Forrester

Why Read This Report

Experienced IT project managers know about risk management. As one of the nine knowledge areas in the Project Management Body of Knowledge (PMBOK), it's considered as important as scope, quality, and cost management. But even senior project managers can neglect the practice of planning for and managing risks early and often throughout the project life cycle, seeing it as unnecessary or too time-consuming. By doing so, they put their teams into fire-fighting mode and jeopardize project outcomes. Strong project managers view risk management as an important tool that enables them to see the road ahead and remove molehills before they become mountains. Risk-focused project managers ensure that their teams practice continuous, iterative risk planning and management. They act quickly when risks escalate, and they use risk to drive work prioritization. When embraced fully, project risk management is a project manager's — and an organization's — best friend.