COORDINATES OF A RISK MANAGEMENT PROJECT

OpenAIRE

ALEXANDRU OLTEANU; MĂDĂLINA ANTOANETA RĂDOI

2013-01-01

High risk – high benefit: a well-known correlation both in the economic field and in the day-to-day life. Another correlation, on which this article is based: large project – numerous participants – increased risks and other malfunctions. The risk management concept is challenged by those projects and is forced to find the most adequate “customized” ways for each project at its turn. In this respect, the assessment of management has followed the trend of the last three decades, marked by movi...

On Best Practices for Risk Management in Complex Projects

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Dan BENTA

2011-01-01

Full Text Available Risk management shall be proactive. This is one of the key preliminaries to cope with the challenges of complex projects. An overarching and consistent view on project risks and uncertainties is necessary to follow a holistic approach in project risk management. Uncertainty is inevitable since projects are unique and temporary undertakings based on assumptions and constraints, delivering project results to multiple stakeholders with different requirements. Project management can be seen as an attempt to control this uncertain environment, through the use of structured and disciplined techniques such as estimating, planning, cost control, task allocation, earned value analysis, monitoring, and review meetings. Each of these elements of project management has a role in defining or controlling inherent variability in projects. Project risk management provides approaches by which uncertainty can be understood, assessed, and managed within projects. A number of associations (e.g., Project Management Institute – PMI®, International Project Management Association – IPMA,or Network of Nordic Project Management Associations - NORDNET work constantly in acquiring, improving, and standardizing best practices in project management.Based on the industrial practice, this paper outlines strategies to identify, prioritize, and mitigate risks for achievement of project’ or organizational objectives.

The study of the risk management model of construction project

International Nuclear Information System (INIS)

Jiang Bo; Feng Yanping; Liu Changbin

2010-01-01

The paper first analyzed the development of the risk management of construction project and the risk management processes, and then briefly introduced the risk management experience of foreign project management. From the project management by objectives point of view, the greatest risk came from the lack of clarity of the objectives in the project management, which led to the project's risk emergence. In the analysis of the principles of the project objectives identification and risk allocation, the paper set up a project management model which insurance companies involved in the whole process of the project management, and simply analyzed the roles of insurance company at last. (authors)

Risk Management for New Product Development Projects in Food Industry

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Porananond, D.

2014-07-01

Full Text Available Project risk management provides a guideline for decision making in new product development (NPD projects, reducing uncertainty and increasing success rate. However, the acceptance of formal risk management applications in industry, especially for NPD projects is still in question. A study of a food conglomerate in Thailand found that only 9% of NPD projects used a systematic approach for managing risk. 61% of the projects realised the importance of risk management, while the remaining 30% did not involve risk management at all. This study aims to develop a risk management model for NPD projects in the food industry. The first section of this paper reviews the literature on risk management theory, including international standards for risk and project management (ISO31000 and ISO21500, publications for the Project Management Body of Knowledge (PMBOK, by a professional organisation the Project Management Institute (PMI, and also academic research. 182 academic papers, published between January 2002 and August 2012 were selected. The second part interviews conducted with eight NPD experts from five of the major food manufacturers in Thailand to examine their risk management practices and problems. Conclusions are made on five topics : classification of research method, project type and industrial segment, distribution of articles by region, tools & techniques for risk management and risk factors in projects. Specific requirements of risk management for NPD projects in the food industry are identified. A risk management model and the concept of risk management applications for the food industry are proposed.

Development of funding project risk management tools.

Science.gov (United States)

2013-11-01

Funding project risk management is a process for identifying, assessing, and prioritizing project funding risks. To plan to : minimize or eliminate the impact of negative events, one must identify what projects have higher risk to respond to potentia...

Managing complex, high risk projects a guide to basic and advanced project management

CERN Document Server

Marle, Franck

2016-01-01

Maximizing reader insights into project management and handling complexity-driven risks, this book explores propagation effects, non-linear consequences, loops, and the emergence of positive properties that may occur over the course of a project. This book presents an introduction to project management and analysis of traditional project management approaches and their limits regarding complexity. It also includes overviews of recent research works about project complexity modelling and management as well as project complexity-driven issues. Moreover, the authors propose their own new approaches, new methodologies and new tools which may be used by project managers and/or researchers and/or students in the management of their projects. These new elements include project complexity definitions and frameworks, multi-criteria approaches for project complexity measurement, advanced methodologies for project management (propagation studies to anticipate potential behaviour of the project, and clustering approaches...

Adoption of Building Information Modelling in project planning risk management

Science.gov (United States)

Mering, M. M.; Aminudin, E.; Chai, C. S.; Zakaria, R.; Tan, C. S.; Lee, Y. Y.; Redzuan, A. A.

2017-11-01

An efficient and effective risk management required a systematic and proper methodology besides knowledge and experience. However, if the risk management is not discussed from the starting of the project, this duty is notably complicated and no longer efficient. This paper presents the adoption of Building Information Modelling (BIM) in project planning risk management. The objectives is to identify the traditional risk management practices and its function, besides, determine the best function of BIM in risk management and investigating the efficiency of adopting BIM-based risk management during the project planning phase. In order to obtain data, a quantitative approach is adopted in this research. Based on data analysis, the lack of compliance with project requirements and failure to recognise risk and develop responses to opportunity are the risks occurred when traditional risk management is implemented. When using BIM in project planning, it works as the tracking of cost control and cash flow give impact on the project cycle to be completed on time. 5D cost estimation or cash flow modeling benefit risk management in planning, controlling and managing budget and cost reasonably. There were two factors that mostly benefit a BIM-based technology which were formwork plan with integrated fall plan and design for safety model check. By adopting risk management, potential risks linked with a project and acknowledging to those risks can be identified to reduce them to an acceptable extent. This means recognizing potential risks and avoiding threat by reducing their negative effects. The BIM-based risk management can enhance the planning process of construction projects. It benefits the construction players in various aspects. It is important to know the application of BIM-based risk management as it can be a lesson learnt to others to implement BIM and increase the quality of the project.

Tank Waste Remediation System Characterization Project Programmatic Risk Management Plan

International Nuclear Information System (INIS)

Baide, D.G.; Webster, T.L.

1995-12-01

The TWRS Characterization Project has developed a process and plan in order to identify, manage and control the risks associated with tank waste characterization activities. The result of implementing this process is a defined list of programmatic risks (i.e. a risk management list) that are used by the Project as management tool. This concept of risk management process is a commonly used systems engineering approach which is being applied to all TWRS program and project elements. The Characterization Project risk management plan and list are subset of the overall TWRS risk management plan and list

RISK MANAGEMENT USING PROJECT RECON

Science.gov (United States)

2016-11-28

centralized database . • Project Recon (formerly Risk Recon) is designed to be used by all Program Management Offices, Integrated Project Teams and any...Create growth plans to proactively capture benefits • Customize reports to group opportunities by programmatic, technical, business, contracting, and

WAYS TO IMPROVE RISK MANAGEMENT IN COMPLEX PROJECTS

Directory of Open Access Journals (Sweden)

Emilia IORDACHE

2012-01-01

Full Text Available Risk is present in all human activities; it can be associated with health, security, economy or environment. The goal of risk management is to control, prevent or decrease potential damages. Technically speaking, risk management means all the activities coordinated so as to orient and monitor an organization from the risk perspective. Risk management helps formulate the most adequate decisions by taking account of uncertainties and their effects upon the accomplishment of proposed goals, and argues the need to lay down and implement coercive, preventive actions typical of the management of a company. The benefits of good risk management and also the consequences of bad management shall undoubtedly be felt by an organization’s board, employees, shareholders, customers as well as by all other entities concerned with organizational performance. Projects generally include a number of risks in common with those in business as well as certain typical ones. In complex projects, it is this very feature – complexity – which generates the need to implement risk management for the purpose to diminish, remove, and monitor the risks which can influence the development of a project.

Risk management for independent power projects

International Nuclear Information System (INIS)

Owen, J.L.

1993-01-01

Independent Power, where electric utilities or other bulk electric power users contract with individual electric power generation facilities to meet their projected long term power needs, has grown dramatically over the past ten years or more. This concept, to contract with Independent Power Producers (IPP), is not a new concept and in fact goes back to the early formation of the electric power industry in this country and worldwide. Successful Risk Management is the foundation for ultimate project completion and operation in fulfilling the expectations of all parties. The primary risks associated with the development of Independent Power projects include: predicting long term fuel availability and cost; predicting long term price for the deliverable of electricity; site selection, site characteristics and permitting; innovative or evolving technology; project execution (design and construction), and; lifetime O ampersand M costs and plant reliability. This paper focuses on the risks inherent in the development of IPPs and addresses the management of these risks

Risk Management on the National Compact Stellarator Project (NCSX)

International Nuclear Information System (INIS)

Simmons, Robert T.; Heitzenroeder, Philip J.; Reiersen, Wayne T.; Neilson, George H.; Strykowsky, Ronald L.; Rej, Donald; Gruber, Christopher O.

2009-01-01

In its simplest form, risk management is a continuous assessment from project start to completion that identifies what can impact your project (i.e., what the risks are)., which of these risks are important, and identification and implementation of strategies to deal with these risks (both threats and opportunities). The National Compact Stellerator Experiment (NCSX) Project was a 'first-of-a-kind' fusion experiment that was technically very challenging, primarily resulting from the complex component geometries and tight tolerances. Initial risk quantification approaches proved inadequate and contributed to the escalation of costs as the design evolved and construction started. After the Project was well into construction, a new risk management plan was adopted. This plan was based on successful Department of Energy (DOE) and industrial risk management precepts. This paper will address the importance of effective risk management processes and lessons learned. It is of note that a steady reduction of risk was observed in the last six months of the project

Review of the project risk management plan in the capital projects organization at ConocoPhillips

OpenAIRE

Meidell, Camilla

2011-01-01

Master's thesis in Risk management Project Risk Management (PRM) has in recent years become an important aspect of business organization and project management. There has always been a requirement for some risk management at COPNO. However about 3 years ago the process became much more defined and has become a requirement for the contingency used on projects to be based upon the risking process. Since risk management in projects is a requirement in the CP organization it is ...

Comparisons on International Approaches of Business and Project Risk Management

OpenAIRE

Nadia Carmen ENE

2005-01-01

In this article we intend to present a comparative approach between three recognized international methodologies for risk management: RISKMAN, Project Management Institute Methodology-PMBoK and Project Risk Analysis and Management Guide (produced by Association for Project Management).

PECULIARITIES OF ASSESSMENT AND RISK MANAGEMENT IN INNOVATIVE PROJECTS

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Victor V. Guzhov

2014-01-01

Full Text Available The methodological and methodicalbases of risk management in innovativeprojects. Classification of risks. Types of risks depending on the stage of realizationof the innovative project. Investigated thefactors contributing to the emergence ofrisk situations. The basic techniques of risk management of innovation projects.Proposed criteria for the choice of the innovative project to implement in the realsector of the economy.

Risk Management and Uncertainty in Large Complex Public Projects

DEFF Research Database (Denmark)

Neerup Themsen, Tim; Harty, Chris; Tryggestad, Kjell

Governmental actors worldwide are promoting risk management as a rational approach to man-age uncertainty and improve the abilities to deliver large complex projects according to budget, time plans, and pre-set project specifications: But what do we know about the effects of risk management...... on the abilities to meet such objectives? Using Callon’s (1998) twin notions of framing and overflowing we examine the implementation of risk management within the Dan-ish public sector and the effects this generated for the management of two large complex pro-jects. We show how the rational framing of risk...... management have generated unexpected costly outcomes such as: the undermining of the longer-term value and societal relevance of the built asset, the negligence of the wider range of uncertainties emerging during project processes, and constraining forms of knowledge. We also show how expert accountants play...

Risk Management in Construction Project: Taking Fairness into Account

Science.gov (United States)

Górecki, Jarosław; Bizon-Górecka, Jadwiga

2017-10-01

Risk management requires a comprehensive review of possible hazards, their possible outcomes as well as some recommendations about minimizing the risk. The study emphasises that the project risk management refers to an analysis of the risk factors and a creation of the strategy minimising negative effects of the risk. It was pointed out that a construction project is this kind of projects that can be defined as a unique process of high complexity (design documentation, various stages of creating the building), which has clearly defined time frames and a given financial limit. It is executed as a team work, by qualified or highly qualified specialists of different matters, for example masonry, precast, etc. Additionally, it requires a use of modern equipment and an adequate preparation of the investment. Therefore, the risk management focuses on the problems allowing for troubleshooting. A basis of the risk management is to recognise the fundamentals, which are crucial for the construction project management, i.e. an object perspective, including technological, supporting and management processes as well as an entity perspective - project stakeholders. Construction projects require also an acquaintance with the specificity of the branch. The article refers to the risk management in construction project and, in particular, a phenomenon of participants’ fairness in such projects. The problem of fairness of the entities involved in a project should be understood as a fair play, according to the arrangements agreed in a contract and compatible with current formal procedures and social rules. It was indicated that fairness can be treated as an important factor in predicting the success of such projects. Interviews conducted among contractors in Kuyavian-Pomeranian region showed varied fairness requirements put to individual participants of construction projects. The article presents results of the research. It shows a desired attitude of the surveyed enterprises

A Framework for Integrating Knowledge Management with Risk Management for Information Technology Projects (RiskManiT)

Science.gov (United States)

Karadsheh, Louay A.

2010-01-01

This research focused on the challenges experienced when executing risk management activities for information technology projects. The lack of adequate knowledge management support of risk management activities has caused many project failures in the past. The research objective was to propose a conceptual framework of the Knowledge-Based Risk…

Project risk management in the construction of high-rise buildings

Science.gov (United States)

Titarenko, Boris; Hasnaoui, Amir; Titarenko, Roman; Buzuk, Liliya

2018-03-01

This paper shows the project risk management methods, which allow to better identify risks in the construction of high-rise buildings and to manage them throughout the life cycle of the project. One of the project risk management processes is a quantitative analysis of risks. The quantitative analysis usually includes the assessment of the potential impact of project risks and their probabilities. This paper shows the most popular methods of risk probability assessment and tries to indicate the advantages of the robust approach over the traditional methods. Within the framework of the project risk management model a robust approach of P. Huber is applied and expanded for the tasks of regression analysis of project data. The suggested algorithms used to assess the parameters in statistical models allow to obtain reliable estimates. A review of the theoretical problems of the development of robust models built on the methodology of the minimax estimates was done and the algorithm for the situation of asymmetric "contamination" was developed.

Managing risks in the project pipeline.

Science.gov (United States)

2013-08-01

This research focuses on how to manage the risks of project costs and revenue uncertainties over the long-term, and identifies significant : process improvements to ensure projects are delivered on time and as intended, thus maximizing the miles pave...

Managing project risks and uncertainties

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Mike Mentis

2015-01-01

Full Text Available This article considers threats to a project slipping on budget, schedule and fit-for-purpose. Threat is used here as the collective for risks (quantifiable bad things that can happen and uncertainties (poorly or not quantifiable bad possible events. Based on experience with projects in developing countries this review considers that (a project slippage is due to uncertainties rather than risks, (b while eventuation of some bad things is beyond control, managed execution and oversight are still the primary means to keeping within budget, on time and fit-for-purpose, (c improving project delivery is less about bigger and more complex and more about coordinated focus, effectiveness and developing thought-out heuristics, and (d projects take longer and cost more partly because threat identification is inaccurate, the scope of identified threats is too narrow, and the threat assessment product is not integrated into overall project decision-making and execution. Almost by definition, what is poorly known is likely to cause problems. Yet it is not just the unquantifiability and intangibility of uncertainties causing project slippage, but that they are insufficiently taken into account in project planning and execution that cause budget and time overruns. Improving project performance requires purpose-driven and managed deployment of scarce seasoned professionals. This can be aided with independent oversight by deeply experienced panelists who contribute technical insights and can potentially show that diligence is seen to be done.

Managing Risks in Distributed Software Projects: An Integrative Framework

DEFF Research Database (Denmark)

Persson, John Stouby; Mathiassen, Lars; Boeg, Jesper

2009-01-01

techniques into an integrative framework for managing risks in distributed contexts. Subsequent implementation of a Web-based tool helped us refine the framework based on empirical evaluation of its practical usefulness.We conclude by discussing implications for both research and practice.......Software projects are increasingly geographically distributed with limited face-to-face interaction between participants. These projects face particular challenges that need carefulmanagerial attention. While risk management has been adopted with success to address other challenges within software...... development, there are currently no frameworks available for managing risks related to geographical distribution. On this background, we systematically review the literature on geographically distributed software projects. Based on the review, we synthesize what we know about risks and risk resolution...

ePORT, NASA's Computer Database Program for System Safety Risk Management Oversight (Electronic Project Online Risk Tool)

Science.gov (United States)

Johnson, Paul W.

2008-01-01

ePORT (electronic Project Online Risk Tool) provides a systematic approach to using an electronic database program to manage a program/project risk management processes. This presentation will briefly cover the standard risk management procedures, then thoroughly cover NASA's Risk Management tool called ePORT. This electronic Project Online Risk Tool (ePORT) is a web-based risk management program that provides a common framework to capture and manage risks, independent of a programs/projects size and budget. It is used to thoroughly cover the risk management paradigm providing standardized evaluation criterion for common management reporting, ePORT improves Product Line, Center and Corporate Management insight, simplifies program/project manager reporting, and maintains an archive of data for historical reference.

Research on Risk Manage of Power Construction Project Based on Bayesian Network

Science.gov (United States)

Jia, Zhengyuan; Fan, Zhou; Li, Yong

With China's changing economic structure and increasingly fierce competition in the market, the uncertainty and risk factors in the projects of electric power construction are increasingly complex, the projects will face huge risks or even fail if we don't consider or ignore these risk factors. Therefore, risk management in the projects of electric power construction plays an important role. The paper emphatically elaborated the influence of cost risk in electric power projects through study overall risk management and the behavior of individual in risk management, and introduced the Bayesian network to the project risk management. The paper obtained the order of key factors according to both scene analysis and causal analysis for effective risk management.

Correlational Study of Risk Management and Information Technology Project Success

Science.gov (United States)

Gillespie, Seth J.

