Agile Risk Management Research Articles

The need for a risk management framework for data science projects: a systematic literature review

Many data science endeavors encounter failure, surfacing at any project phase. Even after successful deployments, data science projects grapple with ethical dilemmas, such as bias and discrimination. Current project management methodologies prioritize efficiency and cost savings over risk management. The methodologies largely overlook the diverse risks of sociotechnical systems and risk articulation inherent in data science lifecycles. Conversely, while the established risk management framework (RMF) by NIST and McKinsey aims to manage AI risks, there is a heavy reliance on normative definitions of risk, neglecting the multifaceted subjectivities of data science project failures. This paper reports on a systematic literature review that identifies three main themes: Big Data Execution Issues, Demand for a Risk Management Framework tailored for Large-Scale Data Science Projects, and the need for a General Risk Management Framework for all Data Science Endeavors. Another overarching focus is on how risk is articulated by the institution and the practitioners. The paper discusses a novel and adaptive data science risk management framework – “DS EthiCo RMF” – which merges project management, ethics, and risk management for diverse data science projects into one holistic framework. This agile risk management framework DS EthiCo RMF can bridge the current divide between normative risk standards and the multitude of data science requirements, offering a human-centric method to navigate the intertwined sociotechnical risks of failure in data science projects.

Enhancing agile project success: a comprehensive study of risk management approaches among Malaysian practitioners

AbstractRisk management (RM) plays a role in project management in the software development field. As information technology (IT) systems become more essential across industries and IT projects continue to face failure rates effective project management becomes crucial. However, the utilization of methodologies in risk management is not widely considered, specifically in Malaysia. This study aims to investigate how software practitioners in Malaysia have implemented risk management and discover strategies that can enhance risk management for agile contexts. The main focus of this study is the limited integration of methodologies into risk management practices, which has created a gap within the software risk domain. Successful risk management is essential for the achievement of software projects, and the findings from this study can offer insights for software development organizations to make informed decisions and improve project outcomes. By utilizing a quantitative approach and adapted questionnaires, this comprehensive study collected data from 60 practitioners and conducted descriptive analysis to identify key risk elements that have significant potential to affect project performance. The findings highlight these risk elements that can significantly impact project success. Agile methodologies, with their emphasis on collaboration, communication within teams, and engagement with stakeholders, including top management, are instrumental in aligning project objectives, identifying potential risks, and resolving issues promptly. This study provides empirical insights into the risk management practices of agile practitioners in Malaysia, which can equip software development organizations with valuable knowledge for informed decision‐making. By enhancing project outcomes and guiding future strategic actions, the findings of this study can contribute to the improvement of agile risk management in the software development industry, particularly in the Malaysian context.

Towards Agile Cybersecurity Risk Management for Autonomous Software Engineering Teams

In this study, a framework was developed, based on a literature review, to help managers incorporate cybersecurity risk management in agile development projects. The literature review used predefined codes that were developed by extending previously defined challenges in the literature—for developing secure software in agile projects—to include aspects of agile cybersecurity risk management. Five steps were identified based on the insights gained from how the reviewed literature has addressed each of the challenges: (1) risk collection; (2) risk refinement; (3) risk mitigation; (4) knowledge transfer; and (5) escalation. To assess the appropriateness of the identified steps, and to determine their inclusion or exclusion in the framework, a survey was submitted to 145 software developers using a four-point Likert scale to measure the attitudes towards each step. The resulting framework presented herein serves as a starting point to help managers and developers structure their agile projects in terms of cybersecurity risk management, supporting less overloaded agile processes, stakeholder insights on relevant risks, and increased security assurance.

Developing a mechanism for agile risk management in telecommunications

Subject. The relevance of this topic is underpinned by the growing number of failures of agile projects due to realization of unique set of risks and the fact that standard agile practices neglect important risk management steps. The paper fills the research gaps in this area and addresses inefficiencies in explicit agile risk management frameworks. Objectives. The aim is to develop a risk control mechanism and tools for flexible projects implemented by information and communication industry (ICT) companies. Methods. The theoretical and methodological basis of the research was the explorations of domestic and foreign scientists in the field of risk management of agile projects. We also applied general scientific research methods, including data analysis and synthesis. Results. We developed the mechanism’s concept and the block diagram for scrum framework. They include risk controlling tools, like risk-based release planning, system of key risk indicators, and agile risk controlling, using the effectiveness evaluation tree. Unlike peers mentioned in existing studies, the mechanism provides a holistic approach to the agile risk management while keeping the agile spirit. It addresses risk governance issues, ensures integration and coordination of risk management activities, both inside the team and across the company, and provides for efficient tools. Conclusions. The developed mechanism can be adapted for other agile frameworks and can be applied by scrum masters and project managers in the ICT industry, as well as by the researches who are interested in further enhancement of agile risk management practices.

