Software evaluated looking at the probability of occurrence

Software development is activity that uses a variety of technological advancements and requires high levels of knowledge. Because of these and other factors, every software development project contains elements of uncertainty.This is know as project risk and occurs in any software development project no matter the number of people working on the project.The success of a software development project depends quite heavily on the amount of risk that corresponds to each project activity.In order to counter/limit the impact that risks can have on a software development it is not just enough to know of the risks that could hinder progress on the development or even completely invalidate already completed work but in order  to have a successful outcome and complete the software development the people working on the project need to identify,assess, prioritize and manage all of the major risks Because of the way in which our group is working on the project the possibility of risks is painfully real and ifundealt with can become prevalent in the project.That is why it is critical that as a group working on a software development project we  identify, understand, and mitigate any risks that might threaten the success of a project.With our project having a time constraint it is clear that in order to achieve successful software development risk assessment and risk mitigation will become a central activity in the management of our group. To simplify it a risk is a potential problem that could be a activity or event that may compromise the success of a software development project. Risk is the possibility of suffering loss, and total risk exposure to a specific project will account for both the probability and the size of the potential loss. Guesswork and crisis-management are never effective. Identifying and aggregating risks is the only predictive method for capturing the probability that a software development project will experience unplanned or inadmissible events. These include terminations, discontinuities, schedule delays,and overrun project resources. In this section of  the report potential risks will be identified and evaluated  looking at the probability of occurrence per risk  and the impact that these risks could have on the project/schedule as well as control strategies that the group could use to ensure that the impact on the group is lessened or that the risk is avoided entirely. In order to better understand the risks that the project faces it is important to rank the risks based on the two factors that determine their impact on the project and that is the likelihood and the impact.The likelihood is simply the probability of that risk occurring (if no avoidance measures are taken).The impact is the severity of the effect of the risk on the schedule of the project.Below is the table that will be used to evaluate the ranking of the risks that our project will face.

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