Risk Management for Agile Projects in Offshore Vietnam

A Systematic Review of Risk Management Tools and Techniques in Software Projects

“…Within the perspective of software project development, multidisciplinary teams comprising project managers, software engineers, and esteemed academics engage in a dynamic and collaborative brainstorming process to meticulously identify and analyze various risk factors and sources. This interactive brainstorming approach allows participants to gain a comprehensive understanding of the project's complexities, while categorizing and evaluating a wide array of variables and incidents associated with risks [18]- [21]. To streamline this intricate process, affinity diagrams are employed, enabling the consolidation and categorization of the identified risks into an initial risk list [18].…”

“…Risks are assessed thoroughly and given a score based on the likelihood and potential impact, ranging from low, medium to high levels. Using this information, a risk matrix was created to provide a visual representation of the risks, considering their probability and severity [21], [22], [24]. In an agile context, if a risk is deemed urgent and impacts the current Sprint, immediate assessment and response via ad hoc meetings is required.…”

“…In addition, a number of studies have reviewed, screened, and determined a collection of risk variables that significantly influence each project goal by using rank-ordering techniques of risk [21], [23], [25]- [27], [29]. To analyze the data, Shrivastava [25] used the Kendall Concordance test, a statistical tool that allows quantification of consensus among responses with regard to the effect of each risk factor on project objectives.…”

“…studies have incorporated the succeeding crucial stages in attentive risk monitoring and management after developing a well-crafted reaction plan. It demands the team's active execution of the planned risk responses, as well as continual monitoring for triggers with the potential to develop into actual consequences [18], [21], [26]. Furthermore, when deemed necessary, contingency plans should be promptly executed to mitigate the adverse effects.…”