scholarly journals The Interplay of Risk Management and Uncertainty: A Project Management Practice Perspective.

2009 ◽  
pp. 74-84
Author(s):  
Claude Besner ◽  
Brian Hobbs
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Management Practices ◽  
Management Practice ◽  
Management Approach ◽  
General Tendency ◽  
Management Tools ◽  
Empirical Perspective ◽  
Contextual Variability ◽  
Tools And Techniques

THE PAPER EMPIRICALLY MEASURES THE INTERPLAY BETWEEN RISK MANAGEMENT AND UNCERTAINTY AND THE CONTEXTUAL VARIABILITY OF RISK MANAGEMENT PRACTICE. THE RESEARCH FIRST CLARIFIES THE CONCEPTS OF UNCERTAINTY, RISK AND RISK MANAGEMENT. THE RESEARCH DEFINES RISK MANAGEMENT FROM AN EMPIRICAL PERSPECTIVE I.E., FROM AN EMPIRICALLY IDENTIFIED SET OF TOOLS THAT IS ACTUALLY USED TO PERFORM RISK MANAGEMENT. THIS TOOLSET IS DERIVED FROM THE RESULTS OF AN ONGOING MAJOR WORLDWIDE SURVEY ON WHAT EXPERIENCED PRACTITIONERS ACTUALLY DO TO MANAGE THEIR PROJECTS. THIS PAPER USES A SAMPLE OF 1,296 RESPONSES FOR WHICH THE INTERPLAY BETWEEN RISK MANAGEMENT AND UNCERTAINTY COULD BE MEASURED. The results are very coherent. They verify and empirically validate many of the propositions drawn from a review of the literature. But results challenge some of the propositions found in the conventional project management literature and some commonly held views. The research shows that the use of risk management practices and tools is negatively related to the degree of project uncertainty. This somewhat counter-intuitive result is consistent with a general tendency for all project management tools and techniques to be used more intensively in better defined contexts. The dominant project management paradigm is oriented towards reducing or controlling uncertainty, but is less well adapted to unforeseeable events and high levels of uncertainty. A better understanding of the reality of the actual practice leads to a discussion about supplementing the current paradigm with new approaches to manage the uncertainty that cannot be removed or reduced by the conventional project management approach.

Risk Management Practices in Indian Microfinance Sector

2018 ◽  
pp. 1-29
Author(s):  
Ashish Kumar Sana ◽  
Bappaditya Biswas
Keyword(s):  
Risk Management ◽  
Financial Management ◽  
Financial Stability ◽  
Management Practices ◽  
West Bengal ◽  
Microfinance Institutions ◽  
Management Tools ◽  
Operational Risks ◽  
Tools And Techniques ◽  
Structured Questionnaire

Microfinance institutions (MFIs) are exposed to a great number of risks such as institutional risks, operational risks, financial management risks, and external risks that threaten effective services to clients, financial stability, and future sustainability. In this background, the objectives of the chapter are (1) to understand the concept risk and risk management of MFIs and (2) to examine the risk management practices of select MFIs in West Bengal. Based on the objectives, a structured questionnaire has been prepared to examine risk management practices of MFIs and problems associated with implementing risk management tools and techniques. The study found that most of the MFIs have not adopted risk management tools and techniques so far in their institutions to minimize risks. The study also found that the small MFIs are lacking qualified and professional persons in management and hence facing more strategic and governance risks.

Project Management Practice, Generic or Contextual: A Reality Check

2008 ◽  
Vol 39 (1) ◽  
pp. 16-33 ◽  
Author(s):  
Claude Besner ◽  
Brian Hobbs
Keyword(s):  
Project Management ◽  
Management Practice ◽  
Management Tools ◽  
Reality Check ◽  
Levels Of Use ◽  
The Common ◽  
Primary Focus ◽  
Tools And Techniques ◽  
Patterns Of Practice ◽  
Levels Of Support

The purpose of this research is to contribute to a better understanding of project management practice by investigating the use of project management tools and techniques and the levels of support provided by organizations for their use. The study examines both general levels of use and variations among project types and contexts. Many aspects of project management practice are common to most projects in most contexts, while others vary significantly among different types of projects and among projects in different contexts. The purpose of this paper is to present empirical results that show both the common elements and the significant variations. The paper is based on a survey of 750 project management practitioners. The use of tools and techniques is seen here as an indicator of the realities of practice. The study found some aspects of practice to be common across all types of projects and all contexts, but on this background of similar patterns of practice, several statistically signifi-cant differences have also been identified. The primary focus of this paper is on these variations in practice.

