PROJECT MANAGEMENT

Project Management

Project Management

'In an era of unprecedented emphasis on risk management, complacency is simply not an option'. Senior executes and regularity bodies all aware how it must change in the wake of the failure business and financial scandals as seen in recent years. In the same time there are rapid growth and use of international strategy amongst multinational enterprises (MNEs) from both advanced and emerging markets. They have benefited tremendously from International strategy alliance, outsource parts to exploit resources and knowledge/technology expertise from other countries, to gain international market share. All these MNEs activities have to be carefully handle, as it affects world economies, and when scope enlarge, risks and complexities expands. Indeed there are genuine needs for ERM as illustrated.

When dealing with enterprise management, an apparent concernis profit assurance. As with investors' point of view, 'risk' is defined as the uncertainty on borrowed funds will or will not be repaid. An interesting relation about risk and profit provided by (Knight, 1933) 'change according to a known law does not give rise to profit, nor does risk if measureable', he interpret if risk can be measure, it can then be eliminated by insurance or some equivalent device. This risk attitude aligns with current financial practice, the greater the risk of an investment, the more the investors expect to be paid back i.e. risk-return spectrum. (CFA, 2010) On the other hand, enterprise risk management raise on the beliefs that risk should be managed and report, if organization where able to reduce risk, it will be able to reduce capital and hence, costs, then firms could performs better i.e. opportunity could be hinge and threats to be minimize.

ERM is a fairly new discipline, it extend the risk-return view, and equip a framework for corporate decision makers for a holistic management concepts of aggregated risk in the enterprise level, consist with the economic decisions facing the firm. This provides an insightful aspect when comparing to traditional risk management (RM), that assess risk individually. Here we emphasis the shortfall in overseeing each risk on a stand-alone basis, because risk aggregation may be able to combine them into a low-risk portfolio, due to their complementary and interdependence nature. It is particular important to acknowledge how might the total burden or benefit of the associated risks will affect the decision of the organization as a whole.

The factors that characterize and, in many occasions, shape the development process of a project, affect to a great extend the determination of its risk level. In the present research, five main characteristics of the software development projects will be studied.

The first of these is Project Scope, which in this case is going to be studied through an indicator, Project Duration. This indicator is selected as the measure for project scope because, the collection of duration information is easy for most projects and it is suitable to survey-based data collection procedures.

The second characteristic has to do with whether a project is carried out totally In-house or in ...