scholarly journals Project risk management practices: the organizational maturity influence

2019 ◽  
Vol 12 (1) ◽  
pp. 187-210 ◽  
Author(s):  
José Crispim ◽  
Luiz Henrique Silva ◽  
Nazaré Rego
Keyword(s):  
Risk Management ◽  
Project Performance ◽  
Project Managers ◽  
Project Risk Management ◽  
Project Risk ◽  
Content Type ◽  
Project Complexity ◽  
Risk Practices ◽  
Organizational Maturity ◽  
The Relationship

PurposeThe purpose of this paper is to identify patterns of project risk management (PRM) practices’ adoption, and provides empirical evidence concerning the importance (and key attributes) of organizational PRM maturity to the use of risk-related practices and project performance.Design/methodology/approachThe research involved two phases: interviews with five project managers, and a worldwide survey of project managers that resulted in the analysis of 865 valid questionnaire responses. Cluster analysis was used to classify PRM practices’ use, factor analysis to detect the structure of the relationship between the variables measuring PRM practices’ use and a multiple regression analysis (with canonical correlation) to further reveal the different degrees to which PRM practices and organizational maturity are associated.FindingsThe identified patterns of risk practices’ adoption indicate that different contexts of organization PRM maturity and project complexity influence practices selection. The PRM practices related with targets (e.g. time-phased budget plan) are the most used, and those related to tools and techniques (e.g. S-curve) are the least used. Additionally, the obtained results confirm that organizational PRM maturity influences risk practices’ usage, moderated by project complexity, and organizational PRM maturity influences project performance.Originality/valueEmpirical methods were used to investigate the relationship between organizational PRM maturity and a large set of PRM practices with project complexity as a moderator. Gaps in the use of PRM practices (i.e. areas where more PRM knowledge and training are needed) were identified. Finally, this work identifies the attributes of organizational maturity with implications in practices’ usage and project performance.

scholarly journals The Impact of Soft Skills of Project Managers in Construction Project Performance as the Mediation Role of a Conceptual Project Risk Management

2020 ◽  
Vol 6 (1) ◽  
pp. 16-19
Author(s):  
Nasser Salim Al Saadi ◽  
Abdul-Kahar ◽  
Prof. Madya Dr. Norhayati Binti Zakuan
Keyword(s):  
Risk Management ◽  
Soft Skills ◽  
Project Performance ◽  
Project Managers ◽  
Theoretical Research ◽  
Future Research ◽  
Project Risk Management ◽  
Conceptual Approach ◽  
Project Risk ◽  
The Impact

This paper is a conceptual data presentation and analysis on the impact of soft skills of project managers in the construction industry as the target survey which is vital since rapid economic development has increased the demand for construction of infrastructure and facilities around the globe. The methodology used in this study is a conceptual approach based on qualitative analysis of theoretical research and empirical data. The review of literatures and discussions from previous studies showed that project management soft skills can be correlated with project risk management and project performance. It recommended future research of this topic quantitatively.

Customisable framework for project risk management

2017 ◽  
Vol 17 (1) ◽  
pp. 68-89 ◽  
Author(s):  
Jennifer Firmenich
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
New Institutional Economics ◽  
Future Research ◽  
Project Risk Management ◽  
Management Process ◽  
Project Risk ◽  
Content Type ◽  
Risk Management Process ◽  
Management Concepts

Purpose The purpose of this paper is to emphasise on the need for efficient and effective project risk management practices and to support project managers in increasing the cost certainty of projects by proposing a new framework for project risk management. Design/methodology/approach The author adopts a “constructivist” methodology, drawing on practices common in construction management sciences and new institutional economics. Findings The author presents a holistic and customisable project risk management framework that is grounded in both practice and academia. The framework is holistic because, amongst others, all steps of the typical risk management process are addressed. The framework is customisable, because it allows for alternative ways of implementing the project risk management steps depending on the project-specific circumstances. Research limitations/implications The framework does not address the potential unwillingness of the project players to set up a project risk management process, at all. The proposed framework has not yet been tested empirically. Future research will seek to validate the framework. Originality/value The framework is designed to account for the difficult circumstances of a complex construction project. It is intended to support decision makers in customising a practical yet comprehensive project risk management concept to the characteristics of the unique project. Although many other project risk management concepts are designed based on the assumption that actors are perfectly rational and informed, this framework’s design is based on the opposite assumption. The framework is dynamic and should adapt over time.

scholarly journals THE CURRENT STATE OF PROJECT RISK ASSESSMENT AND EDUCATION NEEDS IN PROJECT RISK MANAGEMENT

2019 ◽  
Vol 7 ◽  
Author(s):  
Matej Masár ◽  
Mária Hudáková
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Project Managers ◽  
Project Risk Management ◽  
Project Risk ◽  
Qualitative And Quantitative ◽  
Current State ◽  
The World ◽  
Project Risks ◽  
Project Risk Assessment

Current trends show that education in the field of project risk management is a very actual topic. Long - term projects, which was realized in 2018, was mainly focused on R&D across the world. Short - term projects, was focused on innovation and improve manufacturing processes. Many projects failed because project managers did not manage project risks. Project managers have less knowledge and skills on how to effectively manage project risks, especially risks in the planning phase of projects. The main aim of this article is to analyze the current state of usage project risk assessment across the world, based on own empirical research, which was provided, by authors in 2018 and 2019 (mainly level of usage project risk management methods, experience and level of education). The research focused on analyzing the current state of project risk assessment among continents. The authors focused on the average level of use qualitative and quantitative project risk analysis by project managers, level of project risk management experience by project managers and complexity of learning in using of qualitative and quantitative project risk management methods and tools.  Some recommendation were established to educate project managers in the field of project risk management.

