The risk management process
Given this situation, global IT software suppliers and system integration organizations face challenges like never before. The global IT software industry stands to lose billions each year in project overruns, and reworking software. In my experience, as much as 40 per cent of software development costs alone can be spent reworking software, and on a global scale this represents a tidy sum. Furthermore, on average only one in six software projects will be delivered on time and to budget, and in some large organizations only 10 per cent of their projects will come in on time and to budget. Even when these projects are completed, many are no more than a mere shadow of their original application requirements.