Agro‐climate services and drought risk management in Jamaica: A case study of farming communities in Clarendon Parish

For many generations, Caribbean smallholder farmers have used traditional knowledge to manage drought impacts. However, patterns of increased climate variability increasingly challenge traditional drought management practices, creating livelihood insecurities and uncertainties. Climate Information Services (CIS) have been promoted as an agile risk management strategy to help farmers negotiate challenges of increased climate extremes. Yet, despite the promise and possibilities of CIS, there is limited evidence of CIS uptake and associated risk reduction across the Caribbean. A mixed‐method research approach is used to examine the uptake of CIS among farmers (N = 356), testing the association with selected drought impact outcomes in one of Jamaica's breadbasket regions. The associations between drought impacts and farmer accessibility and use of four (4) locally available CIS are assessed. Results indicate limited farmer uptake of mobile text and online climate information products, with less than 5 per cent of the sample having accessibility to online CIS. Farmers who are aware of, and use CIS, reported lower crop losses, less financial strain, and were more likely to reinvest immediately after drought events. These results provide empirical evidence of associations between farm‐level use of CIS and drought risk management actions, which could be used to inform future drought management interventions.

Agile Risk Management as a Solution to the Failure of Kenyan Public Projects

Risk management is key in determining the success of a project. Despite adoption of risk management by the public sector in Kenya, research has shown that up to 79.2% of the construction projects still fail whether in terms of experiencing delays, cost overruns or failure to meet the expected quality. The main aim of this study was to establish whether Agile Risk Management principles present a practical improvement to the predominant practice of risk management in the Kenyan public sector. Data was collected from a team of Architects, Engineers and Quantity Surveyors in the State Department of Public Works, Nairobi, using questionnaires and an interview. Results obtained showed that risks are directly related to the causes of failure of these Kenyan public projects and therefore improving risk management practices will promote the success of these projects. It was also evident from the study that the predominant approach to risk management in Kenya was Traditional Risk Management. The Agile Risk Management principles are hardly implemented in Kenya owing to the fact that professionals are not aware of this approach. Upon further analysis, this study established that the adoption of some Agile Risk Management principles is indeed a solution to the failure of Kenyan public projects as it presents a practical improvement to the predominant risk management practices. This study brings to light the need to closely examine the risk management practices in Kenya generally in both the public and private sectors. Another implication of this study is that it highlights the need of professional bodies and other relevant authorities to create more awareness on this and other approaches to risk management among their members.

COVID-19: Optimizing Business Performance through Agile Business Intelligence and Data Analytics

The current COVID-19 pandemic has led to a devastating socio-economic predicament, which has resulted in the temporary closure and collapse of thousands of businesses across the globe. The quicker companies can respond to the current pandemic situation, the more likely their chances of surviving in the short or long term. Businesses around the world are compelled to make significant changes to their business operations, such as downsizing, product, and service diversification. To address these changes quickly, companies need to adopt or capitalize on their business intelligence strategies through agile risk management, artificial intelligence systems, and data analytics to help make informed decisions to enhance business operations amid COVID-19. This article outlines some practical and theoretical recommendations of business intelligence strategies for organizations and their service supply chain network on how to be adaptive, flexible, and innovative to survive and stay competitive during these challenging times by leveraging agile dimensions, artificial intelligence systems, and data analytics.

THE PLACE OF RISK MANAGEMENT IN AGILE METHODOLOGY

Risk Management is an organized decision-making process that efficiently plans, assesses, handles, monitors, and documents risk to increase the likelihood of achieving project goals and decrease the likelihood that a risk would become a future problem. The introduction of agile project management as a methodology in organizations poses new challenges to risk management. Although some of the conventional methods can be applied, it is important to take into account the specific characteristics of the agile methodology. This implies a more dynamic application of a set of methods and techniques for identifying, analyzing, assessing, and affecting risk. Risk management is a complex activity requiring a specific approach in terms of the capacity of an organization and the characteristic features of projects. Risk management is an important part of the integrated project management framework. It is not a coincidence that this process is included in the methodologies of the Project Management Institute and the International Project Management Association as well as in a number of standards.Risk management is a complex activity requiring a specific approach in terms of the capacity of an organization and the characteristic features of projects. This means that even when standard rules, procedures, methods and techniques for project risk management exist, they need to be adapted to each particular case, analyzed and verified in the course of their implementation. Thus, this process can be highly effective.Organizations’ expectations of enhancing their effectiveness through risk management pose new challenges to project risk management methods and techniques. The dynamics of environmental factors – internal and external – is the main prerequisite for the attention managers pay to this process.It is important to note that each project is specific and standardized risk management systems would be not only difficult to implement, but also ineffective. The agile approach to project management implies agile risk management. This means that standard risk management methods, techniques and limitations need to be adapted to the specifics and complexity of a project on the one hand, the requirements of stakeholders, and the team and organizational capacity, on the other.The report focuses on issues related to agile project management, the integration of risk management into the project management process, and some contributing points of the agile methodology to improving the effectiveness of the project management process. Risk is presented as an unforeseen event that may have a positive or negative impact on project goals. The main advantages of agile risk management in a project and the possibility of integrating it with the overall project management are highlighted.

