Review of IT Project Risk Analysis

Abstract

Risk is defined as the possibility of an event occurring that may positively or negatively impact a project, potentially leading to missed schedules, budget overruns, or unmet specifications outcomes that are considered unacceptable. Delays in recognizing these risks can result in serious and potentially irreversible consequences. This study adopts an exploratory approach, grounded in a literature review of risk identification, quantitative and qualitative analysis, assessment, mitigation strategies, and risk monitoring processes.