Project Risk. Managing software project risks is often discussed, but too often misunderstood. One of the unfortunate problems is that IT professionals side-step the math and assign arbirtary ratings that have no basis in reality. The net result is miscalculated risks with no quantifiable impacts. A starting point is to brush up on probability, and Simple Measures of Success will step you through the basics. This Word document not only covers the fundamentals of probability, but also covers statistical process control charts.

After you get up to speed with the relatively simple math, What is Software Risk Management? will nudge you towards applying it in a practical way. The finishing touch is the theme of Software Project Risk Management Practices. These documents will give you the foundation, and are also consistent with project risk management processes that are set forth in the Project Management Body of Knowledge for those who are either certified as a Project Management Professional or pursuing that certification. The material is also consistent with practices used in the UK project management standard, PRINCE2, in addition to suporting requirements of the Capability Maturity Model.