Abstract
Past studies have indicated that project managers may be less likely to continue failing IT projects if they are able to perceive project risks accurately. Using the scenario of a failing IT project, a computer simulation-based experiment investigated the influence of individual self-efficacy and project risk factors on the perception of risk. Participants played the role of a project manager and managed a simulated IT project. The results suggest that project managers are likely to underestimate the risks of a project with endogenous risk factors as compared to a project with exogenous risk factors. Results of this study point to a ‘self-efficacy bias’ where project managers with higher self-efficacy may underestimate the risks of a troubled IT project as compared to project managers with lower self-efficacy. Further, risk perception mediated the influence of self-efficacy on the commitment to a failing IT project.
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