Risk Management

Authored by: John McManus

Encyclopedia of Software Engineering

Print publication date:  November  2010
Online publication date:  November  2010

Print ISBN: 9781420059779
eBook ISBN: 9781351249270
Adobe ISBN:

10.1081/E-ESE-120044257

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Abstract

In the twenty-first century, the complexity of the marketplace, the rapid change in technologies and the global shortage of skilled project managers place unprecedented business risks on organizations and their customers. Given this situation, the success or failure in project management often lies in the way risk planning and risk mitigation is undertaken. There is no one universally accepted methodology or set of techniques that project managers adopt on a project by project basis. This invariably leads to waste and misuse in both schedule (time) and opportunity cost. This contribution offers project managers some practical advice about how to undertake risk management in an operational project environment.

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