| Small software development companies exhibit poor response toward risk because they either do not have a formal risk management approaches or rely on an informal one. This project presents the development of an innovative risk management methodology in a startup company working on short lifecycle projects. The methodology includes identifying and valuing the risks of projects, giving priority to the most relevant risks, and developing strategies to deal with the major risks in a proactive way throughout the duration of project. The proposed approach combines existing methodologies for risk management, such as the ones developed by the SEI (Software Engineering Institute) and the PMI (Project Management Institute) and statistical techniques such as factor and regression analyses. The methodology proposed in this project can be extended to other companies with similar characteristics. This project provides empirical evidence of risk assessment in the field of Information Technology, an aspect notably absent in the literature. |
