Many information technology (IT) projects fail to meet specified project objectives of scope, time and budget. Despite well-established best practice project risk management processes, project managers perceive these processes to be ineffective in minimising the influence of risk on the project outcome.
This failure may be contributed to by inadequate project risk management, the systematic utilisation of a process by project managers to identify, analyse and respond to risks posed by events and conditions that are not definitely known in advance, but which may adversely affect the success...