Software risk management barriers: An empirical study

This paper reports results from a survey of experienced project managers on their perception of software risk management. From a sample of 18 experienced project managers, we have found good awareness of risk management, but low tool usage. We offer evidence that the main barriers to performing risk management are related to its perceived high cost and comparative low value. Psychological issues are also important, but less so. Risk identification and monitoring, in particular, are perceived as effort intensive and costly. The perception is that risk management is not prioritised highly enough. Our conclusion is that more must be done to visibly prove the value : cost ratio for risk management activities.