logo.gif

Forum| Contact Us| Testimonials| Sitemap| Employee Referrals| News| Articles| Feedback| Enquiry
 
Testing Resources
 
  • Testing Articles
  • Testing Books
  • Testing Certification
  • Testing FAQs
  • Testing Downloads
  • Testing Interview Questions
  • Testing Jobs
  • Testing Job Consultants
  • Testing News
  • Testing Training Institutes
  •  
    Fundamentals
     
  • Introduction
  • Designing Test Cases
  • Developing Test Cases
  • Writing Test Cases
  • Test Case Templates
  • Purpose
  • What Is a Good Test Case?
  • Test Specifications
  • UML
  • Scenario Testing
  • Test Script
  • Test Summary Report
  • Test Data
  • Defect Tracking
  •  
    Software testing
     
  • Testing Forum
  • Introduction
  • Testing Start Process
  • Testing Stop Process
  • Testing Strategy
  • Risk Analysis
  • Software Listings
  • Test Metrics
  • Release Life Cycle
  • Interoperability Testing
  • Extreme Programming
  • Cyclomatic Complexity
  • Equivalence Partitioning
  • Error Guessing
  • Boundary Value Analysis
  • Traceability Matrix
  •  
    SDLC Models
     
  • Introduction
  • Waterfall Model
  • Iterative Model
  • V-Model
  • Spiral Model
  • Big Bang Model
  • RAD Model
  • Prototyping Model
  •  
    Software Testing Types
     
  • Static Testing
  • Dynamic Testing
  • Blackbox Testing
  • Whitebox Testing
  • Unit Testing
  • Requirements Testing
  • Regression Testing
  • Error Handling Testing
  • Manual support Testing
  • Intersystem Testing
  • Control Testing
  • Parallel Testing
  • Volume Testing
  • Stress Testing
  • Performance Testing
  • Agile Testing
  • Localization Testing
  • Globalization Testing
  • Internationalization Testing
  •  
    Test Plan
     
  • Introduction
  • Test Plan Development
  • Test Plan Template
  • Regional Differences
  • Criticism
  • Hardware Development
  • IEEE 829-1998
  • Testing Without a TestPlan
  •  
    Code Coverage
     
  • Introduction
  • Measures
  • Working
  • Statement Coverage
  • Branch Coverage
  • Path Coverage
  • Coverage criteria
  • Code coverage in practice
  • Tools
  • Features
  •  
    Quality Management
     
  • Introduction
  • Components
  • Capability Maturity Model
  • CMMI
  • Six Sigma
  •  
    Project Management
     
  • Introduction
  • PM Activities
  • Project Control Variables
  • PM Methodology
  • PM Phases
  • PM Templates
  • Agile PM
  •  
    Automated Testing Tools
     
  • Quick Test Professional
  • WinRunner
  • LoadRunner
  • Test Director
  • Silk Test
  • Test Partner
  • Rational Robot
  •  
    Languages
     
  • Perl Testing
  • Python Testing
  • JUnit Testing
  • Unix Shell Scripting
  •  
    Automation Framework
     
  • Introduction
  • Keyword-driven Testing
  • Data-driven Testing
  •  
    Configuration Management
     
  • History
  • What is CM?
  • Meaning of CM
  • Graphically Representation
  • Traditional CM
  • CM Activities
  • Tools
  •  
    Articles
     
  • What Is Software Testing?
  • Effective Defect Reports
  • Software Security
  • Tracking Defects
  • Bug Report
  • Web Testing
  • Exploratory Testing
  • Good Test Case
  • Write a Test
  • Code Coverage
  • WinRunner vs. QuickTest
  • Web Testing Tools
  • Automated Testing
  • Testing Estimation Process
  • Quality Assurance
  • The Interview Guide
  • Upgrade Path Testing
  • Priority and Severity of Bug
  • Three Questions About Bug
  •    
     

    Areas of risk management


    A D V E R T I S E M E N T



    Home » Risk Analysis » Areas of risk management

    Areas of risk management

    As applied to corporate finance, risk management is the technique for measuring, monitoring and controlling the financial or operational risk on a firm's balance sheet.

    The Basel II framework breaks risks into market risk (price risk), credit risk and operational risk and also specifies methods for calculating capital requirements for each of these components.


    Enterprise risk management

    In enterprise risk management, a risk is defined as a possible event or circumstance that can have negative influences on the Enterprise in question. Its impact can be on the very existence, the resources (human and capital), the products and services, or the customers of the enterprise, as well as external impacts on society, markets, or the environment. In a financial institution, enterprise risk management is normally thought of as the combination of credit risk, interest rate risk or asset liability management, market risk, and operational risk.

