Different Types of Risks in Software & Programming Projects

Programming and software development projects can become very complicated quite quickly. The process involves complex coding, testing, design, and documentation. Different tasks are performed in each one of these stages that require forms of risks to be assessed and discussed. The development and maintenance of any software, not just risk management software, involves risk at each step.

Risks are considered different possible outcomes that can occur if a certain set of actions are carried out, which could cause a loss. The management of risks is very important especially in software development where even the smallest of details or hiccups could damage a project. There are various different kinds of risks that developers face while carrying out programming projects.

Schedule Risk
Software development can involve complex tasks that are very time-sensitive. A tight schedule where important deadlines need to be met can affect how a project is developed and ultimately delivered. It is important to account for risks that will lead to running behind on a project which can cause sloppy and rushed work to try to meet a deadline or a deadline not be met, which pushes back the project further. If projects are not scheduled properly, it can lead to failure or have a lasting effect on an organization. Some examples of schedule risk are poor time estimations, resource allocation, tracking, scope change, and much more.

Budget Risk
Budget risk is another risk to be aware of during projects. Budget risks usually relate to monetary risks that can occur if a particular budget isn’t followed. In most cases, it is overspending. As always, the financial aspects of a project should be assessed frequently to make sure the project is worth it and that the cost is feasible. Proper financial management and distribution is required to minimize budget risk. Some examples of this are poor estimations, mismanagement of the budgets, and poor performance.

Technical Risks
Technical risks speak upon the risks that are carried with a particular software launching or working properly. A particular project might not be possible to accomplish effectively or have poor quality control that allows for a project to not receive enough attention. Technical risks refer to performance failure. This can happen in a lot of different ways such as poor integration, lack of skilled employees, and other factors.

Programmatic Risks
Programmatic risks are various unavoidable risks that occur in the environment surrounding the projects. Many risks are out of the risk manager’s control. These risks can come in form of different regulations, limited funding, or the market shifting in another direction quickly.

I hope this helps!