Software development is quite risky at times when there is less feasibility of a project attaining success. There are a wide range of factors that govern these risk and underestimating any of these factors can lead to sure-shot failure of your software project. If you want your project to be safe of all risks, then proper risk management is highly desirable. For sure, risk management has traditionally & effectively been a crucial, integral part of software development life cycle.
The gradual shift from traditional models, like the waterfall model, to more agile software development methods has further created obstacles & challenges in the area of risk management. Risk management while following agile software development approach requires high levels of caution and care. Security & risk management in modern software projects may be not just something that one may do even if time and resources are available. High-end security has become a crucial part of the final product; that simply means that software development risk management is not something that should be left for the end time when the risk actually arises.
It must be actually introduced at the starting phase of the project when the project requirements are being analyzed. Its then only that the risks must be evaluated as well as assessed so that the whole development cycle remains safe of such risks. For this, making use of the existing models while adding in fresh ideas is ideally required to make sure that an effective solution is devised to fix the issues; most professional companies offering software development in India are well aware of this fact.
One of the most crucial aspect related with software development risk management is the maturity of the software. Lesser time is needed on risk management as the development process proceeds further. Risks identified earlier in the process would lead to lesser financial loss. What this indicates is that a robust model for suitably integrating risk management with agile is needed to address this issue.