Toward Enterprise Approach for Project Portfolio Risk Management

2020 ◽  
Vol 11 (2) ◽  
pp. 90-104
Author(s):  
Michael R. Breault ◽  
Simon Cleveland
Keyword(s):  
Risk Management ◽  
Project Portfolio ◽  
Portfolio Risk ◽  
Data Governance ◽  
Extant Literature ◽  
Management Processes ◽  
Portfolio Managers ◽  
Project Risks ◽  
Project Level

Extant literature suggests that organizations struggle with risk evaluation as part of their project portfolio selection. The lack of intentional intervention on the part of portfolio leadership, risk management processes, and practices executed by individual projects may not support optimal risk management at the portfolio level. As a result, portfolio managers are tasked with the identification of common risks and opportunities across projects and are required to respond with strategies that are beyond the scope of a project manager's authority. To address the problem, this study identifies the gaps in the extant literature in portfolio approaches to project risk management, recommends techniques for managing common project risks collectively at the portfolio level, and emphasizes the role of the organization in fostering effective risk management at the project level, particularly in the realm of data governance.

scholarly journals The influence of risk management on the project portfolio success – proposal of a risk intensity matrix

2021 ◽  
Vol 28 (2) ◽  
Author(s):  
Ricardo Luis Zanfelicce ◽  
Roque Rabechini Jr
Keyword(s):  
Risk Management ◽  
Portfolio Management ◽  
Durable Goods ◽  
Industrial Sector ◽  
Project Portfolio ◽  
Intensity Matrix ◽  
Management Processes ◽  
Survey Results ◽  
Object Of Study

Abstract: This article aims to understand how the risk management influences the project portfolio success. Two methodological approaches were selected in this research: a bibliometric survey followed by a case study. The object of study was the new products project portfolio of an organization from the industrial sector, manufacturer of durable goods. The findings revealed a low intensity of project portfolio risk management. This is aligned with the bibliometric survey results and with the evidence from the investigation performed on the case study unit. In order to evaluate the risk management influence over the portfolio success, this article proposes a matrix which suggests the risk management intensity associated with the project portfolio management processes. The proposed matrix application can be considered a contribution element to deepen the knowledge of the risk management influence on the project portfolio success.

scholarly journals Evaluating the role of scrum methodology for risk management in information technology enterprises

2021 ◽  
Vol 2 (1) ◽  
pp. 1-8
Author(s):  
Ahmed muayad younus Alzahawi ◽  
Mohanad Abumandil
Keyword(s):  
Information Technology ◽  
Risk Management ◽  
Small Scale ◽  
Information Technology Projects ◽  
Technology Firms ◽  
Management Processes ◽  
Information Technology Firms ◽  
The Relationship ◽  
Detrimental Impact

This study aims to investigate the relationship between Scrum framework and risk management processes in Malaysia. Companies discuss the management based on a concerned business scale and the influence risk management in Malaysia Information technology projects success. This research is targeting Information technology firms and technology projects. Were researched through guarantee inside and out comprehension of the postulation foundation. In the outcome segment, the author influences a few proposals for the case to small-scale organizations to actualize ventures and to develop risk management successfully. The phases of risk management, in particular the step of risk detection, have a detrimental impact on project performance. Furthermore, risk control has its own risks as a mechanism. This makes it impossible to know if risk management is an appropriate approach in the IT production process for managing and minimizing risks. The study shows the effect of risk management in IT businesses is utilized in the Scrum

scholarly journals Current Issues in Assessment of Risks Related to Investment Projects

2018 ◽  
Vol 7 (3.15) ◽  
pp. 336 ◽  
Author(s):  
Alexander Sergeevich Voronov ◽  
Mikhail Vladimirovich Karmanov ◽  
Irina Anatolievna Kiseleva ◽  
Vladimir Ivanovich Kuznetsov ◽  
Lidia Sergeevna Leontieva
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Investment Project ◽  
Investment Projects ◽  
Project Valuation ◽  
Analysis Methods ◽  
Project Risks ◽  
Capm Model ◽  
Definition Of

The definition of the essence of an object of management in economics is an indispensable component of professional risk management. Since the national risk management theory is just being formed, the need to find a clear and comprehensive definition for the notion "risks" is especially topical. Capital valuation is one of the most important issues, which needs to be solved by companies during ROI studies. This article makes an attempt to study the role of risk management in the implementation of investment projects. The main purpose of this article is to identify the main regularities which determine the peculiarities of risk assessment in business, being the key element facilitating the organization of investment projects. The objectives have been as follows: to review the basic concepts of risk management; to study its components in business; to reflect the system and risk management principles, and to carry out risk assessment; to consider the main kinds of risks in the business area.The article describes various types of investment and project risks, risk analysis methods for investment projects, as well as efficiency indicators of investment projects, and provides an analysis of risk factors and uncertainties during the development of investment projects. The peculiarities of the practical use of project risks’ analysis methods have been studied. Risk assessment methods for an investment project help evaluate its feasibility, the time within which it will start being profitable, as well as the probabilistic volume of its future profits. Investment project valuation models have been analyzed, in particular, the CAPM model for emerging capital markets. The DCF method has been studied, being the base for assessing the attractiveness of business in general and a company's investment project in particular.  

