Software project risk and opportunity management

Abstract

Risk is an uncertain event or condition that has a positive or negative effect on project objectives. Risk management includes the processes of planning, identification, analysis, resource planning, and controlling risk in a project. This chapter focuses on recent insights and approaches within risk management. A positive counterpart to risk management has emerged, called opportunity management. The duality between the two concepts is explained, and the fundamentals of risk-opportunity management are discussed. Furthermore, risk and opportunity management methods, processes, and tools are presented.