Features of methods and models in risk management of IT projects

Vitalina Babenko,Yelizaveta Koniaieva,Marharyta Krutko,Liubov Korchynska,Liudmila Lomovskykh,Alvina Oriekhova

doi:10.21533/pen.v7i2.558

Abstract

IT projects are carried out in the context of the constant development of rapidly obsolete technologies and the variability of user expectations. Implementation of IT projects is closely related to risks, the nature of which depends on factors such as subject area, technology used, number of involved developers, etc. Risk management (RM) is multivariate, which determines the search for comprehensive solutions to increase the effectiveness of RM in projects. For IT projects, this problem is particularly relevant due to the backlog of knowledge gained from technology development and intangible results that limit the possibilities of initial planning and risk control. The object of the article's research is the RM process of IT projects. The subject of the study is to determine the issue of selecting and using RM methods and models, taking into account the peculiarities of IT projects. Two groups of methodologies are allocated: methodologies-standards and methodologies based on system development lifecycle (SDLC). PMBOK and ISO 21500 are referred to standard methodologies. The classification of project management (PM) methodologies is generalized. PM methodologies based on system life cycles include flexible Scrum methodologies, Kanban and extreme programming, as well as cascading PM methodologies using the critical path method (CPM) and critical chain project management (CCPM) projects. As a result of the analysis of the main characteristics of IT projects, the peculiarities of the application of methods and models in the management of risks of IT projects in comparison with projects in other fields are determined. The received recommendations can be used for decision-making in the management of IT projects when the project goals are achieved through the correct identification, assessment, and risk control.

Highlights

In connection with the latest economic crisis, which is associated with a cost decrease of raw materials in international markets, the information technology (IT) industry became a key to the recovery of country'sPEN Vol 7, No 2, August 2019, pp.629- 636 economic growth and its reorientation to the production of products and the provision of high value added services
PM methodologies based on system life cycles include flexible Scrum methodologies, Kanban and extreme programming, as well as cascading PM methodologies used the critical path method (CPM) and critical chain PM (CCPM) projects
Due to the limited ability to accurately plan IT projects, it is advisable to use methods that provide time and money reserves for adverse events and take them regards when modeling; Implementation of the IT project is aimed at creating an intangible product, which complicates the formulation of requirements and requires constant refinement

Summary

Introduction

In connection with the latest economic crisis, which is associated with a cost decrease of raw materials in international markets, the information technology (IT) industry became a key to the recovery of country'sPEN Vol 7, No 2, August 2019, pp.629 636 economic growth and its reorientation to the production of products and the provision of high value added services. In the broadest sense the term "IT project" is used to refer to activities related to the use or creation of certain information technology In this regard, IT projects have a wide range of applications, including software development, information systems, deployment of IT infrastructure, etc. According to the results of the analysis of the peculiarities of IT project implementation, it is proposed to consider the management of IT projects as a time-limited and resource-based set of interrelated actions aimed at achieving an intellectually intangible non-material result in the form of information systems / technologies in conditions of uncertainty regarding development technologies, customer requirements and customer needs. In 2017, the cost of a large IT project exceeded the budget by an average of 45%, the execution time increased by 7%, and the value of output was 56% lower than expected. Regarding the need to set up effective communication in the implementation of an IT project, its riskiness can be significantly influenced by the use of distorted information [14] and providing computer security [15]

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Conclusion