The Effectiveness of Risk Management in Project Success

Author

Vishwa GoswamiFollow

Completion Date

Winter 12-6-2024

Document Type

Thesis

Degree Name

Master of Science (MS)

Program or Discipline Name

Project Management

First Advisor

Dr. John Clark

Second Advisor

Tedd Wheeler

Abstract

Abstract: This study investigated the effectiveness of risk management on project success within agile software development environments. It addressed the increasing complexity and challenges that agile teams faced in managing risks, which, if unmitigated, could significantly hinder project outcomes relate to time, cost, quality, and stakeholder satisfaction. By examining the intersection of risk management practices with agile methodologies, the research identified critical gaps and proposed tailored solutions to enhance overall project success. The study emphasized the importance of incorporating risk management into project planning and execution, thereby increasing the likelihood of successful project outcomes. It analyzed the effects of organizational culture, leadership, and stakeholder engagement on risk management practices. The findings underscored the necessity for sophisticated digital management platforms and decision-making systems to effectively address risk management challenges. Furthermore, the research highlighted the need for a structured risk management framework specifically designed for agile environments, which would facilitate proactive risk identification and mitigation. By gathering qualitative data from various agile teams, the study provided a comprehensive understanding of the unique challenges faced in these contexts. Ultimately, this research contributed to both academic knowledge and practical applications by providing actionable insights on integrating risk management into agile frameworks, thereby affirming that effective risk management is a key determinant of project success. The implications of these findings extend beyond academia, offering valuable guidance for practitioners seeking to enhance their risk management strategies in agile projects. This study ultimately aimed to bridge the gap between theoretical frameworks and practical implementation, fostering a culture of risk awareness and proactive management within agile teams, thus ensuring better alignment with project goals and stakeholder expectations.

Recommended Citation

Goswami, V. (2024). The Effectiveness of Risk Management in Project Success. Retrieved from https://digitalcommons.harrisburgu.edu/dandt/52