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Managing Risk: Methods for Software Systems Development by Ph.D. Elaine M. Hall

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7 Track Risk

The greatest potential for control tends to exist at the point where action takes place.

—Louis A. Allen

Monitoring risk may seem like a passive activity, but that is far from the truth. Risk tracking activities include measuring risk and observing project indicators for valuable information regarding when it is time to execute the risk action plan. An indicator implies a value without specifying the quantity directly (e.g., the number of function points is a size measure that indicates software complexity). Groups of indicators provide visibility into project status (e.g., planned versus actual cost). A leading indicator is one that has a predictive capability (e.g., requirements growth may be a leading indicator for software size). ...

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