I.t. project risk management

I. T PROJECT RISK MANAGEMENT Currently, knowledge has been earmarked as an indispensable ingredient to innovative companies and to their overall objective of maintaining a competitive advantage over their rivals. In particular, knowledge has become an important factor in the development of dynamic key competencies, as well as the vocal point for companies to meet their global ambitions (Talet, Zin & Houari, 2014). IT, in particular, has become an important tool in all-important sectors, and any organization will highly feel the impact of any failure of IT project management on competitive advantage. California Technology Agency (2011) asserts that most of the business managers are not privy of the magnitude IT-related risks in projects management a firm will be exposed. Most of these managers are only able to learn the value of IT-related risks after they have computed the amount of damage the risk has brought about. According to Leong California Technology Agency, (2011) past research studies have primarily been concerned with how effective IT-related risks may be analyzed and compensated for. Therefore, it would be imperative for IT managers constantly to embrace the holistic view of IT project risk management rather than just focusing only on financial issues. There exist little empirical research studies showing the correct way of handling the management of the IT-related projects risks during the launching of the project.
Problem Statement
Though a myriad of studies have been done in regards to I. T project risk management, (California Technology Agency, 2011, Haney, 2009, Talet, Zin &Houari, 2014, & Texas Tech University, n. d), there is still little empirical research on how effective IT risk management can be handled at the time of executing projects. In this paper, I will attempt to develop a typology of effective strategies that will guide managers to develop specific plans meant to control risk IT projects.
Reference
California Technology Agency. (2011). Information Technology Project
Oversight Framework. Retrieved 14th April 2015, from, http://www. cio. ca. gov/Government/IT_Policy/pdf/SIMM_45_IT_Project_Oversight_Framework_03092011. pdf
Haney, V. (2009). Top IT Project Risks And What To Do About Them. Retrieved 14th April
2015, from, http://www. vbhconsulting. com/Articles/Top%20IT%20Project%20Risks%20and%20What%20to%20do%20about%20them-3. pdf
Nae, N.(2002). Kokoro and the Agony of the Individual. Retrieved 14th April 2015, from,
http://www. nucba. ac. jp/themes/s_cic@cic@nucba/pdf/njlcc042/02NAE. PDF
Texas Tech University. (n. d). IT Project Management Practices Guide. Retrieved 14th April
2015, from, https://www. depts. ttu. edu/infotech/pmguide. pdf