Use and benefits of tools for project risk management

Risk management is one of the key project management processes. Numerous tools are available to support the various phases of the risk management process. We present the results of a study designed to identify the tools that are most widely used and those that are associated with successful project management in general, and with effective project risk management in particular. The study is based on a questionnaire administered to a sample of project managers from the software and high-tech industries. The response data were analyzed in order to find which tools are more likely to be used in those organizations that report better project management performance and in those that value the contribution of risk management processes.