Integrating a lightweight risk assessment approach into an industrial development process

Abstract

Risk assessment is dependent on its application domain. Risk values consist of probability and impact factors, but there is no fixed, unique guideline for the determination of these two factors. For a precise risk-value calculation, an adequate collection of factors is crucial. In this paper, we show the evolution from the first phase until the application of a risk assessment approach in the area of an international insurance company. In such a risk-aware field we have to systematically determine relevant factors and their severity. The final results are melted into a calculation tool that is embedded in the companies development process and used for decision support system. This paper shows the results and observations for the whole implementation process achieved via action research.