A New Statistical Model to Estimate Information System Contingency Budget

Development of an information system is a complex process, which expose to a great number of risks.Hence, the high failure rates long associated with information system projects, despite advances in techniques for information technology development, suggest that organizations need to improve their ability to identify and to manage associated risks. To improve the risk management in information system development projects, a pragmatic procedure is suggested to determine the size of a project's contingency plan budget at any specified level of certainty. Considering the interaction among risk factors, a method based on common risk factors and copula functions is used to model and quantify positive dependence