scholarly journals Norms and international standards related to reduce risk management: A literature review

2011 ◽  
Vol 1 (3) ◽  
pp. 58-73 ◽  
Author(s):  
César Fuentes ◽  
Edmundo R. Lizarzaburu ◽  
Edgar Vivanco
Keyword(s):  
At Risk ◽  
Risk Management ◽  
Project Management ◽  
Literature Review ◽  
International Standards ◽  
Current Work ◽  
Reduce Risk ◽  
Rules And Standards

The current work aims to develop a revision of the literature within the main concepts in the international rules and standards related to risk management in companies. By this way, there will be an analysis of issues such as the COSO - ERM model, an introduction to the ISO 27000 and 31000 standards; and the Project Management according to PMI targeted at risk management.

scholarly journals Risk Management as a Process Security Tool

2019 ◽  
Vol 1 (1) ◽  
pp. 234-239 ◽  
Author(s):  
Anna Kiełbus ◽  
Dariusz Karpisz
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Literature Review ◽  
Rapid Prototyping ◽  
International Project ◽  
Management Process ◽  
Process Safety ◽  
Successful Completion ◽  
Management Processes ◽  
Risk Management Process

AbstractThe article presents the essence and significance of risk management processes in the project, as the key field for successful completion of the project, in the field of project management. Based on literature review, the methods and standards of risk management in the project as well as standards related to process safety were defined. The risk management process according to the PMBoK methodology was discussed as an example of an international project entitled 3DCentral – Catalyzing Smart Engineering and Rapid Prototyping.

Application of Risk Significance Index Score to Construction Projects in Malaysia

2013 ◽  
Vol 838-841 ◽  
pp. 3102-3108
Author(s):  
Boon Hoe Goh ◽  
Byung Gyoo Kang ◽  
Chung Lian Liew ◽  
Wee Kang Choong ◽  
Tuck Wai Yeong
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Literature Review ◽  
Construction Industry ◽  
Questionnaire Survey ◽  
Construction Projects ◽  
Index Score ◽  
Project Risk ◽  
Interview Survey ◽  
Potential Risks

Risk management is one of the most important areas in project management particularly in the construction industry. However it is not possible to analyze all of the potential risks as it will require too much time and effort. Therefore in order to identify and analyze the significant risks, the risks should be categorized and ranked. This research applied the concept of risk significance index score to construction projects in Malaysia. A comprehensive list of 40-potential risks has been developed through literature review and an interview survey. A questionnaire survey was conducted to produce project risk significance index score for the risks. The ranks of the risks have been identified and solutions for the significant risks have been produced through interviews. This research proves the practical use of risk significance index score for construction projects in Malaysia.

scholarly journals Integrative Approach to the Plant Commissioning Process

2013 ◽  
Vol 2013 ◽  
pp. 1-12 ◽  
Author(s):  
Kris Lawry ◽  
Dirk John Pons
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Ad Hoc ◽  
Traditional Approach ◽  
Integrative Approach ◽  
Critical Examination ◽  
Production Engineering ◽  
Structured Model ◽  
Management Project ◽  
Reduce Risk

Commissioning is essential in plant-modification projects, yet tends to be ad hoc. The issue is not so much ignorance as lack of systematic approaches. This paper presents a structured model wherein commissioning is systematically integrated with risk management, project management, and production engineering. Three strategies for commissioning emerge, identified as direct, advanced, and parallel. Direct commissioning is the traditional approach of stopping the plant to insert the new unit. Advanced commissioning is the commissioning of the new unit prior to installation. Parallel commissioning is the commissioning of the new unit in its operating position, while the old unit is still operational. Results are reported for two plant case studies, showing that advanced and parallel commissioning can significantly reduce risk. The model presents a novel and more structured way of thinking about commissioning, allowing for a more critical examination of how to approach a particular project.

Project Risk Management

2017 ◽  
pp. 1-28
Author(s):  
Yuri Raydugin
Keyword(s):  
Risk Management ◽  
Project Management ◽  
International Standards ◽  
Project Risk Management ◽  
Project Risk ◽  
Management Knowledge ◽  
Knowledge Area

Project risk management (PRM) is considered a relatively new project management knowledge area by many project practitioners that still possesses traits of an emergent discipline and a signature of immaturity. PRM borrows various methodologies from more mature disciplines to address its challenges. As a result, multiple versions and realizations of PRM have emerged. Quite a few national and international standards have been developed to guide and regulate PRM. At the same time PRM practitioners complain on lack of practical and efficient PRM methods and tools that are recognized and accepted by PRM community at large. Moreover, the practicality void opens a door to practitioner's prolific creativity and, unfortunately, to multiple PRM fallacies. Some of fallacies already reside in PRM standards. This chapter analyses most popular PRM fallacies and puts forward several proven PRM practices to handle and displace corresponding fallacies.

scholarly journals Optimized Application of Sustainable Development Strategy in International Engineering Project Management

Mathematics ◽  
2021 ◽  
Vol 9 (14) ◽  
pp. 1633
Author(s):  
Zhiwu Zhou ◽  
Julián Alcalá ◽  
Víctor Yepes
Keyword(s):  
Sustainable Development ◽  
Project Management ◽  
Literature Review ◽  
Management System ◽  
Research Method ◽  
Programming Algorithm ◽  
International Project ◽  
Engineering Project ◽  
Project Management System

The aim of this paper is to establish an international framework for sustainable project management in engineering, to make up the lack of research in this field, and to propose a scientific theoretical basis for the establishment of a new project management system. The article adopts literature review, mathematical programming algorithm and case study as the research method. The literature review applied the visual clustering research method and analyzed the results of 21-year research in this field. As a result, the project management system was found to have defects and deficiencies. A mathematical model was established to analyze the composition and elements of the optimized international project management system. The case study research selected large bridges for analysis and verified the superiority and practicability of the theoretical system. Thus, the goal of sustainable development of bridges was achieved. The value of this re-search lies in establishing a comprehensive international project management system model; truly integrating sustainable development with project management; providing new research frames and management models to promote the sustainable development of the construction industry.

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