Exploring Innovative Approaches for Software Development Risk Assessment and Management

The success of software development projects is significantly impacted by various risk factors, both predictable and unpredictable. This literature review aims to explore and evaluate innovative risk assessment and management techniques in software development. Using the Systematic Literature Review (SLR) method, this study reviews existing research on new software development risk assessment and management methods. This extensive review highlights various approaches, tools, and strategies for identifying, evaluating, and mitigating risks in software projects. The results underscore the importance of creative solutions in tackling risk management challenges. Practitioners are encouraged to adopt innovative methods for risk assessment and management as the field of software development evolves. Furthermore, this study recommends that researchers continue to investigate emerging trends and challenges in risk management. Emphasis is placed on developing hybrid models that combine traditional and innovative approaches, examining risk management practices in new technologies such as AI and machine learning, and addressing cultural and organisational barriers to adopting new techniques. Collaboration and knowledge sharing between practitioners and researchers are expected to improve risk management practices in software development significantly.