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What is Risk Analysis in SDLC?
 
Risk Analysis is one of the important concepts in Software Product Life Cycle. Risk analysis is broadly defined to include risk assessment, risk characterization, risk communication, risk management, and policy relating to risk.Risk Assessment is also known as Security risk analysis.
 
Risk Analysis: A risk analysis involves identifying the most probable threats to an organization and analyzing the related vulnerabilities of the organization to these threats.
 
Risk Assessment: A risk assessment involves evaluating existing physical and environmental security and controls, and assessing their adequacy relative to the potential threats of the organization.
 
Business Impact Analysis: A business impact analysis involves identifying the critical business functions within the organization and determining the impact of not performing the business function beyond the maximum acceptable outage. Types of criteria that can be used to evaluate the impact include: customer service, internal operations, legal/statutory and financial.
 
Business Impact Risks:
 
The following risk item issues identify some generic risks associated with business impact:
1.Affect of this product on company revenue?
2.Reasonableness of delivery deadline?
3.Number of customers who will use this product and the consistency of their needs relative to the product?
4.Number of other products/systems with which this product must be interoperable?
5.Amount and quality of product documentation that must be produced and delivered to the customer?
6.Costs associated with late delivery or a defective product?
 
Customer-Related Risks:
 
Different Customers have different needs. Customers have different personalities. Some customers accept what is delivered and some others complain about the quality of the product. In some other cases, customers may have very good association with the product and the producer and some other customers may not know. A bad customer represents a significant threat to the project plan and a substantial risk for the project manager.

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