Organizational and Methodological Influence of Risk Management in Projects


Project risk management is essential to managers’ decision making and business success, because it allows the manager to identify, analyse  and  decide  on the most appropriate way to respond to different adversities that may arise during the development of new products, services, processes, projects, continuous improvement, etc. This requires a mind-set that risks have a major influence on the bottom line and use analytical methods or risk management software. It is essential to integrate the entire organizational structure into risk mitigation intervention. The purpose of this paper is to address some of the important topics to consider for well implemented and successful risk management. An approach is taken at both organizational and methodological levels.

Keywords: Risk management, PMBOK, Stakeholders, Methods, New product development

[1] Gurjar, N. (2017). A Forward Looking Approach to Project Management. (Singapore: Springer), pp.199- 220.

[2] Munier, N. (2014). Principles and Elements of Risk Management – Data and Initial Conditions. (Switzerland: Springer), pp. 1–30.

[3] Kusar, J., Rihar. L, Zargui., U and Starbek. M. (2013). Extended risk-analysis model for activities of the project. Springer Plus, vol. 2, issue 227, pp.1–12.

[4] Khameneh, A., Taheri, A. and Ershadi, M. Offering a framework for evaluating the performance of project risk management system. Proceedings of 29th World Congress International Project Management Association (IPMA). (Panama: Westin Playa Bonita).

[5] Munier, N., Jiménez-Sáez, F., and Fernández-Diego, M. (2013). Project Risk Management. In Project Management for Environmental, Construction and Manufacturing Engineers. (USA: Springer), pp. 75– 90.

[6] Keramati, A. and Moshki, H. (2013). A novel methodology for evaluating the risk of CRM projects in fuzzy environment. Neural Comput. and Applic., vol. 23, issue 1, pp.29–53.

[7] Zhao, X., Hwang, B. H., and Sui Pheng, L. (2015). Enterprise Risk Management in International Construction Operations. (Singapore: Springer), pp. 33–83.

[8] Dandage, R. V., Mantha, S. S., Rane, S. B. and Bhoola, V. (2017). Analysis of interactions among barriers in project risk management. Journal of Industrial Engineering International, vol. 14, issue 1, pp. 153-159.

[9] Project Management Institute (2013). A Guide to the Project Management Body of Knowledge (Berlin: Springer) pp. 269–286.

[10] Becker, J., Kozyrev, O., Babkin, E., et al (2016). Software Risk Management: Using the Automated Tools. In Emerging Trends in Information Systems. (Switzerland: Springer, pp. 85–97.

[11] Park, S., Kim, J. and Choi, H.G. (2011). A Risk Management System Framework for New Product Development (NPD). Proceedings of International Conference on Economics and Finance Research, Singapore.

[12] Ergel, N.D. and Livvarçin, Ö. (213). Chaos, Complexity and Leadership. (Turkey: Springer), pp. 403–407.

[13] Caron, F. (2013). Managing the Continuum: Certainty, Uncertainty, Unpredictability in Large Engineering Projects. Springer Italy, pp. 34–36.

[14] Kutsch, E., Denyer, D., Hall, M. and Lee-Kelley, E. (2012). Does risk matter? Disengagement from risk management practices in information systems projects. European Journal of Information Systems, vol. 22, issue 6, pp. 637–649.

[15] Salewski, W., Rosenstiel, L. Von and Zook, R. (2015). Applied Psychology for Project Managers. (Berlin: Springe), pp. 269–286.

[16] Boehm, B. Software Project Management in a Changing World. (Berlin: Springer), pp. 107–121.

[17] Klakegg, O. J. (2016). Project Risk Management: Challenge Established Practice. Administrative Sciences, vol. 6, issue 4, pp.6–8.