Project risk management: lessons learned from software development environment

The challenges and realities in applying effective software risk management processes are difficult, in particular integrating the risk management processes into software development organizations. However, the benefits of implementing effective risk management tools and techniques in software development project are equally great. Current perceptions and emerging trends of various software risk management practices are reviewed and risks specific to software development projects are identified. Implementing effective risk management process will succeed by changing the organizational culture. This paper addresses lessons learned from implementing project risk management practices in software development environment. (C) 2003 Elsevier Ltd. All rights reserved.