Reputation and reputation risk both are estimated during the project and the way it progresses while crossing its milestones. The customer is the last milestone in any project and it is the external agency like customer or the market from where the reputation or reputation risk is established about a product. Reputation and reputation risk are inversely proportional to each other. The Reputation on one hand brings in more business and orders. The higher reputation risk brings in a threat of lowering in business or product sale.
No organization or product owner wishes for a higher reputation risk. Though every product is associated with some percentage of reputation risk it will be foolish for a product owner or project manager if the risk assessment is not done well in advance and the appropriate steps are not taken in advance to mitigate the risk.
Six major contributors to the software project are:
1. Customer – end users, customer management
2. Product requirements – not well told, not well understood, not well documented, not well translated into the product
3. Project Team – documentation, development, testing, implementation, training
4. Development Process – how well the product has been understood and developed
5. Product Testing – it is not the tester but the testing procedure that matters more
6. Implementation Team – sign offs, training, meetings