Project Portfolio Risk Management

2016 ◽  
pp. 279-300
Author(s):  
Nicolae Postăvaru ◽  
Bogdan Leonte
Keyword(s):  
Risk Management ◽  
Entire Group ◽  
Time Interval ◽  
Successful Implementation ◽  
Portfolio Risk ◽  
Complex Projects ◽  
Technical Risks ◽  
Overall Performance ◽  
Project Portfolios ◽  
Prioritization Scheme

The overall performance of a project portfolios doesn't rely on the successful implementation of the largest or complex projects, but on how the entire group of projects is managed. In most cases organizations don't have sufficient funds to implement multiple projects in a certain time interval and turn to sponsors in order to implement them. Depending on each sponsors' conditions for funding the project the organization has to create a prioritization scheme for accelerating, delaying or abandoning certain projects. The chapter focuses on managing projects and project portfolios risk in regard to sponsor conditions for funding projects, how these conditions together with technical and contractual risks generate new risks that affect the performance of the portfolio. The chapter concludes with recommendations on how to mitigate risks by developing specific methodologies for managing both financial and technical risks.

Project Portfolio Risk Management

2018 ◽  
pp. 1549-1570
Author(s):  
Nicolae Postăvaru ◽  
Bogdan Leonte
Keyword(s):  
Risk Management ◽  
Entire Group ◽  
Time Interval ◽  
Successful Implementation ◽  
Portfolio Risk ◽  
Complex Projects ◽  
Technical Risks ◽  
Overall Performance ◽  
Project Portfolios ◽  
Prioritization Scheme

The overall performance of a project portfolios doesn't rely on the successful implementation of the largest or complex projects, but on how the entire group of projects is managed. In most cases organizations don't have sufficient funds to implement multiple projects in a certain time interval and turn to sponsors in order to implement them. Depending on each sponsors' conditions for funding the project the organization has to create a prioritization scheme for accelerating, delaying or abandoning certain projects. The chapter focuses on managing projects and project portfolios risk in regard to sponsor conditions for funding projects, how these conditions together with technical and contractual risks generate new risks that affect the performance of the portfolio. The chapter concludes with recommendations on how to mitigate risks by developing specific methodologies for managing both financial and technical risks.

The impact of counterfeit risk management on healthcare supply chain performance: an empirical analysis

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mauro Falasca ◽  
Scott Dellana ◽  
William J. Rowe ◽  
John F. Kros
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
The United States ◽  
Equation Modeling ◽  
Significant Positive Effect ◽  
Healthcare Organizations ◽  
Content Type ◽  
Overall Performance ◽  
The Impact ◽  
Positive Effect

PurposeThis study develops and tests a model exploring the relationship between supply chain (SC) counterfeit risk management and performance in the healthcare supply chain (HCSC).Design/methodology/approachIn the proposed theoretical model, HCSC counterfeit risk management is characterized by HCSC counterfeit risk orientation (HCRO), HCSC counterfeit risk mitigation (HCRM) and HCSC risk management integration (HRMI), while performance is represented by healthcare logistics performance (HLP) and healthcare organization overall performance (HOP). Partial least squares structural equation modeling (PLS-SEM) and survey data from 55 HCSC managers are used to test the research hypotheses.FindingsHCRO has a significant positive effect on HCRM, while HCRM has a positive impact on HRMI. With respect to HLP, HCRM has a nonsignificant effect, while HRMI has a significant impact, thus confirming the important mediating role of HRMI. Finally, HLP has a significant positive effect on the overall performance of healthcare organizations.Research limitations/implicationsAll study participants were from the United States, limiting the generalizability of the study findings to different countries or regions. The sample size employed in the study did not allow the authors to distinguish among the different types of healthcare organizations.Originality/valueThis study delineates between a healthcare organization's philosophy toward counterfeiting risks vs actions taken to eliminate or reduce the impact of counterfeiting on the HCSC. By offering firm-level guidance for managers, this study informs healthcare organizations about addressing the challenge of counterfeiting in the HCSC.

scholarly journals THE RISK MANAGEMENT SYSTEM IS A TOOL FOR THE SUCCESSFUL IMPLEMENTATION OF INTERNATIONAL MEGAPROJECTS

2020 ◽  
Vol 11 (1) ◽  
pp. 98-103 ◽  
Author(s):  
D. V. Shamin
Keyword(s):  
Risk Management ◽  
Management System ◽  
Risk Tolerance ◽  
Successful Implementation ◽  
Monitoring And Control ◽  
Risk Management System ◽  
Management Processes ◽  
Integrated Risk ◽  
Risk Management Process ◽  
Integrated Risk Management

