The role of risk management practices in IT service procurement: A case study from the financial services industry

This study investigates the risks of service procurement and the role of risk management practices during service procurement processes for IT services. As a result, the study provides a typology for understanding risk in the IT service procurement context. The findings indicate that several practices related to risk management during the service procurement process are important in reducing the probability and impact of risks. The study shows how a collaborative approach to risk management with service providers is also necessary to manage service disruptions. As such, the results of the study exemplify how risk management practices can support the procurement process for services. Based on the practice-based view, this study provides an explorative framework and propositions for enhancing service performance through the adoption of risk management practices.