2014-01-01

Many IT projects fail despite the best efforts to keep these projects within budget, schedule, and scope. Few studies have looked at the effect of project risk management tools and techniques on project success. The primary focus of this study was to examine the extent to which utilization of project risk management processes influence project…

The Role and the Effects of Risk Management in IT Projects Success

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Otniel DIDRAGA

2013-01-01

Full Text Available The success of IT projects is influenced by risk and risk management according to the existing project management literature. The paper emphasizes the role of risk management and its contribution to projects success in the existing literature. The methodology applied is based on documentary study review and analysis of the concepts used by the literature. We analyzed the literature published between 1978 and 2012 from the main IT project management journals and publications. The results are that risk management is a very important component of the project management process and it is assumed implicitly to work in favour of project success. We also performed a quantitative analysis of how risk management processes affect the subjective and objective performance of IT projects in Romanian IT companies.

Climate Change Risk Management: CRE Adaptation Projects and the Risk Management Process

Science.gov (United States)

This document describes National Estuary Program partner projects that demonstrate how risk management can be successfully applied to address environmental challenges in our country’s coastal areas.

Project risk management in complex petrochemical system

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Kirin Snežana

2012-01-01

Full Text Available Investigation of risk in complex industrial systems, as well as evaluation of main factors influencing decision making and implementation process using large petrochemical company as an example, has proved the importance of successful project risk management. This is even more emphasized when analyzing systems with complex structure, i.e. with several organizational units. It has been shown that successful risk management requires modern methods, based on adequate application of statistical analysis methods.

The Strategic Risk Management at Different Stages of Innovation Project

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Pysmak Viktoriia O.

2017-03-01

Full Text Available This article considers the theoretical principles of the strategic risk management at every stage of innovation project. Relevance of the selected area of research has been substantiated in view of the necessity to provide the theoretical and practical foundations for the strategic risk management of innovation activity. Principles of management of innovation at a contemporary enterprise have been allocated. Analysis of such concepts as «risk», «innovation», «strategic management» was carried out. The concept of «innovation project» has been considered, its features and characteristics have been allocated. The basic tools of the strategic management of enterprise in current conditions have been described. The basic principles of the strategic risk management of innovation activity have been formulated. A scheme with allocating the stages of innovation activity and the risks involved has been elaborated, taking into consideration the factors of occurrence of risks. The main groups of management strategies have been allocated. The tasks facing the managerial board in the process of the strategic risk management at every stage of the innovation project have been formulated.

Risk Management Improvement of Engineering Projects in Woodworking Industry

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Simona Bartkutė

2014-02-01

Full Text Available Risk is a complex phenomenon that has physical, monetary, cultural and social dimensions. Every company wants tosave money, time, increase quality, optimise manufacturing, but each factor may involve different risks with different influenceto company, its reputation. The aim of the research is to find better risk management improvement decisions, using techniquesthat could help to reduce risk impact in wood-based nonstandard production with shorter project time, smoother design process,lower costs, better project coordination, increased ability to manage problems, technical solutions.

Effective Project Risk management in Micro Companies : Case study for Persona Optima Iceland ehf.

OpenAIRE

Bražinskaitė, Justina

2011-01-01

This study is meant to be a guide for micro companies regarding effective project risk management. The main purpose of this thesis is to introduce project risk management and build a user-friendly managerial model toward effective project risk management in micro companies. The research is based on a case company Persona Optima Iceland ehf. analysis. The study investigates risk management, uncertainties and risks in projects, project risk management, its models and particularities in orde...

The use of intelligent systems for risk management in software projects

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Oksana A. Gushchina

2017-06-01

Full Text Available Introduction: The article identifies the main risks of a software project, examines the use of different types of intelligent systems in the risk management process for software projects, discusses the basic methods used for process estimation and forecasting in the field of software engineering, identifies currently used empty expert systems, software systems for analysis and risk management of software projects. Materials and Methods: The author describes the peculiarities of risk management in the field of software engineering with involvement of intelligent systems. The intelligent techniques allow solving the control task with expert precision without the involvement of human experts. Results: The result of this work: – identification of the key risks of a software project (tax, legal, financial and commercial risks, IT risks, personnel risks, risks related to competitors, suppliers, marketing and demand and market; – investigation of the current, applied to risk management of software system projects, artificial intelligence, particularly expert systems and software tools for evaluation of the process results; – identification of the most popular empty expert systems (Clips, G2 and Leonardo and software products of the analysis of large databases (Orange, Weka, Rattle GUI, Apache Mahout, SCaViS, RapidMiner, Databionic ESOM Tools, ELKI, KNIME, Pandas and UIMA; – consideration of the cluster, correlation, regression, factor and dispersion analysis methods for the estimation and prediction of the processes of software engineering. Discussion and Conclusions: The results show the feasibility of the application of various intelligent systems in the risk management process. The analysis of methods of evaluating risks and the tendency of their application in the modern systems of intellectual analysis can serve as a start point for creating a unified system of risk management for software projects of medium and high complexity with a

Tools and Methods for Risk Management in Multi-Site Engineering Projects

Science.gov (United States)

Zhou, Mingwei; Nemes, Laszlo; Reidsema, Carl; Ahmed, Ammar; Kayis, Berman

In today's highly global business environment, engineering and manufacturing projects often involve two or more geographically dispersed units or departments, research centers or companies. This paper attempts to identify the requirements for risk management in a multi-site engineering project environment, and presents a review of the state-of-the-art tools and methods that can be used to manage risks in multi-site engineering projects. This leads to the development of a risk management roadmap, which will underpin the design and implementation of an intelligent risk mapping system.

[Application of risk grading and classification for occupational hazards in risk management for a shipbuilding project].

Science.gov (United States)

Zeng, Wenfeng; Tan, Qiang; Wu, Shihua; Deng, Yingcong; Liu, Lifen; Wang, Zhi; Liu, Yimin

2015-12-01

To investigate the application of risk grading and classification for occupational hazards in risk management for a shipbuilding project. The risk management for this shipbuilding project was performed by a comprehensive application of MES evaluation, quality assessment of occupational health management, and risk grading and classification for occupational hazards, through the methods of occupational health survey, occupational health testing, and occupational health examinations. The results of MES evaluation showed that the risk of occupational hazards in this project was grade 3, which was considered as significant risk; Q value calculated by quality assessment of occupational health management was 0.52, which was considered to be unqualified; the comprehensive evaluation with these two methods showed that the integrated risk rating for this shipbuilding project was class D, and follow- up and rectification were needed with a focus on the improvement in health management. The application of MES evaluation and quality assessment of occupational health management in risk management for occupational hazards can achieve objective and reasonable conclusions and has good applicability.

A review of risk management process in construction projects of developing countries

Science.gov (United States)

Bahamid, R. A.; Doh, S. I.

2017-11-01

In the construction industry, risk management concept is a less popular technique. There are three main stages in the systematic approach to risk management in construction industry. These stages include: a) risk response; b) risk analysis and evaluation; and c) risk identification. The high risk related to construction business affects each of its participants; while operational analysis and management of construction related risks remain an enormous task to practitioners of the industry. This paper tends towards reviewing the existing literature on construction project risk managements in developing countries specifically on risk management process. The literature lacks ample risk management process approach capable of capturing risk impact on diverse project objectives. This literature review aims at discovering the frequently used techniques in risk identification and analysis. It also attempts to identify response to clarifying the different classifications of risk sources in the existing literature of developing countries, and to identify the future research directions on project risks in the area of construction in developing countries.

Project management best practices: forging win-win partnerships and mitigating power project risk

International Nuclear Information System (INIS)

Trowsdale, R.

2006-01-01

This paper discusses aspects of project management to mitigate power project risk. end-to-end project development involves development phase, permitting phase, implementation phase, and operational phase. Each phase involves a number of different elements. In renewable energy project good management requires maintaining project discipline and schedule throughout all phases. Project success requires commercial competitiveness, fuel availability, power sales contracts, stake holder support, permitting, effective execution, construction and good technical performance

Ontological Analysis of the Project Risk Management Concept ‘Risk’

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Uzulāns Juris

2018-02-01

Full Text Available The aim of the current research series is to examine the definitions of the concept ‘risk’ and analyze the concepts used in the definitions of ‘risk’ in the sources of these definitions in order to perform the ontological analysis of the concept of ‘risk’. Ontological and epistemological analysis of the concepts in the definition of the concept ‘risk’ was used to answer the question what ‘risk’ means in project management. This investigation represents a part of the research series where the ontological, epistemological and methodological analysis of project risk is performed with the aim to improve risk registers and risk management as a whole. In the previous studies the author analyzed the concept of ‘event’ that defines the content of the concept ‘risk’. The use of ‘event’ was analyzed in different sources to find out how the concept should be used. The ontological, epistemological and methodological analysis of the definitions of the concept ‘risk’ is the theoretical foundation for risk register creation because it is possible to create complete and understandable register for the participants of the project risk management process. The author believes that the conducted research helps establish confidence that ontological analysis is the method that together with the epistemological and methodological analysis provides opportunity to perform analysis of risk management sources aimed at improving risk management. The results of the study cannot be considered sufficient for deriving valid conclusions about project risk management and developing recommendations for improving risk management with regard to the content of the risk register. For valid conclusions and recommendations, a deeper research is needed which, first of all, would analyze a larger number of sources.

Risks management in project planning

OpenAIRE

Stankevičiūtė, Roberta

2017-01-01

Project management consists of two very important aspects – managing the right project and managing the project right. To know that you are managing the right project you need to ensure that your project is based on an actual requirement and that your project goal is relevant and beneficial. And professional project planning assists in managing project the right way. The project planning process is very time consuming and is one of the most important parts of the project management process. T...

Risk Management in Future Romanian E-Government 2.0 Projects

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Didraga Otniel

2015-08-01

Full Text Available E-government public services in Romania must follow unitary procedures considering the new requirements of the European Union from the Digital Agenda for Europe Strategy 2020. E-government 2.0 has to be implemented because of the cultural and behavioral transformations in the interaction between governments and users of e-services. E-government 2.0 projects use tools and techniques of social media to accomplish their goals. This article examines the possible risk categories and the risk management procedures needed to mitigate risks in future Romanian e-government projects, according to the strategic lines of development for the Digital Agenda. We propose a risk management plan for the e-government lines of action within the strategic lines of development that includes identifying, assessing, and mitigating the risks. New and modernized government services through e-government 2.0 projects that apply risk management will bring a significant improvement in how citizens and businesses relate to government and will increase the use of e-government services.

Managing Risk and Uncertainty in Large-Scale University Research Projects

Science.gov (United States)

Moore, Sharlissa; Shangraw, R. F., Jr.

2011-01-01

Both publicly and privately funded research projects managed by universities are growing in size and scope. Complex, large-scale projects (over $50 million) pose new management challenges and risks for universities. This paper explores the relationship between project success and a variety of factors in large-scale university projects. First, we…

The analysis of financial risk management application for NPP project in Indonesia

International Nuclear Information System (INIS)

Imam Bastori; Moch Djoko Birmano

2012-01-01

NPP Project is one of full dynamic, risky and challenging business. Application of financial risk management t in Nuclear Power Plant (NPP) project becomes one alternative to be considered carefully. This paper explains an analysis to make a decision in the risk management application so that it can be applied in the NPP's construction in Indonesia. As case study, is NPP of conventional PWR type of class 1150 MWe. To calculate the economics and financing of NPP is used Spreadsheet INOVASI, further the decision of financial risk management were analyzed using a Model of Cash Flow Adjustment, which developed by Richard Fairchild. The analysis showed that the Method of Cash Flow Adjustment developed by Richard Fairchild is better than the method of NPV Adjustment on a NPP project, because it have included the aspects of financial risk management. NPP project can only be executed if the NPV 2 0 and decision to execute the financial risk management should be based on NPVrm > NPV. The application of financial risk management in NPP project is not needed if an insurance premium more expensive than all costs of financial distress, unless the insurance company can give discount of at least 20%. (author)

Risk Management Plan for Tank Farm Restoration and Safe Operations, Project W-314

International Nuclear Information System (INIS)

MCGREW, D.L.

2000-01-01

The Risk Management Plan for Project W-314 describes the systems, processes and procedures for implementation of applicable risk management practices described in HNF-0842, Volume IV, Section 2.6, ''Risk Management''. This plan is tailored specifically for use by Project W-314

Risk management integration into complex project organizations

Science.gov (United States)

Fisher, K.; Greanias, G.; Rose, J.; Dumas, R.

2002-01-01

This paper describes the approach used in designing and adapting the SIRTF prototype, discusses some of the lessons learned in developing the SIRTF prototype, and explains the adaptability of the risk management database to varying levels project complexity.

How to manage project opportunity and risk why uncertainty management can be a much better approach than risk management

CERN Document Server

Ward, Stephen

2011-01-01

Since I wrote the Foreword for the second edition of this book, risk management processes have become much more widely used, but controversy about what should be done and how best to do it has grown. Managing risk is a risky business. Chapman and Ward provide an in-depth explanation of why it is important to understand and manage underlying uncertainty in all its forms, in order to realise opportunities more fully and enhance corporate performance. They show what best practice should look like. The implications go well beyond the conventional wisdom of project risk management, providing an enl

Overlapping Boundaries of the Project Time Management and Project Risk Management

Directory of Open Access Journals (Sweden)

Marius PODEAN

2010-01-01

Full Text Available Based on utility function, milestones during project and/or the end of projects or programme may be categorized in what are called soft-deadline and hard-deadline. In contrast with the soft-end projects, the hard-end projects posses a decrease of utility function with a vertical asymptote character around the deadline for project completion. In extreme situations, the utility function itself may fall under zero (projects may generate losses to both constructor and customer. Existing risk analysis methodologies observe risks from monetary terms. The typical risks are correlated with an increase in final project costs. In order to estimate harddeadline milestones and/or end of projects or programme is critical to employ the time dimension rather than the typical cost-based risk analysis. Here, we comprehensively describe a structured methodology that focuses on minimizing and mitigating project specific delay risks. The method may supplement existing cost-based risk analysis in projects. We aim to elegantly combine moderation techniques to reveal the intrinsic risk of the projects. In addition to the technical risks, the moderation techniques are able to bring evidence of risks as the team efficacy, diverse un-correlations or miss-understanding about the roles of the team members in the team – most of the project soft risk. Described methodology encourages the common understanding of risks for participants, crystallizing the essence of what can go wrong in complex situations and where the opportunities can be unlocked.

RISK MANAGEMENT AUTOMATION OF SOFTWARE PROJECTS BASED ОN FUZZY INFERENCE

Directory of Open Access Journals (Sweden)

T. M. Zubkova

2015-09-01

Full Text Available Application suitability for one of the intelligent methods for risk management of software projects has been shown based on the review of existing algorithms for fuzzy inference in the field of applied problems. Information sources in the management of software projects are analyzed; major and minor risks are highlighted. The most critical parameters have been singled out giving the possibility to estimate the occurrence of an adverse situations (project duration, the frequency of customer’s requirements changing, work deadlines, experience of developers’ participation in such projects and others.. The method of qualitative fuzzy description based on fuzzy logic has been developed for analysis of these parameters. Evaluation of possible situations and knowledge base formation rely on a survey of experts. The main limitations of existing automated systems have been identified in relation to their applicability to risk management in the software design. Theoretical research set the stage for software system that makes it possible to automate the risk management process for software projects. The developed software system automates the process of fuzzy inference in the following stages: rule base formation of the fuzzy inference systems, fuzzification of input variables, aggregation of sub-conditions, activation and accumulation of conclusions for fuzzy production rules, variables defuzzification. The result of risk management automation process in the software design is their quantitative and qualitative assessment and expert advice for their minimization. Practical significance of the work lies in the fact that implementation of the developed automated system gives the possibility for performance improvement of software projects.

Risk Management in the Implementation of Smart Building Projects

Directory of Open Access Journals (Sweden)

Kankhva Vadim

2017-01-01

Full Text Available This article contains the results of a study of the risk control structure in the implementation of smart building projects, which are presented herein in the form of an operational risk management mechanism developed by the author and an improved definition of the risk management system. The mechanism is developed based on the analysis of a review of the current state of the construction sector and the existing organizational structures of construction companies, as well as based on the identification of new necessary functions and objectives of risk management systems. The results of the study can be used in the process of development and integration of risk management systems by the existing construction companies specialized in the construction of smart buildings.

Project management with dynamic scheduling baseline scheduling, risk analysis and project control

CERN Document Server

Vanhoucke, Mario

2013-01-01

The topic of this book is known as dynamic scheduling, and is used to refer to three dimensions of project management and scheduling: the construction of a baseline schedule and the analysis of a project schedule's risk as preparation of the project control phase during project progress. This dynamic scheduling point of view implicitly assumes that the usability of a project's baseline schedule is rather limited and only acts as a point of reference in the project life cycle.

The Strategic Risk Management at Different Stages of Innovation Project

OpenAIRE

Pysmak Viktoriia O.

2017-01-01

This article considers the theoretical principles of the strategic risk management at every stage of innovation project. Relevance of the selected area of research has been substantiated in view of the necessity to provide the theoretical and practical foundations for the strategic risk management of innovation activity. Principles of management of innovation at a contemporary enterprise have been allocated. Analysis of such concepts as «risk», «innovation», «strategic management» was carried...

Managing projects using a project management approach

Directory of Open Access Journals (Sweden)

Marko D. Andrejić

2011-04-01

these objectives should be like. Requirements and effects of the application of project management The goal of the project management methodology is to assist the manager in all of these elements, but also to provide a uniform way of evaluating his performance as an objective comparison of indicators in all projects that are implemented in the system. Project management methodology Efficient business operations and fulfilling the requests of users, or buyers if business is done for the third parties, require modern planning and management of projects using computers and appropriate software. Given that the project management with the help of network models requires frequent and rapid processing of large amount of data, it is obvious that the application of computers in this area is of utmost importance. System of reporting on project implementation To achieve effective monitoring, control and implementation of control actions, it is necessary to organize an effective reporting system that will provide timely and realistic information about the real state of the project, in terms of job performing time, the resources spent and the costs of project implementation. Concept of risk management In any project there are many different risk events by type, the probability of appearance, manner and size of the impact of the project. The process of testing the nature of risk events in the project as well as their potential impact on the outcome of the project and their interdependence are realized through the risk analysis. Conclusion Methodologies of project management surged from these differences, when it became apparent that a unified approach to the problem of project managing does not meet the unique project requirements. Taking into account that in the future projects will become more complex and that the methodology of project management will be required to deal with such projects, a proper selection of methodology within the organization is extremely important.

