Risk Management in IT projects

Risk management in IT projects involves identifying, assessing, and prioritizing potential problems that could affect the project's success. This process ensures that teams can anticipate challenges, such as technical failures, budget overruns, or timeline delays. By analyzing these risks, project managers can develop strategies to mitigate them, like creating backup plans or allocating resources effectively. Ultimately, effective risk management helps teams deliver projects on time and within budget while minimizing disruptions, ensuring the project's goals are achieved despite uncertainties.