Improving risk management practices for IT projects

Authors:
Tak Wah Kwan;Hareton K. N. Leung
Affiliations:
Department of Computing, The Hong Kong Polytechnic University, Hong Kong, PRC;Department of Computing, The Hong Kong Polytechnic University, Hong Kong, PRC
Venue:
ACST'07 Proceedings of the third conference on IASTED International Conference: Advances in Computer Science and Technology
Year:
2007

Citing 6
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Abstract

Although a number of risk management processes and guidelines have been developed, many IT projects still fail due to inadequate management of project risks. In fact, risk management is an emerging practice to be applied in managing IT projects, and very few studies have been conducted to transfer it into industrial practices. In this paper, some weaknesses are identified in the available tools and techniques that affect the effective use of risk management practices. Two new practices and an implementation model are proposed to address these weaknesses.