How to Reduce Risk in IT Projects

If you only consider one type of risk, then you're headed toward project failure.

Most software projects are unsuccessful. According to studies by the Standish Group, in 2006 only 35% of IT projects were completed on time and within budget, and 19% of software projects were abandoned altogether. Those statistics are bad enough, but in fact they represent an improvement over earlier study results. In 1994 the Standish Group found that only 16% of IT projects were completed on time and within budget, and a huge 31% of software projects were abandoned, for a total waste of $140 billion.

Obviously, IT projects are risky. In this 6-page white paper I’ll tell you how you can reduce that risk. I’ll start by using a simple example of a project, and I'll explain the three types of risks (most people only consider one of them). I'll tell you about other common project issues that jeopardize projects, and I'll reveal the hardest risks to deal with -- the ones that almost no one addresses. Then I’ll apply the ideas from the simple project to more complicated IT projects, and give you specific pointers on reducing your IT project risk.

This white paper is based on a presentation I gave on April 28, 2004 to the Atlanta Chapter of the Project Management Institute. Now you can learn from the same material.

Get this white paper and find out how you can identify and reduce risk in your own IT projects.

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