Introduction
Risk management is the process of implementing countermeasures to achieve an acceptable level of risk; at an acceptable cost. By examining (in-depth) the potential threats faced by an organization, a better understanding of business risk can be gained that will lead to identifying strategies, techniques, approaches, or countermeasures that reduce or mitigate impact. Generally, this can be achieved by asking three basic questions:
• What can go wrong?
• What will we do?
• If something happens, how will we pay for it?
Thinking about these questions in context of an organization, it might become clear that there are some areas where risk management could be applied, such as weaknesses in the software development ...
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