A Study on the Project Risk Management Strategies Adapted By It Organizations: Implementing Risk Management Strategies in IT Organizations

Abstract

Risk management is an organized means of identifying therisk factors, selecting the risk handling options and mitigating risks whenthey become problems. The primary role of risk management is to identify andrespond to potential problems. It is quiet essential that a risk managementstrategy is implemented in the early stages of the project so that the risk iscontinuously addressed throughout the system life cycle. Software genericproject deals with problems generic to all projects. The goal of thetraditional project management is to control the persuasive risks by usingsystematic procedures.