health Care Risk Management Programs. n.d.).

Definition: A Risk is an unwanted situation which might arise in an organization which might lead to negative impact on the desired result. Risk management plans involves the analyzing, managing and evaluating the projects risk and threats. It involves layout of the entire project i.e from the beginning during and after results of the project.

Once there has been a risk management assessment, we can know exactly what to expect and what can be done to prevent any type of risk. We will also know how to deal with any risk while it is happening to contain it.

Risk management is the term applied to a logical and systematic method of establishing the context, identifying, analyzing, evaluating, treating, monitoring and communicating risks associated with any activity, function or process in a way that will enable organizations to minimize losses and maximize opportunities. (Lecture notes)Risk Management is also described as 'all the things you need to do to make the future sufficiently certain'. (The NZ Society for Risk Management, 2001)

One well accepted description of risk management is the following: risk management is a systematic approach to setting the best course of action under uncertainty by identifying, assessing, understanding, acting on and communicating risk issues. In order to apply risk management effectively, it is vital that a risk management culture be developed. The risk management culture supports the overall vision, mission and objectives of an organization. Limits and boundaries are established and communicated concerning what are acceptable risk practices and outcomes. Since risk management is directed at uncertainty related to future events and outcomes, it is

In today’s software development, quality is a significant factor of software projects. Companies always expect that software developers could deliver a product with as many as possible demanded quality. How to allocate those limited resources transparently and effectively during the quality assurance activities and how to balance the risk and quality while software development? Current methods indicate us that we need to mitigate quality risks and emphasize the constraints of limited resources for quality assurance activities simultaneously.