Educating Project Managers to Deal With Project Risks

2018 ◽  
pp. 1606-1632
Author(s):  
Radu-Ioan Mogos ◽  
Constanta-Nicoleta Bodea ◽  
Stelian Stancu ◽  
Augustin Purnus ◽  
Maria-Iuliana Dascalu
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Education And Training ◽  
Project Managers ◽  
Project Risk Management ◽  
Curriculum Management ◽  
Management Competencies ◽  
Project Risk ◽  
Project Risks ◽  
And Training

During the last years, the development of the project risk management competencies became a ubiquitous objective for education and training in project management due to the increasing constraints which companies face on the implementation of their projects. Alignment to the professional standards and usage of innovative methods in designing and delivery of instruction represent common requirements that education and training providers should consider and fulfill. The authors examine the main challenges in addressing project risk management subject in the education programmes and identify how these challenges could be dealt by using curriculum management systems. In order to implement the identified improvements, the authors propose an innovative architecture for a curriculum management system, which can be adopted by those universities interested in developing competencies-based programmes in project management. Some preliminary results are presented and discussed.

scholarly journals Integrating risk management in the innovation project

2014 ◽  
Vol 17 (1) ◽  
pp. 25-40 ◽  
Author(s):  
John Bowers ◽  
Alireza Khorakian
Keyword(s):  
Risk Management ◽  
Case Studies ◽  
Process Model ◽  
Quantitative Methods ◽  
Innovation Process ◽  
Project Risk Management ◽  
Project Risk ◽  
Content Type ◽  
Innovation Projects ◽  
Innovation Project

Purpose – While innovation has many similarities to other forms of projects it is characterised by a high failure rate and the need to stimulate creativity. More explicit risk management could help in achieving success in innovation projects. However, too much or inappropriate risk management might stifle the creativity that is core to innovation. So, what project risk management should be applied and where in the innovation project? Design/methodology/approach – A theoretical framework is proposed which combines the generic innovation process with project risk management. The framework was used to analyse the current attitudes to managing innovation risk in a series of companies. Findings – The decision points of the stage-gate innovation process model provide an effective interface for incorporating project risk concepts. The general concepts appear most relevant to innovation management though it is useful to customise them to emphasise the particular characteristics of innovation projects. The experience of using the resultant combined model in a number of diverse case studies indicates the relevance of the model in understanding attitudes towards risk management in innovation. The analysis of the case study companies suggested that risk management needs to be applied in differential manner: simple, unobtrusive techniques early in the innovation life cycle with more substantial, quantitative methods being considered for later stages. Research limitations/implications – It would be useful to extend this research by examining more case studies from other countries and industries. Practical implications – The combined innovation and risk management model provides a framework that diverse companies can appreciate. The framework offers a basis for discussing the most appropriate form of risk management in different innovation-based industries. Originality/value – Although there are many separate models for innovation and project risk management described in the literature, there is very little discussion about explicitly combining these theories. This paper aims to help fill this gap in the knowledge.

scholarly journals Project Risk Management of Electrical Switchboard Delivery

2016 ◽  
Vol 15 (2) ◽  
pp. 85-103
Author(s):  
Dorota Kuchta ◽  
Ewa Ptaszyńska
Keyword(s):  
Risk Management ◽  
Research Methods ◽  
Project Managers ◽  
Project Risk Management ◽  
Computer Tool ◽  
Project Risk ◽  
Work Breakdown Structure ◽  
Management Procedure ◽  
Management Procedures ◽  
Project Risks

Background. In projects of electrical switchboard delivery we can identify many risks which are usually quite severe in their consequences, because these projects are high-budget projects. Our studies indicate that there are no formalised risk management procedures in many Polish companies that realise such projects. Research aims. Therefore we propose using a traditional risk management procedure adapted for projects of electrical switchboard delivery what was verified on the example of a selected company. Methodology. We use the following research methods: analysis of the documentation relating to completed projects of electrical switchboard delivery, interviews with project managers, and literature studies. Key findings. We obtained the following results: Work Breakdown Structure (WBS), list of identified project risks, list of risk responses, computer tool for managing identified risks in projects of electrical switchboard delivery. Based on the completed studies we can state that risk management is an important element of electrical switchboard delivery and should not be ignored in companies that realise such projects.

scholarly journals A New Maturity Model for Project Risk Management in the Automotive Industry

