Welcome to the Software Process and Measurement Cast 115! Recorded in the Marriott Courtyard Dun Loring Fairfax in Virginia.  Happy New Year!

Moral Hazards occur when someone insulated from risk behaves differently than they would behave if they were fully exposed to the risk. I recently listened to someone order two pounds of chicken wings and then comment that his high cholesterol drugs would protect him from the potential negative impact.  He felt insulated from the risk therefore made a different choice if he had not been insulated. The discussions financial crises and bank bailouts have embedded the term moral hazard into our day to day vocabulary (not just into discussions of behavioral economics). While it is rare, even today,  to attach the concept of moral hazard to a methodology or software development framework, I would suggest that when applied to the world of project governance, moral hazards do exist and might not be easily recognized or mitigated. While I am not suggesting you will run into any of the four scenarios this essay tackles, knowledge might help immunize you from the mistakes of others.

co-authored by Murali Chematuri and myself and published by J. Ross Publishing has hit the bookshelves!  According to Robert C. Anderson, Director, Process Development and Quality Assurance, Computer Aid, Inc, "Mastering Software Project Management is a masterpiece of clarity, organization and depth of practical knowledge." If you a project manager or know project managers buy yourself a copy and a second to lend co-workers!

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Next!SPaMCAST 116 will feature an interview with Naomi Karten.  Naomi returns to discuss her new book, Presentation Skills for Technical Professionals, Achieving Excellence.  What could be a better start to 2011 than Naomi's great wisdom and wonderful style.  I am always amazed by what I learn when we talk.