Improving Risk Management Practices for IT Projects

T.W. Kwan and H.K.N. Leung (PRC)


Risk management, system development and engineering


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.

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