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Developing a Project Risk Management Regulation

Student: Anastasia Fedorenko

Supervisor: Maksim Kurganov

Faculty: Faculty of Economics, Management, and Business Informatics

Educational Programme: Management (Bachelor)

Year of Graduation: 2021

Nowadays the area of risk management is becoming an essential part of project management in many IT companies. The need for effective risk management is dictated by the increased turbulence of the external environment. However, in practice, this area is often ignored, which affects the project schedule, leads to a significant decrease in revenue, as well as to a negative impact on the quality of IT product development. Within the framework of this research, the problem of unsystematic approach to risk management in the IT company “Simpl” is considered. To solve this problem, a complex risk analysis was carried out, then, consistent risk management processes were tested using qualitative and quantitative methods and tools. The results of research are recommendations that include strategies and measures for risk response planning, the application of risk monitoring tool – key risk indicators (KRI), and, finally, the development of a formal document – the Risk Management Regulation. The findings obtained are practically important for project managers and risk owners of the company “Simpl”. It is expected that the implementation of the Risk management Regulation on an ongoing basis will provide a structured approach and facilitate the general efficiency of the risk management in the company.

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