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The process of Software risk evaluation and management embodies the identification, analysis, planning, tracking, controlling and communication of risk. Risk assessment methods are one of the most important elements in the process of risk management. This paper is to present the systematic review of Software risk assessment and estimation models. The main emphasis is given to the risk assessment methods based on software metrics like Software Risk Assessment and Estimation Model (SRAEM) and Software Risk Assessment and Evaluation Process (SRAEP) using model based approach because these methods are the latest methods in the field of software risk assessment and estimation.
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