Integration of Risk Management With Risk Estimation
Source: Integral University
As estimate is a prediction that is equally likely to be above or below the actual result Risk management partly means reducing uncertainty. Reducing uncertainty has a cost associated with it. The authors need to balance such costs they could incur if the risk is not addressed. Quantification of risks that occur in software projects. The costs of risks analyzed before hand are estimated before starting the project development that is used during the project development.