The paper “ Project Management of Information Systems” is a fascinating variant of an essay on information technology. Risk management is a very important function in today’ s corporate world that is heavily reliant on information systems. However, in most cases, this function does not seem to work. Management of information systems can never be successful if risks that come with these systems are not properly assessed and managed. Companies, organizations, and institutions often come up with projects that are based on information systems. This makes it necessary for elements of Project Management Information Systems to be incorporated into the planning process.
The main reason why risk management function does not seem work is that there are very many variables to be considered, most of which are beyond the capacity of the risk managers. In order to determine why risk management often ends up in failure, it is important for attention to be put on both qualitative and quantitative risk assessment methods. Quantitative risk assessment methods, owing to their inaccuracy are often shunned by many risk managers, who prefer to use qualitative methods. The risk assessment process presents information system managers with information on different courses of action. The manner in which different risk management courses of action are implemented determines whether the information system security will be enhanced or not.
Mitigation is more effective than transference. Transferring risks to a different company, mostly an insurance company, often increases overhead costs significantly. Most importantly, risk managers have to be keen on cost-effectiveness. Where the cost of addressing risks is very higher than the value of the data being protected, the acceptance strategy is adopted.
When this happens, it is considered to be a sign of breakdown on the part of the risk managers (Senn 1998 p. 314). Information SystemsInformation systems comprise of all electronic, written, or graphical methods that are used to communicate information. Information systems are the basis of information sharing and processing. Computers and telecommunication systems are very important components of information systems. In general terms, people use the term “ information system” to refer to the information technology that makes it possible for an individual or organizational objective to be accomplished.
The technology used makes it easy for information to be gathered, processed, stored and disseminated. Users of information systems require specialized training in order to utilize information technology most effectively. Information technology comprises the use of computer technology as well as data communications technology. Computers make it possible for data to be stored, processed, and shared with people who are in remote locations, mainly through different types of networks. The use of information systems in corporate settings has been made possible by recent technological advancements in computer software, hardware, networks.
Personal computers have revolutionized the world of computing because they are widely used by companies, organizations, educational institutions as well as individuals in order for computing, communication, and information sharing purposes. The popularity of modern personal computers, laptops, palmtops, and personal digital assistants has been spurred by the development of the internet. Computer software comprises a set of programs, as well as associated data that are meant to guide the computer, is doing a certain activity. All functions of computers, including arithmetic calculations, printing documents, copying data, and sending email messages are guided by computer software.
Computer networks make it possible for the information to be shared by people who are in geographically remote locations. Examples of computer networks are local area networks and wide area networks.
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