Identifying And Evaluation Of Risks In Software Projects in Indian IT Industries

Abstract

Keeping a wary eye on risks has become an integral part of project management, not only in manufacturing firms, but also in software companies. This paper focuses on risk categories that influence project success in software companies originating from human resources, environment and organizational culture, or are project specific. To identify and assess the effectiveness of these four categories, authors conducted a survey of 50 Information technology (IT) firms to investigate their risk management practices during software development lifecycle of a project. Exploratory design using the survey research methodology that includes structured questionnaires and interaction of 50 IT companies. The survey asked the participants about the outcome of specific project, issues in technical manpower and commitment of the top management. Data collected was analyzed using statistical models. The study finds three factors that played crucial roles in ensuring project success in Indian software projects. In contrast with similar international studies this study identifies factors like application of project risk management process, qualified project manager, and quality of client acceptance which are significant to project success. The study also focuses on three major Indian software firms with global presence to understand the implications of the above findings.