Risk management

OpenAIRE

Mcmanus, John

2009-01-01

Few projects are completed on time, on budget, and to their original requirement or specifications. Focusing on what project managers need to know about risk in the pursuit of delivering projects, Risk Management covers key components of the risk management process and the software development process, as well as best practices for risk identification, risk planning, and risk analysis. The book examines risk planning, risk analysis responses to risk, the tracking and modelling of risks, intel...

Project Management

DEFF Research Database (Denmark)

Pilkington, Alan; Chai, Kah-Hin; Le, Yang

2015-01-01

This paper identifies the true coverage of PM theory through a bibliometric analysis of the International Journal of Project Management from 1996-2012. We identify six persistent research themes: project time management, project risk management, programme management, large-scale project management......, project success/failure and practitioner development. These differ from those presented in review and editorial articles in the literature. In addition, topics missing from the PM BOK: knowledge management project-based organization and project portfolio management have become more popular topics...

Risks and opportunities management on laser Megajoule project: the development of a new knowledge

International Nuclear Information System (INIS)

Delafosse-Le Ber, H.; Deysson, St.; Briault, S.

2004-01-01

The interest of these six years spent to build the management through the Risks and the Opportunities (R and O) approach on the project Megajoule Laser as well did not hold with the practical application of a method as to the installation of a formal culture and to its evolution in time. This culture, it had to be progressively founded within a mainly technical project team. More qualitative with most quantitative aspects, the putting into practice of the R and O approach on project LMJ knew all the degrees of evolution and precision. The starting of the project saw being born the first analysis of its 'Project Risk' with a series of interviews, carried out by the Quality Manager at the time. This analysis took the shape of a technical item lists, which are identified in an empirical way. Then, some brainstorming meeting were led under the responsibility of the Technical Coordinator (which is the Project Manager assistant) in order to identify and to evaluate the 'Project Risk' on a qualitative way, but always keeping a strong technical connotation. The methodological reference of the 'Project Risk' was outlined taking into account the DGA AQ 923 without directly interaction with the other project processes (for example, the cost, the deadlines and the performance management). Initially, the project developed an Access database, which allows the storing of the risk files. Unfortunately, this database is isolated from the other project management data processing tools. In the second time, the project decided to obtain a dedicated organisation, hierarchically independent from the technical managers but however integrated into the project and attached to the assistant of the Control Project Manager. This organisation being called 'Risks and Opportunities Team', when the management of the opportunities supplemented the R and O approach. This team combines today the individual interviews and the Working Groups in order to identify and to evaluate the effects of the R

Risk management for engineering projects procedures, methods and tools

CERN Document Server

Munier, Nolberto

2014-01-01

Many people see risk in engineering projects as an imprecise and nebulous problem - something that exists, is feared and is impossible to deal with. Nothing could be further from the truth. While risk is certainly ubiquitous, sometimes difficult to detect, and cannot always be completely avoided, it can generally be mitigated, reduced or prevented through timely analysis and action.   This book covers the entire process of risk management by providing methodologies for determining the sources of project risk, and once threats have been identified, managing them through:   ·         identification and assessment (probability, relative importance, variables, risk breakdown structure, etc.) ·         implementation of measures for their prevention, reduction or mitigation ·         evaluation of impacts and quantification of risks ·         establishment of control measures   It also considers sensitivity analysis to determine the influence of uncertain parameters values ...

Current industrial practice of managing risks in product development project portfolios

DEFF Research Database (Denmark)

Weng, R.; Oehmen, Josef; Ben-Daya, M.

2013-01-01

Managing portfolios of development and engineering projects currently presents significant challenges to companies. This is even more the case in the management of portfolio risks, where both industry and academia currently lack a clear conceptual understanding of what portfolio risks are and what...

Integrating knowledge for managing risk in infrastructure projects : the case of tunnel works

NARCIS (Netherlands)

Chivatá Cárdenas, Ibsen

2012-01-01

The objective of traditional approaches to project risk management is to identify risks that can lead to project failure and to implement effective strategies to manage them. Information on the relevant causes and conditions in which failures arise is usually required as necessary input for

Application of Total Quality Management (TQM Requirements in Risk Management in Construction Projects in Iraq

Directory of Open Access Journals (Sweden)

Entisar K. Al-Geelawee

2016-06-01

Full Text Available Total quality management considers one of the modern scientific entrances which practiced by productivity service organizations alike to provide appropriate quality required outputs according to the needs and desires of customers manage , enable the organization seeking to continue and grow in light of the increasing competition from the satisfy and provide the appropriate total quality management requirements whenever led to face risks that they may have in a manner in which they can be addressed and find ways to avoid them in the future when repeated. The research has consist of two main parts firstly have included a review of the most important concepts of total quality management in addition to the concept of risk analysis and management in construction projects and how to apply the concept of total quality management in the risk analysis and management. Second part included the practical part of the research, which was open and closed questionnaire for experts in the construction industry to obtain required informations for the application of total quality management requirements in risk management in construction projects in Iraq. One of the main findings of the research is that top management support has a high impact on risk management in addition to continuous improvement, training and education, while the participation of all employees in the organization and constant stimulation and focusing on the customer as one of the total quality management requirements had a moderate impact on risk management.

Managing the risks of a large-scale infrastructure project : The case of Spoorzone Delft

NARCIS (Netherlands)

Priemus, H.

2012-01-01

Risk management in large-scale infrastructure projects is attracting the attention of academics and practitioners alike. After a brief summary of the theoretical background, this paper describes how the risk analysis and risk management shaped up in a current large-scale infrastructure project in

Meeting CCS communication challenges head-on: Integrating communications, planning, risk assessment, and project management

Science.gov (United States)

Greenberg, S.; Gauvreau, L.; Hnottavange-Telleen, K.; Finley, R.; Marsteller, S.

2011-01-01

The Midwest Geological Sequestration Consortium, Schlumberger Carbon Services, and Archer Daniels Midland has implemented a comprehensive communications plan at the Illinois Basin - Decatur Project (IBDP), a one million metric tonne Carbon Capture and Storage project in Decatur, IL, USA funded by the U.S. Department of Energy's National Energy Technology Laboratory. The IBDP Communication Plan includes consortium information, funding and disclaimer citations, description of target audiences, media communications guidelines, paper and presentations guidelines, site visit information, crisis communication, on-site photography regulations, and other components. The creation, development, and implementation processes for the IBDP Communication Plan (the Plan) are shared in this paper. New communications challenges, such as how to address add-on research requests, data sharing and management, scope increase, and contract agreements have arisen since the Plan was completed in January 2009, resulting in development of new policies and procedures by project management. Integrating communications planning, risk assessment, and project management ensured that consistent, factual information was developed and incorporated into project planning, and constitutes the basis of public communications. Successful integration has allowed the IBDP to benefit from early identification and mitigation of the potential project risks, which allows more time to effectively deal with unknown and unidentified risks that may arise. Project risks and risks associated with public perception can be managed through careful planning and integration of communication strategies into project management and risk mitigation. ?? 2011 Published by Elsevier Ltd.

Risk Management Affecting IS/IT Project Success Through Communicative Action

NARCIS (Netherlands)

de Bakker, K.F.C.; Boonstra, A.; Wortmann, J.C.

Project risk management is defined in the literature as being instrumental action based on rational problem solving. Research indicates limited positive effects of an exclusive focus of instrumental action on project success. This article proposes to extend this instrumental view through

RISK MANAGEMENT IN A LARGE-SCALE NEW RAILWAY TRANSPORT SYSTEM PROJECT

Directory of Open Access Journals (Sweden)

Sunduck D. SUH, Ph.D., P.E.

2000-01-01

Full Text Available Risk management experiences of the Korean Seoul-Pusan high-speed railway (KTX project since the planning stage are evaluated. One can clearly see the interplay of engineering and construction risks, financial risks and political risks in the development of the KTX project, which is the peculiarity of large-scale new railway system projects. A brief description on evaluation methodology and overview of the project is followed by detailed evaluations on key differences in risks between conventional railway system and high-speed railway system, social and political risks, engineering and construction risks, and financial risks. Risks involved in system procurement process, such as proposal solicitation, evaluation, selection, and scope of solicitation are separated out and evaluated in depth. Detailed events resulting from these issues are discussed along with their possible impact on system risk. Lessons learned and further possible refinements are also discussed.

Simulated Annealing Genetic Algorithm Based Schedule Risk Management of IT Outsourcing Project

Directory of Open Access Journals (Sweden)

Fuqiang Lu

2017-01-01

Full Text Available IT outsourcing is an effective way to enhance the core competitiveness for many enterprises. But the schedule risk of IT outsourcing project may cause enormous economic loss to enterprise. In this paper, the Distributed Decision Making (DDM theory and the principal-agent theory are used to build a model for schedule risk management of IT outsourcing project. In addition, a hybrid algorithm combining simulated annealing (SA and genetic algorithm (GA is designed, namely, simulated annealing genetic algorithm (SAGA. The effect of the proposed model on the schedule risk management problem is analyzed in the simulation experiment. Meanwhile, the simulation results of the three algorithms GA, SA, and SAGA show that SAGA is the most superior one to the other two algorithms in terms of stability and convergence. Consequently, this paper provides the scientific quantitative proposal for the decision maker who needs to manage the schedule risk of IT outsourcing project.

Managing Pre-Construction and Construction Risks on Project Sites in Abuja-Nigeria

Directory of Open Access Journals (Sweden)

Jimoh R.A.

2016-03-01

Full Text Available Managing risks in construction projects has been acknowledged as a key direction process for the purposes of attaining the project goal in terms of time, cost, quality, safety, and environmental sustainability. Hence, the paper evaluated pre-construction and construction risks on active project sites in Abuja-Nigeria. This was achieved using survey method through the self-administration of 35 questionnaires to the professionals handling the 35 identified projects being undertaking at that time. Results showed that errors and omissions in design and improperly defined project scope had mean score values of 3.03 and 2.54, respectively, were the construction risks most experienced by the professionals during pre-construction. On the other hand, fluctuation in market prices and delays with mean score values of 3.14 and 2.74, respectively, were the construction risks experienced by the professionals during the construction phase of the projects. It is recommended that procurement methods such as construction management should be adopted and stakeholders should keep to their own side of the bargain to avoid unnecessary delays.

Managing Distributed Software Projects

DEFF Research Database (Denmark)

Persson, John Stouby

Increasingly, software projects are becoming geographically distributed, with limited face-toface interaction between participants. These projects face particular challenges that need careful managerial attention. This PhD study reports on how we can understand and support the management...... of distributed software projects, based on a literature study and a case study. The main emphasis of the literature study was on how to support the management of distributed software projects, but also contributed to an understanding of these projects. The main emphasis of the case study was on how to understand...... the management of distributed software projects, but also contributed to supporting the management of these projects. The literature study integrates what we know about risks and risk-resolution techniques, into a framework for managing risks in distributed contexts. This framework was developed iteratively...

Risk management in methodologies of information technology and communications projects

Directory of Open Access Journals (Sweden)

Jonathan Carrillo

2013-12-01

Full Text Available (Received: 2013/10/02 - Accepted: 2013/12/13At present there are methodologies that have several alternatives and methods to manage projects of Information and Communication Technologies. However, these do not cover a solution for the technology events that can occur in the industry, government, education, among others. In the technology market there are several models to identify and analyze risks according to relevant aspects of their area of specialty e.g. projects, in software development, communications, information security and business alignment. For this reason, this research conducted an evaluation of risk management activities of the methodologies used mostly to know which of them includes more correspondence with basic elements of IT using a rating scale.

A Hybrid MCDM Technique for Risk Management in Construction Projects

Directory of Open Access Journals (Sweden)

Kajal Chatterjee

2018-02-01

Full Text Available Multi-stakeholder based construction projects are subject to potential risk factors due to dynamic business environment and stakeholders’ lack of knowledge. When solving project management tasks, it is necessary to quantify the main risk indicators of the projects. Managing these requires suitable risk mitigation strategies to evaluate and analyse their severity. The existence of information asymmetry also causes difficulties with achieving Pareto efficiency. Hence, to ensure balanced satisfaction of all participants, risk evaluation of these projects can be considered as an important part of the multi-criteria decision-making (MCDM process. In real-life problems, evaluation of project risks is often uncertain and even incomplete, and the prevailing methodologies fail to handle such situations. To address the problem, this paper extends the analytical network process (ANP methodology in the D numbers domain to handle three types of ambiguous information’s, viz. complete, uncertain, and incomplete, and assesses the weight of risk criteria. The D numbers based approach overcomes the deficiencies of the exclusiveness hypothesis and completeness constraint of Dempster–Shafer (D–S theory. Here, preference ratings of the decision matrix for each decision-maker are determined using a D numbers extended consistent fuzzy preference relation (D-CFPR. An extended multi-attributive border approximation area comparison (MABAC method in D numbers is then developed to rank and select the best alternative risk response strategy. Finally, an illustrative example from construction sector is presented to check the feasibility of the proposed approach. For checking the reliability of alternative ranking, a comparative analysis is performed with different MCDM approaches in D numbers domain. Based on different criteria weights, a sensitivity analysis of obtained ranking of the hybrid D-ANP-MABAC model is performed to verify the robustness of the proposed

Risk Management System and Project Staff Education Program for Overseas Construction Project Using the Expert System

OpenAIRE

Hirota, Yoichi

2007-01-01

The turnover of the Japanese contractors and the consulting firms has kept the same level since 1983, in spite of the fact that the size of domestic market is shrinking. This is why they do not have a proper management system, especially risk management system for the overseas construction projects. This study aims at building risk management system and developing education program that can be applied to reinforcing the ability, based on the author’s experience. Risk is defined as “uncertain ...

Managing geotechnical risk on US design-build transport projects

Directory of Open Access Journals (Sweden)

Kevin McLain

2014-03-01

Full Text Available Awarding design-build (DB contracts before a complete subsurface investigation is completed, makes mitigating the risk of differing site conditions difficult, if not impossible. The purpose of the study was to identify effective practices for managing geotechnical risk in DB projects, and it reports the results of a survey that included responses from 42 of 50 US state departments of transportation and a content analysis of DB requests for proposals from 26 states to gauge the client’s perspective, as well as 11 structured interviews with DB contractors to obtain the perspective from the other side of the DB contract.  A suite of DB geotechnical risk manage tools is presented based on the results of the analysis. Effective practices were found in three areas: enhancing communications on geotechnical issues before final proposals are submitted; the use of project-specific differing site conditions clauses; and expediting geotechnical design reviews after award. The major finding is that contract verbiage alone is not sufficient to transfer the risk of changed site conditions. The agency must actively communicate all the geotechnical information on hand at the time of the DB procurement and develop a contract strategy that reduces/retires the risk of geotechnical uncertainty as expeditiously as possible after award.

Bridging the Divide between Safety and Risk Management for your Project or Program

Science.gov (United States)

Lutomski, Mike

2005-01-01

This presentation will bridge the divide between these separate but overlapping disciplines and help explain how to use Risk Management as an effective management decision support tool that includes safety. Risk Management is an over arching communication tool used by management to prioritize and effectively mitigate potential problems before they concur. Risk Management encompasses every kind of potential problem that can occur on a program or project. Some of these are safety issues such as hazards that have a specific likelihood and consequence that need to be controlled and included to show an integrated picture of accepted) mitigated, and residual risk. Integrating safety and other assurance disciplines is paramount to accurately representing a program s or projects risk posture. Risk is made up of several components such as technical) cost, schedule, or supportability. Safety should also be a consideration for every risk. The safety component can also have an impact on the technical, cost, and schedule aspect of a given risk. The current formats used for communication of safety and risk issues are not consistent or integrated. The presentation will explore the history of these disciplines, current work to integrate them, and suggestions for integration for the future.

Review and Necessity of Recognizing Risk Management in Civil Projects and Contracts

OpenAIRE

VOSOUGHI, Pouyan; VOSOUGHI, Vandad

2015-01-01

Proper risk management is the reason for which risk (and its various types) is assigned to that section that is able to manage it in the best way but is the section which is able to manage the risk in the best way the same party that has the most effect on the probability of an adverse occurrence or is the section that is able to manage the results in the best way after the adverse occurrence. Now by considering the size, nature and complexity of the projects, the necessity of having the tech...

Risk assessment and management in IOR projects

International Nuclear Information System (INIS)

Goodyear, S.G.; Gregory, A.T.

1994-01-01

The application of IOR techniques is one of the investment opportunities open to Exploration and Production companies. A project will only go forward if the perceived balance between the rewards and the risks is acceptable. IOR projects may be ruled out because they are considered to involve significantly higher risks than conventional developments. Therefore, some means of evaluating the actual level of risk may be required if the full economic benefits from IOR techniques are to be realized. Risk assessment is a key element in safety cases, where a well-established methodology for quantifying risk exists. This paper discusses the extension of these methods to IOR project risk assessment. Combining reservoir and IOR technique uncertainties with their impact on project performance allows project risk to be better quantified. The results of the risk assessment are presented in terms of a risk-reward diagram that plots the probability surface for possible project outcomes as a function of NPV (reward) and exposure (risk)

Modern project-management

CERN Multimedia

CERN. Geneva

2003-01-01

This lecture will focus on the following issues: - The current state of the art in Project Management, especially the integration of Project Management with general management activities, and the integrated view of resources allocation. - Overview of the project life cycle, the phases and the deliverables - Necessity and limits of planning in a research environment - Organizational aspects of the projects the roles of the stakeholders - How to get the resources when they are needed - Risk Management in Projects - Earned value - How to keep a project on track (schedule and budget) - Management of the suppliers - Closing of the project

Evaluation and financial risk management of urban renewal projects in partnership with public and private

Directory of Open Access Journals (Sweden)

Ehsan Hassani

2011-10-01

Full Text Available Financing plays an important role for renewal of old city building is find suitable financing plan. A proper financial management in one hand has a direct relationship with project main factors such as: time, cost and quality of the project, and on the other hand, achieving project goals requires a comprehensive insight of project, stockholders as well as other relative situation in regard with the project. Considering the complication of execution such projects and the number of shareholders, one of the best attitudes towards the project management is risk management. This research is a qualitative and practical, which reviews the effects of project management factors on financial return of urban renewal sachem. The required information gained through a survey and via questionnaire and interviews with specialists. This article first describes the public private financial partnership and then, based on the results gained from a case study done on one of the renewal schemes in Mashhad metropolitan areas. Next, it identifies and evaluates of positive and negative risks, which lead to threats and opportunities will be performed and will attempt to respond the existent risks. Finally, we provide a framework for the risk assessment of the housing units.

