Provide a 8 pages analysis while answering the following question: Management of Risks in Information Technology Projects. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. This paper will discuss how the right strategy project monitoring and control can be implemented in a systematic way. It would also highlight how the timelines of control activity can impact on decision making in a project, particularly the cost of changes and the level of influence over the project.
Project control is carried out poorly due to various reasons. Most projects today are time-critical if one has to remain ahead of the competition. Projects require increased resources and have shorter schedules. Even though software tools are available, project control remains dependent on a leadership style that is outcome-focused and not problem-focused (Barber & Warn, 2006). In projects, problems will always arise and deviation will occur but the firefighter approach has to be adopted – tackle the immediate problem.
Projects have become complex and even the most efficient project manager overlooks unforeseen circumstances. Such oversight results in a crisis. Unexpected events disrupt schedules and the project goes out of control of the project manager. A reactive manager would use all the software tools available to track and monitor progress but still, risk planning has not been done. Managers do not give importance to risk management. They only perform a superficial examination of issues related to risk. Risk in projects is outside their control. Risks occur in projects due to lack of top management commitment to the project, failure to gain user commitment, misunderstanding the requirements, and failure to manage end-user expectations (Cervone, 2006).
The failure of the project London Ambulance System (LAS) was due to poor control and lack of risk management. One factor consistent with all IT projects is the fact that only 30% of the organizations applied risk analysis in their IT investment and project management processes.
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