The DOI matches its Crossref record.
Risk Management and Agency Theory in is Projects – an Exploratory Study
Abstract
The way in which project teams respond to problems and manage risks during IT project developments is affected by the organizational context. In particular, it is affected by the implicit ‘contract’ between the team and the organization. This contract is controlled through the adherence to formal methodologies and the use of organizational control system. This paper looks at risk management from the point of view of team behaviour, focusing on behavioural response to risks in terms of effort and risk aversion. Three case studies of project team behaviour are used to illustrate the types of risk management behaviour which may arise under different contracts between project team and organization.
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Inefficient use or absence of risk management in IT projects is accompanied by constant fire fighting, stress, uncertainty, repeated breakdowns of schedules and their revisions, as well as frequent lawsuits.
“Inefficient use or absence of risk management in IT projects is accompanied by constant «fire fighting», stress, uncertainty, repeated breakdowns of schedules and their revisions, as well as frequent lawsuits (Phelps 1996).”
From Analysis of 105 IT Project Risks (2023) · cites this paper as Phelps 1996
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Analysis of 105 IT Project Risks
Nikolaenko, V., & Sidorov, A. (2023) · Journal of Risk and Financial Management · doi:10.3390/jrfm16010033 · Cited by 22
Metadata
- Authors
- Phelps, R.
- Affiliations
- University of Surrey (GB)
- Corresponding author
- Phelps, Robert
- ORCID
- Phelps, Robert
- Venue
- Journal of Information Technology
- Publisher
- SAGE Publications
- Published
- 1996-12
- Volume
- 11
- Issue
- 4
- Pages
- 297-307
- ISSN
- 0268-3962 (ISSN-L)
- 1466-4437
- OpenAlex
- W2052581039
- Cited by
- 12
- References
- 0
- Citations by year
- 2026: 1 · 2025: 1 · 2023: 2
- FWCI
- 0.68
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Journal of Information Technology (publishedVersion)
- Journal of the Association for Information Systems (submittedVersion)
- Topics
- Physical Sciences › Computer Science › Information Systems › Software Engineering Techniques and Practices
- Social Sciences › Decision Sciences › Management Science and Operations Research › Construction Project Management and Performance
- Social Sciences › Business, Management and Accounting › Management Information Systems › Information Systems Theories and Implementation
- Keywords
- risk management, agency theory, IT project management, project teams, risk aversion, team effort, organizational contracts, formal methodology, organizational control systems, team behavior
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