Risk management is the methodology of recognizing, assessing, and prioritizing risks, then cost-effectively deploying resources to reduce the likelihood and influence of unfortunate occurrences or optimize the achievement of opportunities. Project risk management is a continuous examination by the project team of what risks can positively or negatively influence the operation, the possibility of such events happening, and the consequences of such situations (Schwalbe, 2018). Considering the IT sphere, the risks are standard in general practice; however, they have unique details related to operations.
The shortage of objectives and specifications is a typical cause of risk in IT projects. Project managers must have a clear vision of the project’s desired result from the outset. Many code lines might be written to perform the same function in an IT development, and if there are no stated criteria, something could end up being disputed, leading to an issue. To prevent this, there must be significant participation in the project scope and strategy in the early stages of the process, including interviewing. In IT projects, particularly long-term, modification may be demanded due to a technological upgrade, and the project’s purpose can be lost. To overcome this, change should be managed and monitored by specialists who will promptly introduce the trends and innovations they track. In addition, lack of user interaction, absence of senior management support, and inadequate planning are all common dangers in IT projects (Schwalbe, 2018). A large share of the risk belongs to interpersonal communications within the team and external participants in the processes.
To my mind, the suggestion that is most useful and universal is related to multi-level and ubiquitous participation. It is possible to prevent and anticipate risks only if all its details are considered and assessed at all possible organizational levels. In my opinion, the suggestion of constant monitoring and implementation of changes and trends does not apply to the organization for which the website is being developed. In this case, all the details have been discussed, agreed upon, and approved, and a clear vision has been formulated; therefore, the adjustments made cannot be large-scale.
Reference
Schwalbe, K. (2018). Information technology project management. Cengage Learning.