• Post Graduate Program in Business Management with NMIMS
    Co-created with NMIMS
    4.8 out of 5 by 6071 learners
    4x Industry Demand
  • Post Graduate Program in Banking and Credit Underwriting
    4.7 out of 5 by 1376 learners
    12 X industry demand
  • Post Graduate Program for Agile Business Analyst
    4.8 out of 5 by 2789 Learners
    3X industry demand
  • Post Graduate Program In Finance And Accounting
    Co-created with Grant Thornton
    4.9 out of 5 by 238 learners
    14 X industry demand
  • Agile Business Analyst and Scrum Prodegree
    Co-created with SAP
    4.7 out of 5 by 3208 learners
    12 X industry demand
  • Full Stack Developer Certification Program
    4.7 out of 5 by 2031 learners
    13 X industry demand
  • Professional Certification in FinTech
    Co-created with SP Jain School of Global Management
    4.8 out of 5 by 534 learners
    6X industry demand
  • Credit Risk and Underwriting Prodegree
    Co-created with Moody’s Analytics
    4.5 out of 5 by 526 learners
    4X industry demand
  • Banking And Wealth Management Bootcamp
    4.7 out of 5 by 460 learners
    3X industry demand
  • Post Graduate Program In Capital Markets
    4.7 out of 5 by 807 learners
    3X 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
  • Placement Program
    Post Graduate Program in Business Management with NMIMS
    Co-created with NMIMS
    Course duration(Months)
    24
    Upcoming batches
    1
    Organizations enrolled
    20
    4.8 out of 5 by 6071 learners
    4x Industry Demand
    Upcoming Batches
    Date Location Schedule
    ONLINE Online
    Date Location Schedule
  • Post Graduate
    Post Graduate Program in Banking and Credit Underwriting
    Course duration(6)
    Upcoming batches
    1
    Organizations enrolled
    20
    4.7 out of 5 by 1376 learners
    12 X industry demand
    Upcoming Batches
    Date Location Schedule
    Not Available MUMBAI Online
    Date Location Schedule
  • Post Graduate
    Post Graduate Program for Agile Business Analyst
    Course duration(6)
    Upcoming batches
    1
    Organizations enrolled
    20
    4.8 out of 5 by 2789 Learners
    3X industry demand
    Upcoming Batches
    Date Location Schedule
    25th July BANGALORE-KORAMANGALA Weekend
    Date Location Schedule
  • Post Graduate
    Post Graduate Program In Finance And Accounting
    Co-created with Grant Thornton
    Course duration(months)
    4
    Upcoming batches
    1
    Organizations enrolled
    20
    4.9 out of 5 by 238 learners
    14 X industry demand
    Upcoming Batches
    Date Location Schedule
    None DELHI Online
    Date Location Schedule
  • Prodegree
    Agile Business Analyst and Scrum Prodegree
    Co-created with SAP
    Course duration(Months)
    3
    Upcoming batches
    1
    Organizations enrolled
    20
    4.7 out of 5 by 3208 learners
    12 X industry demand
    Upcoming Batches
    Date Location Schedule
    30th-May ONLINE Weekend
    Date Location Schedule
  • CERTIFICATION
    Full Stack Developer Certification Program
    Course duration(weeks)
    15
    Upcoming batches
    1
    Organizations enrolled
    20
    4.7 out of 5 by 2031 learners
    13 X industry demand
    Upcoming Batches
    Date Location Schedule
    None AHMEDABAD Weekday
    Date Location Schedule
  • Certification
    Professional Certification in FinTech
    Co-created with SP Jain School of Global Management
    Course duration(Months)
    3
    Upcoming batches
    1
    Organizations enrolled
    20
    4.8 out of 5 by 534 learners
    6X industry demand
    Upcoming Batches
    Date Location Schedule
    ONLINE Online
    Date Location Schedule
  • PRODEGREE
    Credit Risk and Underwriting Prodegree
    Co-created with Moody’s Analytics
    Course duration(Months)
    3
    Upcoming batches
    1
    Organizations enrolled
    20
    4.5 out of 5 by 526 learners
    4X industry demand
    Upcoming Batches
    Date Location Schedule
    13th February ONLINE Weekend
    Date Location Schedule
  • Certification
    Banking And Wealth Management Bootcamp
    Course duration(Months)
    2-3
    Upcoming batches
    1
    Organizations enrolled
    20
    4.7 out of 5 by 460 learners
    3X industry demand
    Upcoming Batches
    Date Location Schedule
    30th January LUCKNOW Weekend
    Date Location Schedule
  • Post Graduation
    Post Graduate Program In Capital Markets
    Course duration(months)
    4
    Upcoming batches
    1
    Organizations enrolled
    20
    4.7 out of 5 by 807 learners
    3X industry demand
    Upcoming Batches
    Date Location Schedule
    Not Available ONLINE Online
    Date Location Schedule