What does Cloud Computing mean for project managers?

Cloud computing projects can be delivered in a variety of ways, including software development and infrastructure. This has led to a change in project management.
Cloud computing projects have the same elements as any other but the order in which they must be completed is a little jumbled. The focus is on certain areas more than usual and there are additional risks.
Although the instant availability of computing resources solves certain problems, such dependencies on procurement or provisioning of resources, it is replaced by far more legal and contractual issues that must be managed earlier. What does Cloud Computing really mean for project management?
Web-based Project Management SoftwareNewer ProcessesWeb-based Project management SoftwareLess CostsGreater Information-sharing among Team Members, Customer Team members, and Executive ManagementRapid Dashboard Info about Portfolio of ProjectsMore remote ManagementMeetings with Web-based ToolsVendors will go to great lengths in telling us how familiar cloud computing to their existing offerings. However, things are very different. Most project managers have the basic skills to manage a project in cloud computing. Many project managers don’t have the necessary skills to manage a cloud computing project.
Moving Activities Upstream
There are interesting opportunities to move activities that were previously downstream activities to the cloud. The areas of cloud computing projects that should be emphasized include security, billing, and operational handover. These are the areas that are often overlooked or assumed to be part of traditional projects.
The project manager will need spend a lot time calming fears, proving the solution, and generally giving assurance and answers when few are available. New Risks
New risks arise with any new technology or concept. Cloud computing projects face the greatest risks because of non-technical factors. For example, a senior stakeholder may read a sensationalized story about data theft in the cloud, and then, fearing legal action or negative brand reputation, decides to move the new cloud computing initiative to premise.
Other risks include issues that arise from vendor platform or tool immaturity, availability and skills, increased engineering cost, inability to meet certain requirements (such latency), compliance issues, and a host of other problems that could befall the unsuspecting project managers.