Recent Advances in Risk Analysis and Management (RAM)
Keywords:
risk, Risk Analysis and Management (RAM), Recent Work in RAM, Future Directions in RAMAbstract
In today‟s age, organizations consider software development process as an investment activity which is dependent on the comprehensive and precise working of each phase in Software Development Lifecycle. Flaws from each phase could remain undetected starting from requirement phase till maintenance phase. The flaw or defects if left unattended in the respective phase will be carried forward to next phase aggregating the issues. These undetected flaws should be identified and removed as early as possible so as to reduce additional overheads. From the data available, it is concluded that risk analysis is a major factor which is ignored during all the phases of software development process resulting in the emergence of undetected defects and flaws. Because of the failure of many projects, the importance of risk analysis during software development process is now being well recognized. A series of reversed as well as assorted researches are proceeding towards analyzing the risk „right from the beginning‟ during the software development process. Through researchers have contributed significantly in the field, still more needs to be achieved. This paper presents a review of the current research being done in Risk Analysis and Management (RAM), based on the recently published work. The study is carried out with respect to analysis and management of risk in various phase of SDLC. Such a thorough review enables one to identify mature areas of research, as well as areas that need further investigation. Finally, after critical analysis of the current research findings, the future research directions are highlighted with their significance.
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