Modeling methodology of the Risk Breakdown Structure for project risk management in construction

2011 ◽  
pp. 811-818
Author(s):  
R Mehdizadeh ◽  
D Breysse ◽  
M Chaplain
Keyword(s):  
Risk Management ◽  
Project Risk Management ◽  
Project Risk ◽  
Modeling Methodology ◽  
Risk Breakdown Structure

Conventional Project Risk Management (PRM) Methodologies

2020 ◽  
pp. 35-52
Author(s):  
Yuri G. Raydugin
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Systematic Error ◽  
Project Risk Management ◽  
Project Risk ◽  
Assessment Matrix ◽  
Project Objectives ◽  
Risk Breakdown Structure

Overview of the conventional PRM methodology is based on the introduction of a PRM system that comprises a PRM context, a PRM process, and PRM tools. Typical PRM process steps to identify, address, assess, monitor, etc risks are reviewed to comply with PRM context (i.e. features and challenges of a project). Main sorts of uncertainties related to risks as possible impacts on project objectives—uncertainties of identification, manageability, assessments of impacts and probabilities, and favourability—are discussed. Key PRM tools to support the PRM context and the process—a PRM plan, a bowtie diagram, a risk breakdown structure (RBS), a risk assessment matrix (RAM), and a risk register—are introduced. A role of psychological and organizational bias as a systematic error in the PRM process is elaborated.

scholarly journals Project risk assessment of higher education online learning project during the Covid-19 crisis

2021 ◽  
Vol 13 (4) ◽  
pp. 602-616
Author(s):  
Putra Endi Catyanadika ◽  
Dessy Isfianadewi Isfianadewi
Keyword(s):  
Higher Education ◽  
Risk Assessment ◽  
Risk Management ◽  
Online Learning ◽  
Online Teaching ◽  
Management Approach ◽  
Project Risk Management ◽  
Project Risk ◽  
Severity Scores ◽  
Risk Breakdown Structure

This research aims to identify and assess the project risks of online teaching in Indonesian higher education institutions during the COVID-19 crisis. Two analyses have been conducted using the project risk management approach. First, a triangulation analysis based on interviews with 35 online teaching stakeholders was implemented in order to construct a risk breakdown structure to identify major registered risks. Second, a risk assessment calculating the severity score of each registered risk was conducted using an online survey with 125 online teaching participants. The results of these analyses concluded that there were 11 registered risks, with the highest risk exposure in the technological area. In terms of risk criticality, inadequate Internet connection and an inconducive learning environment were selected as the most critical risks with the highest severity scores. These results imply the importance of focussing on the technological risk mitigation and strategy policies to prepare for future online learning projects after the COVID-19 crisis in Indonesia. Keywords: distance learning, online teaching, project risk management, risk breakdown, structure.  

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 Analysis of interactions among barriers in project risk management

2017 ◽  
Vol 14 (1) ◽  
pp. 153-169 ◽  
Author(s):  
Rahul V. Dandage ◽  
Shankar S. Mantha ◽  
Santosh B. Rane ◽  
Vanita Bhoola
Keyword(s):  
Risk Management ◽  
Project Risk Management ◽  
Project Risk
Sign in / Sign up

Export Citation Format

Share Document