Table of Contents
LEVEL 1: BASIC PERFORMANCE 3
WORK PRODUCTS 4
JUSTIFICATION AND CHARACTERISTICS OF THE WORK PRODUCTS 5
LEVEL 2: MANAGED PROCESS 7
PA 2.1 PERFORMANCE MANAGEMENT ATTRIBUTE 7
ADDITION WORK PRODUCTS 7
JUSTIFICATION AND WORK PRODUCTS CHARACTERISTICS: 8
ENHANCED CHARACTERISTICS OF BASIC WORK PRODUCTS. 10
PA 2.2 WORK PRODUCT MANAGEMENT ATTRIBUTE 10
ADDITIONAL WORK PRODUCTS: 10
JUSTIFICATION WITH CHARACTERISTICS 11
ENHANCED CHARACTERISTICS OF BASIC WORK PRODUCTS…show more content… So that risk-handling activities may be planned and invoked as needed across the life of the product or project to mitigate adverse impacts on achieving objectives by addressing risk throughout the life cycle of a system or software product or service. It can be applied to risks related to the development, maintenance or operation of a system. Risk management can be classified into three parts
• Defining a risk management strategy
• Identifying and analysing risks
• Handling and implementation of risk mitigation plans
As a result of successful implementation of the Risk management process:
Objective 1: Determine the scope of risk management that is to be performed.
Objective 2: Risk management strategies are defined and implemented.
Objective 3: Risks that are identified during developing process of the project.
Objective 4: Prioritizing the risks and treatment of the risks is analysed.
Objective 5: Risk measures are defined, applied, and assessed to determine changes in the status of risk and the progress of the treatment activities.
Objective 6: Appropriate treatment is taken to correct or avoid the impact of risk based on its priority, probability, and consequence or other defined risk threshold.
Let us assume a company, which is making a software product. For the company to track the performance of the risk management