PROJECT MANAGEMENT PRACTICE IN NIGERIAN PUBLIC SECTOR – AN EMPIRICAL STUDY

2012 ◽  
Vol 01 (08) ◽  
pp. 01-07
Author(s):  
OLATEJU Olawale I. ◽  
ABDUL-AZEEZ Ibraheem A. ◽  
ALAMUTU Salimonu A.
Keyword(s):  
Project Management ◽  
Public Sector ◽  
Developing Economies ◽  
Resistance To Change ◽  
Management Practice ◽  
Descriptive Analysis ◽  
Primary Data ◽  
Management Approach ◽  
Use Of Resources ◽  
Tools And Techniques

The application of Project Management (PM) tools and techniques in public sector is gradually becoming an important issue in developing economies, especially in a country like Nigeria where projects of different size and structures are undertaken. The paper examined the application of the project management practice in public sector in Nigeria. The PM Lifecycles, tools and techniques were presented. The study was carried out in Lagos because of its metropolitan nature and rapidly growing economy. Twenty three copies of questionnaire were administered to 23 public institutions in Lagos to generate primary data. The descriptive analysis techniques using percentages and table presentations coupled with coefficient of correlation were used for data analysis. The study revealed that application of PM tools and techniques is an essential management approach that tends to achieve specified objectives within specific time and budget limits through optimum use of resources. Furthermore the study noted that there is lack of in-depth knowledge of PM tools and techniques in public sector institutions sampled, also high cost of application was also observed by the respondents. The study recommended among others that PM tools and techniques should be applied gradually especially in old government institutions where resistance to change is perceived to be high.

scholarly journals The Role of Donor Agencies in Promoting Standardized Project Management in the Spanish Development Non-Government Organizations

2021 ◽  
Vol 13 (3) ◽  
pp. 1490
Author(s):  
Agustín Moya-Colorado ◽  
Nina León-Bolaños ◽  
José L. Yagüe-Blanco
Keyword(s):  
Project Management ◽  
International Development ◽  
Management Practice ◽  
Development Cooperation ◽  
Management Tools ◽  
Governmental Organization ◽  
Governmental Organizations ◽  
Non Governmental Organizations ◽  
Funding Mechanisms ◽  
Donor Agencies

Project management is an autonomous discipline that is applied to a huge diversity of activity sectors and that has evolved enormously over the last decades. International Development Cooperation has incorporated some of this discipline’s tools into its professional practice, but many gaps remain. This article analyzes donor agencies’ project management approaches in their funding mechanisms for projects implemented by non-governmental organizations. As case study, we look at the Spanish decentralized donor agencies (Spanish autonomous communities). The analysis uses the PM2 project management methodology of the European Commission, as comparison framework, to assess and systematize the documentation, requirements, and project management tools that non-governmental organizations need to use and fulfill as a condition to access these donors’ project funding mechanisms. The analysis shows coincidence across donors in the priority given to project management areas linked to the iron triangle (scope, cost, and time) while other areas are mainly left unattended. The analysis also identifies industry-specific elements of interest (such as the UN Sustainable Development Goals) that need to be incorporated into project management practice in this field. The use of PM2 as benchmark provides a clear vision of the project management areas that donors could address to better support their non-governmental organization-implemented projects.

An Investigation of Credit Risk Management Strategies of Private Commercial Banks of Bangladesh

2014 ◽  
Vol 2 (2) ◽  
pp. 77-87
Author(s):  
Abu Hanifa Md. Noman ◽  
Md. Amzad Hossain ◽  
Sajeda Pervin
Keyword(s):  
Risk Management ◽  
Credit Risk ◽  
Commercial Banks ◽  
Management Practices ◽  
Management Practice ◽  
Management Strategies ◽  
Third Party ◽  
Primary Data ◽  
Credit Risk Management ◽  
Risk Management Strategies