Information technology project risk management in Peru

OpenAIRE

Del Carpio Gallegos, Javier

2014-01-01

This article shows how some principles, uses, and practices of risk management are applied in information technology projects in Peru; in the last four years, in representative sectors like manufacturing, banking, information and communications, academics institutions, construction, government, consulting, services, and others. El presente artículo muestra algunos principios, usos y prácticas de cómo la gestión de riesgos de proyectos de tecnología se ha llevado a cabo en los últimos cuatr...

Agile risk management

CERN Document Server

Moran, Alan

2014-01-01

This work is the definitive guide for IT managers and agile practitioners. It elucidates the principles of agile risk management and how these relate to individual projects. Explained in clear and concise terms, this synthesis of project risk management and agile techniques is illustrated using the major methodologies such as XP, Scrum and DSDM.Although the agile community frequently cites risk management, research suggests that risk is often narrowly defined and, at best, implicitly treated, which in turn leads to an inability to make informed decisions concerning risk and reward and a poor u

ERP project implementation and risk management of nuclear power enterprise

International Nuclear Information System (INIS)

Wang Fei

2008-01-01

According to the characteristic and development trend of nuclear power enterprise informatization, combined with the general ERP implementation experience, the method is proposed to ensure the successful implementation and risk management of ERP project in nuclear power enterprise. (authors)

Study on Risk Approaches in Software Development Projects

Directory of Open Access Journals (Sweden)

Claudiu BRANDAS

2012-01-01

Full Text Available Risk approaches in project development led to the integration in the IT project management methodologies and software development of activities and processes of risk management. The diversity and the advanced level of the used technologies in IT projects with increasing com-plexity leads to an exponential diversification of risk factors.The purpose of this research is to identify the level of the risk approach in IT projects both at the IT project management and software development methodologies level and the level of the perception of IT project man-agers, IT managers and IT analysts in Romanian IT companies. Thus, we want to determine the correlation between the use of a project management or software development methodology and the overall level of risk perceived by the project managers using these methodologies.

Continuous Risk Management at NASA

Science.gov (United States)

Hammer, Theodore F.; Rosenberg, Linda

1999-01-01

NPG 7120.5A, "NASA Program and Project Management Processes and Requirements" enacted in April, 1998, requires that "The program or project manager shall apply risk management principles..." The Software Assurance Technology Center (SATC) at NASA GSFC has been tasked with the responsibility for developing and teaching a systems level course for risk management that provides information on how to comply with this edict. The course was developed in conjunction with the Software Engineering Institute at Carnegie Mellon University, then tailored to the NASA systems community. This presentation will briefly discuss the six functions for risk management: (1) Identify the risks in a specific format; (2) Analyze the risk probability, impact/severity, and timeframe; (3) Plan the approach; (4) Track the risk through data compilation and analysis; (5) Control and monitor the risk; (6) Communicate and document the process and decisions. This risk management structure of functions has been taught to projects at all NASA Centers and is being successfully implemented on many projects. This presentation will give project managers the information they need to understand if risk management is to be effectively implemented on their projects at a cost they can afford.

Methodologies of Project Management

Directory of Open Access Journals (Sweden)

Wojciech Macek

2011-07-01

Full Text Available This paper presents comparison of three most popular project management standardsbelonging to a wider group of models (for example, PMBOK, Prince 2, CMMI, ISO 10006,BS 6079, IPMA Competence Baseline, European Commission Project Cycle ManagementGuidelines. The author discusses methods of project management according to PMBoK,Prince 2 and ISO 10006, some chosen criteria and fields of knowledge, such as generalregulations of standards, project range management, resources management, and processesconnected with risk, systems of project quality management.

Risk management in the project of implantation of the repository for low and intermediate level radioactive waste

International Nuclear Information System (INIS)

Borssatto, Maria de Fatima B.; Tello, Cledola Cassia O. de; Uemura, George

2011-01-01

Project RBMN is part of the Brazilian solution for the storage of radioactive waste generated by the activities of nuclear energy in Brazil. The aim of RBMN is to implement the National Repository to dispose the low and intermediate-level radioactive waste. Risk is a characteristic of all projects, and it is originated from uncertainties, assumptions and the environment of execution of the project. Risk management is the way to monitor systematically these uncertainties and a guaranty that the goals of the project will be attained. A specific methodology for the risk management of the Project RBMN is under development, which integrates models and processes for identification and analysis of risks, reactions, monitoring, control and planning of risk management. This methodology is fundamental and will be of primordial importance for future generations who will be responsible for the operation at final stages, closure and institutional control during the post-closure of the repository. It will provide greater safety to executed processes and safeguarding risks and specific solutions for this enterprise, guaranteeing the safety of the repository in its life cycle, which has a foreseen duration of at least three hundred years. The aim of this paper is to present the preliminary analysis of the opportunities, threats, strong points and weak points identified up to now, that will provide support to implement risk management procedures. The methodology will be based on the PMBOK R - Project Management Board of Knowledge - and will take into consideration the best practices for project management.(author)

The MERINOVA project: MEteorological RIsks as drivers of environmental inNOvation in Agro-ecosystem management

Science.gov (United States)

Gobin, Anne; Van de vijver, Hans; Zamani, Sepideh; Curnel, Yannick; Planchon, Viviane; Verspecht, Ann; Van Huylenbroeck, Guido

2014-05-01

Devastating weather-related events have captured the interest of the general public in Belgium. Extreme weather events such as droughts, heat waves and rain storms are projected to increase both in frequency and magnitude with climate change. Since more than half of the Belgian territory is managed by the agricultural sector, extreme events may have significant impacts on agro-ecosystem services and pose severe limitations to sustainable agricultural land management. The research hypothesis of the MERINOVA project is that meteorological risks act as drivers of environmental innovation in agro-ecosystem management. The major objectives are to characterise extreme meteorological events, assess the impact on Belgian agro-ecosystems, characterise their vulnerability and resilience to these events, and explore innovative adaptation options to agricultural risk management. The project comprises of five major parts that reflect the chain of risks: the hazard, its impact on different agro-ecosystems, vulnerability, risk management and risk communication. Impacts developed from physically based models not only provide information on the state of the damage at any given time, but also assist in understanding the links between different factors causing damage and determining bio-physical vulnerability. Socio-economic impacts enlarge the basis for vulnerability mapping, risk management and adaptation options. The perspective of rising risk-exposure is exacerbated further by more limits to aid received for agricultural damage and an overall reduction of direct income support to farmers. The main findings of each of these project building blocks will be communicated. MERINOVA provides for a robust and flexible framework by demonstrating its performance across Belgian agro-ecosystems, and by ensuring its relevance to policy makers and practitioners. A strong expert and end-user network is established to help disseminating and exploiting project results to meet user needs. The

Using prior risk-related knowledge to support risk management decisions: lessons learnt from a tunneling project.

Science.gov (United States)

Cárdenas, Ibsen Chivatá; Al-Jibouri, Saad S H; Halman, Johannes I M; van de Linde, Wim; Kaalberg, Frank

2014-10-01

The authors of this article have developed six probabilistic causal models for critical risks in tunnel works. The details of the models' development and evaluation were reported in two earlier publications of this journal. Accordingly, as a remaining step, this article is focused on the investigation into the use of these models in a real case study project. The use of the models is challenging given the need to provide information on risks that usually are both project and context dependent. The latter is of particular concern in underground construction projects. Tunnel risks are the consequences of interactions between site- and project-specific factors. Large variations and uncertainties in ground conditions as well as project singularities give rise to particular risk factors with very specific impacts. These circumstances mean that existing risk information, gathered from previous projects, is extremely difficult to use in other projects. This article considers these issues and addresses the extent to which prior risk-related knowledge, in the form of causal models, as the models developed for the investigation, can be used to provide useful risk information for the case study project. The identification and characterization of the causes and conditions that lead to failures and their interactions as well as their associated probabilistic information is assumed to be risk-related knowledge in this article. It is shown that, irrespective of existing constraints on using information and knowledge from past experiences, construction risk-related knowledge can be transferred and used from project to project in the form of comprehensive models based on probabilistic-causal relationships. The article also shows that the developed models provide guidance as to the use of specific remedial measures by means of the identification of critical risk factors, and therefore they support risk management decisions. Similarly, a number of limitations of the models are

Value of risk management

OpenAIRE

Vik, Marie Amdal

2012-01-01

Master's thesis in Risk management The overall aim of this study was to discuss the validity of the hypothesis that risk management contributes with added value to projects and the enterprise holding the projects, and consequently to the enterprise’s stakeholders. To examine this hypothesis, a case study of three projects taken from the same portfolio at Statoil was selected. The projects were said to have an active risk management. Data was collected from the project’s documentation as...

CONDITIONS OF SUSTAINABILITY OF INVESTMENT BUILDING PROJECTS BASED ON THE RISK MANAGEMENT CONCEPT

Directory of Open Access Journals (Sweden)

Morozenko Andrey Aleksandrovich

2012-10-01

minimization of risky situations requires reduction of the project implementation period; development of domestic methodologies and standards of project risk management tailored to the conditions of our construction industry is a relevant assignment.

工程项目的融资风险管理研究%Financing risk management research project

Institute of Scientific and Technical Information of China (English)

王永嘉; 陈璐

2014-01-01

The project financing risk management is a very important aspect of project management,in order to strengthen the management of the project financing risk,the paper detailed the financing risk management process describes the project,and the risk financing process analyzed simultaneously to find the financing process problems,and for the emergence of the problem,a project to promote the development of the main financing risk management measures,thus contributing to strengthen risk management and financing of the project.%工程项目的融资风险管理是工程项目管理的一个非常重要的方面，为了加强对工程项目融资风险的管理，本文详细的介绍工程项目的融资风险管理过程，并对融资过程中的风险进行了分析，同时找出了融资过程中出现的问题，并针对出现的问题，提出了促进工程项目融资风险管理发展的主要对策。

Comprehensive management of project changes

Directory of Open Access Journals (Sweden)

Aljaž Stare

2010-06-01

Full Text Available The goal of this research was to examine how project changes can be prevented, and how to reduce their negative impact. Theoretical research examined risk management, project control and change management. Based on the study a “Comprehensive Change Management Model” was developed and verified after conducting empirical research in Slovenian enterprises. The research confirmed that risk management identifies possible changes and reduces their impact; project control ensures the timely detection of changes and an efficient response, while formal change management ensures the effective implementation of changes. The combined functioning of all three areas ensures effective project execution.

Tank waste remediation system risk management plan

International Nuclear Information System (INIS)

Zimmerman, B.D.

1998-01-01

The purpose of the Tank Waste Remediation System (TWRS) Risk Management Plan is to describe a consistent approach to risk management such that TWRS Project risks are identified and managed to achieve TWRS Project success. The Risk Management Plan implements the requirements of the Tank Waste Remediation System Systems Engineering Management Plan in the area of risk management. Figure ES-1 shows the relationship of the TWRS Risk Management Plan to other major TWRS Project documents. As the figure indicates, the Risk Management Plan is a tool used to develop and control TWRS Project work. It provides guidance on how TWRS Project risks will be assessed, analyzed, and handled, and it specifies format and content for the risk management lists, which are a primary product of the risk management process. In many instances, the Risk Management Plan references the TWRS Risk Management Procedure, which provides more detailed discussion of many risk management activities. The TWRS Risk Management Plan describes an ongoing program within the TWRS Project. The Risk Management Plan also provides guidance in support of the TWRS Readiness To-Proceed (RTP) assessment package

Risk management in a large-scale CO2 geosequestration pilot project, Illinois, USA

Science.gov (United States)

Hnottavange-Telleen, K.; Chabora, E.; Finley, R.J.; Greenberg, S.E.; Marsteller, S.

2011-01-01

Like most large-scale infrastructure projects, carbon dioxide (CO 2) geological sequestration (GS) projects have multiple success criteria and multiple stakeholders. In this context "risk evaluation" encompasses multiple scales. Yet a risk management program aims to maximize the chance of project success by assessing, monitoring, minimizing all risks in a consistent framework. The 150,000-km2 Illinois Basin underlies much of the state of Illinois, USA, and parts of adjacent Kentucky and Indiana. Its potential for CO2 storage is first-rate among basins in North America, an impression that has been strengthened by early testing of the injection well of the Midwest Geological Sequestration Consortium's (MGSC's) Phase III large scale demonstration project, the Illinois Basin - Decatur Project (IBDP). The IBDP, funded by the U.S. Department of Energy's National Energy Technology Laboratory (NETL), represents a key trial of GS technologies and project-management techniques. Though risks are specific to each site and project, IBDP risk management methodologies provide valuable experience for future GS projects. IBDP views risk as the potential for negative impact to any of these five values: health and safety, environment, financial, advancing the viability and public acceptability of a GS industry, and research. Research goals include monitoring one million metric tonnes of injected CO2 in the subsurface. Risk management responds to the ways in which any values are at risk: for example, monitoring is designed to reduce uncertainties in parameter values that are important for research and system control, and is also designed to provide public assurance. Identified risks are the primary basis for risk-reduction measures: risks linked to uncertainty in geologic parameters guide further characterization work and guide simulations applied to performance evaluation. Formally, industry defines risk (more precisely risk criticality) as the product L*S, the Likelihood multiplied

Quantitative risk management in gas injection project: a case study from Oman oil and gas industry

Science.gov (United States)

Khadem, Mohammad Miftaur Rahman Khan; Piya, Sujan; Shamsuzzoha, Ahm

2017-09-01

The purpose of this research was to study the recognition, application and quantification of the risks associated in managing projects. In this research, the management of risks in an oil and gas project is studied and implemented within a case company in Oman. In this study, at first, the qualitative data related to risks in the project were identified through field visits and extensive interviews. These data were then translated into numerical values based on the expert's opinion. Further, the numerical data were used as an input to Monte Carlo simulation. RiskyProject Professional™ software was used to simulate the system based on the identified risks. The simulation result predicted a delay of about 2 years as a worse case with no chance of meeting the project's on stream date. Also, it has predicted 8% chance of exceeding the total estimated budget. The result of numerical analysis from the proposed model is validated by comparing it with the result of qualitative analysis, which was obtained through discussion with various project managers of company.

Continuous Risk Management: An Overview

Science.gov (United States)

Rosenberg, Linda; Hammer, Theodore F.

1999-01-01

Software risk management is important because it helps avoid disasters, rework, and overkill, but more importantly because it stimulates win-win situations. The objectives of software risk management are to identify, address, and eliminate software risk items before they become threats to success or major sources of rework. In general, good project managers are also good managers of risk. It makes good business sense for all software development projects to incorporate risk management as part of project management. The Software Assurance Technology Center (SATC) at NASA GSFC has been tasked with the responsibility for developing and teaching a systems level course for risk management that provides information on how to implement risk management. The course was developed in conjunction with the Software Engineering Institute at Carnegie Mellon University, then tailored to the NASA systems community. This is an introductory tutorial to continuous risk management based on this course. The rational for continuous risk management and how it is incorporated into project management are discussed. The risk management structure of six functions is discussed in sufficient depth for managers to understand what is involved in risk management and how it is implemented. These functions include: (1) Identify the risks in a specific format; (2) Analyze the risk probability, impact/severity, and timeframe; (3) Plan the approach; (4) Track the risk through data compilation and analysis; (5) Control and monitor the risk; (6) Communicate and document the process and decisions.

Project management in health informatics.

Science.gov (United States)

Ho, Jessica

2010-01-01

This chapter gives an educational overview of: * the concept of project management and its role in modern management * the generic project lifecycle process * processes used in developing a plan for the management of resources - time, cost, physical resources and people * the concept of managing risk in projects * communication processes and practices that are important to the management of projects.

Management & Communication: Project Management Case Study

CERN Multimedia

Nathalie Dumeaux

2004-01-01

We are pleased to announce the recent launch of a new workshop on Project Management. This is designed for People with budgetary, scheduling and/or organizational responsibilities in a project or a sub-project. The objectives through a management case study specially suited to CERN are: to become familiar with modern management techniques in use for structuring, planning, scheduling, costing and progress monitoring of a project or a sub-project. to understand in-depth issues associated with Deliverable-oriented Project Management, Earned Value Management, Advanced Project Cost Engineering and Project Risk Management. The full description of this workshop can be found here. The next session will be held on 8 October 2004. If you are interested in this workshop, please contact Nathalie Dumeaux, email or 78144. Programme of Seminars October to December 2004 Situation : 21.09.2004 Séminaires bilingues Dates Jours Places disponibles Project Management Case study 8 October 1 oui Intr...

Management of research and development project

International Nuclear Information System (INIS)

Go, Seok Hwa; Hong Jeong Yu; Hyun, Byeong Hwan

2010-12-01

This book introduces summary on management of research and development project, prepare of research and development with investigation and analysis of paper, patent and trend of technology, structure of project, management model, management of project, management of project range, management of project time, management of project cost, management of project goods, management of project manpower, management of communication, management of project risk, management of project supply, management of outcome of R and D, management of apply and enroll of patent and management of technology transfer.

Risk management tools from the traditional energy industry to wind energy projects

International Nuclear Information System (INIS)

Randall, G.; Marks, R.

2010-01-01

Risk-based analysis techniques are used to quantify and prioritize a wide variety of problems within the traditional fossil fuel and nuclear power industries. This poster presentation evaluated some of the risk analysis tools and methods used by the energy industry to quantify and manage wind energy development risks. A comprehensive risk-based approach for identifying the probability and consequences of potential concerns was presented for a sample wind energy project. The process determined objectives in relation to the project's net present value. Contributing domains included the energy production, prices, and operating costs of the project. Decision criteria used to evaluate the desirability of the wind project were then developed. Monte Carlo simulations were the used to aggregate individual risks into an overall total. The contribution of each element to the decision objective was calculated separately. The element outputs were than combined into a measure of aggregate risk exposure. Aggregate results were used to calculate the decision criteria. The decision objective was to determine if the energy cost was less than the avoided cost of other project options. The study showed that the approach can allow decision-makers to mitigate risks. However, the results are dependent on the quality of the input data. tabs., figs.

TECHNICAL RISK RATING OF DOE ENVIRONMENTAL PROJECTS - 9153

International Nuclear Information System (INIS)

Cercy, M.; Fayfich, Ronald; Schneider, Steven P.

