Project Risk Management Articles

Risk management in information technology projects

There are several studies on managing risks in information technology (IT) projects. Most of the studies identify and prioritise risks through empirical research in order to suggest mitigating measures. Although they are important to clients for future projects, these studies fail to provide any framework for risk management from IT developers' perspective. Although a few studies introduced a ...

Jul. 30, 2008

By Inderscience Publishers

Dynamic analysis of project risk

This paper first proposes an approach to risk dynamics analysis during the project's early phase in order to improve the identification and implementation of suitable response actions. Secondly, an approach is proposed to monitor and control the global project risk during the entire project life-cycle by defining a project risk baseline. Both approaches have been applied to a very ambitious ...

Nov. 3, 2008

By Inderscience Publishers

Risk Analysis for SSO Projects

ABSTRACT In 1999 the City of Atlanta negotiated a comprehensive settlement titled the First Amended Consent Decree (FACD) with the United States Environmental Protection Agency (EPA) and Georgia Environmental Protection Division (EPD) to address its sanitary sewer system to prevent future Sanitary Sewer Overflows (SSOs). The Clean Water Atlanta Program Management Team (PMT) has ...

Oct. 13, 2007

By Water Environment Federation (WEF)

Risk management in build-operate-transfer projects

Construction projects are risky. A build-operate-transfer (BOT) project is recognised as one of the most risky project schemes. This scheme has been employed rather frequently in the past few decades, in both developed and developing countries. However, because of its risky nature, there have been failures as well as successes. Risk analysis in an appropriate way is desirable in implementing BOT ...

Feb. 3, 2004

By Inderscience Publishers

Systemic project risk management - the way ahead

Project Risk Management (PRM) has become recognised as an important part of project planning and management. This paper briefly outlines the current state of PRM in design and development projects The development of PRM tools based upon project decompositions has brought significant benefits. For modern highly complex projects, however, this has proved to have significant flaws, particularly ...

Feb. 10, 2004

By Inderscience Publishers

Managing EH&S software project risks

Organizations today increasingly face environment, health, and safety (EH&S) challenges. To help meet these challenges, many enterprises are seeking software solutions that will help them remain competitive and avoid using additional staff resources. But what should organizations know before taking on significant in-house information technology (IT) projects? Read on to learn a few ways to ...

Dec. 1, 2006

By Lexicon Systems, LLC

Foundations of integrated risk management

This paper concentrates on broadening the concept of risk management beyond the considerations of cost, schedule and performance. The author uses his experience with NASA to provide both a foundation for an integrated risk management plan and a tentative plan. The plan integrates risk across both the temporal and the hierarchical dimensions.Keywords: integrated risk management, project ...

Sep. 16, 2009

By Inderscience Publishers

Risk management versus incentives

Portfolio theory indicates that risk management should take place at the group level. Hedging at the project level or in the individual business areas may lead to suboptimal results. However, the efficiency of a profit centre depends on its management's being able to influence factors that are crucial to the unit's financial results. Price hedging could be one such factor. In the wider ...

May 9, 2006

By Inderscience Publishers

Risk management in a scientific research nuclear installation decommissioning project

With the development of nuclear technology and engineering, more and more scientific research nuclear installations have already or will enter the phase of decommissioning. Based on the risk management of a nuclear installation decommissioning project, this paper analyses the risk factors and their effects, then puts forward relative measures and suggestions.Keywords: nuclear decommissioning, ...

Mar. 17, 2008

By Inderscience Publishers

A risk mitigation approach for concurrent engineering projects

Generally, risks are encountered and generate negative outcomes in concurrent engineering (CE) projects including project delays, cost overruns and unacceptable quality. These outcomes can be avoided by establishing a systematic risk management process. In this research, a risk management approach used is outlined, according to Australia and New Zealand risk management standard (AS/NZS 4360: ...

