Identify project risks breaking them into categories: o Market risk: If the IT project will create a new product or service, will it be useful to the organization or marketable to others? Will users accept and use the product or service?

Identify project risks breaking them into categories:
o Market risk: If the IT project will create a new product or service, will it be useful to
the organization or marketable to others? Will users accept and use the product or
service? Will someone else create a better product or service faster, making the
project a waste of time and money?
o Financial risk: Can the organization afford to undertake the project? How confident
are stakeholders in the financial projections? Will the project meet NPV, ROI, and
payback estimates? If not, can the organization afford to continue the project? Is
this project the best way to use the organization’s financial resources?
o Technology risk: Is the project technically feasible? Will it use mature, leading-edge,
or bleeding-edge technologies? When will decisions be made on which technology
to use? Will hardware, software, and networks function properly? Will the
technology be available in time to meet project objectives? Could the technology be
obsolete before a useful product can be created? You can also break down the
technology risk category into hardware, software, and network technology, if
desired.
o People risk: Does the organization have people with appropriate skills to complete
the project successfully? If not, can the organization find such people? Do people
have the proper managerial and technical skills? Do they have enough experience?
Does senior management support the project? Is there a project champion? Is the
organization familiar with the sponsor or customer for the project? How good is the
relationship with the sponsor or customer?
o Structure/process risk: What degree of change will the new project introduce into
user areas and business procedures? How many distinct user groups does the
project need to satisfy? With how many other systems does the new project or
system need to interact? Does the organization have processes in place to complete
the project successfully?