Factor reduction and clustering for operational risk in software development

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dc.contributor.author Mohd-Rahim, FA en
dc.contributor.author Wang, C en
dc.contributor.author Boussabaine, H en
dc.contributor.author Abdul-Rahman, H en
dc.contributor.author Wood, Lincoln en
dc.date.accessioned 2016-04-29T05:35:17Z en
dc.date.issued 2014-09 en
dc.identifier.citation Journal of Operational Risk, 2014, 9 (3), pp. 53 - 88 en
dc.identifier.issn 1744-6740 en
dc.identifier.uri http://hdl.handle.net/2292/28698 en
dc.description.abstract Software development failures frequently emerge as a result of the failure to understand and to identify risks. The aim of this paper is to identify the most salient risk factors during a software development project lifecycle, in terms of occurrence likelihood and impacts on cost overrun. A questionnaire survey was circulated to 2000 software development companies, IT consultancy and management companies, and web development companies in the UK, USA, Europe, India, China, Japan, Canada, Australia and Asian countries. This asked respondents to evaluate a number of risk factors. However, many factors were closely related and so we apply a factor reduction and clustering process to allow a smaller number of crucial risk factors to be identified. The three main clusters of risk factors identified in this study are ‘feasibility study’, ‘project team management’, and ‘technology requirements’. While ‘feasibility study’ may be unlikely to occur it can have significant impact on outcomes; ‘project team management’ is likely to occur but has relatively little impact on outcomes in comparison to ‘technology requirements’. Professionals will need to carefully check and balance these factors and generate a risk mitigation plan to reduce the severity of the project failures. These results allow them to connect the probability of occurrence and overall impact to focus their scarce resources on reducing the most pertinent risks in their project. en
dc.description.uri http://www.risk.net/type/journal/source/journal-of-operational-risk en
dc.publisher Incisive Risk Information (IP) Limited en
dc.relation.ispartofseries Journal of Operational Risk en
dc.rights Items in ResearchSpace are protected by copyright, with all rights reserved, unless otherwise indicated. Previously published items are made available in accordance with the copyright policy of the publisher. Details obtained from http://www.risk.net/type/technical-paper/source/journal-of-operational-risk en
dc.rights.uri https://researchspace.auckland.ac.nz/docs/uoa-docs/rights.htm en
dc.title Factor reduction and clustering for operational risk in software development en
dc.type Journal Article en
pubs.issue 3 en
pubs.begin-page 53 en
pubs.volume 9 en
dc.rights.holder Copyright: Incisive Risk Information (IP) Limited en
pubs.author-url http://www.risk.net/journal-of-operational-risk/journal/2367640/latest-issue-of-the-journal-of-operational-risk-93 en
pubs.end-page 88 en
pubs.publication-status Published en
dc.rights.accessrights http://purl.org/eprint/accessRights/RestrictedAccess en
pubs.subtype Article en
pubs.elements-id 516298 en
dc.identifier.eissn 1755-2710 en
pubs.record-created-at-source-date 2016-01-08 en

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