How to manage risks as a Scrum Master?

Risks are everywhere no matter the type of work you’re in. Wherever you go, no matter what industry you’re working in, you are always going to have to deal with risks. So it is best if you consider dealing with risks as a mandatory part of your work. In other words, accepting risks in your workplace will help you deal with them like any other problem you deal with at your workplace. 
As a Scrum master, you are taking care of a big team and making sure everyone’s doing their job the way they should. To ensure that, you need to manage risks inherently. Now, what type of risks you can be facing while working? Well, there are a variety of risks that can pop up at any time and from nowhere that need to be taken care of. So let us take a look at all such risks.

Risks you need to manage as a Scrum master:

Schedule risk:

This is the risk where you’re always afraid of whether your team can do the work on time or not. This risk can be managed through Sprints, points, velocity, and burn down charts.

Scope risk:

A risk where you always wonder whether you will be able to deliver what was requested of you or not? But this risk can be avoided if you have a well-defined and groomed release backlog and a release burn-down. Both this can help clarify the scope and the progress toward delivering that scope.

Budget risk:

You always have a specific budget defined at the start. But there come many instances where you face problems managing the budget. So this can be avoided by not only defining your Scrum team but also tracking velocity. This can help you minimize the budget risk.

Dependency risk:

Both the Scrum teams and software often have dependencies. This means that they often have this habit of relying on one another more than they should. This can pretty much jeopardize the whole project development. And to deal with this risk, Scrum has 2 primary ways that we want to share with you. The first method is the SOS, that is, the Scrum of Scrums. Here the representatives of both teams meet with one another, discuss cross-team dependencies and find a solution. And the second one is empowerment.

Here what we recommend is to encourage the teams to do their work without depending on the project manager or the person-related. Precisely, the team is given such instructions to try to solve all the issues on their own first. And not rely on any other resource for it. Motivating them to do that is very necessary and still if this risk persists then you can announce a reward for those who stop depending on other people to solve their problems. 

Technical risk:

Technical risk can happen at any time and you can never predict when and how it happens. So the best way to control or manage it is by adopting the “The Spike” method. It is the most common agile/scrum method that deals with technical issues. 

Conclusion:

As you can see there is no workplace free from risks. And instead of getting panicked, you should learn to manage these risks. We hope these above-mentioned risks and the ways to manage them can help you identify and manage the risks in your workplace. From more Professional Scrum Master certification and there study resources, check out the PSM Certification Dumps for your practice. So read them now and don't forget to stay home, stay safe, and never stop learning.