Design Thinking as a Tool for the Analysis of Project Risks

2019 ◽  
Vol 16 (6) ◽  
pp. 60-77
Author(s):  
E. V. Vasilieva ◽  
T. V. Gaibova
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Design Thinking ◽  
Management Tools ◽  
Project Risk ◽  
Team Members ◽  
Investment Projects ◽  
Risk Management Process ◽  
Project Objectives ◽  
Project Risk Analysis

This paper describes the method of project risk analysis based on design thinking and explores the possibility of its application for industrial investment projects. Traditional and suggested approaches to project risk management have been compared. Several risk analysis artifacts have been added to the standard list of artifacts. An iterative procedure for the formation of risk analysis artifacts has been developed, with the purpose of integrating the risk management process into strategic and prompt decision-making during project management. A list of tools at each stage of design thinking for risk management within the framework of real investment projects has been proposed. The suggested technology helps to determine project objectives and content and adapt them in regards to possible; as well as to implement measures aimed at reducing these risks, to increase productivity of the existing risk assessment and risk management tools, to organize effective cooperation between project team members, and to promote accumulation of knowledge about the project during its development and implementation.The authors declare no conflict of interest.

Project Risk Management Process for Professionals

2018 ◽  
pp. 277-299
Author(s):  
Tamas Toth ◽  
Zoltan Sebestyen
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Risk Category ◽  
Project Risk ◽  
Risk Management Process ◽  
Minimum Requirements ◽  
Integrated Project ◽  
Assessment Procedures ◽  
Project Risk Analysis ◽  
Project Risk Assessment

This chapter will provide an instantly applicable integrated project risk analysis method, which tracks the probabilities of the occurrences of harmful events perceived by the owners from the conceptual phase to the end of the project. The chapter follows a threefold structure. First, the paper provides a revised integrated project risk assessment framework that enhances conventional risk category-based methods. Second, the minimum requirements of the owners are clarified to attain the main goal of project risk assessment and to identify the harmful events jeopardizing this goal. Third, the widely known risk assessment procedures are revised, and a methodology for taking and selecting proper risks is provided. Finally, a new valuation approach to the monitoring phase is introduced, which is able to capture the current market value of the project based on the risk management and controlling system's data.

Project Risk Management Process for Professionals

2018 ◽  
pp. 725-747
Author(s):  
Tamas Toth ◽  
Zoltan Sebestyen
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Risk Category ◽  
Project Risk ◽  
Risk Management Process ◽  
Minimum Requirements ◽  
Integrated Project ◽  
Assessment Procedures ◽  
Project Risk Analysis ◽  
Project Risk Assessment

This chapter will provide an instantly applicable integrated project risk analysis method, which tracks the probabilities of the occurrences of harmful events perceived by the owners from the conceptual phase to the end of the project. The chapter follows a threefold structure. First, the paper provides a revised integrated project risk assessment framework that enhances conventional risk category-based methods. Second, the minimum requirements of the owners are clarified to attain the main goal of project risk assessment and to identify the harmful events jeopardizing this goal. Third, the widely known risk assessment procedures are revised, and a methodology for taking and selecting proper risks is provided. Finally, a new valuation approach to the monitoring phase is introduced, which is able to capture the current market value of the project based on the risk management and controlling system's data.

Project Risk Management Process for Professionals

2016 ◽  
pp. 128-149 ◽  
Author(s):  
Tamas Toth ◽  
Zoltan Sebestyen
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Risk Category ◽  
Project Risk ◽  
Risk Management Process ◽  
Minimum Requirements ◽  
Integrated Project ◽  
Assessment Procedures ◽  
Project Risk Analysis ◽  
Project Risk Assessment

