scholarly journals Measurement of Project Risk Management Maturity Level using Project Management Maturity Model (PMMM): Case Research a Telecommunication Company in Indonesia

2019 ◽  
Author(s):  
Akhmal Muammar Dwiki Rafsanjani ◽  
Devi Pratami ◽  
Achmad Fuad Bay ◽  
Ageak Raporte Bermano
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Project Risk Management ◽  
Maturity Model ◽  
Maturity Level ◽  
Project Risk ◽  
Case Research ◽  
Telecommunication Company

scholarly journals PROJECT RISK MANAGEMENT BASED ON A SET OF BEST PRACTICES

2021 ◽  
Vol 26 (3) ◽  
pp. 79-86
Author(s):  
Agnieszka JĘDRUSIK
Keyword(s):  
Risk Management ◽  
Life Cycle ◽  
Project Management ◽  
Best Practices ◽  
Project Manager ◽  
Project Risk Management ◽  
Project Risk ◽  
Golden Triangle ◽  
Project Life Cycle ◽  
Project Life

The purpose of this article is to present the process of risk management in project management. The analysis was based on a comparison of two best practices of IPMA and PRINCE. Risk management differs significantly between the two approaches, but it is up to the organization to choose its own management, monitoring and methodology tailored to the specific industry or sector. Risk management is an important aspect of the entire project life cycle and must be monitored throughout the project life cycle to protect not only the budget but all areas of the so-called "golden triangle". A very important aspect is the organization's awareness that risk management is everyone's responsibility, not just the project manager. This paper presents two different approaches to project risk management in two different methodologies.

Comprehensive Project Risk Management Methodology

2021 ◽  
Vol 8 (1) ◽  
pp. 94-115
Author(s):  
Luis F. Copertari
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Critical Path ◽  
Three Dimensions ◽  
Project Risk Management ◽  
Time Cost ◽  
Due Date ◽  
Project Risk ◽  
Computer Screen ◽  
Optimal Cost

The objective of this paper is to introduce and discuss the basics of a methodology called the Probabilistic Critical Path Method (PCPM) for managing the previously identified risks (uncertainty) of the three project management dimensions: time, cost and return (performance). An interactive Graphic User Interface (GUI) has been designed for visualizing the tradeoffs among these three dimensions as well as their uncertainties on a flat computer screen. The user can choose to visualize the probability of failure (exceeding some user given due date, budget or not exceeding a given Minimally Attractive Rate of Return – MARR) or the probability of success (not exceeding the due date and the budget and exceeding the MARR). PCPM allows for comprehensive project risk management and it constitutes a new integrative project risk management framework. This paper shows that it is possible to integrate all three project management dimensions (time, cost and return) and show their known risks as well as determining the optimal cost and the associated time and return for such optimal cost. Finally, it is possible to interactively show all this multidimensional information on a flat computer screen.

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.

scholarly journals An Assistance to Project Risk Management Based on Complex Systems Theory and Agile Project Management

Complexity ◽  
2020 ◽  
Vol 2020 ◽  
pp. 1-20
Author(s):  
Franck Marle
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Complex Systems ◽  
Systems Theory ◽  
Project Risk Management ◽  
Project Risk ◽  
Complex Systems Theory ◽  
Agile Project Management ◽  
First Results ◽  
Complex Project

Project Risk Management is crucial in determining the future performance of a complex project. Increasing project complexity makes it more and more difficult to anticipate potential events that could affect the project and to make effective decisions to reduce project risk exposure. To tackle these conceptual and managerial issues, the proposed approach introduces Complex Systems Theory-based improvements into some PRM subprocesses and runs the global PRM process using Agile Project Management principles. We argue that these advanced techniques for managing project risk complexity, notably risk interdependencies, are coherent with the distributed, self-organized nature of agile teams. This new way of structuring and executing Project Risk Management offers the possibility to make decisions more frequently, when needed, with a more distributed authority, and with richer information about anticipation of events and consequences of actions. First results show an appropriation of this combined approach by project members due to agile principles that allows for getting the more reliable information promised by Complex Systems Theory.

scholarly journals A New Maturity Model for Project Risk Management in the Automotive Industry

