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Every software project is exposed to adverse external influences, the so called project risks that affect the cost, duration of the project and possibly the quality of the product but without risk, the project becomes lackluster and sometimes can't be completed to the fullest satisfaction. So with risk analysis, it can be determined for a specific project what the risks are. These risks then should be included in a systematic and formal manner in the project estimate in order to obtain a realistic project plan. This paper focuses on the problem of how to manage risk in the software development.
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