Risk Management in Web Development

Abstract

This chapter describes how risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities. The National Institute of Standards and Technology, actuarial societies, and ISO standards has developed various risk management standards. The standards (methods, definitions and goals) are created in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety.