& technology projects continue to become larger, more complicated
and more difficult to manage. The
risks of project failure escalate in proportion to the complexity of the
discipline of risk management provides a method to identify
any threats to the project, and designs strategies to increase
the chances of a successful outcome.
current project management methodologies (and some business management
methodologies) require some form of risk management process be
often make large investments in their information assets. Despite
growing levels of professionalism, many projects fail to deliver the
promised outcomes on time, or within budget.
of these failures are due to inadequate risk management. By exercising
proper risk management controls, it is possible to increase the
likelihood that the project will complete on time and budget, and
realise the anticipated return on investment.