Application Of Continuous Risk Management In IT Project Management For Financial Industry

Financial industry highly relies on the IT system. The industry faces IT risk including project management risk, information security risk and regulatory risk while it takes advantage of high efficiency and convenient from information technology. The critical success fact of project management in financial industry is IT Risk management and applying the risk management method to the whole project life cycle.The main content of this paper is to analyze application of continuous risk management in the IT project whole life cycle of the financial industry. Firstly, the paper discusses about IT project management theory and risk management theory, and the theory of general IT-related risk management then is introduced and focused on. Secondly, it gives a brief discussion on the existing issues of IT project management in enterprise and also gives the suggested recommendation to solve these issues. Thirdly, the paper uses one IT project case which used a continuous risk management approach to demonstrate the importance and effectiveness of the continuous risk management. Finally, the case and the combination of theory are summarized to get the overall conclusions.