ISDP2: Information system development toolkit – UNIT 4 RISK MANAGEMENT

Risk Management (RM) is the process of assessing risk, taking steps to reduce risk to an acceptable level and maintaining that level of risk. It also refers to the process of accepting, transferring, or mitigating risk. 2.0 OBJECTIVES By the end of this unit, you should be able to: • Define the concept of risk in system development. • Explain the mechanism of risk management. • Categorize risk sources to information system projects. • Explain the process of limiting risk to system projects.