What are the actions can be taken to resolve risks in the software project?
Following actions can be taken by the project team to resolve a risk in IT Project:
Research
The risk is not yet fully understood. Its impact or likelihood of
occurrence may be unclear or the context in which it may occur
could seem unreasonable. Further research by members of the
project team is warranted.
Accept
The risk is unavoidable and must be accepted as-is. This category
of risks become extremely important to a project since they cannot
be resolved but still represent a threat to completion. Anticipation
therefore become the key to dealing with this category of risk.
Reduce
The risk as it stands is unacceptable. The project team must act to
reduce the risk and to establish contingency plans should the risk
occur. The risk will have to reviewed in future to define the threat it
poses.
Eliminate
The risk is unacceptable under any circumstances and must be
eliminated as a possibility. The project team must put in place
processes and procedures not only to ensure the immediate threat
is eliminated but that it does not re-occur in the future.