    In the more general case, every probable risk can have a preformulated plan to deal with its possible consequences (to ensure contingency if the risk becomes a liability).

    From the information above and the average cost per employee over time, or cost accrual ratio, a project manager can estimate

    • the cost associated with the risk if it arises, estimated by multiplying employee costs per unit time by the estimated time lost (cost impact, C where C = cost accrual ratio * S).
    • the probable increase in time associated with a risk (schedule variance due to risk, Rs where Rs = P * S):
      • Sorting on this value puts the highest risks to the schedule first. This is intended to cause the greatest risks to the project to be attempted first so that risk is minimized as quickly as possible.
      • This is slightly misleading as schedule variances with a large P and small S and vice versa are not equivalent. (The risk of the RMS Titanic sinking vs. the passengers' meals being served at slightly the wrong time).
    • the probable increase in cost associated with a risk (cost variance due to risk, Rc where Rc = P*C = P*CAR*S = P*S*CAR)
      • sorting on this value puts the highest risks to the budget first.
      • see concerns about schedule variance as this is a function of it, as illustrated in the equation above.

    Risk in a project or process can be due either to Special Cause Variation or Common Cause Variation and requires appropriate treatment. That is to re-iterate the concern about extremal cases not being equivalent in the list immediately above.

    Risk management activities as applied to project management

    In project management, risk management includes the following activities:

    • Planning how risk management will be held in the particular project. Plan should include risk management tasks, responsibilities, activities and budget.
    • Assigning a risk officer - a team member other than a project manager who is responsible for foreseeing potential project problems. Typical characteristic of risk officer is a healthy skepticism.
    • Maintaining live project risk database. Each risk should have the following attributes: opening date, title, short description, probability and importance. Optionally a risk may have an assigned person responsible for its resolution and a date by which the risk must be resolved.
    • Creating anonymous risk reporting channel. Each team member should have possibility to report risk that he foresees in the project.
    • Preparing mitigation plans for risks that are chosen to be mitigated. The purpose of the mitigation plan is to describe how this particular risk will be handled what, when, by who and how will it be done to avoid it or minimize consequences if it becomes a liability.
    • Summarizing planned and faced risks, effectiveness of mitigation activities, and effort spent for the risk management.

    Looking for Software Testing eBooks and Interview Questions? Join now and get it FREE!
    discussionDiscussion Center
    Discuss
    Discuss

    Query

    Feedback
    Yahoo Groups
    Y! Group
    Sirfdosti Groups
    Sirfdosti
    Contact Us
    Contact
    Recommended Resources
    • Testing Interview Questions - http://www.coolinterview.com/type.asp
    • Testing Tools Interview Questions - http://www.coolinterview.com/type.asp
    • What is Software Testing?- http://en.wikipedia.org/wiki/Software_testing
    • Software QA & Testing Resource Center- http://www.softwareqatest.com/
    • Testing Faqs- http://www.testingfaqs.org/
     
    A D V E R T I S E M E N T
       
       

    Members Login


    Email ID:
    Password:


    Forgot Password
    New User
       
       
    Testing Interview Questions
  • General Testing
  • Automation Testing
  • Manual Testing
  • Software Development Life Cycle
  • Software Testing Life Cycle
  • Testing Models
  • Automated Testing Tools
  • Silk Test
  • Win Runner
  •    
       
    Testing Highlights

  • Software Testing Ebooks
  • Testing Jobs
  • Testing Frequently Asked Questions
  • Testing News
  • Testing Interview Questions
  • Testing Jobs
  • Testing Companies
  • Testing Job Consultants
  • ISTQB Certification Questions
  •    
       
    Interview Questions

  • WinRunner
  • LoadRunner
  • SilkTest
  • TestDirector
  • General Testing Questions
  •    
       
    Resources

  • Testing Forum
  • Downloads
  • E-Books
  • Testing Jobs
  • Testing Interview Questions
  • Testing Tools Questions
  • Testing Jobs
  • A-Z Knowledge
  •    
    Planning
    for
    Study ABROAD ?


    Study Abroad


    Vyom Network : Free SMS, GRE, GMAT, MBA | Online Exams | Freshers Jobs | Software Downloads | Programming & Source Codes | Free eBooks | Job Interview Questions | Free Tutorials | Jokes, Songs, Fun | Free Classifieds | Free Recipes | Bangalore Info | GATE Preparation | MBA Preparation | Free SAP Training
    Privacy Policy | Terms and Conditions
    Sitemap | Sitemap (XML)
    Job Interview Questions | Placement Papers | SMS Jokes | C++ Interview Questions | C Interview Questions | Web Hosting
    German | French | Portugese | Italian