2018 ◽  
Vol 7 (3) ◽  
pp. 53-72 ◽  
Author(s):  
Jose Irizar ◽  
Martin George Wynn
Keyword(s):  
Risk Management ◽  
Automotive Industry ◽  
Project Managers ◽  
Project Risk Management ◽  
Maturity Model ◽  
Project Risk ◽  
Four Dimensions ◽  
Case Study Analysis ◽  
Management Capability ◽  
On Line

The purpose of this article is to present a new maturity model for the assessment and ongoing management of project risk management capability in the automotive industry. The research design is based on a multi-project case study analysis in a major German automotive company. The approach is qualitative and inductive, using 12 in-depth interviews with major stakeholders in the project management function in the company to provide data for the construction of the initial maturity model. This model is then verified and refined via an on-line survey and three follow-up interviews.The findings provide material for the construction of a new maturity model that can be used for the assessment of project risk management capability and as a tool for on-going monitoring and improvement. The model is structured around four dimensions of risk management – identification, assessment, allocation and appetite – and has four maturity stages – rudimentary, intermediate, standardised and corporate. The model is based on a detailed analysis of in-depth interview material in a specific industry sector. It can be used as a basis for similar research in other industries. The model adds to existing risk management maturity models and is unique in being specific to the automotive industry. It can be used by risk and project managers, and can also be adapted to other industry sectors.

The Rational Choice of Not Applying Project Risk Management in Information Technology Projects

2009 ◽  
Vol 40 (3) ◽  
pp. 72-81 ◽  
Author(s):  
Elmar Kutsch ◽  
Mark Hall
Keyword(s):  
Information Technology ◽  
Risk Management ◽  
Project Management ◽  
Project Managers ◽  
Project Risk Management ◽  
Management Process ◽  
Information Technology Projects ◽  
Project Risk ◽  
Risk Management Process ◽  
Project Management Institute

The management of risk is considered a key discipline by the Project Management Institute and the Association for Project Management. However, knowledge of what needs to be done frequently fails to result in action consistent with that knowledge. The reasons for this seem to have received little attention. This study researched the degree of use of project risk management and barriers that prevent IT project managers from using risk management. Interviews and a survey were carried out. The results show that, in one-third of cases, because of the problem of cost justification, no formal project risk management process was applied.

scholarly journals Successful implementation of project risk management in small and medium enterprises: a cross-case analysis

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Priscila Ferreira de Araújo Lima ◽  
Sara Marcelino-Sadaba ◽  
Chiara Verbano
Keyword(s):  
Risk Management ◽  
Small And Medium Enterprises ◽  
Cost Benefit ◽  
Successful Implementation ◽  
Project Risk Management ◽  
Project Risk ◽  
Content Type ◽  
Cost Benefit Ratio ◽  
Medium Enterprises ◽  
Cross Case Analysis

PurposeDespite the emergence and strategic importance of project risk management (PRM), its diffusion is limited mainly to large companies, leaving a lack of empirical evidence addressing SMEs. Given the socio-economic importance of SMEs and their need to manage risks to ensure the success of their strategic and innovative projects, this research aims to investigate how to adopt PRM in SMEs with a positive cost–benefit ratio.Design/methodology/approachThis study presents an exploratory and explanatory research conducted through multiple-case studies involving 10 projects performed in Spanish and Italian small and medium-sized enterprises (SMEs).FindingsThe results obtained highlight how project features (commitment type, innovativeness, strategic relevance and managerial complexity) and firms' characteristics (sector of activity, production system and access to public incentives) influence PRM adoption, leading to different levels and types of benefits.Originality/valueThe paper offers practical indications about PRM phases, activities, tools and organizational aspects to be considered in different contexts to ensure the project's success and, ultimately, the company's growth and sustainability. Such indications could not be found in the literature.

The role of project managers’ attributes in project sustainability management and project performance under China-Pakistan economic corridor

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Muhammad Zaheer Hashim ◽  
Liu Chao ◽  
Chao Wang
Keyword(s):  
Demographic Factors ◽  
Project Performance ◽  
Project Managers ◽  
Project Manager ◽  
Sustainability Management ◽  
Content Type ◽  
Upper Echelon Theory ◽  
Top Managers ◽  
Project Sustainability ◽  
The Relationship

Purpose Steered by upper echelon theory, this study aims to scrutinize the prevalence of project manager demographic factors (age, education and experience) in project sustainability management and project performance. Design/methodology/approach We used a sample of 209 project managers/supervisor/team leaders who were working in the projects of the China-Pakistan Economic Corridor (CPEC). Findings The results indicate that project manager demographic factors have a significant influence on project performance (except experience) and project sustainability management. Moreover, project sustainability management partially mediates the relationship between age, education and project performance while it fully mediates the path between experience and project performance. Practical implications The research recommends senior, high educated and experienced managers for CPEC who promote sustainability and gain high project performance. Originality/value A number of studies have been carried out to assess the relationship between top managers’ attributes and environmental activities. However, so far, none of the studies has paid attention to the CPEC and projects working in Pakistan.

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