Research On Risk Management Orient IT Project Management

IT Project Risk Management is a set of processes which manage the potential threats to the project goal. In those processes, we can find Risk Management Plan, Risk Identification, Risk Assessment and Risk Monitoring. And Risk Assessment could be qualitative analysis or quantitative analysis and it is depending on the requirement of the project. As one of the nine domains in PMBOK, risk management plays a very critical role in the whole system. Risk is everywhere and it may do harm to both the progress and the goal of the project when it comes true. But it is still manageable if the basic principles are mastered by project manager. Pay enough attention to risk, understand the necessary knowledge and skill for risk management then you can secure the project goal by setting a security management framework with organizational measures and processes.PMBOK offers a completed knowledge system for project management but it is still easy for us to find some space for improvement, like IT project management in nowadays. There are few articles, based on current situation, about risk management practises and the effectiveness measurement on risk management framework. At the same time, a lot of projects failed because of lousy risk management. In this article, it starts from current situation of risk management in project, composes the experience and setup a framework for the practice in risk management in project.Based on PMBOK, we go through the current researching about the risk management and the achievements. Also together with my practises and experience from project management. And finally come to the IT Project Risk Management Framework and its structure, components and driving pattern. This framework gets project goal and business goal aligned. Through this alignment, we can identify the risk which is really needs to be managed. Also by this management pattern, the output from risk management becomes even more understandable to high level management. As a consequence, project can have better support from project stakeholder and focusing on the real business target even more.No real management theory without practise. In the chapter four, it comes a practise of this management pattern with a real case happened to me. It is also a good opportunity to test the pattern practicable or not and make it to be developed forward.