Validation of Mix Method Risk Management Framework through Expert Judgement

Abstract

Risk Management plays a vital role in the establishment of information systems in any organization. Researchers have proposed several risk management frameworks and models in organizational context. Those studies were using either qualitative or quantitative approach and are mostly tool based and complex in structure. This study has aimed to develop a risk management framework using both qualitative and quantitative approaches. Initially an algorithm was developed which has been converted to an architecture/ framework. The framework has been validated through expert judgment. It has been sent to 150 domain experts from various software industries. These results were statistically verified and found an incredible support for the proposed framework.