A Multiobjective Optimization Approach for Selecting Risk Response Strategies of Software Project: From the Perspective of Risk Correlations

Dengsheng Wu, Xiaoqian Zhu, Jie Wan, Chunbing Bao and Jianping Li
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Dengsheng Wu: Institutes of Science and Development, Chinese Academy of Sciences, Beijing, 100190, China†University of Chinese Academy of Sciences, Beijing, 100049, China
Xiaoqian Zhu: Institutes of Science and Development, Chinese Academy of Sciences, Beijing, 100190, China
Jie Wan: Institutes of Science and Development, Chinese Academy of Sciences, Beijing, 100190, China†University of Chinese Academy of Sciences, Beijing, 100049, China
Chunbing Bao: Institutes of Science and Development, Chinese Academy of Sciences, Beijing, 100190, China†University of Chinese Academy of Sciences, Beijing, 100049, China

International Journal of Information Technology & Decision Making (IJITDM), 2019, vol. 18, issue 01, 339-364

Abstract: Studies on software risk response theories and methods play an important role in improving the success rate of software project. With the requirement of software risk management, the existing single-objective risk response strategies section model is difficult to manage software risks effectively. This paper regards software risk response cost and software risk exposure as optimization objectives and proposes a multiobjective risk response strategies optimization model for software project. Furthermore, it analyzes the risk correlation from the perspective of risk probability dependence and risk loss interaction and puts forward a multiobjective risk response strategies optimization model for software project from the perspective of risk correlation. Empirical analysis results show that there is a trade-off relationship between the software risk exposure and software risk response cost. The software manager can identify the corresponding optimal risk response strategies according to the actual risk response budget. The results also indicate that the consequence of the multiobjective risk response strategies optimization model for software project considering risk correlation can better describe the actual situation of risk management.

Keywords: Software risk; risk response strategy; risk correlation; multiobjective optimization; multiobjective particle swarm optimization (MOPSO) (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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DOI: 10.1142/S0219622019410013

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