The article is devoted to the optimization of the processes of organization and management of international megaprojects based on the formation of a risk management system.Currently, the implementation efficiency of megaprojects remains low due to the emergence of many risks at various stages of project implementation.In this connection, it is proposed to form an integrated risk management system, which implies a three-stage structure for introducing the 6 element risk management system into the project life cycle, into the main project management processes.This article substantiates the need to form a risk management system in three stages in accordance with the key elements of a risk management system: (1) Planning – the block «Objectives and environment of the project»; (2) Approval of the project – the blocks «Identification», «Classification», «Assessment of risks and risk tolerance», «Risk management plan»; (3) Monitoring and control – the block «Control and monitoring of risks».Thus, the proposed integrated risk management system provides: continuity of the risk management process based on the audit of the RMS; the ability to adjust RMS at the stage of forecasting a risk event; possibility of scenario modeling for forecasting risk reduction potential; risk management program, formed by current risks in order to increase the attractiveness of the mega-project for the investor.It is also proposed to introduce an audit of risk management processes and procedures based on an adapted methodology for the following components of the risk management system: defining events and setting goals; the internal environment of the organization; organization risk assessment; risk control tools; responding to risks; communications and information; risk monitoring.This technique allows you to take into account risks not only at the stage of project development, but also during its implementation, which ensures its feasibility, as well as an audit algorithm for risk management systems of a megaproject is developed and recommendations for improving the RMS through this tool are proposed.

Project portfolio risk analysis with the consideration of project interdependencies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Libiao Bai ◽  
Huijing Shi ◽  
Shuyun Kang ◽  
Bingbing Zhang
Keyword(s):  
Bayesian Network ◽  
Evaluation Model ◽  
Project Portfolio ◽  
Market Demand ◽  
Portfolio Risk ◽  
Project Schedule ◽  
High Stake ◽  
Content Type ◽  
Project Portfolios ◽  
Interdependent Risks

PurposeComprehensive project portfolio risk (PPR) analysis is essential for the success and sustainable development of project portfolios (PPs). However, project interdependency creates complexity for PPR analysis. In this study, considering the interdependency effect among projects, the authors develop a quantitative evaluation model to analyze PPR based on a fuzzy Bayesian network.Design/methodology/approachIn this paper, the primary purpose is to comprehensively evaluate project portfolio risk considering the interdependency effect using a systematical model. Accordingly, a fuzzy Bayesian network (FBN) is developed based on the existing studies. Specifically, first, the risks in project portfolios are identified from the project interdependencies perspective. Second, a fuzzy Bayesian network is adopted to model and quantify the interaction relationships among risks. Finally, the model is implemented to analyze the occurrence situation and characteristics of risks.FindingsThe interdependency effect can lead to high-stake risks, including weak financial liquidity, a lack of cross-project members and project priority imbalance. Furthermore, project schedule risks and inconsistency between product supply and market demand are relatively sensitive and should also be prioritized. Also, the validity of this risk evaluation model has been proved.Originality/valueThe findings identify the most sensitive risks for guaranteeing portfolio implementation and reveal interdependency effect can trigger some specific risks more often. This study proposes for the first time to measure and analyze project portfolio risk by a systematical model. It can help systematically assess and manage the complicated and interdependent risks associated with project portfolios.

Portfolio Risk Management Analysis

2010 ◽  
pp. 453-464
Author(s):  
Kandi Brown ◽  
William L. Hall ◽  
Robert Barrett ◽  
Patrick Gobb
Keyword(s):  
Risk Management ◽  
Portfolio Risk ◽  
Portfolio Risk Management

scholarly journals Successful Small-Scale Household Relocation after a Millennial Flood Event in Simbach, Germany 2016

Water ◽  
2020 ◽  
Vol 12 (1) ◽  
pp. 156 ◽  
Author(s):  
Barbara Mayr ◽  
Thomas Thaler ◽  
Johannes Hübl
Keyword(s):  
Risk Management ◽  
Flood Risk ◽  
Planning Process ◽  
Flood Risk Management ◽  
Flood Event ◽  
Small Scale ◽  
Successful Implementation ◽  
Adaptive Planning ◽  
Extreme Flood ◽  
Household Relocation

International and national laws promote stakeholder collaboration and the inclusion of the community in flood risk management (FRM). Currently, relocation as a mitigation strategy against river floods in Central Europe is rarely applied. FRM needs sufficient preparation and engagement for successful implementation of household relocation. This case study deals with the extreme flood event in June 2016 at the Simbach torrent in Bavaria (Germany). The focus lies on the planning process of structural flood defense measures and the small-scale relocation of 11 households. The adaptive planning process started right after the damaging event and was executed in collaboration with authorities and stakeholders of various levels and disciplines while at the same time including the local citizens. Residents were informed early, and personal communication, as well as trust in actors, enhanced the acceptance of decisions. Although technical knowledge was shared and concerns discussed, resident participation in the planning process was restricted. However, the given pre-conditions were found beneficial. In addition, a compensation payment contributed to a successful process. Thus, the study illustrates a positive image of the implementation of the alleviation scheme. Furthermore, preliminary planning activities and precautionary behavior (e.g., natural hazard insurance) were noted as significant factors to enable effective integrated flood risk management (IFRM).

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