2008-01-01

The U.S. Department of Energy's Office of Environmental Management (DOE-EM) was established to achieve the safe and compliant disposition of legacy wastes and facilities from defense nuclear applications. The scope of work is diverse, with projects ranging from single acquisitions to collections of projects and operations that span several decades and costs from hundreds of millions to billions US$. The need to be able to manage and understand the technical risks from the project to senior management level has been recognized as an enabler to successfully completing the mission. In 2008, DOE-EM developed the Technical Risk Rating as a new method to assist in managing technical risk based on specific criteria. The Technical Risk Rating, and the criteria used to determine the rating, provides a mechanism to foster open, meaningful communication between the Federal Project Directors and DOE-EM management concerning project technical risks. Four indicators (technical maturity, risk urgency, handling difficulty and resolution path) are used to focus attention on the issues and key aspects related to the risks. Pressing risk issues are brought to the forefront, keeping DOE-EM management informed and engaged such that they fully understand risk impact. Use of the Technical Risk Rating and criteria during reviews provides the Federal Project Directors the opportunity to openly discuss the most significant risks and assists in the management of technical risks across the portfolio of DOE-EM projects. Technical Risk Ratings can be applied to all projects in government and private industry. This paper will present the methodology and criteria for Technical Risk Ratings, and provide specific examples from DOE-EM projects

Academy of Program/Project & Engineering Leadership Orbital Debris Management and Risk Mitigation

Data.gov (United States)

National Aeronautics and Space Administration — The NASA Academy of Program/Project & Engineering Leadership (APPEL) is excited to announce the public release of Orbital Debris Management and Risk Mitigation,...

The formation of a risk management system for projects in the field of aquaculture innovative development in the Kaliningrad region: a case study

Directory of Open Access Journals (Sweden)

Serbulov Alexey

2012-03-01

Full Text Available This article sets out to develop the concept and the principal scheme of the formation of a risk management system for innovative economic development projects in the field of aquaculture. The research carried out by the authors helps identify the main problems and characteristics of risk management projects for the development of aquaculture in presentday Russia. The authors outline the status and features of aquaculture development projects in the North-western federal district and the Kaliningrad region. The article formulates and justifies the concept of “risk management projects in innovative development of aquaculture in the region” focusing on the classification of aquaculture risks in relation to innovative development projects, which expands the conceptual framework of risk management in view of the specific risks relating to economic development projects in the field of aquaculture. The authors characterize modern methods and approaches to risk management projects and organizations in the context of their application in the framework of aquaculture development projects and offer mechanisms for risk management of aquaculture development projects, which make it possible to include risk management activity in the general context of activities of parent project organizations. The authors develop the concept and principal scheme of the formation of risk management system for innovative development projects in aquaculture.

TRManager – Technical Risk Manager

Directory of Open Access Journals (Sweden)

Mark A. Gregory

2009-06-01

Full Text Available This paper presents research into the development of a new information management technique called Technical Risk Manager. Project management involves the use of processes and information management techniques to aid decision making in the pursuit of project success. Project success may be achieved by meeting time, cost or performance criteria. Current project management practices focus on achieving time and cost project success criteria by using three information management techniques developed in the 1950s: Gantt, PERT and Critical Path Method. Technical Risk Manager has been developed to provide an information management technique that may be used to aid project management decision making in the pursuit of achieving the performance project success criteria.

Successful project management

CERN Document Server

Young, Trevor L

2016-01-01

Successful Project Management, 5th edition, is an essential guide for anyone who wants to improve the success rate of their projects. It will help managers to maintain a balance between the demands of the customer, the project, the team and the organization. Covering the more technical aspects of a project from start to completion it contains practised and tested techniques, covering project conception and start-up, how to manage stake holders, effective risk management, project planning and launch and execution. Also including a brand new glossary of key terms, it provides help with evaluating your project as well as practical checklists and templates to ensure success for any ambitious project manager. With over one million copies sold, the hugely popular Creating Success series covers a wide variety of topic, with the latest editions including new chapters such as Tough Conversations and Treating People Right. This indispensable business skills collection is suited to a variety of roles, from someone look...

Handbook for Volcanic Risk Management: an outcome from MIAVITA project

Science.gov (United States)

Bignami, Christian; Bosi, Vittorio; Costantini, Licia; Cristiani, Chiara; Lavigne, Franck; Thierry, Pierre

2013-04-01

Volcanic eruptions are one of the most impressive, violent and dramatic agents of change on Earth, threatening hundreds of millions of people. The crises management implies a strong cooperation among the main stakeholders (e.g., civil protection authorities, scientific institutions, operational forces). Considering the great amount of different actions required during the whole volcanic cycle (e.g., preparedness, unrest phase, crisis management, resilience), the role and responsibilities of stakeholders should be clarified in advance. In particular, the role of scientists, fundamental in all the phases, should be well discussed with the other stakeholders and well defined, for every country. This will allow a better management and response, and contribute to avoid misunderstanding. The new "Handbook for Volcanic Risk Management" issued by the MIAVITA European project, funded by the European Commission (Mitigate and Assess risk from Volcanic Impact on Terrain and human Activities) gives a contribution to that. Indeed, this handbook aims at synthesizing the acquired knowledge on volcanic risk management, such as prevention, preparedness, mitigation, intervention, crisis management and resilience, in a practical and useful way. It promotes the creation of an ideal bridge between different actors involved in risk management, improving and facilitating interactions among authorities and scientists. This work is based on current scientific research and the shared experience of the different MIAVITA project partners as well as on international good practices previously recommended. The handbook is composed of six sections. The first one briefly explains the global volcanic context and the principles of corresponding risk management. Section 2 contains a description of volcanic phenomena, damage and understanding size and effects that can be expected. Sections 3, 4 and 5 meet preparation and prevention issues and describe actions to be undertaken during the response phase

Risk management of PPP project in the preparation stage based on Fault Tree Analysis

Science.gov (United States)

Xing, Yuanzhi; Guan, Qiuling

2017-03-01

The risk management of PPP(Public Private Partnership) project can improve the level of risk control between government departments and private investors, so as to make more beneficial decisions, reduce investment losses and achieve mutual benefit as well. Therefore, this paper takes the PPP project preparation stage venture as the research object to identify and confirm four types of risks. At the same time, fault tree analysis(FTA) is used to evaluate the risk factors that belong to different parts, and quantify the influencing degree of risk impact on the basis of risk identification. In addition, it determines the importance order of risk factors by calculating unit structure importance on PPP project preparation stage. The result shows that accuracy of government decision-making, rationality of private investors funds allocation and instability of market returns are the main factors to generate the shared risk on the project.

41 CFR 102-80.55 - Are Federal agencies responsible for managing the execution of risk reduction projects?

Science.gov (United States)

2010-07-01

... Management Risks and Risk Reduction Strategies § 102-80.55 Are Federal agencies responsible for managing the... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false Are Federal agencies responsible for managing the execution of risk reduction projects? 102-80.55 Section 102-80.55 Public...

Understanding Pre-Quantitative Risk in Projects

Science.gov (United States)

Cooper, Lynne P.

2011-01-01

Standard approaches to risk management in projects depend on the ability of teams to identify risks and quantify the probabilities and consequences of these risks (e.g., the 5 x 5 risk matrix). However, long before quantification does - or even can - occur, and long after, teams make decisions based on their pre-quantitative understanding of risk. These decisions can have long-lasting impacts on the project. While significant research has looked at the process of how to quantify risk, our understanding of how teams conceive of and manage pre-quantitative risk is lacking. This paper introduces the concept of pre-quantitative risk and discusses the implications of addressing pre-quantitative risk in projects.

RISK MANAGEMENT IN THE OPERATING ACTIVITIES OF AN ENTERPRISE AND IN PUBLIC-PRIVATE PARTNERSHIP PROJECTS

Directory of Open Access Journals (Sweden)

Lech Jędrzejewski

2017-03-01

Full Text Available The paper is devoted to issues related to building a risk management system for businesses in the areas of operations and implementation of infrastructure projects. The article defines the concept of risk in business processes and identifies risks occurring in infrastructure projects. In the text, the principles have been presented for protection against the effects of political, contracting, environmental, ecological, product, process, operational and personnel risk.

Data Management in Metagenomics: A Risk Management Approach

Directory of Open Access Journals (Sweden)

Filipe Ferreira

2014-07-01

Full Text Available In eScience, where vast data collections are processed in scientific workflows, new risks and challenges are emerging. Those challenges are changing the eScience paradigm, mainly regarding digital preservation and scientific workflows. To address specific concerns with data management in these scenarios, the concept of the Data Management Plan was established, serving as a tool for enabling digital preservation in eScience research projects. We claim risk management can be jointly used with a Data Management Plan, so new risks and challenges can be easily tackled. Therefore, we propose an analysis process for eScience projects using a Data Management Plan and ISO 31000 in order to create a Risk Management Plan that can complement the Data Management Plan. The motivation, requirements and validation of this proposal are explored in the MetaGen-FRAME project, focused in Metagenomics.

RIMAP demonstration project. Pat. 1: Risk based life management of piping system in power plant Heilbronn

International Nuclear Information System (INIS)

Bareiss, J.; Puck, P.; Matschecko, B.; Jovanovic, A.; Balos, D.; Perunicic

2003-01-01

In the framework of EU project RIMAP [1] a new European Guideline for optimized risk based maintenance and inspection planning of industrial plants (RBLM - Risk Based Life Management) is being developed. The RIMAP project consists of the three clustered projects: development (RTD), demonstration (DEMO) and thematic network (TN). Current work and future, planned work in RIMAP demonstration project on applications of the RIMAP methodology in power plants are presented briefly in the first part of the paper. Also presented in the paper are the results of a preliminary analysis of piping system in power plant Heilbronn using the concept of risk-based monitoring as part of overall concept of risk-based life management. Shortly the following issues are discussed in the paper: identification of critical components, application of a multilevel risk analysis (..from ''screening'' to ''detailed analysis''), determination of PoF - Probability of Failure, determination of COF - Consequence of Failure and optimation of inspection and maintenance plan. (orig.)

Risk Management Capability Maturity and Performance of Complex Product and System (CoPS Projects with an Asian Perspective

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Ren, Y.

2014-07-01

Full Text Available Complex Products and Systems (CoPS are high value, technology and engineering-intensive capital goods. The motivation of this study is the persistent high failure rate of CoPS projects, Asian CoPS provider’s weak capability and lack of specific research on CoPS risk management. This paper evaluates risk management maturity level of CoPS projects against a general CoPS risk management capability maturity model (RM-CMM developed by the authors. An Asian based survey was conducted to investigate the value of RM to project performance, and Asian (non-Japanese CoPS implementers’ perceived application of RM practices, their strengths and weaknesses. The survey result shows that higher RM maturity level leads to higher CoPS project performance. It also shows project complexity and uncertainty moderates the relationship between some RM practices and project performance, which implies that a contingency approach should be adopted to manage CoPS risks effectively. In addition, it shows that Asian CoPS implementers are weak in RM process and there are also rooms for improvement in the softer aspects of organizational capabilities and robustness.

Strategies for successful software development risk management

Directory of Open Access Journals (Sweden)

Marija Boban

2003-01-01

Full Text Available Nowadays, software is becoming a major part of enterprise business. Software development is activity connected with advanced technology and high level of knowledge. Risks on software development projects must be successfully mitigated to produce successful software systems. Lack of a defined approach to risk management is one of the common causes for project failures. To improve project chances for success, this work investigates common risk impact areas to perceive a foundation that can be used to define a common approach to software risk management. Based on typical risk impact areas on software development projects, we propose three risk management strategies suitable for a broad area of enterprises and software development projects with different amounts of connected risks. Proposed strategies define activities that should be performed for successful risk management, the one that will enable software development projects to perceive risks as soon as possible and to solve problems connected with risk materialization. We also propose a risk-based approach to software development planning and risk management as attempts to address and retire the highest impact risks as early as possible in the development process. Proposed strategies should improve risk management on software development projects and help create a successful software solution.

Risk management in public sector construction projects: Case ...

African Journals Online (AJOL)

a project environment. Since projects are complicated, experience ... work, delays trigger cost overruns in construction projects (African. Development Bank ..... quantity surveying, contract management, and engineering. Table 4: Research ..... professionals at the business and operational levels of construction management.

Risk management of energy efficiency projects in the industry - sample plant for injecting pulverized coal into the blast furnaces

Directory of Open Access Journals (Sweden)

Jovanović Filip P.

2016-01-01

Full Text Available This paper analyses the applicability of well-known risk management methodologies in energy efficiency projects in the industry. The possibilities of application of the selected risk management methodology are demonstrated within the project of the plants for injecting pulverized coal into blast furnaces nos. 1 and 2, implemented by the company US STEEL SERBIA d.o.o. in Smederevo. The aim of the project was to increase energy efficiency through the reduction of the quantity of coke, whose production requires large amounts of energy, reduction of harmful exhaust emission and increase productivity of blast furnaces through the reduction of production costs. The project was complex and had high costs, so that it was necessary to predict risk events and plan responses to identified risks at an early stage of implementation, in the course of the project design, in order to minimise losses and implement the project in accordance with the defined time and cost limitations. [Projekat Ministarstva nauke Republike Srbije, br. 179081: Researching contemporary tendencies of strategic management using specialized management disciplines in function of competitiveness of Serbian economy

Consideration of Risk in PPP-Projects

Directory of Open Access Journals (Sweden)

Josef Zimmermann

2014-06-01

Full Text Available Risk management has become a core competence for companies operating in construction services. In particular regarding Real Estate Development and Construction Management the fundamental knowledge and the dedicated ap- plication of risk assessment turn out to be critical. Construction Management deals with a multitude of local and temporal issues which are unknown or only given by statistical evaluation while conducting a unique construction project within a very tight frame of budget and time. Real Estate projects focus on the predictability of profitable operation for a fairly long period in advance and are therefore subject to many more and more voluminous uncertainties. With PPP-projects a more or less complete federal task is awarded to a private company. Its extent varies but com- prises at least design, construction and operation of a real estate project, e.g. a toll road, bridge, tunnel or other infrastructural object. Durations of such contracts of- ten extend to some 20 to 30 years. In this article the applicability of traditional means of risk management is inves- tigated for the use on PPP-projects and limits of risk consequences are pointed out. Finally we come to the conclusion, that the resulting unavertable risks tend to exceed every surcharge that could be successfully placed on a market.

Relacionamento entre gerenciamento de risco e sucesso de projetos Relationship between risk management and project success

Directory of Open Access Journals (Sweden)

Roque Rabechini Junior

2012-01-01

Full Text Available Este trabalho apresenta os resultados de uma pesquisa feita em quatro estados brasileiros sobre adoção de práticas de gerenciamento de riscos em projetos com diferentes tipos de complexidade. A pesquisa de campo envolveu 415 projetos de nove setores econômicos distintos. O material obtido foi coletado por meio de questionário aplicado em gerentes e membros de equipe de projetos. Os resultados mostraram que há impacto significativo e positivo da adoção de práticas de gerenciamento de riscos no sucesso dos projetos. Mostrou também que há dependência entre percepção de sucesso e presença/ausência de gerente de risco, havendo impacto positivo da presença do gerente de risco no sucesso dos projetos. As principais limitações da pesquisa concernem às escolhas metodológicas de amostra não probabilística, empregando questionário baseado na percepção dos respondentes. O trabalho originalmente integra a visão de práticas de gerenciamento de riscos com resultados em projetos, servindo de base para novos estudos em outros setores e áreas de conhecimento de projetos.This paper presents the results of an investigation in four Brazilian States on the adoption of Risk Management practices in projects with different complexity levels. The field research involved 415 projects from nine different economic sectors. Data was gathered through a questionnaire applied to managers and project team members. Results showed that there are significant and positive impacts in the adoption of Risk Management practices on project success. It also showed that there is dependence between perceived success and the presence/absence of a risk manager, i.e., the presence of a risk manager has positive impacts on project success. The major limitation of this study concerns the methodological choice: non-probability sample survey based on respondents perception. The work promotes the integration between Risk Management practices and projects performance

The Challenge of Integrating OHS into Industrial Project Risk Management: Proposal of a Methodological Approach to Guide Future Research (Case of Mining Projects in Quebec, Canada

Directory of Open Access Journals (Sweden)

Adel Badri

2015-06-01

Full Text Available Although risk management tools are put to good use in many industrial sectors, some large projects have been met with numerous problems due to failure to take occupational health and safety (OHS into consideration. In spite of the high level of risk and uncertainty associated with many industrial projects, the number of studies of methods for managing all known risks systematically remains small. Under effervescent economic conditions, industries must meet several challenges associated with frequent project start-ups. In highly complex and uncertain environments, rigorous management of risk remains indispensable for avoiding threats to the success of projects. Many businesses seek continually to create and improve integrated approaches to risk management. This article puts into perspective the complexity of the challenge of integrating OHS into industrial project risk management. A conceptual and methodological approach is proposed to guide future research focused on meeting this challenge. The approach is based on applying multi-disciplinary research modes to a complex industrial context in order to identify all scenarios likely to contain threats to humans or the environment. A case study is used to illustrate the potential of the proposed approach for application and its contribution to meeting the challenge of taking OHS into consideration. On-site researchers were able to develop a new approach that helped two mining companies in Quebec (Canada to achieve successful integration of OHS into expansion projects.

Hanford Tanks Initiative risk management guide

International Nuclear Information System (INIS)

Schaus, P.S.

1997-01-01

This project-specific Risk Management Guide describes the general approach and process being used by the HTI Project to manage risk associated with execution of the HTI mission. It includes the initial identification of risk and the quantification of its likelihood and severity of its consequences. It further addresses the formulation of risk mitigation plans, periodic statusing of the Risk Management List, and risk closure

Risk management, financial evaluation and funding for wastewater and stormwater reuse projects.

Science.gov (United States)

Furlong, Casey; De Silva, Saman; Gan, Kein; Guthrie, Lachlan; Considine, Robert

2017-04-15

This paper has considered risk management, financial evaluation and funding in seven Australian wastewater and stormwater reuse projects. From the investigated case studies it can be seen that responsible parties have generally been well equipped to identify potential risks. In relation to financial evaluation methods some serious discrepancies, such as time periods for analysis, and how stormwater benefits are valued, have been identified. Most of the projects have required external, often National Government, funding to proceed. As National funding is likely to become less common in the future, future reuse projects may need to be funded internally by the water industry. In order to enable this the authors propose that the industry requires (1) a standard project evaluation process, and (2) an infrastructure funders' forum (or committee) with representation from both utilities and regulators, in order to compare and prioritise future reuse projects against each other. Copyright © 2017 Elsevier Ltd. All rights reserved.

