1) How can you define RISK in the context of a software system development project. Discuss risk identification, avoidance and management and its importance for a software organization to thrive in a very demanding competitive market.

2) How software engineering is different from other engineering disciplines, and what makes it more demanding and difficult discipline?

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1. The concept of risk and its complex implications remain the same for a software development project as those available in a more general context which is not dominated by software-focused activities. A compressed definition of risk in the software environments can be “reduced” to computing an estimation of (1) wrong (undesired) behavior and (2) consequences for the developed product by comparison to its original specifications. However, SDLC introduces risk from at least the following two perspectives: (a) process-related and (b) product-driven....

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