1 Real Options in IT Risk Management: An Empirical Validation of Risk-Option Relationships February 19, 2006 Michel Benaroch Martin J. Whitman School of Management Syracuse University Syracuse, NY 13244 Phone: (315) 443-3492 Fax: (315) 443-5457 mbenaroc@syr.edu Yossi Lichtenstein Department of Management Information Systems University College Dublin, Dublin 4, Ireland Phone: (353) 1 716 4706 Fax: (353) 1 716 4783 YossiL@il.IBM.com Karl Robinson Department of Management Information Systems University College Dublin, Dublin 4, Ireland Phone: (353) 1 716 4706 Fax: (353) 1 716 4783 karl.r.robinson@accenture.com --------------------------------------------------------- Forthcoming in MIS Quarterly ---------------------------------------------------------