Theoretical Aspects of Project Risk Management in IT Companies

• Published in: Bìznes ìnform (Multilingual ed.) Vol. 12; no. 503; pp. 420 - 425
• Main Authors: Kozyrieva, O. V., Ivanov, M. Y.
• Format: Journal Article
• Language: English
• Published: Research Centre of Industrial Problems of Development of NAS of Ukraine 01.12.2019
• Subjects: control; it companies; management; method; project risk
• ISSN: 2222-4459; 2311-116X
• DOI: 10.32983/2222-4459-2019-12-420-425

The theoretical aspects of project risk management in IT companies are generalized. It is noted that the development of the IT industry stimulates the development of national information infrastructure in accordance with the requirements of the world’s leading economies, which have reached the level of V and VI technological modes. Today, it uses modern management technologies to succeed as IT companies. In terms of project management, one of the main challenges facing companies is project risk management, which becomes a very serious obstacle to the successful completion of a project and is assessed using the following indicators: probability of a risk event, the sum of damage (gravity). It is obvious that the presence of risks is present at all stages of the project activity. In this regard, the instrumentarium for project risk management must be constantly improved. Existing definitions of «risk» and «project risk» are generalized and systematized. It is noted that the process of defining, identifying and eliminating risks in IT companies should be constantly monitored and be continuous throughout the life of a project. Risks in the implementation of project may change; they may disappear or take other forms; new types of risks can be discovered. That is, as the project progresses, all risks must be identified, evaluated and eliminated or defeated. It is noted that when modern IT companies develop several projects at the same time, project risk management is becoming complicated and requires the use of more adapted modern risk management instruments. It is indicated that the project activity has always been accompanied by many types of risks, so the choice of risk management method depends on the overall purpose and policy of the company’s management, its financial condition, the status of the company’s risk management and its position in the market of IT industry.