scholarly journals A Case Study of Risk Management of Automotive Industry Projects Using RFMEA Method

2020 ◽  
Vol 4 (1) ◽  
pp. 42-50
Author(s):  
Leili Mirboroon ◽  
Hamideh Razavi
Keyword(s):  
Risk Management ◽  
Failure Mode ◽  
Automotive Industry ◽  
Quality Management System ◽  
Project Risk Management ◽  
Project Risk ◽  
Project Risks ◽  
Fmea Method ◽  
Definition Of

Considering the market need and customer attraction, automakers are always trying to define new projects and present products with new capabilities in the market. That is why a significant part of car companies’ development research is focused on the definition of new projects. Principally, project risk management in car companies is essential and thus given special attention. There are different theories and methods of project risk control. However, since there is complete awareness of FMEA-related issues (Failure Mode and Effects Analysis) in automotive companies due to the establishment of the quality management system, the project's risk analysis using FMEA method to control the risk of automotive industry projects is presented in this paper by a real example. For this purpose, FMEA indicators tables are designed and presented proportionally to project risk management. Results of this research show that using failure mode and effects analysis for project risk management ensures the detection of project's weaknesses and provides a practical model for identification and reduction of project risks.

Consistent Application of Risk Management for Selection of Engineering Design Options in Mega-Projects

2012 ◽  
Vol 1 (4) ◽  
pp. 44-55 ◽  
Author(s):  
Yuri Raydugin
Keyword(s):  
Risk Management ◽  
Engineering Design ◽  
Project Risk Management ◽  
Project Risk ◽  
Engineering Change ◽  
Engineering Change Management ◽  
Project Risks ◽  
Design Options ◽  
Selection Of

Traditional application of project risk management is limited to identifying and addressing project risks and then developing cost along with schedule contingencies. This paper proposes a method to consistently utilize the project risk management methods during Front End Engineering Design (FEED) phase of project development to select engineering design options. This method was called for recently to make several key engineering design decisions in a mega-project (case study). It allows significantly accelerate decision making and successfully manage various types of bias through leveraging the structure and visualization it provides. The proposed method is also applicable for engineering change management in any phase including operations.

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.

Project risk planning in high-tech new product development

2016 ◽  
Vol 29 (2) ◽  
pp. 110-124 ◽  
Author(s):  
Jorge Ayala-Cruz
Keyword(s):  
Risk Management ◽  
New Product Development ◽  
New Product ◽  
High Tech ◽  
Project Risk ◽  
Content Type ◽  
Management Framework ◽  
Risk Management Framework ◽  
Project Risks

Purpose The purpose of this paper is to present the implementation and testing of a modified project risk management framework that integrates PMI’s framework with Monte Carlo simulation to improve the effectiveness in high-tech new product development (NPD) projects. Design/methodology/approach The modified framework considers three bodies of knowledge: project management, risk management, and Monte Carlo simulation to produce an enhance project risk management framework. Its application is shown through a case study. Findings Using the integrated framework in a recent case study project and prior NPD projects measures (as benchmarks), it was shown that it could help to enhance risk responses caused by task durations and costs’ uncertainties. The framework proved to be better than segregated generic best practices and was key in providing insight to the issue of early project risk assessment. Research limitations/implications More experimental replications are required for enhancement effectiveness assertions of the framework, through the application of the framework to similar case studies. Furthermore, this could improve its reliability and soundness. Practical implications Future directions for research could include case and empirical studies that include hypothesis’s testing, and the integration of optimization procedure for improved NPD project’s planning and execution. Originality/value This paper outlines a way to close the gap of project risks management planning in NPD’s initiatives. It was motivated by a relatively new tendency in exploring integrated frameworks to deal with complex project risks issues.

scholarly journals Network Theory-Based Analysis of Construction Project Risks

2016 ◽  
Vol 5 (2) ◽  
pp. 24
Author(s):  
Hafida Lmoussaoui ◽  
Hicham Jamouli
Keyword(s):  
Risk Management ◽  
Network Theory ◽  
Construction Projects ◽  
Construction Project ◽  
Risk Identification ◽  
Project Risk Management ◽  
Monitoring And Control ◽  
Project Risk ◽  
Novel Approach ◽  
Project Risks

<p>Because of their specific and complex characteristics, construction projects are exposed to numerous risks of various natures, which make their management more difficult. In this setting, Project Risk Management is an indispensable activity for their successful delivery. It consists in the risk identification, assessment, prioritization, treatment, monitoring and control. This paper presents a novel approach for the identification of construction project risks and a network theory-based methodology for their modelling and analysis. These models serve as a powerful tools comparing to classical methods and provide a support for decision-making regarding Project Risk Management. A case study of a real construction project is used to illustrate these findings.</p>

Project risk management using fuzzy failure mode and effect analysis and fuzzy logic

2015 ◽  
Vol 20 (2) ◽  
pp. 207 ◽  
Author(s):  
Emad Roghanian ◽  
Nazanin Moradinasab ◽  
Elham Nabipoor Afruzi ◽  
Rahman Soofifard
Keyword(s):  
Risk Management ◽  
Fuzzy Logic ◽  
Failure Mode ◽  
Project Risk Management ◽  
Project Risk ◽  
Effect Analysis

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.

Amadubi Rural Tourism Project in Jharkhand: Development of Project Risk Management (B)

2015 ◽  
pp. 1-15
Author(s):  
Goutam Dutta
Keyword(s):  
Risk Management ◽  
Critical Path ◽  
Rural Tourism ◽  
Project Risk Management ◽  
Project Risk ◽  
Network Diagram ◽  
Likelihood Rating ◽  
Risk Sources ◽  
The Impact

This case should be taught after (A) case. This case study discusses how the stakeholders of the (A) can sit together can discuss prepare first the activities of the project, draw the network diagram, develop a critical path. The discussion further proceeds when these stakeholders through the discussion develop risk sources, assigns probabilities and computes the impact and likelihood rating.

Amadubi Rural Tourism Project in Jharkhand: Development of Project Risk Management (A)

2015 ◽  
pp. 1-13
Author(s):  
Goutam Dutta ◽  
Sumitro Santra
Keyword(s):  
Risk Management ◽  
Rural Tourism ◽  
Government Agencies ◽  
Project Risk Management ◽  
Project Risk ◽  
Role Of Government ◽  
Funded Project ◽  
Management Issues

Rural Tourism is an important feature in development of emerging states in India. This case study, an UNDP funded project with ministry of Tourism, GOI, focuses the problem faced by a NGO in developing a rural tourism in Jharkhand in India for a decade. The management issues are feasibility and financial viability, lack of project and infrastructure planning, role of government agencies. The case stresses need of project risk management in this type of private partner partnership

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