Abstract: This book provides an excellent framework for business /project mangers for identifying, sourcing, measuring and monitoring business risks in general and IT-related risks in specific. The author has shown the way how successful IT companies manage their project risk in order to operate effectively and profitablely . The findings presented by the author are drawn from 150 survey responses from senior executives of various leading companies in North America, Europe and Asia. The mix of companies in the study comprises large multinationals, as well as small- to medium-sized companies Every business every project has certain inherited risks and the managers need to prepare themselves to avoid, mitigate and tackle those so that the main operation do not get adversely affected. The key to success is to have an appropriate contingency plan in place and assign the responsibility who will monitor unforeseen risk and how he/she will respond. The risk management is based on risk identification, qualification, quantification, prioritizing, developing strategy, responding and monitoring.
By Dr Sarbjit Singh, PhD