Analysis of Risk Management Through Qualitative Approach
Ravi Sri Abhigna1, Vattipalli Sandeep2, B. Chaitanya Krishna3
1Ravi Sri Abhigna, Student, Department of Computer Science and Engineering, Koneru Lakshmaiah Educational Foundation College of Engineering and Koneru Lakshmaiah University, Vaddeswaram, Guntur (Andhra Pradesh), India.
2Vattipalli Sandeep, Student, Department of Computer Science and Engineering, Koneru Lakshmaiah Educational Foundation College of Engineering and Koneru Lakshmaiah University, Vaddeswaram, Guntur (Andhra Pradesh), India.
3B.Chaitanya Krishna, Professor, Department of Computer Science and Engineering, Koneru Lakshmaiah Educational Foundation College of Engineering and Koneru Lakshmaiah University, Vaddeswaram, Guntur (Andhra Pradesh), India.
Manuscript received on 07 April 2019 | Revised Manuscript received on 20 April 2019 | Manuscript published on 30 April 2019 | PP: 128-132 | Volume-8 Issue-6, April 2019 | Retrieval Number: F3429048619/19©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Risk management processes have always been a crucial part of software development. Risk Management process starts with risk identification. It contains risk identification, risk estimation, mitigation and monitoring. Risk Management system is complex. Risk Management system is challenging since During the system development we face many risks. They require careful processing, planning and execution. This study describes the risks arise during the implementation in risk management system along with an exhaustive list of risk factors. Consequently, this study aims to provide a critical analysis of Risk Management through Qualitative Approach. The methodology used in this project is case study method. The main aim of this research work is to calculate the risk explosure. To calculate this risk explosure here we go through some factors. We considered speed, light, weather, person as the factors of probability and safety, damage cost as the factors of impact. By applying combined probability rule probability and impact are determined. Based on the product of probability and impact here we are going to calculate the risk exposure in occurring accidents. Finally this risk exposure is categorized as low,medium,high. Here we are going to implement this analysis through java interface.
Keyword: Probability, Impact, Risk Exposure, Qualitative Analysis,Combined Probability.
Scope of the Article: Pattern Recognition and Analysis