The possibility that purchased software will not function as planned or that new software will emerge making existing software obsolete can be described as which of the following types of risks?
Risk Categorization: Technical risks are associated with the technology itself, including the possibility of malfunction or obsolescence.
Software Risks: The risk that software will not function as planned or become obsolete falls squarely within the realm of technical risks. This includes compatibility issues, performance problems, and the emergence of superior alternatives.
Mitigation Strategies: Addressing technical risks involves thorough testing, staying updated with technology trends, and having contingency plans in place.
Reference: The categorization of risks into technical, operational, environmental, and data security is widely recognized in risk management frameworks such as ISO 31000 and the Project Management Body of Knowledge (PMBOK).
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