Objective - The study aims to investigate credit risk management practices and credit risk management strategies of the local private commercial banks in Bangladesh. Methodology -The investigation is conducted based on primary data collected from a set of both closed end and open end questionnaire from 23 out of 39 local private commercial banks in Bangladesh. Descriptive statistics has been used in processing the data and interpreting the results. Findings - The results reveal that credit risk management practice of the sample banks is sound which is attributed to the appropriate implementation of Basel II and credit risk management guidelines the country's central bank. The findings further show that use of Credit risk grading is most popular and effective criteria for measuring the borrowing capacity of the borrowers. In order to control credit risk and preventing losses from credit exposure banks give more focus on collateralization, accurate loan pricing and third party guarantee. Loan is monitored properly and credit reminder is given to the client if principal and interest remain outstanding for three months. The study further reveals that lack of experienced and trained credit officers, lack of genuine market information and Lack of awareness regarding non-genuine borrower are the most important problems of current credit risk management practices in Bangladesh. Novelty - To the best of the knowledge of the authors the study is the first that investigates credit risk management strategies of private commercial banks, especially on Bangladesh. Type of Paper - Empirical Keyword : Bangladesh; Commercial Bank; Credit risk; Credit risk management; Credit risk management strategies.

Factors influencing Midwestern grain farmers’ use of risk management tools

2019 ◽  
Vol 79 (2) ◽  
pp. 192-203
Author(s):  
Brian K. Coffey ◽  
Ted C. Schroeder
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
Mail Survey ◽  
Management Tool ◽  
Farm Size ◽  
Management Tools ◽  
Content Type ◽  
Multinomial Logit Regression ◽  
Decision Choices ◽  
Grain Farmers

PurposeThe purpose of this paper is to identify the relationships between grain farm and farmer profiles and their respective choices to use forward pricing techniques and revenue protection crop insurance to manage risk.Design/methodology/approachAn e-mail survey of Midwestern grain farmers elicited farmer demographic information, farm profile, risk attitudes and farmer use of forward pricing and revenue protection insurance. Responses regarding use of risk management tools were compiled as choices to use possible bundles of tools to account for simultaneous nature of the decision. Choices to use bundles of tools were used as the independent variable categories in a multinomial logit regression. Regressors were relevant data collected from the survey.FindingsFarm size, using a market advisory service, and being a technology adopter are the most important factors in predicting risk management tool use by grain farmers. Farmers tend to use forward pricing and revenue protection insurance in combination. Large farms are more likely to use forward pricing tools.Practical implicationsResults provide researchers, extension professionals and risk management specialists with a current understanding of how farm and farmer characteristics relate to use of risk management tools. The authors also elaborate on findings to provide guidance for future risk management research.Originality/valueThe survey covered 9 Midwestern states and 648 grain farmers. The survey results update understanding of grain farmers’ risk management practices. The empirical approach treats risk management decisions to use available tools as simultaneous, which recent literature suggests is more appropriate than earlier approaches.

scholarly journals BUSINESS RISK MANAGEMENT PRACTICES ADOPTED BY ENTREPRENEURS FOR BUSINESS SUCCESS IN DELTA STATE

2021 ◽  
pp. 1-7
Author(s):  
Samuel Ikelegbe ◽  
Romanus Udeh
Keyword(s):  
Risk Management ◽  
State Government ◽  
Management Practices ◽  
Management Practice ◽  
Business Management ◽  
Business Owners ◽  
Business Success ◽  
Business Risk ◽  
Level Of Significance ◽  
Structured Questionnaire

The study was a survey research; it focused on determining the extent entrepreneurs adopt risk management practices for business management practice in Delta State. The population of the study comprises of 860 business owners who are registered with the Ministry of Commerce and Industries in Delta State. The instrument for data collection was a structured questionnaire with 16 items. Data collected were analyzed using mean and Standard deviation. The null hypothesis was tested using ANOVA statistics at 0.05 level of significance. Findings from the investigation revealed that entrepreneurs in Delta State do not adopt business risk management practices in managing their businesses. It was recommended among others that the Delta State Government and Ministry of Commerce and Industries should sensitize business owners on business risk management practice to enhance business success.

scholarly journals U.S. National Debt- A Risk Management Approach

2019 ◽  
Vol 3 (1) ◽  
pp. 28-37
Author(s):  
Simin Hojat ◽  
Denise Ginzo
Keyword(s):  
Risk Management ◽  
Social Impact ◽  
Nobel Laureate ◽  
Management Approach ◽  
National Debt ◽  
Management Tools ◽  
The Social ◽  
The U.S ◽  
Research Show ◽  
The Ideal

