Integrated project risk management in program context

Abstract: Ericsson Money Services as a financial software program develops mobile services the aim of which is to provide worldwide money transactions. The development of the service includes multifunctional processes and a number of partnering organizations hence emerging hindrances in uncertainty management and risk assessment. On the one hand the vast influence of the external factors on the program and on the other hand the multiple projects running under the same program hamper to apply the traditional risk management approaches effectively. Financial programs encompass variety of dynamic processes and the risk management process becomes a momentous activity to be done thoroughly. This thesis work examines the main issues of traditional risk management methods while applying in financial software development processes at the same time provides a stepwise procedure to guide what information must be collected and registered, how the evaluation processes must be carried out and what approaches to apply in order to succeed in the risk management activities in program level. The information that we provide on how to register the potential hazardous events is not optional for any financial software program as it can be specific dependent on external influencing factors. Conversely the estimation methods are all-embracing and do not require further examination in its application in other software programs. The specified eight plus one steps of risk management iteration herein framework provides a complete guide on how to carry out the risk management activity without other supportive guidance and additional advanced knowledge in the field. The examples we cite in the thesis are chosen both concerning to the field and simple life situations to be easily graspable. The risk-specific information that must be registered is discussed and guided. In addition the procedure that we present and the information that must be collected specifically for Ericsson Money Services operation are implemented and provided in the tool of UniRisk.