Bangalore: Nearly two thirds of organizations spend upto half of their budgets on outsourcing but it is realized that, it is essential to look into risk management capabilities to have an effect at the bottom line performance. Handful of organizations, who buy or outsource services, possess the skill of managing associated risks, reports Caroline McDonald of the National Underwriter. A survey conducted by ESI International on "Risky Business: Organizational Effectiveness at Managing Risk of Outsourced Projects," said organizations lack foundational skills and processes with respect to outsourcing. 615 contractor managers, subcontractor buyers, project managers, senior executives, and key outsourcing decision makers from a wide range of industries and government responded to this survey. Survey reveals that, 55 percent of respondents find their organization ineffective or only somewhat effective at assessing the risks of outsourced projects, while 35 percent said their organization is effective and only 6 percent said they are extremely effective at risk assessment. 54 percent believe that their respective organizations are somewhat effective at risk management and only 39 percent feel their organization has strong risk management culture. Barely, one third of the organizations feel that they are vivid in their articulation and in defining financial goals to outsourcing partners, whereas 32 percent of the respondents did not agree that their organization evaluates outsourced projects in time, when it comes to their organizational goals and objectives.