Risk Management In An

Agile Lifecycle
ITPM Group 9
What is Agile Development ? Brief Overview

• Agile project delivery uses an iterative, team-based approach to project

management, emphasizing the rapid delivery of a solution in an incremental
and iterative fashion and focusing on business value and progress visibility.
• Rather than creating tasks and schedules, Agile boxes time into segments called
“sprints”.
• Each sprint has a defined duration (usually one to four weeks) with a running
list of deliverables planned one sprint in advance.
Risk Management in the Agile Lifecycle

• Agile risk management has 4 steps that are implemented.

• These are namely:
1. Setting context
2. Risk assessment steps: identify, analyze and Determine
3. Implementing Risk Response plan
4. Monitoring Risk
Setting Context

• Risk is discussed at the project kickoff and for each sprint start.
• When the project starts, uncertainty is explored with stakeholders(e.g. Project
team, subject matter experts) by identifying risk for the overall project and
the already-known requirements which were discussed in workshop settings.
• The stakeholders assess these risks and determine what actions to take and
usually they tackle the highest risk in the sprint cycle
Risk assessment steps: identify, analyse,
determine

• Step 1 – Identify: Identifying any risks is usually done at the start

of the project. Common risk categories include cost, schedule,
technical and human resources.
• Step 2 – Analyze: Estimating how likely the risk is to occur and how
much impact it could have on the project
• Step 3 – Determine: Produce a plan of action using a risk response
plan
Implementing risk response plan

• A risk response plan is a set of actions that are followed to reduce

or eliminate the impact of a risk. A risk response plan can also be
implemented if the risk does occur.
• When coming up with a risk response plan 2 things are essential:
• A trigger point
• Assigning responsibility
Monitoring risk

• This step is why it’s important to have regular project meetings

• This involves evaluating the risk response process to see if
everything is going according to plan
• Track identified risk as status can change