This chapter will provide an instantly applicable integrated project risk analysis method, which tracks the probabilities of the occurrences of harmful events perceived by the owners from the conceptual phase to the end of the project. The chapter follows a threefold structure. First, the paper provides a revised integrated project risk assessment framework that enhances conventional risk category-based methods. Second, the minimum requirements of the owners are clarified to attain the main goal of project risk assessment and to identify the harmful events jeopardizing this goal. Third, the widely known risk assessment procedures are revised, and a methodology for taking and selecting proper risks is provided. Finally, a new valuation approach to the monitoring phase is introduced, which is able to capture the current market value of the project based on the risk management and controlling system's data.

scholarly journals Features of Investment Risk Analysis and Assessment

2021 ◽  
Author(s):  
Nargiza Shaislamova ◽  
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Risk Analysis ◽  
Evaluation Method ◽  
Negative Impact ◽  
Investment Risk ◽  
Investment Projects ◽  
Risk Management Process ◽  
Risk Management Methodology ◽  
Break Even Point

The article examines the essence of the analysis and assessment of the risks of investment projects in the innovative development of the country's economy. One of the most important tasks for investors in the context of the coronavirus crisis is the analysis, assessment and effective management of risks that can affect investment projects before investing. And also, the investor must identify the factors that negatively affect the project and develop measures to reduce their negative impact. Based on the above, it can be said that improving the risk management methodology and evaluating investment projects based on modern and best practices has become one of the urgent tasks. In this article, the author explains the essence of risk management and presents the main stages of risk management developed by foreign and domestic economists, and also expresses her own opinion about the stages of risk management of investment projects in the form of a scheme. The article also presents the content of the methods of risk analysis that are frequently used in practice. In particular, the author shows the essence of methods for assessing investment risks, such as Break-even point, the sensitivity analysis of the project, the method of Scenarios, the method for assessing the sustainability of the project, Expert evaluation method, Analogy method, and others. We can identify two aims of research: 1) to study the stages of investment risk management, developed by foreign and domestic scientists, and, on their basis, to propose the stages of risk management, developed by the author; 2) to study various methods of risk assessment, which are a key part of investment risk management, and develop proposals for their application in Uzbekistan. To achieve the objectives of the study, the following tasks were identified:  explain the content of the economic categories “risk” and “investment risk”;  explain the content of investment risk management;  study of the process (stages) of investment risk management, developed by foreign and domestic economists;  development by the author of the stages of the investment risk management process;  study and outline methods for assessing the risks of investment projects;  development of recommendations on the application of risk assessment methods in Uzbekistan. Subject of research: methods for assessing the risks of investment projects. Information sources for writing the research was books and articles by foreign and domestic economists.

Project-to-Organization Matching

2012 ◽  
Vol 3 (3) ◽  
pp. 45-59 ◽  
Author(s):  
Fereshteh Mafakheri ◽  
Michèle Breton ◽  
Satyaveer Chauhan
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Decision Support ◽  
Risk Analysis ◽  
Project Managers ◽  
Two Dimensional ◽  
Software Projects ◽  
Project Risk ◽  
Management Capability ◽  
Project Risk Analysis

Recent studies show that the capacity of organizations to cope with risk is usually neglected in project risk analysis (see for instance Bannerman, 2008 in the context of software projects). Using single-dimension risk assessment approaches, vulnerability, or conversely competence of the organization, is not taken into account in the decision to or not to undertake a risky project. This paper proposes a two-dimensional multi criteria approach with the aim of providing a more complete risk assessment decision support to project managers, by jointly considering the degree of risk of projects along with the risk management capability of organizations.

Information Approach to Project Risk Analysis and Management

2000 ◽  
Vol 32 (11) ◽  
pp. 58-64
Author(s):  
Mikhail Z. Zgurowsky ◽  
Igor I. Kovalenko ◽  
Kuteiba Kondrak ◽  
Elias Kondrak
Keyword(s):  
Risk Analysis ◽  
Project Risk ◽  
Information Approach ◽  
Project Risk Analysis ◽  
Risk Analysis And Management
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