ABSTRACT
When a project is approved, business owners are making a conscious investment in time — and therefore, money — toward the development of the project’s deliverables. Because all these owners are not project managers, it must be ensured that they understand and have promptly quantified the risks affecting the project. Normally, this should be done by the project manager, but many times, depending on the size of the project or the human resources available, anyone on the project team may step in to assess and measure risk. This chapter addresses risk management, regardless of the resource enacting the process. Although the principles discussed in this chapter could be applied to various types of projects (e.g., bridge construction, railway expansion) this chapter focuses mainly on software development projects.