OPPORTUNITY FOR MANAGING PROJECT RISK BY APPLYING AGILE METHODOLOGY

The article focuses on issues related to agile project management, the integration of risk management into the project management process, and some contributing points of the agile methodology to improving the effectiveness of the project management process. Risk is presented as an unforeseen event that may have a positive or negative impact on project goals. The main advantage of agile risk management in a project is highlighted. The article also presents basic standards and methodologies for project management. Opportunities for applying the values and principles of flexible methodology in the risk management process are outlined. The main advantages of the flexible project management methodology are presented, focusing on the relationship with risk management. The introduction of agile project management as a methodology in organizations poses new challenges to risk management. Although some of the conventional methods can be applied, it is important to take into account the specific characteristics of the agile methodology. This implies a more dynamic application of a set of methods and techniques for identifying, analyzing, assessing, and affecting risk. An important factor in managing risk when applying the agile methodology is to identify the positively influencing unforeseen factors and accordingly to benefit from their favorable effects on project and organizational goals, i.e. a wider definition of risk associated with unforeseen circumstances, positive or negative, which arise in the course of project implementation is adopted here. This unconventional view allows for a higher value of project outcomes and effects as a consequence of emerging risks that have a positive impact on project goals. It is not possible for risk management to be a process independent of the project management process. Although in conventional risk management methodologies management is part of the project management, with agile methodology, things are slightly different. This is because agile project management methodology does not apply standardized processes and procedures. It leaves a project to develop naturally and in line with stakeholders’ requirements. Risk management consists of a particular sequence of activities applicable to both traditional and agile project management. The process includes as follows: risk identification, assessment and analysis, developing response strategies, monitoring and reporting. These activities, performed in a short timeframe and towards specific, simple and clear tasks, lead to significant reduction of the negative project risk and contribute to the occurrence of positive unforeseen events. It is important to note that risk management is thus simplified and becomes a much easier to be understood and properly implemented process by anyone involved in project implementation. Reducing the cost of risk management is a major asset of agile project management. Preliminary control is sporadic, with emphasis on early diagnosis and agile response. All this makes the agile project management methodology and risk management in a dynamic project environment more and more up to date.

Agile risk management for multi‐cloud software development

Industry in all sectors is experiencing a profound digital transformation that puts software at the core of their businesses. In order to react to continuously changing user requirements and dynamic markets, companies need to build robust workflows that allow them to increase their agility in order to remain competitive. This increasingly rapid transformation, especially in domains like IoT or Cloud computing, poses significant challenges to guarantee high quality software, since dynamism and agile short-term planning reduce the ability to detect and manage risks. In this paper, we describe the main challenges related to managing risk in agile software development, building on the experience of more than 20 agile coaches operating continuously for 15 years with hundreds of teams in industries in all sectors. We also propose a framework to manage risks that considers those challenges and supports collaboration, agility, and continuous development. An implementation of that framework is then described in a tool that handles risks and mitigation actions associated with the development of multi-cloud applications. The methodology and the tool have been validated by a team of evaluators that were asked to consider its use in developing an urban smart mobility service and an airline flight scheduling system.

Agile risk management using software agents

Risk management is an important process in Software Engineering. However, it can be perceived as somewhat contrary to the more lightweight processes used in Agile methods. Thus an appropriate and realistic risk management model is required as well as tool support that minimizes human effort. We propose the use of software agents to carry out risk management tasks and make use of the data collected from the project environment to detect risks. This paper describes the underlying risk management model in an Agile risk tool where software agents are used to support identification, assessment and monitoring of risk. It demonstrates the interaction between agents, agents’ compliance with designated rules and how agents can react to changes in project environment data. The results, demonstrated using case studies, show that agents are of use for detecting risk and reacting dynamically to changes in project environment thus, help to minimize the human effort in managing risk.