Increasing flexibility of risk management in it projects with isorisk curves and risk mapping

Abstract

The article deals with problem of prioritizing IT project risks. The widely used tool of risk prioritization is so called risk matrix which sometimes called also as probability and impact matrix. This matrix includes two dimensions-probability of risks and impact of risks on a project. In many situations the more flexible approach can be applied with the help of the risk maps that are describe in the text below. The risk maps seem to be especially useful for IT projects which are characterized by the big number of various risks and very dynamic environments.