# Graphical Visualization of Risk Assessment for Effective Risk Management during Software Development Process

**Authors:** Raghavi K Bhujang, Suma. V  
**arXiv:** [1210.1291](https://arxiv.org/abs/1210.1291)  
**Date:** 2012-10-04  
**Summary page:** https://www.summarizepaper.com/en/arxiv-id/1210.1291v1/

## Key points

- The success of IT industry projects is heavily reliant on factors such as cost, time, and resource availability.
- Risk management aims to anticipate and prevent potential risks by identifying them, devising contingency plans, and implementing mitigation strategies.
- Effective risk management is crucial for organizations to ensure sustainability in a competitive environment.
- Visualizing risk assessment through a graphical model can help project personnel identify potential risks, understand their frequency and impact, and prioritize them accordingly.
- By representing risk assessment factors graphically, organizations can accurately predict project success rates and improve outcomes in dynamic business landscapes.

## Summary

The success of any IT industry is heavily reliant on the success rate of their projects. This success rate is influenced by various factors such as cost, time, and the availability of resources. These factors give rise to risk areas that must be proactively addressed. The primary goal of risk management is to anticipate and prevent potential risks by identifying them, devising contingency plans, and implementing mitigation strategies to minimize their impact. Effective risk management is a critical challenge for organizations as it ensures their continued sustainability in a highly competitive environment. In their paper titled "Graphical Visualization of Risk Assessment for Effective Risk Management during Software Development Process," authors Raghavi K Bhujang and Suma. V provide insights into visualizing risk assessment through a graphical model. This visualization technique aids project personnel in identifying all potential risks, understanding their frequency and probability of occurrence, analyzing the impact of these risks, and prioritizing them accordingly. By representing risk assessment factors in a graphical format, organizations can accurately predict the success rate of their projects. The study presented in this paper was published in the International Joint Conference on Emerging Intelligent Sustainable Technologies (EISTCON-2012) and offers valuable contributions to enhancing risk management practices within IT industries. With 5 pages, 5 figures, and 3 tables, this research provides a comprehensive framework for effectively managing risks during software development processes. By leveraging graphical visualization techniques, organizations can enhance their ability to mitigate risks and improve project outcomes in today's dynamic business landscape.