Jul. 8, 2008

By Inderscience Publishers

A desirable future for technology risk management

This paper outlines a scenario for the future of Technology Risk Management which the author suggests is internally consistent, linked to current practice, achievable, and desirable. It is a personal view which reflects the concerns and goals of the author. It is offered as a basis for discussion with others of the goals we might seek jointly to facilitate effective progress.Keywords: risk ...

Feb. 10, 2004

By Inderscience Publishers

Risk-based asset integrity management

Within the area of management of process plant integrity, there has been a significant shift toward the adoption of risk-focused methods such as reliability centered maintenance (RCM) and risk based inspection (RBI), rather than following traditional preventative maintenance methods and prescriptive inspection intervals. There are various reasons for this trend, but the primary benefit that asset ...

Sep. 11, 2007

By ABS Consulting

Decision-making and risk management in a globalised knowledge economy

This paper presents an exposition of the role of knowledge, empiricism within the domain of knowledge, and the role of judgment in decision-making and risk management. The concept of risk management is explained with an example of programme management for infrastructure project delivery. Drawing upon the lessons from economics, cognitive neuroscience, the history of management, and education, ...

Aug. 22, 2011

By Inderscience Publishers

Effective risk management: a goal based approach

The United States Department of Defense (DoD) and National Aeronautics and Space Administration (NASA) have implemented ambitious risk management programmes on top research and development projects. Typically, risk is expressed strictly in terms of cost, schedule or technical performance. This approach can result in the obscuration of other important project objectives. Further, methods for ...

Feb. 11, 2004

By Inderscience Publishers

Energy and carbon management are cornerstone to risk mitigation strategies

The landscape for national compliance reporting thresholds for facilities was about to dramatically increase in scale and the company did not have the resources and systems to measure, manage and report the required data in a timely and accurate manner. This organization with vast resources deployed across much of Western Canada was suddenly exposed to an alarming degree of financial risk for ...

Aug. 29, 2009

Managing and Mitigating Environmental Risks at Medupi - Case Study

The 4800 MW coal-fired Medupi power station in the Lephalale area of Limpopo Province is one of the largest construction projects in South Africa’s history. During the six-year construction period, there will be 38 main contractors and 100-300 sub-contractors on site at any given time, employing up to 12,000 people at the peak of construction. NCC was appointed at the beginning of the ...

Jun. 4, 2014

By NCC Environmental Services (Pty) Ltd

Management and risk assessment of a chemical spill: engineering facility

Project: Management and Risk Assessment of a Cleaning Effluent Spill Client: Confidential Services: Spill response, environmental sampling, risk assessment, regulator liaison Summary: Proportionate risk assessment and pollution management to safeguard local surface waters and satisfy regulator requirements ...

Oct. 7, 2011

By ESI Consulting Ltd

Risk management on energy and environmental conservation in CEE countries

The report has been prepared on the basis of seven independent provided research projects, realised by experts from all countries of CEE. The seven research projects are: 1) Development of risk analyses on energy and environmental conservation; 2) Strategic forecast on energy and environment conservation; 3) Main risk sources identification on energy conservation policy; 4) Risk valuation methods ...

Dec. 7, 2010

By Inderscience Publishers

The Energy CFO’s Guide to Robust Risk Management

Energy Chief Financial Officers (CFOs) should design and develop standardized decision-making frameworks to maintain a consistent approach to managing risk, says Brent Ridge, Chief Financial and Risk Officer, Energy Northwest. “The most important risk management strategy is driving judgments down the organization and not driving decisions up,” he goes on to say. A speaker at the ...

Jan. 24, 2013

By Marcus Evans

Managing environmental risk and compliance: facility decommissioning

While most companies are familiar with the regulatory requirements that must be managed when opening or operating a commercial or industrial facility; the regulatory requirements which need to be met when closing a facility are less commonly known. To reduce operating costs in a challenging economic environment, organizations may need to downsize, relocate, or close facilities. There are ...

May 4, 2010

By WSP | Parsons Brinckerhoff

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