Risk Management Of I.T. Project

With the technological progress, economic globalization, fiercecompetition and industry profits declined gradually, more and morecompanies emphasize the risk management of IT industry. From projectcreativity, project approval and project initiation to projectmonitoring and control, project ending, the risk management goesthrough the whole process of the project. This thesis combined withthe author to participate in the Bank of Communications NewBusiness system, the risk management system has been applied andstudied. The thesis used the risk management theory and method toreal software projects. It makes sure the organization’s efficientcompletion of project objectives.Firstly, it carries out the detailed plan of risk management.It evaluates the risk situation and the attitude about the risk inproject organization. It makes a complete risk management plan bycreating the Risk Breakdown Structure, calling the risk planningmeetings and other related management methods. Secondly, it adoptsthe means of document reviewing, brainstorming, Delphi technique toidentify and record the risks for the project. It improves theapplication on the risk identification method and evaluates thepractical application effect. It analyzes the risk through thequalitative risk analysis and quantitative risk analysis. It getsthe numerical and monetary value of the results, which provides animportant reference for the risk response. According to results of analysis, it makes some related response tactics. These responsetactics include risk avoidance, risk mitigation, risk transfer, riskisolation and risk retention. It achieves good results on thecomprehensive application of these response tactics. It monitors andcontrols the whole process of the risk management and forms theorganizational process assets on the risk management process relateddocuments review, archiving. After the description of every theoryand method, it analyses the practice and discuss with the case ofthe Bank of Communications New Business system.Finally, it makes a summary of the whole thesis and discussesthe content in need of improvement. It is the value reference forthe risk management of IT project in financial institutions.