ABSTRACT
The meaning of value and risk, however, is not absolute and depends on the circumstances and on the project environment. For instance, a project developed for humanitarian reasons measures value in a different way from a project to launch a commercial product. Similar is the concept of risk. As mentioned byMaylor (2010), the first projects related to the Apollo mission, although they were considerably high risk, were critical to gain the know-how necessary to send a man to the moon. A typical scenario in the software industry is represented by a make or buy decision, namely, choosing between developing a new system or acquiring an existing one with features similar to those needed.
