Project Risk in IT Management

It is given that there is really a rapid pace in the all of the technological innovation. Expecting the rate of future innovations is very difficult but also very essential. Another thing is that every time there are decisions made to place in the current technology, more risks are included in making the decision on how much is to invest in each stage of the process of implementation. Alternatives in the financial areas are used for the different industries that concerns risk management. There are embedded or real options that are linear to the financial options used in making investment decisions done in important uncertainty. Options that are real can be easily identified through the opportunity to invest in the current and available project that is innovative plus the consideration of all the strategic values that is associated with the probability of investments in the future because of the emergence of other innovations related to the project. The use of option valuation techniques in the assessment and management of all the risks are already explained when it comes to the adoption of technological innovations. The organization must present a new process framework that is risk driven and well suited for the management of the risks for the development of the software.

The management of risk in a particular project is needed to direct and anticipate all the doubts that impends the objectives of the project since risks lead to the delays in the dates of delivery and the overages of the budget for the project. Risk management makes it possible to come up to a successful project and a successful product.