Enterprise Content Management Implementation and Risk

Directory of Open Access Journals (Sweden)

Jaroslava Klegová

2015-01-01

Full Text Available Enterprise Content Management (ECM solutions are commonly used in many areas such as document management, record management, digital asset management, etc. Key features of ECM systems are capturing, indexing, preserving and retrieving of digital information. The state-of-the- art ECM solution can help revolutionize document management and further automated business processes which can lead to better decisions and competitive advantage. Risk management can reduce project failure and that is why controlling risk in ECM implementation projects is considered to be a major contributor to project success. To manage software risk, the first step is to identify a list of ECM projects’ risks. The present paper provides an overview of ECM implementation risks and contains findings from a small survey on experience of ECM implementation and risk in Czech enterprises. Risk of implementation in the public sector is discussed more deeply with case study examples.

Network theory-based analysis of risk interactions in large engineering projects

International Nuclear Information System (INIS)

Fang, Chao; Marle, Franck; Zio, Enrico; Bocquet, Jean-Claude

2012-01-01

This paper presents an approach based on network theory to deal with risk interactions in large engineering projects. Indeed, such projects are exposed to numerous and interdependent risks of various nature, which makes their management more difficult. In this paper, a topological analysis based on network theory is presented, which aims at identifying key elements in the structure of interrelated risks potentially affecting a large engineering project. This analysis serves as a powerful complement to classical project risk analysis. Its originality lies in the application of some network theory indicators to the project risk management field. The construction of the risk network requires the involvement of the project manager and other team members assigned to the risk management process. Its interpretation improves their understanding of risks and their potential interactions. The outcomes of the analysis provide a support for decision-making regarding project risk management. An example of application to a real large engineering project is presented. The conclusion is that some new insights can be found about risks, about their interactions and about the global potential behavior of the project. - Highlights: ► The method addresses the modeling of complexity in project risk analysis. ► Network theory indicators enable other risks than classical criticality analysis to be highlighted. ► This topological analysis improves project manager's understanding of risks and risk interactions. ► This helps project manager to make decisions considering the position in the risk network. ► An application to a real tramway implementation project in a city is provided.

The importance of a project level risk management methodology for EU Structural and Investment Funds accession in Romania

Directory of Open Access Journals (Sweden)

Nicolae Ciprian

2017-07-01

Full Text Available Accessing EU funds is considered to be an important development chance for all type of beneficiaries in Romania: public bodies, nongovernmental organizations and firms. The grounds for this are the amount of funds available per beneficiary and the co financing rate (for example, the investment projects for firms amounted up to 5 million Euro of EU funding at a EU co financing rate up to 70%. As the Romanian responsible authorities strive to conduct a fast and smooth process, the reality shows the funds accession is rather unpredictable and costly, both in terms of time consumption and financial resources. Lots of causes contribute to this situation, amongst which the inefficient risk management conducted, both by the state authorities responsible with the EU funds management and by the beneficiaries of funds. The effects are visible: a poor absorption rate of the EU structural and cohesion funds (79,23% at the level of January 2017 for the 2007-2013 financial period. The authors' research follows the importance that risk management should have in the process of managing and accessing EU funds. The research methodology starts from the responses that 170 people involved in managing EU funded projects within 2007-2013 financial period gave to an online questionnaire carried on in 2016. The focus was to establish if and how risk management methodologies/procedures/guidelines were used within the implementation of projects and in what measure this kind of approach should be compulsory or optional for the financial period 2014-2020. The research methodology further implied the analysis of key issues for projects financing such as: feasibility and opportunity determination, budgeting, projects' evaluation, etc. The main finding of the research is that applicants and beneficiaries need to implement project level risk management methodologies. Based on this, the authors propose a guideline for drafting project level risk management methodologies, that

RIMAP demonstration project. Risk-based life management of piping system in power plant Heilbronn

International Nuclear Information System (INIS)

Bareiss, J.; Buck, P.; Matschecko, B.; Jovanovic, A.; Balos, D.; Perunicic, M.

2004-01-01

In the framework of EU project RIMAP [Risk Based Inspection and Maintenance Procedures for European Industry (2000)] a new European Guideline for optimized risk based maintenance and inspection planning of industrial plants (RBLM, Risk Based Life Management) is being developed. The RIMAP project consists of the three clustered projects: - development (RTD); - demonstration (DEMO): - thematic network (TN). Current work and future, planned work in RIMAP demonstration project on applications of the RIMAP methodology in power plants are presented briefly in the first part of the paper. Also presented in the paper are the results of a preliminary analysis of piping system in power plant Heilbronn using the concept of risk-based monitoring as part of overall concept of risk-based life management. Shortly the following issues are discussed in the paper: - identification of critical components; - application of a multilevel risk analysis (...from 'screening' to 'detailed analysis'); - determination of PoF (Probability of Failure); - determination of CoF (Consequence of Failure); - optimation of inspection and maintenance plan. From our experience with the application of the RIMAP methodology the following conclusions can be drawn: The use of risk-based methods in inspection and maintenance of piping systems in power plants gives transparency to the decision making process and gives an optimized maintenance policy based on current state of the components. The results of the work clearly show the power of the proposed method for concentration on critical items: out of 64 monitored components 5 were selected for intermediate analysis and only 1 for the detailed analysis (probabilistic high temperature fracture mechanics)

Earned value project management

CERN Document Server

Fleming, Quentin W

2010-01-01

Organizations that follow the principles of good Earned Value Management (EVM) create an environment that allows teams to successfully operate and thrive ? even in the face of challenges that could negatively impact their projects. Earned Value Project Management (EVPM) is a methodology used to measure and communicate the real physical progress of a project taking into account the work completed, the time taken and the costs incurred to complete that work. As a result, EVPM allows more educated and effective management decision-making, which helps evaluate and control project risk by measuring project progress in monetary terms. In the first two editions of Earned Value Project Management, Quentin W. Fleming and Joel M. Koppelman provided guidance for project management practitioners already familiar with EVPM, was well as those who were new to the use of this technique. The third edition expanded the information available on of EVPM for medium and smaller projects while still being relevant for larger projec...

Does risk management contribute to IT project success? A meta-analysis of empirical evidence

NARCIS (Netherlands)

de Bakker, K.F.C.; Boonstra, A.; Wortmann, J.C.

The question whether risk management contributes to IT project success is considered relevant by people from both academic and practitioners' communities already for a long time. This paper presents a meta-analysis of the empirical evidence that either supports or opposes the claim that risk

MANAGEMENT OF TRANSURANIC (TRU) WASTE RETRIEVAL PROJECT RISKS SUCCESSES IN THE STARTUP OF THE HANFORD 200 AREA TRU WASTE RETRIEVAL PROJECT

International Nuclear Information System (INIS)

GREENWLL, R.D.

2005-01-01

A risk identification and mitigation method applied to the Transuranic (TRU) Waste Retrieval Project performed at the Hanford 200 Area burial grounds is described. Retrieval operations are analyzed using process flow diagramming. and the anticipated project contingencies are included in the Authorization Basis and operational plans. Examples of uncertainties assessed include degraded container integrity, bulged drums, unknown containers, and releases to the environment. Identification and mitigation of project risks contributed to the safe retrieval of over 1700 cubic meters of waste without significant work stoppage and below the targeted cost per cubic meter retrieved. This paper will be of interest to managers, project engineers, regulators, and others who are responsible for successful performance of waste retrieval and other projects with high safety and performance risks

Enhanced Capabilities for Subcritical Experiments (ECSE) Risk Management Plan

Energy Technology Data Exchange (ETDEWEB)

Urban, Mary Elizabeth [Los Alamos National Lab. (LANL), Los Alamos, NM (United States). Process Modeling and Analysis Group

2016-05-02

Risk is a factor, element, constraint, or course of action that introduces an uncertainty of outcome that could impact project objectives. Risk is an inherent part of all activities, whether the activity is simple and small, or large and complex. Risk management is a process that identifies, evaluates, handles, and monitors risks that have the potential to affect project success. The risk management process spans the entire project, from its initiation to its successful completion and closeout, including both technical and programmatic (non-technical) risks. This Risk Management Plan (RMP) defines the process to be used for identifying, evaluating, handling, and monitoring risks as part of the overall management of the Enhanced Capabilities for Subcritical Experiments (ECSE) ‘Project’. Given the changing nature of the project environment, risk management is essentially an ongoing and iterative process, which applies the best efforts of a knowledgeable project staff to a suite of focused and prioritized concerns. The risk management process itself must be continually applied throughout the project life cycle. This document was prepared in accordance with DOE O 413.3B, Program and Project Management for the Acquisition of Capital Assets, its associated guide for risk management DOE G 413.3-7, Risk Management Guide, and LANL ADPM AP-350-204, Risk and Opportunity Management.

NGNP Risk Management Database: A Model for Managing Risk

International Nuclear Information System (INIS)

Collins, John

2009-01-01

To facilitate the implementation of the Risk Management Plan, the Next Generation Nuclear Plant (NGNP) Project has developed and employed an analytical software tool called the NGNP Risk Management System (RMS). A relational database developed in Microsoft(reg s ign) Access, the RMS provides conventional database utility including data maintenance, archiving, configuration control, and query ability. Additionally, the tool's design provides a number of unique capabilities specifically designed to facilitate the development and execution of activities outlined in the Risk Management Plan. Specifically, the RMS provides the capability to establish the risk baseline, document and analyze the risk reduction plan, track the current risk reduction status, organize risks by reference configuration system, subsystem, and component (SSC) and Area, and increase the level of NGNP decision making.

NGNP Risk Management Database: A Model for Managing Risk

Energy Technology Data Exchange (ETDEWEB)

John Collins

2009-09-01

To facilitate the implementation of the Risk Management Plan, the Next Generation Nuclear Plant (NGNP) Project has developed and employed an analytical software tool called the NGNP Risk Management System (RMS). A relational database developed in Microsoft® Access, the RMS provides conventional database utility including data maintenance, archiving, configuration control, and query ability. Additionally, the tool’s design provides a number of unique capabilities specifically designed to facilitate the development and execution of activities outlined in the Risk Management Plan. Specifically, the RMS provides the capability to establish the risk baseline, document and analyze the risk reduction plan, track the current risk reduction status, organize risks by reference configuration system, subsystem, and component (SSC) and Area, and increase the level of NGNP decision making.

Managing the continuum certainty, uncertainty, unpredictability in large engineering projects

CERN Document Server

Caron, Franco

2013-01-01

The brief will describe how to develop a risk analysis applied to a project , through a sequence of steps: risk management planning, risk identification, risk classification, risk assessment, risk quantification, risk response planning, risk monitoring and control, process close out and lessons learning. The project risk analysis and management process will be applied to large engineering projects, in particular related to the oil and gas industry. The brief will address the overall range of possible events affecting the project moving from certainty (project issues) through uncertainty (project risks) to unpredictability (unforeseeable events), considering both negative and positive events. Some quantitative techniques (simulation, event tree, Bayesian inference, etc.) will be used to develop risk quantification. The brief addresses a typical subject in the area of project management, with reference to large engineering projects concerning the realization of large plants and infrastructures. These projects a...

Risk management for noncombustion wastes

International Nuclear Information System (INIS)

Connor, K.K.; Rice, J.S.

1991-01-01

The Noncombustion Waste Risk Management Project is designed to incorporate the insights and information developed in these projects into tools that will help utilities make better noncombustion waste management decisions. Specific project goals are to synthesize information useful to utilities on noncombustion wastes, emphasize waste reduction as a priority over end-of-pipe management, develop methods to manage the costs and risks associated with noncombustion wastes (e.g., direct costs, permitting costs, liability costs, public relations costs), develop software and documentation to deliver the information and analysis methods to the industry. This project was initiated EPRI's Environment Division in late 1988. The early phases of the project involved gathering information on current noncombustion waste management practices, specific utility problems and concerns with respect to these wastes, current and potential future regulations, and current and emerging management options. Recent efforts have focused on characterizing the direct and indirect (e.g., lawsuits, remedial action) costs of managing these wastes and on developing and implementing risk management methods for a subset of wastes. The remainder of this paper describes the specific issues addressed by and the results and insights from the three completed waste-specific studies

The Process of Risk Management for a Project to Extract Shale Gas

Energy Technology Data Exchange (ETDEWEB)

Hurtado, A.; Eguilior, S.; Recreo, F.

2014-07-01

deal. Communication between stake holders throughout the process is a critical element in risk management. Decisions regarding risk issues must strike a balance between the technical aspects of them and the social and moral consequences of the project. (Author)

The Process of Risk Management for a Project to Extract Shale Gas

International Nuclear Information System (INIS)

Hurtado, A.; Eguilior, S.; Recreo, F.

2014-01-01

deal. Communication between stake holders throughout the process is a critical element in risk management. Decisions regarding risk issues must strike a balance between the technical aspects of them and the social and moral consequences of the project. (Author)

An Assessment of risk response strategies practiced in software projects

Directory of Open Access Journals (Sweden)

Vanita Bhoola

2014-11-01

Full Text Available Risk management and success in projects are highly intertwined – better approaches to project risk management tend to increase chances of project success in terms of achieving scope & quality, schedule and cost targets. The process of responding to risk factors during a project’s life cycle is a crucial aspect of risk management referred to as risk response strategies, in this paper. The current research explores the status of risk response strategies applied in the software development projects in India. India provides a young IT-savvy English-speaking population, which is also cost effective. Other than the workforce, the environment for implementation of software projects in India is different from the matured economies. Risk management process is a commonly discussed theme, though its implementation in practice has a huge scope for improvement in India. The paper talks about four fundamental treatments to risk response – Avoidance, Transference, Mitigation and Acceptance (ATMA. From a primary data of 302 project managers, the paper attempts to address the risk response factors that lead to successful achievement of project scope & quality, schedule and cost targets, by using a series of regressions followed with Seemingly Unrelated Regression Equations (SURE modelling. Mitigation emerged as the most significant risk response strategy to achieve project targets. Acceptance, transference, and avoidance of risk were mostly manifested in the forms of transparency in communication across stakeholders, careful study of the nature of risks and close coordination between project team, customers/end-users and top management.

Examination of in-service risk management at the level of the draft project for Cigeo

International Nuclear Information System (INIS)

2014-01-01

This document reports the opinion of the IRSN on the issue of in-service risk management as it appears in the draft project of Cigeo. After having recalled the general context of the ASN request for this opinion, and presented the ANDRA file on in-service risk-management of the draft project for Cigeo, this report describes the underground installation and the different flows during the exploitation phase, and recalls the various evolutions of Cigeo general design from the 2009 file to the draft project. The next part reports the examination by the IRSN of the relevance of the in-service safety approach by the ANDRA. The next chapter reports the examination of the risk analysis made by the ANDRA on radioactive material dissemination, fire (protection measures, ventilation control, case of exothermal reactions), explosion, handling, co-activity, as well as ageing and maintenance of storage components, intervention in accidental and incidental situation and possibility of retrieval of waste packages

Risk management of energy efficiency projects in the industry - sample plant for injecting pulverized coal into the blast furnaces

OpenAIRE

Jovanović Filip P.; Berić Ivana M.; Jovanović Petar M.; Jovanović Aca D.

2016-01-01

This paper analyses the applicability of well-known risk management methodologies in energy efficiency projects in the industry. The possibilities of application of the selected risk management methodology are demonstrated within the project of the plants for injecting pulverized coal into blast furnaces nos. 1 and 2, implemented by the company US STEEL SERBIA d.o.o. in Smederevo. The aim of the project was to increase energy efficiency through the reductio...

Flash flood forecasting, warning and risk management: the HYDRATE project

International Nuclear Information System (INIS)

Borga, M.; Anagnostou, E.N.; Bloeschl, G.; Creutin, J.-D.

2011-01-01

Highlights: → We characterize flash flood events in various regions of Europe. → We provide guidance to improve observations and monitoring of flash floods. → Flash floods are associated to orography and are influenced by initial soil moisture conditions. → Models for flash flood forecasting and flash flood hazard assessment are illustrated and discussed. → We examine implications for flood risk policy and discuss recommendations received from end users. - Abstract: The management of flash flood hazards and risks is a critical component of public safety and quality of life. Flash-floods develop at space and time scales that conventional observation systems are not able to monitor for rainfall and river discharge. Consequently, the atmospheric and hydrological generating mechanisms of flash-floods are poorly understood, leading to highly uncertain forecasts of these events. The objective of the HYDRATE project has been to improve the scientific basis of flash flood forecasting by advancing and harmonising a European-wide innovative flash flood observation strategy and developing a coherent set of technologies and tools for effective early warning systems. To this end, the project included actions on the organization of the existing flash flood data patrimony across Europe. The final aim of HYDRATE was to enhance the capability of flash flood forecasting in ungauged basins by exploiting the extended availability of flash flood data and the improved process understanding. This paper provides a review of the work conducted in HYDRATE with a special emphasis on how this body of research can contribute to guide the policy-life cycle concerning flash flood risk management.

Risk assessment and risk management in managed aquifer recharge

CSIR Research Space (South Africa)

Page, D

2012-06-01

Full Text Available This chapter presents the methodologies used for risk assessment and risk management in MAR in Australia and the European Union, qualitative and quantitative approaches adopted within the RECLAIM Water project and case studies where the outcomes...

Proposal for the risk management implementation phase in oil field development project by adding value on the refurbishment of critical equipment

Directory of Open Access Journals (Sweden)

Hamid Abdul

2017-01-01

Full Text Available Refurbishment process is a conceptual stage in product life cycle. It is utilized in existing equipment in the field by adding value to recondition and repaired equipment. The main interest of this paper is to implement and design risk management implementation phase in oil field development project on the refurbishment of critical equipment in oil and gas industry. This paper is provided base on research and experiences in risk management and learned from practical team in industry which matched by an application in oil field development project in refurbishment of critical equipment. A framework of implementation phase for risk management in oil field development project in refurbishment critical equipment were reviewed and added value on communication skills of the project team to the stakeholder and organization, which support to external body and vice-versa. Risk management framework can be used for reference of refurbishment process with simply process and developed with same concept for the next wide development project in industry.

The Theme of Risk Management

Directory of Open Access Journals (Sweden)

Chua, D. K. H.

