Document Type

Closed Project

Publication Date

Winter 2003


Dragan Milosevic

Course Title

Project Management

Course Number

EMGT 545/645


Executive Summary As indicated in many research papers and project management journals, risk management is an essential element of project management and its absence can cause project failures. By implementing a generic risk management plan companies can significantly minimize possible negative impacts. To learn more about risk management concepts and see how they are applied in the business life, we decided to study a small software company, Trillium Software Inc., and its core technology project called workflow engine for e-business process management tool. In our paper, we have analyzed project management practices in Trillium and we tried to identify risk management aspect of it. We used questionnaires to find out if the company had any kind of risk management process in use and how its employees look at it. The information we gathered was able to give us a good picture of the current situation and show potential areas in the process to improve. Based on our findings, Trillium had some sort of risk identification process but had neither risk assessment nor risk control plan. Since the company is small and has limited resources, it cannot afford to spend too much time on complex risk management models implemented for big software companies with large size projects. One of our goals in this study is to share our conclusion with Trillium and to show them what is currently implemented and what is missing. By looking at our analysis, Trillium can develop a simple version of risk management process that will be generic enough to be used in all software projects. In our analysis, we also did literature research for risk management theory and used certain concepts in the recommendation. As an outcome of this study, we will provide a training package about risk management to Trillium Software Inc.


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