Information Technology Project Risk Factors

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Recommended: The determinants of success and failure on IT projects

The failure of Information Technology projects has always been a hurtful problem for many organizations. With tons of new technologies coming out throughout the year, new IT, projects continue to grow by the year. Unfortunately, the success rates of the projects are very low and have actually lowered since its last estimate. Project risk factors are important to know and avoid in making of a success project. This paper is going to explain risks in knowledge areas, how to identify risks, and explain the risk register. Also, it’s going to identify and define the qualitative and quantitative risk analysis. In addition, it will cover planning for positive and negative risk responses. Finally, it will conclude with how to monitor and control IT project risks

Even with new technologies on the rise and countless new projects being created for those technologies, their success is still at a very low percent. According to Standish Groups student to the CHAOS research, Information Technology projects are only 28 percent successful, which is lower than the previous 34 percent that they estimated previously. Also, 18 percent of IT projects were canceled before reaching the development cycle, and 51 percent had to be shutdown because the exceeded the required budget. In addition, the Standish Groups estimated that around 80,000 projects were canceled in 1995. With those estimates they came up with and identified ten main reasons for these cancelations. CHAOS University then did another study to further implement Standish Groups claims which aided the Information technology success potential scoring sheet.

The way that Standish Groups conducted their study was gathering 60 Information Technology professionals and having them give...

... middle of paper ...

...arch 1, 2011 from http://www.brighthub.com/office/project-management/articles/33403.aspx

3. Tesch, Debbie,Kloppenborg, Timothy J,Frolick, Mark N. (2007). IT Project Risk Factors: The project management professionals perspective. The Journal of Computer Information Systems. Retrieved

March 1, 2011 from http://www.allbusiness.com/management/risk-management/8906256-1.html

4. Ireland, Jaie. How to identify Project Risk

Project Risk Management. Retrieved

March 1, 2011 from http://www.ehow.com/how_5068663_identify-project-risk.html

5. Standish Group. Sample Research.

Unfinished Voyages. Retrieved March 1, 2011,

From http://www.standishgroup.com/sample_research/unfinished_voyages_1.php

6. Cobb, Martin. Unfinished Voyages

A follow-up to the CHAOS Report. Retrieved March 1, 2011

From http://www.umflint.edu/~weli/courses/bus381/assignment/vo.pdf

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