2014-07-01

Full Text Available The papers in this issue of the Journal come from different industry sectors, yet there can be a common theme that ties them together. Two of the papers address explicitly the issue of risk management, while the other three may be related to it in different degrees. One of the critical factors for project success is risk identification, as determined by Chua et al. (1999. The importance of risk management cannot be overemphasized. Failure to identify crucial risk elements in a project can lead to significant project failures in terms of cost and schedule.

Survey on the Technology Readiness Level of R and D projects for a Technical Risk Management

International Nuclear Information System (INIS)

Song, S. J.; Chang, J.; Lee, K. Y.

2008-01-01

The purpose of applying the Technology Readiness Level/Design Readiness Level (TRL/DRL) in technical risk management is to make technology assessments, and improve communication among researchers with a consistent, systematic technology readiness Technical risk management for the Nuclear Hydrogen Production project was adopted of experience assessed with Delphi Method from the Next Generation Nuclear Plant(NGNP)of the DOE to improve the poor contactor management of the major projects which experienced cost increases and/or schedule delays in long-term. In the current phase that is doing key technology research and development projects, the technology readiness level was reviewed and applied to the Nuclear Hydrogen Production project to prepare an input for the next design phases. Based on the previous works, pre-conceptional design and key R and D works for the Nuclear Hydrogen Design and Development(NHDD) projects and the results of key research and development projects, the TRL was applied to assess the levels and compared with the advanced design stages of Westinghouse Electric Co. With this process, several issues were identified to apply the design and technology level to the familiar steps of design process and research and development projects. In order to resolve these issues, it is needed to systematically adjust and modify the current process with TRLs

The Professionalization of Risk Management: What Role can the ISO 31000 Risk Management Principles Play?

DEFF Research Database (Denmark)

Olechowski, Alison; Oehmen, Josef; Seering, W.

2016-01-01

an empirical investigation and discussion of the eleven principles of the ISO 31000:2009 Risk Management Standard via a large-scale survey of engineering and product development practitioners. Adhering to the risk management principles at a high level was found to be a significant factor in better reaching......Risk management is increasingly seen as a means of improving the likelihood of success in complex engineering projects. Yet the presence of a legitimacy gap, driven by the lack of empirical validation of published best practices, might explain low adoption of risk management on projects. We present...... cost, schedule, technical and customer targets, in addition to achieving a more stable project execution. This finding suggests that, rather than a single rigid standard or an ever-changing set of detailed methods, the ISO principles have potential to be the basis for our shared understanding of best...

TERMINOLOGY MANAGEMENT FRAMEWORK DEVIATIONS IN PROJECTS

Directory of Open Access Journals (Sweden)

Олена Борисівна ДАНЧЕНКО

2015-05-01

Full Text Available The article reviews new approaches to managing projects deviations (risks, changes, problems. By offering integrated control these parameters of the project and by analogy with medical terminological systems building a new system for managing terminological variations in the projects. With an improved method of triads system definitions are analyzed medical terms that make up terminological basis. Using the method of analogy proposed new definitions for managing deviations in projects. By using triad integrity built a new system triad in project management, which will subsequently also analogous to develop a new methodology of deviations in projects.

Incorporating the Technology Roadmap Uncertainties into the Project Risk Assessment

International Nuclear Information System (INIS)

Bonnema, B.E.

2002-01-01

This paper describes two methods, Technology Roadmapping and Project Risk Assessment, which were used to identify and manage the technical risks relating to the treatment of sodium bearing waste at the Idaho National Engineering and Environmental Laboratory. The waste treatment technology under consideration was Direct Vitrification. The primary objective of the Technology Roadmap is to identify technical data uncertainties for the technologies involved and to prioritize the testing or development studies to fill the data gaps. Similarly, project management's objective for a multi-million dollar construction project includes managing all the key risks in accordance to DOE O 413.3 - ''Program and Project Management for the Acquisition of Capital Assets.'' In the early stages, the Project Risk Assessment is based upon a qualitative analysis for each risk's probability and consequence. In order to clearly prioritize the work to resolve the technical issues identified in the Technology Roadmap, the issues must be cross- referenced to the project's Risk Assessment. This will enable the project to get the best value for the cost to mitigate the risks

Effect of risk aversion on prioritizing conservation projects.

Science.gov (United States)

Tulloch, Ayesha I T; Maloney, Richard F; Joseph, Liana N; Bennett, Joseph R; Di Fonzo, Martina M I; Probert, William J M; O'Connor, Shaun M; Densem, Jodie P; Possingham, Hugh P

2015-04-01

Conservation outcomes are uncertain. Agencies making decisions about what threat mitigation actions to take to save which species frequently face the dilemma of whether to invest in actions with high probability of success and guaranteed benefits or to choose projects with a greater risk of failure that might provide higher benefits if they succeed. The answer to this dilemma lies in the decision maker's aversion to risk--their unwillingness to accept uncertain outcomes. Little guidance exists on how risk preferences affect conservation investment priorities. Using a prioritization approach based on cost effectiveness, we compared 2 approaches: a conservative probability threshold approach that excludes investment in projects with a risk of management failure greater than a fixed level, and a variance-discounting heuristic used in economics that explicitly accounts for risk tolerance and the probabilities of management success and failure. We applied both approaches to prioritizing projects for 700 of New Zealand's threatened species across 8303 management actions. Both decision makers' risk tolerance and our choice of approach to dealing with risk preferences drove the prioritization solution (i.e., the species selected for management). Use of a probability threshold minimized uncertainty, but more expensive projects were selected than with variance discounting, which maximized expected benefits by selecting the management of species with higher extinction risk and higher conservation value. Explicitly incorporating risk preferences within the decision making process reduced the number of species expected to be safe from extinction because lower risk tolerance resulted in more species being excluded from management, but the approach allowed decision makers to choose a level of acceptable risk that fit with their ability to accommodate failure. We argue for transparency in risk tolerance and recommend that decision makers accept risk in an adaptive management

Enhanced project management tool

Science.gov (United States)

Hsu, Chen-Jung (Inventor); Patel, Hemil N. (Inventor); Maluf, David A. (Inventor); Moh Hashim, Jairon C. (Inventor); Tran, Khai Peter B. (Inventor)

2012-01-01

A system for managing a project that includes multiple tasks and a plurality of workers. Input information includes characterizations based upon a human model, a team model and a product model. Periodic reports, such as one or more of a monthly report, a task plan report, a schedule report, a budget report and a risk management report, are generated and made available for display or further analysis or collection into a customized report template. An extensible database allows searching for information based upon context and upon content. Seven different types of project risks are addressed, including non-availability of required skill mix of workers. The system can be configured to exchange data and results with corresponding portions of similar project analyses, and to provide user-specific access to specified information.

Method ranks competing projects by priorities, risk

International Nuclear Information System (INIS)

Moeckel, D.R.

1993-01-01

A practical, objective guide for ranking projects based on risk-based priorities has been developed by Sun Pipe Line Co. The deliberately simple system guides decisions on how to allocate scarce company resources because all managers employ the same criteria in weighing potential risks to the company versus benefits. Managers at all levels are continuously having to comply with an ever growing amount of legislative and regulatory requirements while at the same time trying to run their businesses effectively. The system primarily is designed for use as a compliance oversight and tracking process to document, categorize, and follow-up on work concerning various issues or projects. That is, the system consists of an electronic database which is updated periodically, and is used by various levels of management to monitor progress of health, safety, environmental and compliance-related projects. Criteria used in determining a risk factor and assigning a priority also have been adapted and found useful for evaluating other types of projects. The process enables management to better define potential risks and/or loss of benefits that are being accepted when a project is rejected from an immediate work plan or budget. In times of financial austerity, it is extremely important that the right decisions are made at the right time

Evolution of project management research: a bibliometric study of International Journal of Project Management

Directory of Open Access Journals (Sweden)

Fábio Cocchi da Silva Eiras

2017-03-01

Full Text Available Over the past decades, the project management field has evolved and consolidated. Facing this growth, this research aims to identify the main trends of research in the area, as well as providing an overview of publications, identifying new issues, changes in approaches and the development of knowledge areas. To do so, a systematic review of the literature was performed with the use of bibliometric study in the papers of the International Journal of Project Management (IJPM, included in SCOPUS, from its first volume to 2015, covering a period of more than 30 years. It was found that developing countries are increasingly concerned in developing research into the field of project management, especially in mega infrastructure projects and public-private partnerships. The risk is a central topic in all periods of analysis, however, the strategic topics such as success in project and portfolio management are among the fastest growing. Issues related to the soft side of project management as skills, culture, and knowledge management have emerged in recent periods. According to the industry, construction projects and projects in information technology are the most studied along the period analysed.

Next Generation Nuclear Plant Project Preliminary Project Management Plan

International Nuclear Information System (INIS)

Dennis J. Harrell

2006-01-01

This draft preliminary project management plan presents the conceptual framework for the Next Generation Nuclear Plant (NGNP) Project, consistent with the authorization in the Energy Policy Act of 2005. In developing this plan, the Idaho National Laboratory has considered three fundamental project planning options that are summarized in the following section. Each of these planning options is literally compliant with the Energy Policy Act of 2005, but each emphasizes different approaches to technology development risks, design, licensing and construction risks, and to the extent of commercialization support provided to the industry. The primary focus of this draft preliminary project management plan is to identify those activities important to Critical Decision-1, at which point a decision on proceeding with the NGNP Project can be made. The conceptual project framework described herein is necessary to establish the scope and priorities for the technology development activities. The framework includes: A reference NGNP prototype concept based on what is judged to be the lowest risk technology development that would achieve the needed commercial functional requirements to provide an economically competitive nuclear heat source and hydrogen production capability. A high-level schedule logic for design, construction, licensing, and acceptance testing. This schedule logic also includes an operational shakedown period that provides proof-of-principle to establish the basis for commercialization decisions by end-users. An assessment of current technology development plans to support Critical Decision-1 and overall project progress. The most important technical and programmatic uncertainties (risks) are evaluated, and potential mitigation strategies are identified so that the technology development plans may be modified as required to support ongoing project development. A rough-order-of-magnitude cost evaluation that provides an initial basis for budget planning. This

Project Scheduling Based on Risk of Gas Transmission Pipe

Science.gov (United States)

Silvianita; Nurbaity, A.; Mulyadi, Y.; Suntoyo; Chamelia, D. M.

2018-03-01

The planning of a project has a time limit on which must be completed before or right at a predetermined time. Thus, in a project planning, it is necessary to have scheduling management that is useful for completing a project to achieve maximum results by considering the constraints that will exists. Scheduling management is undertaken to deal with uncertainties and negative impacts of time and cost in project completion. This paper explains about scheduling management in gas transmission pipeline project Gresik-Semarang to find out which scheduling plan is most effectively used in accordance with its risk value. Scheduling management in this paper is assissted by Microsoft Project software to find the critical path of existing project scheduling planning data. Critical path is the longest scheduling path with the fastest completion time. The result is found a critical path on project scheduling with completion time is 152 days. Furthermore, the calculation of risk is done by using House of Risk (HOR) method and it is found that the critical path has a share of 40.98 percent of all causes of the occurence of risk events that will be experienced.

Lessons Learned in Risk Management on NCSX

International Nuclear Information System (INIS)

Neilson, G.H.; Gruber, C.O.; Harris, Jeffrey H.; Rej, D.J.; Simmons, R.T.; Strykowsky, R.L.

2010-01-01

The National Compact Stellarator Experiment (NCSX) was designed to test physics principles of an innovative stellarator design developed by Princeton Plasma Physics Laboratory and Oak Ridge National Laboratory. Construction of some of the major components and subassemblies was completed, but the estimated cost and schedule for completing the project grew as the technical requirements and risks became better understood, leading to its cancellation in 2008. The project's risks stemmed from its technical challenges, primarily the complex component geometries and tight tolerances that were required. The initial baseline, which was established in 2004, was supported by a risk management plan and risk-based contingencies, both of which proved to be inadequate. Technical successes were achieved in the construction of challenging components and subassemblies, but cost and schedule growth was experienced. As part of an effort to improve project performance, a new risk management program was devised and implemented in 2007-2008. It led to a better understanding of project risks, a sounder basis for contingency estimates, and improved management tools. Although the risks were ultimately unacceptable to the sponsor, valuable lessons in risk management were learned through the experiences with the NCSX project.

Lessons Learned in Risk Management on NCSX

International Nuclear Information System (INIS)

Neilson, G.H.; Gruber, C.O.; Harris, J.H.; Rej, D.J.; Simmons, R.T.; Strykowsky, R.L.

2009-01-01

The National Compact Stellarator Experiment (NCSX) was designed to test physics principles of an innovative stellarator design developed by the Princeton Plasma Physics Laboratory and Oak Ridge National Laboratory. Construction of some of the major components and sub-assemblies was completed, but the estimated cost and schedule for completing the project grew as the technical requirements and risks became better understood, leading to its cancellation in 2008. The project's risks stemmed from its technical challenges, primarily the complex component geometries and tight tolerances that were required. The initial baseline, established in 2004, was supported by a risk management plan and risk-based contingencies, both of which proved to be inadequate. Technical successes were achieved in the construction of challenging components and subassemblies, but cost and schedule growth was experienced. As part of an effort to improve project performance, a new risk management program was devised and implemented in 2007-08. It led to a better understanding of project risks, a sounder basis for contingency estimates, and improved management tools. Although the risks ultimately were unacceptable to the sponsor, valuable lessons in risk management were learned through the experiences with the NCSX project

Managing Programmatic Risk for Complex Space System Developments

Science.gov (United States)

Panetta, Peter V.; Hastings, Daniel; Brumfield, Mark (Technical Monitor)

2001-01-01

Risk management strategies have become a recent important research topic to many aerospace organizations as they prepare to develop the revolutionary complex space systems of the future. Future multi-disciplinary complex space systems will make it absolutely essential for organizations to practice a rigorous, comprehensive risk management process, emphasizing thorough systems engineering principles to succeed. Project managers must possess strong leadership skills to direct high quality, cross-disciplinary teams for successfully developing revolutionary space systems that are ever increasing in complexity. Proactive efforts to reduce or eliminate risk throughout a project's lifecycle ideally must be practiced by all technical members in the organization. This paper discusses some of the risk management perspectives that were collected from senior managers and project managers of aerospace and aeronautical organizations by the use of interviews and surveys. Some of the programmatic risks which drive the success or failure of projects are revealed. Key findings lead to a number of insights for organizations to consider for proactively approaching the risks which face current and future complex space systems projects.

Investigation of risk management auditing

International Nuclear Information System (INIS)

Cao Lu

2012-01-01

2004, COSO published 'Enterprise Risk Management Framework', 2009, SASAC issued the 'central enterprise-wide risk management guidelines' to promote risk management within the formal state-owned enterprises in medium and large. Nuclear Group, which risk management in all branches to carry out the project homeopathic, and A Ⅱ will carry out risk management program as the first unit has accumulated more experience. This article from the perspective of internal control, based on the company's risk management practices carried out to try for the nuclear power enterprise risk management audit to describe and propose new ideas. Which expounds the significance of risk management, audit, risk management audit of the ways and means, for practical application of risk management audit of a representative summary of the issues and the ways and means to solve the problem of forward-looking recommendations. (authors)

Integrated Waste Treatment Unit GFSI Risk Management Plan

International Nuclear Information System (INIS)

W. A. Owca

2007-01-01

This GFSI Risk Management Plan (RMP) describes the strategy for assessing and managing project risks for the Integrated Waste Treatment Unit (IWTU) that are specifically within the control and purview of the U.S. Department of Energy (DOE), and identifies the risks that formed the basis for the DOE contingency included in the performance baseline. DOE-held contingency is required to cover cost and schedule impacts of DOE activities. Prior to approval of the performance baseline (Critical Decision-2) project cost contingency was evaluated during a joint meeting of the Contractor Management Team and the Integrated Project Team for both contractor and DOE risks to schedule and cost. At that time, the contractor cost and schedule risk value was $41.3M and the DOE cost and schedule risk contingency value is $39.0M. The contractor cost and schedule risk value of $41.3M was retained in the performance baseline as the contractor's management reserve for risk contingency. The DOE cost and schedule risk value of $39.0M has been retained in the performance baseline as the DOE Contingency. The performance baseline for the project was approved in December 2006 (Garman 2006). The project will continue to manage to the performance baseline and change control thresholds identified in PLN-1963, ''Idaho Cleanup Project Sodium-Bearing Waste Treatment Project Execution Plan'' (PEP)

Projects management in organization on the selected example

OpenAIRE

A. Kania; M. Spilka; S. Griner

2013-01-01

Purpose: In this paper stages of project management taking into consideration many useful tools and methods were presented. The quality management in the project, the risk estimation, costs of the project realization and many others were discussed. The analysis of project management of an element using in an automotive industry was carried out.Design/methodology/approach: In this article classification of the projects was presented. The stages of project management and relations among them we...

Software project management in a changing world

CERN Document Server

Ruhe, Günther

2014-01-01

By bringing together various current direc­tions, Software Project Management in a Changing World focuses on how people and organizations can make their processes more change-adaptive. The selected chapters closely correspond to the project management knowledge areas introduced by the Project Management Body of Knowledge, including its extension for managing software projects. The contributions are grouped into four parts, preceded by a general introduction. Part I "Fundamentals" provides in-depth insights into fundamental topics including resource allocation, cost estimation and risk manage

Risk variables in evaluation of transport projects

Science.gov (United States)

Vařbuchta, Petr; Kovářová, Hana; Hromádka, Vít; Vítková, Eva

2017-09-01

Depending on the constantly increasing demands on assessment of investment projects, especially assessment of large-scale projects in transport and important European projects with wide impacts, there is constantly increasing focus on risk management, whether to find mitigations, creating corrective measures or their implementation in assessment, especially in the context of Cost-Benefit analysis. To project assessment is often used implementation of certain risk variables, which can generate negative impacts of project outputs in framework of assess. Especially in case of transportation infrastructure projects is taken much emphasis on the influence of risk variables. However, currently in case of assessment of transportation projects is in Czech Republic used a few risk variables, which occur in the most projects. This leads to certain limitation in framework of impact assessment of risk variables. This papers aims to specify a new risk variables and process of applying them to already executed project assessment. Based on changes generated by new risk variables will be evaluated differences between original and adapted assessment.

