Abstract

Many software engineering projects have very high risks and failure rates during their project life. The projects mainly suffer from risks developed in software development which are mostly caused by operational risks, technological risks, management practices, risks in achieving customer acceptance of the product and business risks. Risk can be reduced with certain workflow steps for the software project. Normally, risk management exist at any point of time when a customer analyzes and attempts to quantify the strategic risks for losses in an investment and then takes those appropriate actions to their investment objectives and risk tolerance. Improper risk management may result in severe penalty for both companies and customers. The aim of this paper is to reduce the strategic risks of software engineering projects if we maintain proper workflow steps in each development stages of software engineering projects which results in assure project success.

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