Final answer:
The risk that considers the possibility of the new IT system not being implemented on time or within budget is project risk.
Step-by-step explanation:
The risk that considers the possibility that the new IT system will not be implemented on time or within budget is project risk. Project risk refers to the potential problems or difficulties that might arise during the implementation of a project, such as delays and budget overruns.
For example, if a company is implementing a new IT system and encounters unexpected technical issues or lacks proper planning, it could lead to delays in the project timeline or exceed the allocated budget.