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* [[Risk management]] is the process of measuring or [[Risk assessment|assessing risk]] and then developing strategies to manage the risk. In general, the strategies employed include transferring the risk to another party, avoiding the risk, reducing the negative effect of the risk, and accepting some or all of the consequences of a particular risk. Risk management in software project management begins with the [[business case]] for starting the project, which includes a [[cost-benefit analysis]] as well as a list of fallback options for project failure, called a [[contingency plan]].
** A subset of risk management that is gaining more and more attention is "Opportunity Management", which means the same thing, except that the potential risk outcome will have a positive, rather than a negative impact. Though theoretically handled in the same way, using the term "opportunity" rather than the somewhat negative term "risk" helps to keep a team focussed on possible positive outcomes of any given [[risk register]] in their projects, such as spin-off projects, windfalls, and free extra resources.
* [[Requirements management]] is the process of identifying, [[Requirements elicitation|eliciting]], documenting, analyzing, [[Requirements traceability|tracing]], prioritizing and agreeing on requirements and then controlling change and communicating to relevant stakeholders. New or altered [[computer system]]<ref name="Stellman05"/> Requirements management, which includes [[Requirements analysis]], is an important part of the [[software engineering]] process; whereby business analysts or [[software developers]] identify the needs or requirements of a client; having identified these requirements they are then in a position to design a solution.
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