Abstract
The success of software development projects relies on how risks are managed. There is a lack of understanding on the effectiveness of risk mitigating strategies for managing software development projects. In a questionnaire survey conducted among 324 IT professionals, the effectiveness of risk management strategies was explored. The statistical method of variance technique (ANOVA) was used to analyse risk mitigation strategies in terms of their effectiveness in reducing time and cost overruns. Findings reveal that risk mitigation strategies related to the technical part are not as efficient as that in the managerial part such as the users’ involvement and commitment in reducing time and cost overruns. Results from this study could help increase the chances of success, achieve project cost and time objectives, and reduce project risks in software development projects. Key words: Risk mitigation, software development, IT business, risk management.
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