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Quantitative Risk Assessment and the Effective Management of Software Projects
Abstract
The essence of successful software management lies in the ability to gauge risks and evaluate performance. Or in simple terms, commitments should never be made where the likelihood of failure is prohibitive and/or project execution can’t be tracked (Humphrey, 1994). The problem is that it is practically impossible to assess the risks of any prospective software project where there is either no prior experience, or the requirements are highly complex. And, as such, it is equally infeasible to expect to subsequently follow the process to its implementation.
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