scholarly journals Project risk management in the construction of high-rise buildings

2018 ◽  
Vol 33 ◽  
pp. 03074
Author(s):  
Boris Titarenko ◽  
Amir Hasnaoui ◽  
Roman Titarenko ◽  
Liliya Buzuk
Keyword(s):  
Risk Management ◽  
Quantitative Analysis ◽  
Project Risk Management ◽  
Project Risk ◽  
Robust Approach ◽  
High Rise ◽  
Management Processes ◽  
Project Risks ◽  
Potential Impact ◽  
Project Data

This paper shows the project risk management methods, which allow to better identify risks in the construction of high-rise buildings and to manage them throughout the life cycle of the project. One of the project risk management processes is a quantitative analysis of risks. The quantitative analysis usually includes the assessment of the potential impact of project risks and their probabilities. This paper shows the most popular methods of risk probability assessment and tries to indicate the advantages of the robust approach over the traditional methods. Within the framework of the project risk management model a robust approach of P. Huber is applied and expanded for the tasks of regression analysis of project data. The suggested algorithms used to assess the parameters in statistical models allow to obtain reliable estimates. A review of the theoretical problems of the development of robust models built on the methodology of the minimax estimates was done and the algorithm for the situation of asymmetric “contamination” was developed.

GENESIS OF SCIENTIFIC CONCEPTS ABOUT PUBLIC ADMINISTRATION OF RISKS IN CONSTRUCTION

2018 ◽  
Vol 1 (11) ◽  
pp. 83-90
Author(s):  
Ihor Nikolayevich Vlasenko
Keyword(s):  
Risk Management ◽  
Public Administration ◽  
Design Decisions ◽  
Complex Needs ◽  
Economic Relations ◽  
Management Processes ◽  
Social And Economic Development ◽  
Public Risk ◽  
Global And Local

he article presents the characteristic of the scientific genesis of public risk management in construction in Ukraine, in global and local dimen- sions. The essence of the working organization of risk management in the con- struction and operation of buildings, taking into account the transformational processes in society, is disclosed. On the basis of the analysis of risks in construc- tion and taking into account the current realities, scientifically grounded ap- proaches to the formation of the risk system in the construction and operation of facilities in the system of public administration. It is noted that the risks and crisis phenomena in the construction complex gave a powerful impetus to un- derstanding the causes of the problems of decentralization and finding mecha- nisms for their elimination, in general. The trilateral mission of the state in the conditions of decentralization is the regulation of the macroeconomic role of the construction complex, the mechanism of economic relations of its participants, and ensuring the effectiveness of design decisions in the construction sector, by extending their competences on prevention and risk reduction in the construction industry by the local self-government bodies. To form a state decentraliza- tion policy for construction is required on the basis of knowledge of objective regional macro- and microeconomic investment-construction processes in ci- ties, economic mechanism and indicators of development of investment-build- ing complex and dynamics of social and economic development of regions. The mechanism of the construction complex needs to be improved, using new sources and forms of financing, achieving the balance of the goals of decentralization and its financial support. In addition, taking into account the European integration course of the announced reforms, the European understanding of the essence of risk management in construction during decentralization becomes of paramount importance. Therefore, further research requires the study of the experience of European countries in the implementation of risk management processes in con- struction during the decentralization of power and the analysis of foreign systems of management mechanisms, in the context of their implementation in the na- tional practice of public administration.

scholarly journals A Method for Risk Response Planning in Project Portfolio Management

2019 ◽  
Vol 51 (1) ◽  
pp. 77-95 ◽  
Author(s):  
Amir Ahmadi-Javid ◽  
Seyed Hamed Fateminia ◽  
Hans Georg Gemünden
Keyword(s):  
Risk Management ◽  
Portfolio Management ◽  
A Priori ◽  
Mathematical Optimization ◽  
Project Portfolio ◽  
Portfolio Risk ◽  
Key Factors ◽  
Project Portfolio Management ◽  
Response Planning ◽  
Risk Event

To improve the effectiveness of project portfolio risk management, a portfolio-wide approach is required. Implementing a proactive strategy, this article presents a method based on mathematical optimization to select an appropriate set of a priori local and global responses to address risks that threaten a project portfolio considering key factors, such as cost, budget, project preference weights, risk-event probabilities, interdependencies among work packages, and both occurrence and impact dependencies among risk events. As the proposed method has new features compared to the existing methods developed for a single project, it can also be used in project risk management.

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