MRMM: A Mathematical Risk Management Model for Iterative IT Projects based on the Smart Database
Keywords:
Budget Estimation, Iterative IT Projects, Risk Management, Smart DatabaseAbstract
The increasing advancement in information
technology industry is compatible with the changing nature of the world. While software is important for all facets of the modern world, software development itself is not a perfect process. Iterative software development methods have recently emerged as a new and better way of developing software as compared to traditional methodologies. These methods are developed to make prompt changes in a constantly changing world. The more modern the technology and the methods are, the newer the risks that must be properly controlled and managed. Therefore, focusing on risk management process in IT projects will lead to applicable results. Due to the high failure rate in IT projects, increasing the focus on risk management seems essential
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