Stochastic simulation of risk factor potential effects for software development risk management

One of the proposed purposes for software process simulation is the management of software development risks, usually discussed within the category of project planning/management. However, modeling and simulation primarily for the purpose of software development risk management has been quite limited. This paper describes an approach to modeling risk factors and simulating their effects as a means of supporting certain software development risk management activities. The effects of six common and significant software development risk factors were studied. A base model was then produced for stochastically simulating the effects of the selected factors. This simulator is a tool designed specifically for the risk management activities of assessment, mitigation, contingency planning, and intervention. (C) 2001 Elsevier Science Inc. All rights reserved.