project risk management Articles

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
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
Project's duration prediction: traditional tools or simulation?

Project schedule development with CPM cannot handle uncertainty, thus PERT and Monte Carlo Simulation (MCS) are the most frequently used methods from best-in-class companies. This study compares the results of the standard MCS with those of PERT and addresses the incorporation of project risk management into the two approaches. It defines the related advantages and disadvantages, found in the ...

Jun. 14, 2007

By Inderscience Publishers
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
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
Estimating the cost of new technology products

Unfortunately, major projects employing new technologies are extremely prone to cost and timescale overruns. It is believed that this is due to two main reasons. The first is the difficulty in preparing accurate estimates. The second is that the long development cycles allow time for market conditions and customer needs to change, and these changes inevitably add to the cost. This paper presents ...

Feb. 11, 2004

By Inderscience Publishers
The evolution and process of risk management at the European space agency ESA

The paper gives an overview of risk management at the European Space Agency, ESA. It illustrates the history of and the current approach to the management of space project risks. The evolution of risk management methods and tools is summarised and some of their features are highlighted. The spectrum of risks on a project and the process of risk management are explained. The basic steps of the ...

Feb. 10, 2004

By Inderscience Publishers
Product life cycle management in engineer-to-order industries

This paper analyses the characteristics of Engineer-To-Order (ETO) companies, their markets, products, internal processes and supply chains. ETO companies design, manufacture and construct plant that is highly customised. The products are complex and supplied in low volume to global markets. Privatisation and deregulation have changed the competitive criteria and the products and services ...

May 5, 2009

By Inderscience Publishers
PROJECT RISK SURVEY

Project risk investigation services include transactional project risk survey, long-term project risk survey, firm risk and market risk in project management. 1. Transactional project risk survey refers to the operation of a major project being conducted by the investigator's intermediaries, helping the company to guard against any risks that the project may confront, and identifying and ...

Sep. 21, 2019

By China Red Star Limited
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
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
PROJECT RISK SURVEY

Firm risk and market risk in project management services include transactional project risk survey and long-term project risk survey. 1. Transactional project risk survey refers to the operation of a major project being conducted by the investigator's intermediaries, identifying and managing risk in a project that the project may confront. If a company is working on a cooperative development ...

Nov. 9, 2019

By China Red Star Limited
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
Development of a risk identification expert system for the international space station project

The monitoring and reporting of program performance variables provide critical input to the function of project risk identification. Conventionally, a series of simple metrics have been used to track cost and schedule status. Personal judgement, intuition, and experience are then applied by project managers and analysts in order to interpret the metrics. Larger and more complicated projects ...

Feb. 10, 2004

By Inderscience Publishers
Risk based decision support system for effective implementation of projects

Conventional project management techniques are not always sufficient to ensure time, cost and quality achievement of large-scale construction projects due to complexity in planning, design and implementation processes. The main reasons for project non-achievement are changes in scope and design, changes in government policies and regulations, unforeseen inflation, underestimation and improper ...

Feb. 3, 2004

By Inderscience Publishers
Risk analysis of urban network planning in China

With the development of the urban social economy in China, the uncertain factors faced by urban network planners and their complexity are continuously increasing. In order to promote the scientific nature of urban network planning in China, the risks of urban network planning need to be identified and analysed systemically. Questionnaires about the risks of urban network planning in China were ...

Sep. 27, 2011

By Inderscience Publishers
Parkes Shire Council $12M Lake Endeavour Dam Security and Safety Upgrade

Procurement Management, Risk Management, Lean Project Management, Environmental Management November 2013 to February 2016. Procurement Support. Full-time (7 days per week) on-site project / principal contractor surveillance. Responsible for development and governance of Site Safety, Construction Management, and Quality Management plans. Development of Early Warning System ...

Aug. 17, 2019

By Uminex
Identification of risk factors that have significantly different degrees of impact on the introduction of IS, a project with virtual teams than traditional project teams: a Serbian perspective

Although the introduction of information systems projects is increasingly involving virtual project team members, most of the research are about the risks on projects implemented in projects who use a traditional project teams and which include face-to-face communication. The aim of this study is to identify the set of risk factors which would influence introduction of information systems ...

Dec. 23, 2013

By Inderscience Publishers
Incorporating uncertainty in optimal investment decisions

Investment decisions are now more crucial than ever. The investors are in need of sound arguments, which will be able to shape the investment specifications and appraise their uncertain nature. This paper proposes an innovative approach that merges optimisation and risk analysis in one single method. The two-step investment appraisal approach reaches an optimum through a Genetic Algorithm ...

Jun. 14, 2007

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

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