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The first challenge of reluctance towards RM requires soft skills and would be addressed by sufficiently discussing the importance of RM to all participants in order to deal with any existing bias and defining responsibilities so that everyone can work towards achieving a common goal (Hillson 2004). Secondly, since project management involves risk management, it would be integrated with project management as a whole measure of preventing failure and the process of RM as previously explained would be followed, utilizing both soft and hard skills in the process (Barkley 2004). Lastly, the third and fourth challenges require that the participants are fully aware about RM and the commitments that need to be in place especially that of the project manager being the utmost. As a hybrid manager, sufficient training would be ensured to raise awareness for risks and RM coupled with guidance by the manager him/herself (Kezner 2009). As it is inevitable to have a key participant being replaced, for instance, the project manager in Tenovis, this could have been postponed in order not to disrupt the full commitment required of the project manager. Alternatively, the new project manager needs to be carried along and trained as soon as possible to still take charge of the RM process. Although project risk management could be a daunting task (Kwak & Stoddard 2004), the role it plays in curbing IS project failure cannot be over-emphasized. A well implemented risk management should be successful while failure in employing best practices could result into failure and turns out to create an impression that RM is ineffective (Royer 2002). It is however important to bear in mind the critical success factors for effective RM as most people's perception of risk management is unfavourable and as evident in the case of Tenovis, this makes its implementation quite challenging. In essence, the issues with risk management should not discourage organizations from implementing it effectively in projects, particularly IS projects but rather, they should improve on how it is applied by considering best practices to assist in guiding their projects towards success. |
