130 Part II: (Web hosting comparison) Planning Your Software Project If
130 Part II: Planning Your Software Project If the team passes through the threshold without meeting the requirements, the trigger is squeezed and consultants come aboard to help finish the project. Handling the ripple effect of risk response Any response to a risk can create other problems: schedule delays, a dip in team morale, an increase in cost, and more. Acknowledging the domino effect that risk responses can have on a project is important if you want to be realistic in your project management role. There are two key risks that come from risk responses that should be examined with every risk response: Residual risks: Residual risks are usually tiny risks that linger after a risk response. These are generally accepted and the project moves forward. For example, if you switch gears and bring in consultants to help meet your final deadline, responsibilities within your project team might shift. You may lose a day as your programmers adjust to their new roles. This residual risk is not as big a deal as possibly missing your final deadline, so it s one you can accept and live with. Secondary risks: Secondary risks are more serious. They occur when a risk response creates significant new project risks. For example, say you hire a company to help complete the project work. A secondary risk could be that the company you ve hired doesn t complete the project on time. Each secondary risk should be analyzed and a risk response should be planned for the risk event. You can begin to see why risk management is an iterative and ongoing process! Getting to say, I told you so! Your best friend when it comes to risk identification is documentation. If you fail to document a risk, then the risk never existed at least as far as your management team is concerned. Risk documentation is vital for project success. Each risk should be documented as part of qualitative risk analysis and then periodically revisited to see whether the initial risk analysis was flawed. Some organizations create a risk management database to enter all of the identified risks along with their risk scores, impacts, and probability ratings. As the project moves forward, you can use the risk database to view risks that are pending, have passed, or that may have come to fruition. Risk management is an important phase of your project planning and deserves the time and analysis of you and your project team. To find out more about this ever growing field, read Project Manager s Spotlight on Risk Management by Kim Heldman (Wiley).
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