It Works! Risk Management on an IS Project

Summary:  Risk management is the process of identifying potential project risks, assessing the probability and severity of risk events, and planning responses for the most important risk events.  People tend to relate only negative events to the term risk.  However, risk includes all uncertainty on a project and includes both the positive (opportunities) and negatives (threats).

This paper will describe the successful use of risk management on an information systems (IS) project to create a new capital management system (CMS) for a Fortune 500 company. This IS project was done to create a new, customized intranet-based software package that will be used for managing the capital budget and expenditures for the company.  The client sponsor’s most important project objective was completing the project within budget, followed by functionality and then schedule. This presentation will describe how risk management was a major part of the detailed project plan and helped ensure project success. 

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Subject Matter Expert: Joseph A. Lukas, PMP®, PE, CCE
Joe Lukas is Vice-President of PMCentersUSA, and leads a team of instructors and consultants in delivering project management and business analysis training and consulting to clients across the country.  Joe has been involved in project management for over 30 years and has worked in engineering, manufacturing, construction, project controls, estimating and contracting, and has been a Program and Project Manager supporting world-wide programs. His project management experience spans information systems, product development, capital construction and manufacturing projects. He is a registered Professional Engineer, Project Management Professional and Certified Cost Engineer.