Risk Analysis Tools for Managing Software Projects

Risk analysis is a stage in the process of managing software projects, which largely affects the success of the project. It represents a complex and demanding process of planning, identification, analysis, response planning risks, monitoring, control, and reporting. Every software project, regardless of size, structure and project team is exposed to various types of risks. Risks can occur in the environment, but we have to accept the fact that they can not be completely eliminated. It is necessary to focus a lot of activities on risk reduction. The two most important features for improving the risk analysis process are: engaging professional resources, procurement and use of adequate software tools for risk analysis and management. This paper presents the results of comparative analysis of the 4 types of different risk management tools. We also proposed some specific measures for the selection and choice of the most appropriate of them in accordance with the requirements and needs of the user. Obtained results can help, not highly experienced software project managers, to select good risk management tool for leading their small and medium size software projects