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Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

Quantitative Risk Assessment and the Effective Management of Software Projects

Quantitative Risk Assessment and the Effective Management of Software Projects
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Author(s): Dan Shoemaker (University of Detroit Mercy, USA), Antonio Drommi (University of Detroit Mercy, USA)and Wendy Norfleet (University of Detroit Mercy, USA)
Copyright: 2002
Pages: 4
Source title: Issues & Trends of Information Technology Management in Contemporary Organizations
Source Editor(s): Mehdi Khosrow-Pour, D.B.A. (Information Resources Management Association, USA)
DOI: 10.4018/978-1-930708-39-6.ch197
ISBN13: 9781930708396
EISBN13: 9781466641358

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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