A New Mathematical Risk Management Model for Agile Software Development Methodologies

Abstract

This paper proposes a new mathematical model for estimating the cost of explicit Agile software development risk management with its Impact Benefit s (savings/profits). This is necessitated by the fact that despite the increase in the need for managing risks explicitly in medium-to-large scale agile software development projects presently, there are no known ways to estimate explicit risk management costs/benefits. With the proposed model, explicit risk management procedures alongside with risk management estimation techniques is made known to Stakeholders who will be able to make the right decisions on risk management costs and its impacts as well as when to utilise implicit or explicit risk management. The proposed system proves to be feasible and dependable and is evidently capable of enhancing the agile methods for use for all sizes of software projects while still maintaining the swiftness of the agile process.