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Explain the risk factors involved in affecting a software product?
Wiki User
∙ 14y ago
Firstly do you need to software program. Buying software is one thing but can you use the software for more than filling up space on a hard disk. Any new software will take time for you to learn how to use the program to its best advantage. Then there is the problem of software obtained from a friend rather than bought from the developer. If you want to get 'free' software then you run the risk of getting problems not software which will not be supported by the people who wrote the software in the first place
Wiki User
∙ 14y ago
Wiki User
∙ 6y agoOne can define risk as "Future uncertain events with a chance of occurrence and a latent for loss". In every software product, identification and management of risks are the main concerns. Before the actual execution of program, risks are identified, classified and managed. These risks can be classified in various categories and now let's have a look on these:
- Schedule Risk: Project schedule get slip when tasks and schedule release risks are not addressed properly. Impact: Mainly affects on a project and finally on organization economy.
- Budget Risk: Estimating wrong budget, software development cost overruns, scope of project expansion.
- Employee Turnover: When an engineer leaves, he or she may take critical information with him/her which can delay and sometimes derail an entire project. It is necessary to make to sure that we have resources where team members can collaborate and share knowledge.
- Technical risks: Issues that are not identified earlier can create hurdle in meeting deadlines, unclear/ incomplete specification to developer, reduction in functionality of the software to compensate for overruns.
- Unavoidable risks: Obsolescence of software or other risks that cannot be controlled or estimated, change in government polices.
Watching the above risks, most of the software development companies go for outsourced software testing services because when we engage an independent team of QA professionals to do the job, irrespective of the project's scope and frequency of testing needs, it can save the precious time and money hence results in economic growth of the organization.
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