The U.S. national debt reached the astounding figure of 22 trillion dollars in 2018 (Gomes & Sinclair, 2019). It splashed onto the headlines of newspapers and became a topic of interest for Nobel laureate economists, dividing opinions on the potential impacts and the necessity of corrective measures. Krugman (2019) advocates that the national debt is trivial for a large economy like the U.S.; whereas, economists, such as Summers (2019), assume a more cautious position in recommending clear restrictions on the never-ending rise in the national debt. Some intriguing questions persist: should measures to restrain or reduce the debt be taken? If so, what is the ideal time to put them into effect? The purpose of this study is to analyze the reasons for the increasing U.S. national debt and to raise a discussion on the ideas of these reputed economists to address these questions. Additionally, the fundamental principles of risk management have been explained to evaluate the national debt from a different perspective (Homan, 2013). The findings of this research show that there are similarities between the theory of risk management and the risk concerns involved in the U.S. national debt. The social impact of this research includes the potential for the risk management tools identified to be used in analyzing the sovereign national debt.

scholarly journals The use of adaptive project management practices and methodologies in the development of a professional doctoral program

2021 ◽  
Vol 14 (1) ◽  
pp. 44-62
Author(s):  
Gabriel Barroso De Azevedo ◽  
Emerson Antônio Maccari ◽  
Nader Asgary
Keyword(s):  
Project Management ◽  
Management Practices ◽  
Single Case ◽  
Doctoral Program ◽  
Evaluation Process ◽  
Management Control ◽  
Management Model ◽  
Primary Data ◽  
Structured Interviews ◽  
Management Tools

Purpose – Higher education institutions have used more and more project management tools to run development projects to create new professional postgraduate programs. The purpose of this research was to propose an adaptive project management model for creating a professional doctoral course in Business Administration, in order to fulfill the goals established by CAPES.Design/methodology/approach – For such, the qualitative approach was favored with the adoption of the single case study method. Semi-structured interviews were conducted with academic coordinators who are experts in the field in addition to the gathering of documents, thus using data triangulation to explore the phenomenon. The analysis of primary data and the analysis of documents from the Coordinating Agency for Advanced Training of Graduate Personnel (CAPES) served as inputs for analyzing and interpreting the results.Findings – As a result, we developed an adaptive project management model with the following characteristics: a) constant planning of activities, occurring in every cycle of interactions; b) iteration using short activities, allowing for more control of the project; c) validations performed continuously to ensure the goals proposed by CAPES are reached; and d) adaptable to change of scope during the execution phase of the project life cycle.Research limitations/implications – Among the limitations of the study is the lack of other studies related to the use of adaptive project management methodologies for developing postgraduate programs. And for future researches, we point out the need for applying the proposed model, to verify its efficacy and adherence to the development of a professional doctoral course.Originality/value – This study contributes to the academy by highlighting the need for project management as a tool and technique for the development of stricto sensu professional graduate programs. In this way, HEIs will be able to use a model of adaptive project management practices to achieve the objectives proposed by the CAPES evaluation process. As a result, HEIs are strengthened in the management, control and monitoring of the progress of their programs.

Corporate Governance and Risk Management on Listed Banks, The Tanzania Perspective

2021 ◽  
Vol 8 (1) ◽  
pp. 27
Author(s):  
Erick Lusekelo Mwambuli ◽  
Avitus Mwebembezi Dominick
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Board Of Directors ◽  
Ownership Structure ◽  
Management Practices ◽  
Stock Exchange ◽  
Management Approach ◽  
Financial Risks ◽  
The Board Of Directors

The study was to assess on corporate governance and risk management in Tanzania. The study was guided by three objectives which were to assess if transparency, disclosure and audit have significant effect on risk management of the firm, to assess if the board of directors have significant effect on risk management of the firm and evaluate if the ownership structure have significant effect on risk management of the firm. Furthermore, we assess how corporate governance and particularly board of directors, ownership structure, transparency disclosure and audit can affect risk management practices in the context of Dar es Salaam stock exchange listed banks. By the use of a content in analysis approach, the level of exposing the risks in terms of likelihood, consequences of such risk and the strategies used for managing that risk were identified for each kind of risk by using attributes. The results show that corporate governance is related to board of directors, ownership structure, transparency, disclosure and audit play a positive significant and crucial role in establishing an integrative risk management approach. The results from data collected demonstrate that corporate governance has positive significant effect in determining the the good quality of risk management through the level of risk-taking in decisions, especially in terms of financial risks management.

Sign in / Sign up

Export Citation Format

Share Document