Some of the Risks associated with software product

1) Product Size Risks:
Few generic risks related with the size of the product are:
o Estimated size of the product and assurance in estimated size?
o Estimated size of product?
o Size of the database created or used by the product?
o Number of users of the product?
o Number of projected changes to the requirements for the product?
Risk will be high, when a large difference is observed between expected results and the results from the past experience. It is good practice to compare expected information with previous experience for carrying out the analysis of risk.
2) Business Impact Risks:
Few generic risks associated with the business impact are:
o Effect of the software product on income of the company?
o Reasonability for delivery dates?
o Number of clients expected to use the product.
o Stability in the needs of the customer’s comparative to the product?
o Number of other products / systems with which the concerned product is expected to be interoperable?
o Amount and quality of product which must be produced and delivered to the customer?
o Costs associated with overdue delivery or a faulty product?
3) Customer-Related Risks:
Special customers have special needs. Every customer is independent. Some customers readily accept what is delivered to them. Some others complain about the value of the product. In some other cases, customers may have very good relationship with the product and the producer and some other customers may not have. A bad customer represents a major threat to the project plan and a considerable risk for the project manager.
Some checklist for the customer
o Have you engaged with the customer in the past?
o Does the customer have a good idea of his requirement?
o Will the customer agree to spend time for requirement discussions?
o Is the customer enthusiastic to join in reviews?
o Is the customer technically familiar in the product area?
o Does the customer realize the software engineering process?
4) Process Related Risks:
Risks are soaring for software product. if the software engineering method is ill defined or if analysis, design and testing are not conducted in a intended fashion.
o Whether the organization has documented software development process?
o Whether the team members are following the documented software development process?
o Whether the third party programmers are also following the defined software development process.
o Whether keeping a track on the performance of third party programmers?
o Whether the development teams and testing teams are conducting official technical reviews at regular intervals?
o Whether results of every official technical review are properly documented?
o Whether configuration management is used to maintain consistency among system?
o Is there any mechanism for controlling changes to customer necessities which have impact on the software product?
5) Technology Related Risks:
o Whether the technology used is new to the organization?
o Whether the software has proper interface with new hardware configurations?
o Whether the software has proper interface with the database system whose function and performance have not been proven in the concerned application area?
o Whether any specialized user interfaces have been demanded by product requirements?
o Do requirements demand the use of any new analysis, design or testing methods?
o Do requirements put excessive performance constraints on the product?
6) Technical Risks:
o Whether specific methods used for software analysis?
o Whether specific conventions for code documentation defined and used?
o Whether any specific methods used for test case design?
o Whether software tools used to support planning and tracking activities?
o Whether configuration management tools used to control and track change activity throughout the software development process?
o Whether tools used to generate software prototypes?
o Whether tools used to support the testing process?
o Whether tools used to support the production and management of documentation?
o Whether quality metrics collected for all software projects?
o Whether productivity metrics collected for all software projects?
7) Environmental Risks:
o Whether a software project and process management tool available in the organization?
o Whether tools for analysis and design are available in the organization?
o Whether analysis and design tools deliver methods are appropriate for the product to be built?
o Whether compilers or code generators are available for the product to be built?
o Whether testing tools are available for the product to be built?
o Whether software configuration management tools are available in the organization?
o Whether the environment needs a database or repository?
o Whether all software tools are properly incorporated among all?
o Whether all members of the project team have received training on every tool?
8) Team Associated Risks:
o Whether best people are available in enough numbers for the project?
o Do the people have the right mixture of skills?
o Whether all team members are committed for the entire duration of the project?