• EXECUTIVE PROGRAMME IN INVESTMENT BANKING AND CAPITAL MARKETS
  • Advanced Certification Program In Cyber Security
  • ADVANCED MANAGEMENT PROGRAM IN FINANCIAL SERVICES AND CAPITAL MARKETS
  • IIM Indore Postgraduate Certificate Programme for Emerging CFOs
  • POSTGRADUATE PROGRAM IN BANKING AND FINANCE
  • PGP in New Age Banking
    Co-created with Imarticus Learning
    4.8 out of 5 by 669 learners
    4x Industry Demand
  • POST GRADUATE DIPLOMA IN MANAGEMENT
    Co-created with BIMTECH
    4.8 out of 6071 learners
    2x industry demand
  • POST GRADUATE PROGRAM IN CYBERSECURITY
    Co-created with EC-Council
    4.9 out of 897 learners
    2x industry demand
  • CERTIFICATION IN SOFTWARE ENGINEERING FOR CLOUD, BLOCKCHAIN AND IOT
    Co-created with E&ICT Academy, IIT Guwahati
    4.8 out of 5 by 815 learners
    4x industry demand
  • MBA in Investment Banking
    Co-created with Jain University
    4.5 out of 5 by467 learners
    2x industry demand

 

Most software development organisations today use Scrum or some other Agile methodology to streamline their processes. While they do have their own obvious benefits, many people do complain at times that Scrum has no clear Risk Management steps for the Scrum Master to follow – the fact is that Scrum does have a five-step plan which is meant to address the issues of risk in a structured manner.

The Scrum Master is in charge of ensuring that the team functions without any impediments on the way, and removing any obstructions which are holding the team back. Therefore, this is how a Scrum Master commonly deals with risk.

Risk Identification
With the help of the Scrum Product Team, the Master should try and identify all the risks which could potentially have an impact on the project. This is done also by looking at the product from a host of perspectives and using some other techniques. Risk identification is a constant process, and the Identified risks even become inputs to many Scrum processes like Demonstrate and Validate Sprint.

Risk Assessment
After identifying the risks, you have to now understand what the impact of each risk may be on the project. The overall business value in the worst case scenarios can be calculated, and you can also check if the risks outweigh the implications of the project itself – in that case, you should think whether it is apt to even continue the process. Probability Trees, Pareto Analysis and a Probability and Impact Matrix, can be used to understand the impacts the risks may have.

Risk Prioritization
As a result of the first two steps, you have a list of the possible risks which could impact the project and an idea of how big each risk is. In this step, therefore, you will have to priorities the risks based on their chances of occurring and implications on the projects. This priority list will come in handy in the next couple of steps.

Risk Mitigation
Risk can be mitigated by using a number of responses from Scrum, from which the best option is to formulate a plan B for you to fall back on. You can either be proactive about the risk, or reactive about it. Proactive is about trying to prevent the risk in an active fashion, which being reactive is about trying to mitigate the results of the risk after they have happened.

Risk Communication
Every project has a lot of stakeholders who are worried about how the project is progressing. It is important to communicate to these stakeholders, not just the owners, about the risks and their potential impact on the project. You should also explain the measures you have taken in order to mitigate the effects of the risk. This is not the last step in the process – rather, it is a parallel step which should be done throughout the first four steps.

If you find yourself interested in learning more, you should check out the Agile business analyst and Scrum prodegree with SAP on offer at Imarticus Learning.

For Online Course Enquiries
About Imarticus
Imarticus Learning is India’s leading professional education institute that offers training in Financial Services, Data Analytics & Technology. We’ve successfully transformed careers of over 35,000+ individuals globally through our Certification, Prodegree, and Post Graduate programs offered in association with leading and renowned global organisations in the Financial Services, Data Analytics & Technology domain.
Related course
  • Certification
    EXECUTIVE PROGRAMME IN INVESTMENT BANKING AND CAPITAL MARKETS
    Course duration(year)
    1
    Upcoming batches
    1
    Organizations enrolled
    20
    Upcoming Batches
    Date Location Schedule
    Date Location Schedule
  • Advanced
    Advanced Certification Program In Cyber Security
    Course duration(months)
    6
    Upcoming batches
    1
    Organizations enrolled
    20
    Upcoming Batches
    Date Location Schedule
    Date Location Schedule
  • Advanced Management Program
    ADVANCED MANAGEMENT PROGRAM IN FINANCIAL SERVICES AND CAPITAL MARKETS
    Course duration(hours)
    126
    Upcoming batches
    1
    Organizations enrolled
    20
    Upcoming Batches
    Date Location Schedule
    Date Location Schedule
  • Postgraduate Program
    IIM Indore Postgraduate Certificate Programme for Emerging CFOs
    Course duration(Months)
    12
    Upcoming batches
    1
    Organizations enrolled
    20
    Upcoming Batches
    Date Location Schedule
    Date Location Schedule
  • Postgraduate
    POSTGRADUATE PROGRAM IN BANKING AND FINANCE
    Course duration(months)
    4
    Upcoming batches
    1
    Organizations enrolled
    20
    Upcoming Batches
    Date Location Schedule
    Date Location Schedule
  • Placement Program
    PGP in New Age Banking
    Co-created with Imarticus Learning
    Course duration(Months)
    24
    Upcoming batches
    1
    Organizations enrolled
    20
    4.8 out of 5 by 669 learners
    4x Industry Demand
    Upcoming Batches
    Date Location Schedule
    8th Jan 2022 Live Instructor - Led Training Online
    Date Location Schedule
  • Finance
    POST GRADUATE DIPLOMA IN MANAGEMENT
    Co-created with BIMTECH
    Course duration(Months)
    24
    Upcoming batches
    1
    Organizations enrolled
    20
    4.8 out of 6071 learners
    2x industry demand
    Upcoming Batches
    Date Location Schedule
    3rd August Live Instructor - Led Training Online
    Date Location Schedule
  • Placement on Eligibilty Criteria
    POST GRADUATE PROGRAM IN CYBERSECURITY
    Co-created with EC-Council
    Course duration(Months)
    6
    Upcoming batches
    1
    Organizations enrolled
    20
    4.9 out of 897 learners
    2x industry demand
    Upcoming Batches
    Date Location Schedule
    3rd August Live Instructor - Led Training Online
    Date Location Schedule
  • Placement Assistance
    CERTIFICATION IN SOFTWARE ENGINEERING FOR CLOUD, BLOCKCHAIN AND IOT
    Co-created with E&ICT Academy, IIT Guwahati
    Course duration()
    Upcoming batches
    1
    Organizations enrolled
    20
    4.8 out of 5 by 815 learners
    4x industry demand
    Upcoming Batches
    Date Location Schedule
    3rd August ONLINE Online
    Date Location Schedule
  • Recent Graduates
    MBA in Investment Banking
    Co-created with Jain University
    Course duration(Months)
    24
    Upcoming batches
    1
    Organizations enrolled
    20
    4.5 out of 5 by467 learners
    2x industry demand
    Upcoming Batches
    Date Location Schedule
    31st July ONLINE Online
    Date Location Schedule