The Challenges in Implementing Risk Management for Information Technology Projects

IT projects are characterized by high degrees of risk. The rapid speed of transformation in information technologies combines changes in business processes to create surprising shifts in cost, the cost benefit relationship, and the feasibility of doing specific things in particular ways. The risks faced by IT projects are not, in essence, financial risks. By understanding these fundamental problems in real terms, rather than through their financial impact, IT project managers can move more quickly to resolve issues before they become major problems that threaten the goals of the project.