It Project Risk Management Theory And Practice

The discipline of IT project risk management is still at its initial stage either in academia or in practice in China today, while it has been investigated for over a decade abroad. The academic aims of this paper include lessons learned from all available results, and exploring for a framework of IT project risk management according to Chinese situation. Furthermore, the application of this research can be evaluated from high-risk characteristic and various ongoing needs of IT projects.The main contents of this paper are as follows: Firstly, in chapter 1, the history and state-of-the-art of this subject are reviewed both domestically and abroad, and shows the importance of risk management in project management. Then, in chapter 2, it is given that the general characters of IT project are the following: the object is not very clear; the task is without definite limitation; the needs of customers are changing frequently. All above leads to longer period and more cost. All these explain that IT risk management is different from risk management of other items. Thirdly, in chapter 3, a new risk management framework abbreviated as GPS designed by writer is presented, which contains risk management Guide, Process/thread model and risk State chart, and the design and architecture of computer-aided project risk management system based on this GPS framework as well as validation issues through a case study is discussed. At last, after summarizing main content discussed in this paper, some potential research directions are given. Seeing the develop tendency of business, technology, system, and project management, it can be predicted that risk will occur more frequently because of the source limitation, fast developing technology and parallel of items. The ability of recognizing and controlling risk of IT project of various companies is different. If managers only notice and apply ordinary management methods, they will not be able enough to face various management problems for changeable risk. We should learn advanced management experiments from other countries, draw experiments from practical lessons, summarize types of risk management methods.