Information Technology Project Risk as a Dynamic Phenomenon

Abstract

Information systems (IS) research provides strong evidence for the effect of information technology (IT) project risk and on-project failure. However, no consensus has yet been reached on what constitutes risk and how it should be specified. Existing definitions of the risk construct are diverse leading to fragmented scientific knowledge. This article specifies IT project residual risk as an aggregate multidimensional construct comprised of four dimensions: project sources, undesirable events, risk management mechanisms, and expected outcomes. The construct accentuates the dynamic nature of IT project risk and can help reorganize the abundant risk factors found in the IS literature under its four dimensions while exposing their interactions.