A software process is a series of steps used to solve a problem. The following figure shows a pictorial view of how an organization has defined a way to solve risk problems. In the diagram we have shown two branches: one is the process and the second branch shows a sample risk mitigation process for an organization. For instance, the risk mitigation process defines what step any department should follow to mitigate a risk. The process is as follows:
Identify the risk of the project by discussion, proper requirement gathering, and forecasting.
Once you have identified the risk prioritize which risk has the most impact and should be tackled on a priority basis.
Analyze how the risk can be solved by proper impact analysis and planning.
Finally, using the above analysis, we mitigate the risk.
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