CONCEPT OF THE DEVELOPMENT OF AN IMPLICABLE TOOL FOR DECISION MAKING IN THE RISK MANAGEMENT PROCESS

2020 ◽  
Author(s):  
Artur Zygiert
Keyword(s):  
Decision Making ◽  
Risk Management ◽  
Management Process ◽  
Risk Management Process

scholarly journals Fundamental elements regarding the approach of risk management within the international projects with teams in the virtual environment

2021 ◽  
Vol 343 ◽  
pp. 07013
Author(s):  
Iulia Dumitraşcu-Băldău ◽  
Alexandru Căpăţînă ◽  
Dănuţ Dumitru Dumitraşcu
Keyword(s):  
Decision Making ◽  
Risk Management ◽  
Theoretical Model ◽  
High Risk ◽  
Virtual Environment ◽  
Project Success ◽  
Management Process ◽  
Risk Management Process ◽  
International Projects ◽  
Risk Management Methodology

International projects with teams in the virtual environment (IPTVE) are known as complex and high risk projects, these features being considered as significant obstacles to project success. Applying the appropriate risk management methodology could increase their success rate, becoming a fundamental tool for decision making. Research on IPTVE management risks is scarce, focused on specific sectors as software development or construction, without taking into account the differences between traditional and international projects. Thereby, risk management within IPTVE becomes a necessary approach for the performance in managing international projects. This article aims to improve the risk management process within IPTVE, by proposing a flexible theoretical model of the process.

scholarly journals Troubled Projects in Construction Due To Scant Risk Management

2018 ◽  
Vol 7 (3.12) ◽  
pp. 322
Author(s):  
Subramanyam B ◽  
Iswarya R
Keyword(s):  
Risk Assessment ◽  
Decision Making ◽  
Risk Management ◽  
Construction Project ◽  
Management Process ◽  
Risk Management Process ◽  
Project Cycle ◽  
Constructional Work ◽  
Robust Process ◽  
Existing Data

This paper will focus on troubled projects in construction due to inadequate and insufficient risk management. Inadequate risk management has the ability to severely impact construction project. The main objective of the present paper is to attempt a composition of already known risk management process, at such way that it can be applied by the modern enterprises that deal with the undertaking or/and implementation of constructional work. This paper describes about the main sources for the failure of a construction project such as no initial risk assessment, inadequate documentation and tracking, irregular & incomplete status reporting, failure to define parameters etc. The methodology contains examining existing data, results and created a checklist for all those who are involved in construction project disasters. It can be applied at all stages in the project cycle, from the earliest assessments of strategy to initiation, planning, implementation and closure. Risk management will also provide advantages in better accountability and justification of decisions, by providing a well-suited and robust process that supports decision-making. 

scholarly journals Information Systems Risk Management: Litterature Review

2019 ◽  
Vol 12 (3) ◽  
pp. 1
Author(s):  
Soumaya Amraoui ◽  
Mina Elmaallam ◽  
Hicham Bensaid ◽  
Abdelaziz Kriouile
Keyword(s):  
Decision Making ◽  
Information System ◽  
Risk Management ◽  
Literature Review ◽  
Optimal Allocation ◽  
Management Process ◽  
Business Risk ◽  
Risk Management Process ◽  
A Company ◽  
Comparative Analyse

The security of a company's information system (IS) is an important requirement for the pursuit of its business. Risk management contributes to the protection of the IS assets. It saves the organism from the losses caused by the emergence of unwanted events having an incidence on the IS objectives and consequently on its strategy. It has also an important role in the decision making about entering new opportunities. In addition, it promises an optimal allocation of information system resources. The risk management process aims to analyze what can happen and what are the eventual consequences for the organization before deciding what needs to be done and reducing the risks to an acceptable level. This paper presents a literature review of IS risk management and gives a comparative analyse of its processes, methods and standards.

Customisable framework for project risk management

2017 ◽  
Vol 17 (1) ◽  
pp. 68-89 ◽  
Author(s):  
Jennifer Firmenich
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
New Institutional Economics ◽  
Future Research ◽  
Project Risk Management ◽  
Management Process ◽  
Project Risk ◽  
Content Type ◽  
Risk Management Process ◽  
Management Concepts

Purpose The purpose of this paper is to emphasise on the need for efficient and effective project risk management practices and to support project managers in increasing the cost certainty of projects by proposing a new framework for project risk management. Design/methodology/approach The author adopts a “constructivist” methodology, drawing on practices common in construction management sciences and new institutional economics. Findings The author presents a holistic and customisable project risk management framework that is grounded in both practice and academia. The framework is holistic because, amongst others, all steps of the typical risk management process are addressed. The framework is customisable, because it allows for alternative ways of implementing the project risk management steps depending on the project-specific circumstances. Research limitations/implications The framework does not address the potential unwillingness of the project players to set up a project risk management process, at all. The proposed framework has not yet been tested empirically. Future research will seek to validate the framework. Originality/value The framework is designed to account for the difficult circumstances of a complex construction project. It is intended to support decision makers in customising a practical yet comprehensive project risk management concept to the characteristics of the unique project. Although many other project risk management concepts are designed based on the assumption that actors are perfectly rational and informed, this framework’s design is based on the opposite assumption. The framework is dynamic and should adapt over time.

Risk Management Process

2006 ◽  
pp. 18-40
Author(s):  
C. Ravindranath Pandian
Keyword(s):  
Risk Management ◽  
Management Process ◽  
Risk Management Process
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