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

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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)

  • Jianping Li

    (Institutes of Science and Development, Chinese Academy of Sciences, Beijing, 100190, China†University of Chinese Academy of Sciences, Beijing, 100049, China)

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.

Suggested Citation

  • Dengsheng Wu & Xiaoqian Zhu & Jie Wan & Chunbing Bao & Jianping Li, 2019. "A Multiobjective Optimization Approach for Selecting Risk Response Strategies of Software Project: From the Perspective of Risk Correlations," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 18(01), pages 339-364, January.
    • Handle: RePEc:wsi:ijitdm:v:18:y:2019:i:01:n:s0219622019410013
    DOI: 10.1142/S0219622019410013
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    References listed on IDEAS

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    1. Mohammad Hossein Haghighi & Maryam Ashrafi, 2024. "A novel framework for risk management of software projects by integrating a new COPRAS method under cloud model and machine learning algorithms," Annals of Operations Research, Springer, vol. 338(1), pages 675-708, July.

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