Business Intelligence and Agile Methodology for Risk Management in Knowledge-Based Organizations

Abstract

In this highly technology - dependent, knowledge- based economy, the causes for failure of most software development projects are related to rapid technology changes, in-flux business requirements, or failure to tackle risk. Accordingly, risk management plays significant and crucial role in organizations’ response to this rapidly changing economy. Risk management process is illustrated in four main steps: identify the risk, analyze the risk, treat the risk and monitor the risk. This chapter discusses and explores the role of business intelligence and agile methodology to manage risk effectively and efficiently. It explores the risk management traditional tools that are commonly used, the role of business intelligence in risk management, and the role of agile methodology in risk management.