2018 ◽  
Vol 7 (3) ◽  
pp. 53-72 ◽  
Author(s):  
Jose Irizar ◽  
Martin George Wynn
Keyword(s):  
Risk Management ◽  
Automotive Industry ◽  
Project Managers ◽  
Project Risk Management ◽  
Maturity Model ◽  
Project Risk ◽  
Four Dimensions ◽  
Case Study Analysis ◽  
Management Capability ◽  
On Line

The purpose of this article is to present a new maturity model for the assessment and ongoing management of project risk management capability in the automotive industry. The research design is based on a multi-project case study analysis in a major German automotive company. The approach is qualitative and inductive, using 12 in-depth interviews with major stakeholders in the project management function in the company to provide data for the construction of the initial maturity model. This model is then verified and refined via an on-line survey and three follow-up interviews.The findings provide material for the construction of a new maturity model that can be used for the assessment of project risk management capability and as a tool for on-going monitoring and improvement. The model is structured around four dimensions of risk management – identification, assessment, allocation and appetite – and has four maturity stages – rudimentary, intermediate, standardised and corporate. The model is based on a detailed analysis of in-depth interview material in a specific industry sector. It can be used as a basis for similar research in other industries. The model adds to existing risk management maturity models and is unique in being specific to the automotive industry. It can be used by risk and project managers, and can also be adapted to other industry sectors.

A Project Risk Management Methodology Developed for an Electrical Portuguese Organization

2016 ◽  
pp. 845-864
Author(s):  
Joana Peixoto ◽  
Anabela Tereso ◽  
Gabriela Fernandes ◽  
Rui Almeida
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Action Research ◽  
Management Practices ◽  
Electric Energy ◽  
Project Risk Management ◽  
Process Standardization ◽  
Project Risk ◽  
Risk Management Methodology ◽  
Ongoing Project

This chapter resulted from an action-research undertaken on a Portuguese electric energy organization – EDP Distribution. The research aimed to develop, propose and implement a risk management methodology to integrate in the project management (PM) practices of an ongoing project. The methodology implemented allowed the project team to initiate systematized risk management practices through a simple structure, easy to apply, and with a degree of complexity compatible with the effort that the PM team could initially engage. It is expected that the proposed methodology signaled the initiation of the project risk management (PRM) process standardization in the EDP Distribution organization.

The Rational Choice of Not Applying Project Risk Management in Information Technology Projects

2009 ◽  
Vol 40 (3) ◽  
pp. 72-81 ◽  
Author(s):  
Elmar Kutsch ◽  
Mark Hall
Keyword(s):  
Information Technology ◽  
Risk Management ◽  
Project Management ◽  
Project Managers ◽  
Project Risk Management ◽  
Management Process ◽  
Information Technology Projects ◽  
Project Risk ◽  
Risk Management Process ◽  
Project Management Institute

The management of risk is considered a key discipline by the Project Management Institute and the Association for Project Management. However, knowledge of what needs to be done frequently fails to result in action consistent with that knowledge. The reasons for this seem to have received little attention. This study researched the degree of use of project risk management and barriers that prevent IT project managers from using risk management. Interviews and a survey were carried out. The results show that, in one-third of cases, because of the problem of cost justification, no formal project risk management process was applied.

scholarly journals Analysis of Maturity Level Project Management of Software Development In Scrum Framework: Case Research On Tribe Enterprise PT. XYZ

2020 ◽  
Vol 5 (1) ◽  
pp. 87-97
Author(s):  
Fakhrul Ridha ◽  
Ega Hegarini
Keyword(s):  
Project Management ◽  
Software Development ◽  
Quantitative Research ◽  
Development Project ◽  
Agile Development ◽  
Maturity Model ◽  
Maturity Level ◽  
Software Development Project ◽  
Case Research ◽  
A Company

One of the most widely used product developments now is Agile Development Method. In Agile Development there are several frameworks, one of them is Scrum. This research examines the maturity level of software development project management that applies Scrum framework. The research was conducted using quantitative research methodologies using Scrum Maturity Model. Data was collected by distributing questionnaires to employees at a company that works as a Scrum Master. In addition to the data obtained from the questionnaire, interviews were also conducted to confirm answers from respondents. The interview aims to ensure the answers given by respondents are consistent with documentary evidence carried out through the research of project documents. Then the data analysis is done by assessing the level of maturity of each process in the Scrum framework using Agile Maturity Model (AMM) approach. The results from the analysis of Maturity Level Project Management of Software Development are used to provide recommendations for improvement to achieve a higher level of maturity.

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