OpenUP/OpenUP_SP/library/openup_basic/guidances/concepts/risk.xmi

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  <mainDescription>&lt;h3&gt;
    What is a Risk?
&lt;/h3&gt;
&lt;p&gt;
    Many decisions are driven by risk mitigation&amp;nbsp;in well managed projects. You are trying to mitigate or tackle the
    most critical risks as early as possible in the project. In order to achieve this you need to get a good grip on the
    risks the project is faced with, and have clear strategies on how to mitigate or deal with them.
&lt;/p&gt;
&lt;p&gt;
    In everyday life a risk is an exposure to loss or injury; a factor, thing, element, or course involving uncertain
    danger.&amp;nbsp;Similarly, in&amp;nbsp;software development a risk is something that can compromise the success of a project.
    Examples of potential sources of risk in software development are listed below (see [&lt;a class=&quot;elementLinkWithUserText&quot; href=&quot;./../../../openup_basic/guidances/supportingmaterials/references,_9ToeIB83Edqsvps02rpOOg.html&quot; guid=&quot;_9ToeIB83Edqsvps02rpOOg&quot;&gt;SEI99&lt;/a&gt;] for more details):
&lt;/p&gt;
&lt;ul&gt;
    &lt;li&gt;
        Requirements
    &lt;/li&gt;
    &lt;li&gt;
        Design
    &lt;/li&gt;
    &lt;li&gt;
        Development process
    &lt;/li&gt;
    &lt;li&gt;
        Work environment
    &lt;/li&gt;
    &lt;li&gt;
        Resources
    &lt;/li&gt;
    &lt;li&gt;
        Contract
    &lt;/li&gt;
    &lt;li&gt;
        Project interdependencies
    &lt;/li&gt;
    &lt;li&gt;
        etc.
    &lt;/li&gt;
&lt;/ul&gt;
&lt;p&gt;
    Risks can be seen as opportunities. If there are benefits associated to an opportunity, then certain degrees of risk
    must be taken&amp;nbsp;for a&amp;nbsp;project to be&amp;nbsp;successful [&lt;a class=&quot;elementLinkWithUserText&quot; href=&quot;./../../../openup_basic/guidances/supportingmaterials/references,_9ToeIB83Edqsvps02rpOOg.html&quot; guid=&quot;_9ToeIB83Edqsvps02rpOOg&quot;&gt;SEI99&lt;/a&gt;].
&lt;/p&gt;
&lt;h3&gt;
    Risk Attributes
&lt;/h3&gt;
&lt;p&gt;
    You can record as much information as you like or need about your risks, you will find below a list of common risk
    attributes.
&lt;/p&gt;
&lt;ul&gt;
    &lt;li&gt;
        &lt;strong&gt;Risk Description:&lt;/strong&gt; A description of the risk detailing the impact for the project if this risk
        becomes a problem (i.e. it becomes a reality).
    &lt;/li&gt;
&lt;/ul&gt;
&lt;ul&gt;
    &lt;li&gt;
        &lt;strong&gt;Risk Type:&lt;/strong&gt; Used to classify the risk as:
    &lt;/li&gt;
    &lt;li style=&quot;LIST-STYLE-TYPE: none&quot;&gt;
        &lt;ul&gt;
            &lt;li&gt;
                &lt;strong&gt;Direct risk&lt;/strong&gt;: a risk that the project has a large degree of control over.
            &lt;/li&gt;
            &lt;li&gt;
                &lt;strong&gt;Indirect risk&lt;/strong&gt;: a risk with little or no project control.
            &lt;/li&gt;
        &lt;/ul&gt;
    &lt;/li&gt;
&lt;/ul&gt;
&lt;ul&gt;
    &lt;li&gt;
        &lt;strong&gt;Risk Probability&lt;/strong&gt; (of occurence): how many chances do we have that this risk will become
        a&amp;nbsp;problem or an issue, This is usually represented as a scale of values (for example: High, Medium, Low).
    &lt;/li&gt;
&lt;/ul&gt;
&lt;ul&gt;
    &lt;li&gt;
        &lt;strong&gt;Risk Impact&lt;/strong&gt; (level): if this risk become an problem what will be the impact&amp;nbsp;on
        the&amp;nbsp;project. This is not the actual description of the impact but the level of impact. As the risk
        probability, it is usually represented as a scale.&amp;nbsp;This&amp;nbsp;attribute is&amp;nbsp;also sometimes called the
        &lt;strong&gt;severity&lt;/strong&gt; of the risk.
    &lt;/li&gt;
&lt;/ul&gt;
&lt;ul&gt;
    &lt;li&gt;
        &lt;strong&gt;Risk Magnitude&lt;/strong&gt;: To be able to rank and to define which ones need to be mitigate first,&amp;nbsp;the
        &lt;strong&gt;Risk Probability&amp;nbsp;&lt;/strong&gt; and &lt;strong&gt;Risk Impact&lt;/strong&gt; attributes are often combined in a
        single&amp;nbsp;&lt;strong&gt;Risk&lt;/strong&gt; &lt;strong&gt;Magnitude&lt;/strong&gt; indicator represented as a scale similar to the
        combined attributes.
    &lt;/li&gt;
&lt;/ul&gt;</mainDescription>
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