Creating an effective risk register
Project risks are a fact of life on any software development project. The key is to identify and quantify the risks in a way that is easy to understand and communicate. A method to achieve this is FMEA—Failure Mode and Effect Analysis. A derivative of this is RFMEA—Risk Failure Mode and Effect Analysis.
Getting ready
Before starting, it is important to have a list of all the potential risks related to your project. An easy way to do this is to solicit information from all the team members and stakeholders. Do not try and categorize or justify the risk; purely collect the information and record the risk.
How to do it...
The risk register is key to the project. It is important to keep this a living document.
1. Open your Project Control Register and create a new tab called RFMEA:
2. Create your basic headings for your RFMEA or Risk Log:
a. Risk ID is a unique number assigned to each risk.
b. Risk event is a description of the risk.
c. Likelihood is the probability...
