[Music] hello everyone welcome back to my youtube channel treble free in this video i'm going to explain you about the software risks in the subject of software engineering so before going into the video i have all so started a new youtube channel about study abroad content if you are interested i will give you the link of the channel in the description you can watch and you can get the information so now let us get into the video in this video i am going to explain about risk software risks and what are the different strategies you have for managing these risks and also what are the different types of software risks and what do you mean by risk management and what are the risk management activities you have all these things i am going to discuss in this video okay let's get started now risks risk sorry i'm really sorry if i'm not pronouncing it correctly risks are nothing but they are the uncertainty or they are uncertainty things no they are uncertain things sorry they are uncertain things that may occur in our software and lead to heavy losses that's all so uncertain in the sense unexpected you can say or some things which we don't want to happen okay so there are some unexpected or you know very bad things that happen in our software and lead to heavy losses got it this is about risks now we actually have two strategies for risk risk for managing the risks okay so first is the reactive risk strategy and the next is a proactive risk strategy so we will see what is the reactive risk and what is proactive and what are the differences between them now got it so first you are clear with the definition of the risk rate now let us see what do you mean by the reactive risk strategy so first of all reactive it says that the corrective measures are taken only when the software enters into the risk that is we will react only when the software is entering into the risk got it so when previously we will not take any preventive measures for the risk after it enters into the risk then we will realize then we will react then we will wake up okay simple next no preventive care is taken that is what i said and correcting or corrected only after occurrence that is only after it occurs only it is corrected older risk management approach of course it is older because nowadays everything is being advanced right initially only we are predicting everything so that is why it is a older risk management approach and if the risks are not solved the product is obviously in danger because we have already you know already risk has occurred so if that risk is not removed because of that risk so many risks may come right so that is why if it is if they are not solved within time then the project will be in the danger got it so this is reactive risk strategy which means we will react only after the risk occurs got it previously we will not take any preventive measures now let us see what do you mean by proactive risk second one is proactive risk strategy here it is complete opposite to reactive risk in reactive what we do once the risk is occurred then we start right here it is not like that it is big it begins before the risk occurs got it first it will identify the risk next will assess the impact of these risks on the software that is how much impact it is going to create on the software whether it is critical or medium or moderate or high or the project is completely gonna crash or it is not going to affect like that first it will assess the impact of that risk on the software next the risks are priorities that is you will be prioritizing the risk based on their impact that is which is having more impact that has to be solved first right so like that yeah high priority risks are managed first high priority risks will be solved first then you will be going to the more priority ones right got it so this is the proactive risk strategy proactive reactive the only difference is reactive you will react only after it has occurred proactive that is before itself before the occurrence of the risk itself you will be very active you will be taking preventive measures and you will be identifying the risk prioritizing them and solving them based on the priority basis got it now next so now we are going to see what are the types of software risks we have okay we actually have six types in total six types of software risks we have so let us see in detail so the first one is project risk so what do you mean by project risks what comes under project risks is nothing but the risks in budget budget and staff requirements schedules so all these will come under the project risks okay the risks which are associated with budget or staff or requirements or schedules all this will come under project risk next comes the technical risk in technical risk you will have some implementation risks like when you are implementing the design which you have thought so during implementation you will be getting the some risks and while implementing the interfaces also because a product will have several modules right so among all these modules you need to establish interfaces so while establishing interfaces also you may get some technical risks next comes the business risk so again in business risk we have some sub types okay first one is market risk market risk is nothing but the risks which are associated with market like no customers in the market to buy our product like that no customers and next comes a strategic strategic risk is nothing but if the product is not following the company policies then the strategic risk may not follow not following companies policies then strategic risk will arise okay next comes the management risk management risk is nothing but when senior manager leaves like i am telling you the example when senior manager leaves the organization because he knows everything he is completely habituated to the organization and all right if somebody new person comes then everything has to be again freshly thought to that person like that next comes the sales risk sales risk in a sense we are not clear about how to sell it's not not having customers not having customers will come under market risk so when we don't know how to sell when we don't know how to sales how to make sales and we don't know how to advertise the products and all you will be getting the sales risk next comes the budget risk budget risk is nothing but loss in budget or low budget like that okay so these are the businesses different types of business risks you have next comes the known risk known risks are nothing but you already know ok this will definitely happen uh whatever we do how much perfectly we do or not this will definitely happen so we have to somehow prepare to clear this that is what known just means next comes a predictable risk predictable risk is nothing but you can predict see when we are when you are implementing or when you are doing the interfaces then you will get right so okay maybe this may happen maybe this risk may occur so you'll be just predicting the things that's all okay unpredictable risk in the sense you cannot predict that you can you will not even think of that area a risk may happen in that area you will not even think in that way okay that is what unpredictable risk which you don't predict which you cannot even imagine or expect okay this is about the types of software risk we have total of six types project risk technical risk business risk and again business we have sub categories known risk predictable and unpredictable risks got it next so the next definition that we are going to learn is let me zoom in so it is risk management so what do you mean by risk management as i said i will be explaining about risk management as well right so risk management is nothing but it is a process of making decisions so that risks in the software can be simply managing the risks reducing the risks okay it is a process of making decisions so that the risks in the software can be reduced or you can also say it is a process of reducing the risks in the software it is a process where the risks in the software can be reduced anything your wish you can add it on your own once you understand that got it again in this risk management also we have several activities through which we can reduce the risk so as i said we have several activities we have total of four activities in risk management the first is risk identification risk projection risk refinement risk mitigation monitoring and management which is in short called as rmm okay so in this video i'm going to stop here in the next video i'll explain about identification projection and refinement in one video and this rmm will take one video one separate video because here we have to discuss about what is mitigation monitoring and management right so it will take one separate video again these three things i will explain you in one video got it so this is about risk types of risk strategies of um you know managing the software risks and what do you mean by risk management and what are the different activities you perform and risk management so all these things we have discussed okay so in the next coming videos we will be discussing about these activities in detail okay done so if you're still having any doubts just let me know in the comment section i'll definitely try to clear your doubt [Music]