THE IMPORTANCE OF RISK MANAGEMENT FOR ACHIEVING SUCCESS IN IT PROJECTS
THE IMPORTANCE OF RISK MANAGEMENT FOR ACHIEVING SUCCESS IN IT PROJECTS

Summary/Abstract: Project management literature identifies risk as a key construct influencing IT projects success, and it is relevant for both academic and practitioners’ communities. The paper emphasizes the role of risk management as it contributes to projects success. Over the last decade, IT projects have brought different approaches to risk management thus resulting in project failure in many cases. We present how project success is defined and how risk management is considered in the literature. Empirical knowledge is still largely based on how risk management is assumed to work instead of how it is actually used in project practice. The contribution of risk management is considered in relation to a larger definition of project success and some key elements are stakeholder perception of success and risk, and their behaviour in the process of project risk management.

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