Software Project Risk Management Practices and Their Effects on Project Success.
Keywords:Risk, Risk Identification, Risk Analysis, Risk Response Planning, Risk Monitoring and Control, Project Success
Risk Management is one of the main key process areas in the field of Project Management, but unfortunately due to lack of sufficient resources, the software companies of Pakistan don’t bat an eye on this impactful and significant activity. Although much research has been conducted previously on the topic of risk management in the context of software companies around the globe stills there exists research gaps that need to be coped to increase the productivity and success rate of software industries of Pakistan. The main objective of our research is to address the key variables in risk management and their impact on the success of a software project. For this goal to achieve we surveyed a total of 160 software organizations of Pakistan and for the evaluation and analysis of the gathered results we utilized SPSS software. This software lends us a hand in the correlation and regression analysis which truly depicted the significant +ve correlation among the dependent and the independent variables of our study. This research will surely pave way for the software organizations of Pakistan to gain the advantages of applying the risk management process as it will ultimately result in a better success rate and provide a defense mechanism against emerging risks.