The management of risk in information systems development

Despite impressive advances in technology and a plethora of Information Systems development methods there remain plentiful stories of Information Systems project failure. Risk Management promises a positive impact on Information Systems Development and has raised hopes of alleviating such problems This thesis summarises the earlier literature on the topic of Risk and Risk Management. It reports the results of an empirical study into the Management of Risk in Information Systems Development and provides both a better understanding of Risk Management in Information Systems Development and suggestions for the improvement of the theory and practice of Risk Management in Information System Development. In the review of the relevant literature about Risk, Risk Management, and Information Systems Risk Management, the thesis describes the essential concepts of the notion of Risk The suggested methods and practices of Risk Management in Information Systems Development are reviewed and critiqued and this lays down the basis for an empirical exploration, which includes a questionnaire survey. The empirical study undertaken investigates the nature of risks, current risk management practices, and their effect on Information Systems Development in the UK The study shows that there is a lack of rigorous research into Risk Management. The current literature provides useful knowledge and guidelines on Risk Management, but many of the claims made in the literature have no empirical validation. According to the empirical findings, the application of Risk Management to Information Systems Development is not a common practice. Furthermore, the positive effect of Risk Management on Information Systems Development is not very high and practitioners hold