The ComSoc guide to managing telecommunications projects

CERN Document Server

Desmond, Celia

2010-01-01

"This pocket guide provides an overview of the telecommunications environment as it has evolved over the past few years, illustrating the need for project management, the significance of project success to the companies, and the application of key project management processes within the telecom environment. Topics covered include: scope management, time management, cost management, procurement management, risk management, communications, quality, human resources, and Integration. It offers professionals a brief and accessible guide to managing telecommunication projects in the 21st century"--

The Swiss Virtual Campus Project NAHRIS: Experiences from a Multidisciplinary E-Learning Project in the Natural Hazard and Risk Management Domain

Science.gov (United States)

Lienert, Christophe; Bischof, Nicole; Hurni, Lorenz

2009-01-01

The overall goal of the Swiss Virtual Campus project Dealing with Natural Hazards and Risk (NAHRIS) is to create a common educational course program that compiles the most recent knowledge in the field of natural hazards and risk management. Several higher education institutes from all parts of Switzerland were involved in the realization of this…

Issues and measures in the design process from the perspective of risk management of construction projects. study of power plant construction projects accident cases

International Nuclear Information System (INIS)

Iwahara, Hirohiko; Shiraki, Wataru; Inomo, Hitoshi; Hasegawa, Syuichi

2015-01-01

Construction of power plants, foundation work, consisting of a wide variety of construction work, such as plant equipment work. And, civil engineering, technician electrical such as different engineering field, is a comprehensive construction project that works for the design conditions of the structure. However, if the cooperation design conditions is not sufficient, as a construction project, the optimal structures may not be said to have been built. As a result, total cost or increased, including the initial cost of the end construction projects, it is be a cause of the accident. Previous studies, plant equipment construction, is related to safety management and risk of foundation work such as individual construction were many. In this paper, as an example the power plant construction, and performs the following discussion from the point of view of risk management of large-scale construction projects that these individual construction work together with each other. The importance of design conditions cooperation, (1) 'Challenges and countermeasures of ordering method of construction projects', to verify from the (2) 'actually happened substation foundation displacement accident'. And on whether or not the construction project order institutions can be involved in the design from the site preparation stage, we study (3) for 'construction work scope and risk control the construction project ordering institutions to implement' the risk to the natural disaster (earthquake). From these, we describe the challenges and measures in the construction project of the design process. (author)

Application of Risk Assessment Tools in the Continuous Risk Management (CRM) Process

Science.gov (United States)

Ray, Paul S.

2002-01-01

Marshall Space Flight Center (MSFC) of the National Aeronautics and Space Administration (NASA) is currently implementing the Continuous Risk Management (CRM) Program developed by the Carnegie Mellon University and recommended by NASA as the Risk Management (RM) implementation approach. The four most frequently used risk assessment tools in the center are: (a) Failure Modes and Effects Analysis (FMEA), Hazard Analysis (HA), Fault Tree Analysis (FTA), and Probabilistic Risk Analysis (PRA). There are some guidelines for selecting the type of risk assessment tools during the project formulation phase of a project, but there is not enough guidance as to how to apply these tools in the Continuous Risk Management process (CRM). But the ways the safety and risk assessment tools are used make a significant difference in the effectiveness in the risk management function. Decisions regarding, what events are to be included in the analysis, to what level of details should the analysis be continued, make significant difference in the effectiveness of risk management program. Tools of risk analysis also depends on the phase of a project e.g. at the initial phase of a project, when not much data are available on hardware, standard FMEA cannot be applied; instead a functional FMEA may be appropriate. This study attempted to provide some directives to alleviate the difficulty in applying FTA, PRA, and FMEA in the CRM process. Hazard Analysis was not included in the scope of the study due to the short duration of the summer research project.

Designing an integrated model based on the indicators Quality and Earned Value for risk management in Information Technology Projects

OpenAIRE

TATLARI, Mohammad Reza; KAZEMİPOOR, Hamed

2015-01-01

There are two effective factors on Information Technology (IT) projects risk including quality and earned value so that by controlling these two factors and their increased level in IT projects, the corresponding risk can be decreased. Therefore in present study, an integrated model was designed based on quality and earned value indicators for risk management in IT projects on a new and efficient approach. The proposed algorithm included the steps such as preparing a list of several indicator...

Dealing with project complexity by matrix-based propagation modelling for project risk analysis

OpenAIRE

Fang , Chao; Marle , Franck

2012-01-01

International audience; Engineering projects are facing a growing complexity and are thus exposed to numerous and interdependent risks. In this paper, we present a quantitative method for modelling propagation behaviour in the project risk network. The construction of the network requires the involvement of the project manager and related experts using the Design Structure Matrix (DSM) method. A matrix-based risk propagation model is introduced to calculate risk propagation and thus to re-eva...

Tank waste remediation system programmatic risk management plan

International Nuclear Information System (INIS)

Seaver, D.A.

1995-01-01

This risk management plan defines the approach to be taken to managing risks in the Tank Waste Remediation System (TWRS) program. It defines the actions to be taken at the overall program level, and the risk management requirements for lower-level projects and other activities. The primary focus of this plan is on ''programmatic'' risks, i.e., risks with respect to the cost, schedule, and technical performance of the program. The plan defines an approach providing managers with the flexibility to manage risks according to their specific needs, yet creates. The consistency needed for effectiveness across the program. The basic risk management approach uses a risk management list for the program, each project, and additional lower-level activities. The risk management list will be regularly reviewed and updated by appropriate level of management. Each list defines key risks, their likelihood and consequences, risk management actions to be taken, responsible individuals, and other management information

From volatility to value: analysing and managing financial and performance risk in energy savings projects

International Nuclear Information System (INIS)

Mills, Evan; Kromer, Steve; Weiss, Gary; Mathew, Paul A.

2006-01-01

Many energy-related investments are made without a clear financial understanding of their values, risks, and volatilities. In the face of this uncertainty, the investor-such as a building owner or an energy service company-will often choose to implement only the most certain and thus limited energy-efficiency measures. Conversely, commodities traders and other sophisticated investors accustomed to evaluating investments on a value, risk, and volatility basis often overlook energy-efficiency investments because risk and volatility information are not provided. Fortunately, energy-efficiency investments easily lend themselves to such analysis using tools similar to those applied to supply side risk management. Accurate and robust analysis demands a high level of understanding of the physical aspects of energy-efficiency, which enables the translation of physical performance data into the language of investment. With a risk management analysis framework in place, the two groups-energy-efficiency experts and investment decision-makers-can exchange the information they need to expand investment in demand-side energy projects. In this article, we first present the case for financial risk analysis in energy efficiency in the buildings sector. We then describe techniques and examples of how to identify, quantify, and manage risk. Finally, we describe emerging market-based opportunities in risk management for energy efficiency

Methodologies used in Project Management

OpenAIRE

UNGUREANU, Adrian; UNGUREANU, Anca

2014-01-01

Undoubtedly, a methodology properly defined and strictly followed for project management provides a firm guarantee that the work will be done on time, in budget and according to specifications. A project management methodology in simple terms is a “must-have” to avoid failure and reduce risks, because is one of the critical success factors, such basic skills of the management team. This is the simple way to guide the team through the design and execution phases, processes and tasks throughout...

Identifying and managing risk in international construction projects

Directory of Open Access Journals (Sweden)

Sachin Kerur

2012-04-01

Full Text Available Over the last decade, major construction projects have increasingly arisen in countries or regions that lack specialist, expert construction contractors, suppliers and consultants. Steps are being taken by governments in the Middle East, Eastern Europe, China, India and developing markets to address national infrastructure deficits, and by so doing, are creating new regions of booming construction demand. When coupled with anaemic growth in developed markets such as the United Kingdom, the USA and Western Europe, foreign markets present attractive opportunities to the global construction industry. However, foreign markets are littered with the cautionary tales of international contractors and consultants that have failed to grasp the intricacies and risks of operating in a new environment and have failed to capitalise on the opportunities available. By identifying the classes of risks, and undertaking detailed analysis, ranking and mitigation of relevant jurisdictional risks, participants in international construction projects will increase the likelihood of project success and commercial longevity in the new jurisdiction. Risk identification and assessment is not a science but an art, and while there are many potential approaches to the issue, we propose that our strategies for identifying, assessing, ranking and mitigating jurisdictional risks offer new international players a good chance of commercial success.

Managing a complex project using a risk-risk multiple domain matrix

International Nuclear Information System (INIS)

Pointurier, C.; Marle, F.; Jaber, H.

2014-01-01

This communication aims at presenting a clustering methodology applied to a complex project consisting of the delivery of three interdependent subsystems. This enables small and complementary task forces to be constituted, enhancing the communication and coordination on transverse issues related to the complexity of the whole system. The problem is to gather and exploit data for such systems, with numerous and heterogeneous risks of different domains (product, process, organization). The method consists in regrouping actors through the clustering of the risks they own. The result is a highlight on important and transverse risk interdependencies, within and between projects. These should not be neglected in order to avoid potential severe issues, whether during the project or during the exploitation of its deliverable. An application on a real program of plant implementation in the CEA-DAM is presented, with a sensitivity analysis of the clustering results to the inputs and chosen configurations of the problem. (authors)

ANALYSIS OF ECONOMIC RISK IN EUROPEAN INVESTMENT PROJECTS

Directory of Open Access Journals (Sweden)

Margareta Stela FLORESCU

2012-06-01

Full Text Available Risk is a reality of the economic environment, with consequences which cannot always be foreseen or anticipated. Risk management becomes more stringent as potential exo/endogenous vulnerability factors are rapidly increasing. Identifying risk areas, structuring risk factors and defining their probability, optimal management of resources in order to reduce risk factors, creating alternatives for each high-probability risk factor are part of project risk management. Risk is quantified through probability and incidence and is assessed using quantitative and qualitative methods.

Risk analysis in the management of urban construction projects from the perspective of the employer and the contractor

Directory of Open Access Journals (Sweden)

Mohammad Taghipour

2015-12-01

Full Text Available Imbalance between anticipated and actual progress in the development of urban construction projects suggests that there are many obstacles and risks which not only causes the urban management be unsustainable, but the reconstruction and development of urban space is also seriously threatened. In this study, the library research on issues related to the risk of construction projects was done, then some interviews were conducted with experts and managers informed and involved in the projects, and finally questionnaires were distributed to identify and classify the impact of the risks of the implementation of the construction projects. After analyzing the data, the results indicated that the experts listed the most significant risks as the delays in the payment of contractors' claims and statements due to the lack of handling financial instruments, the governance of relationships rather than rules in the tenders resulting from employer actions, low commitment to the quality of work provided by their subcontractors, failure to complete the detail engineering by foreign contractors on time, weaknesses in contractors' financial resources, and offering lower prices than reasonable by contractors to win the tender. All of these require special attention and other kinds of risks are important at the next level. Finally, the solutions for eliminating or reducing risks in high-risk areas have been offered to provide tranquility for contractors and employers.

The NASA Continuous Risk Management Process

Science.gov (United States)

Pokorny, Frank M.

2004-01-01

As an intern this summer in the GRC Risk Management Office, I have become familiar with the NASA Continuous Risk Management Process. In this process, risk is considered in terms of the probability that an undesired event will occur and the impact of the event, should it occur (ref., NASA-NPG: 7120.5). Risk management belongs in every part of every project and should be ongoing from start to finish. Another key point is that a risk is not a problem until it has happened. With that in mind, there is a six step cycle for continuous risk management that prevents risks from becoming problems. The steps are: identify, analyze, plan, track, control, and communicate & document. Incorporated in the first step are several methods to identify risks such as brainstorming and using lessons learned. Once a risk is identified, a risk statement is made on a risk information sheet consisting of a single condition and one or more consequences. There can also be a context section where the risk is explained in more detail. Additionally there are three main goals of analyzing a risk, which are evaluate, classify, and prioritize. Here is where a value is given to the attributes of a risk &e., probability, impact, and timeframe) based on a multi-level classification system (e.g., low, medium, high). It is important to keep in mind that the definitions of these levels are probably different for each project. Furthermore the risks can be combined into groups. Then, the risks are prioritized to see what risk is necessary to mitigate first. After the risks are analyzed, a plan is made to mitigate as many risks as feasible. Each risk should be assigned to someone in the project with knowledge in the area of the risk. Then the possible approaches to choose from are: research, accept, watch, or mitigate. Next, all risks, mitigated or not, are tracked either individually or in groups. As the plan is executed, risks are re-evaluated, and the attribute values are adjusted as necessary. Metrics

PROJECT APPROACH TO ENERGY MANAGEMENT

Directory of Open Access Journals (Sweden)

Інга Борисівна СЕМКО

2016-02-01

Full Text Available Project management is widely used around the world as a tool to improve business performance. Correct implementation of the program of implementation of energy efficiency is accompanied by the adoption of an appropriate legislative framework, support programs, the approval of market-based instruments. Currently, it is paying enough attention to the effective application of market-based instruments, although most of the activities in the field of energy efficiency from the economic side are quite profitable. The authors suggested the use of the methodology of project management to the management of energy-saving measures, new approaches to the place and role of project management in the hierarchy of guidance. As a result, this innovation can improve the competitiveness of enterprises. The conclusions that the energy-saving project management allows you to get the best results for their implementation by reducing the time, resources, risk reduction.

Risk Factors in ERP Implementation Projects for Process Oriented

Directory of Open Access Journals (Sweden)

Andrzej Partyka

2009-09-01

Full Text Available This paper present review and analysis of risk factors, which could affect successful implementation of ERP system, for project performed in project oriented organizations. Presented risk breakdown structure and the list of common risk factors, are well-suited for ERP implementation projects. Considered risk categories allow for complex risk analysis. Additionally, mapping of risk importance for particular implementation phases is presented. Making presented model an important input for project risk management process, especially for the beginning phases which require identification of risk factors.

Effective Risk Management in Innovative Projects: A Case Study of the Construction of Energy-efficient, Sustainable Building of the Laboratory of Intelligent Building in Cracow

Science.gov (United States)

Krechowicz, Maria

2017-10-01

Many construction projects fail to meet deadlines or they exceed the assumed budget. This scenario is particularly common in the case of innovative projects, in which too late identification of a high risk of delays and exceeding the assumed costs makes a potentially profitable project untenable. A high risk level, far exceeding the level of risk in standard non-innovative projects, is a characteristic feature of the realization phase of innovative projects. This is associated not only with greater complexity of the design and construction phases, but also with the problems with application of new technologies and prototype solutions, lack of qualified personnel with suitable expertise in specialized areas, and with the ability to properly identify the gaps between available and required knowledge and skills. This paper discusses the process of effective risk management in innovative projects on the example of the realization phase of an innovative, energy-efficient and sustainable building of the Laboratory of Intelligent Building in Cracow - DLJM Lab, from the point of view of DORBUD S.A., its general contractor. In this paper, a new approach to risk management process for innovative construction projects is proposed. Risk management process was divided into five stages: gathering information, identification of the important unwanted events, first risk assessment, development and choice of risk reaction strategies, assessment of the residual risk after introducing risk reactions. 18 unwanted events in an innovative construction project were identified. The first risk assessment was carried out using two-parametric risk matrix, in which the probability of unwanted event occurrence and its consequences were analysed. Three levels of risks were defined: tolerable, controlled and uncontrolled. Risk reactions to each defined unwanted event were developed. The following risk reaction types were considered: risk retention, risk reduction, risk transfer and risk

SYSTEM DYNAMICS OF MANAGEMENT OF "UNFORESEEN CIRCUMSTANCES" OF THE PROJECT

OpenAIRE

Богдан Владимирович ГАЙДАБРУС; Евгений Анатольевич ДРУЖИНИН

2015-01-01

Approaches for project contingency management through risk management and influence of stakeholders. Proposed system dynamic contingency project management model. The model describes the effects of various factors on the phase of project management through contingency.

A review on disaster risk mitigation in the oil and gas project

Science.gov (United States)

Rodhi, N. N.; Anwar, N.; Wiguna, I. P. A.

2018-01-01

In addition to the very complex risks, hazards potentially lead to disasters in the oil and gas projects. These risks can certainly be anticipated with the application of risk management, but an unsystematic and ineffective implementation of risk management will still bring adverse impacts. According to the eleven risk management principles in ISO 31000:2009, the application of risk management must pay attention to all aspects, both internal and external factors. Thus, this paper aims to identify variables that could affect the disaster mitigation efforts of oil and gas projects. This research began with literature study to determine the problems of risk management in oil and gas projects, so the affecting variables as the study objectives can be specified subsequently based on the literature review as well. The variables that must be considered in the efforts of disaster risk mitigation of oil and gas project are the risk factors and sustainability aspect.

Research on Investment Risk Management of Chinese Prefabricated Construction Projects Based on a System Dynamics Model

Directory of Open Access Journals (Sweden)

Ming Li

2017-09-01

Full Text Available Prefabricated construction, a new direction for the future development of the Chinese construction industry, can maximize the requirements of “green”. As a new form of green building, prefabricated construction is of particular interest. On account of the immature development of the green building market in China, the investment risk for prefabricated construction is higher than for traditional architecture. Hence, it is especially important to improve its investment risk identification and management. This study adopts system dynamics and builds a risk identification feedback chart and risk flow chart, to comprehensively identify investment risks that projects in China may face and to process quantitative estimation of investment risk factors. Key factors influencing project investment risks are found, and corresponding measures are pointedly proposed. This paper may provide guidance and a reference for promoting the sound development of prefabricated construction in China.

Continuous Risk Management: A NASA Program Initiative

Science.gov (United States)

Hammer, Theodore F.; Rosenberg, Linda

1999-01-01

NPG 7120.5A, "NASA Program and Project Management Processes and Requirements" enacted in April, 1998, requires that "The program or project manager shall apply risk management principles..." The Software Assurance Technology Center (SATC) at NASA GSFC has been tasked with the responsibility for developing and teaching a systems level course for risk management that provides information on how to comply with this edict. The course was developed in conjunction with the Software Engineering Institute at Carnegie Mellon University, then tailored to the NASA systems community. This presentation will briefly discuss the six functions for risk management: (1) Identify the risks in a specific format; (2) Analyze the risk probability, impact/severity, and timeframe; (3) Plan the approach; (4) Track the risk through data compilation and analysis; (5) Control and monitor the risk; (6) Communicate and document the process and decisions.

Risk assessment for construction projects of transport infrastructure objects

Science.gov (United States)

Titarenko, Boris

2017-10-01

The paper analyzes and compares different methods of risk assessment for construction projects of transport objects. The management of such type of projects demands application of special probabilistic methods due to large level of uncertainty of their implementation. Risk management in the projects requires the use of probabilistic and statistical methods. The aim of the work is to develop a methodology for using traditional methods in combination with robust methods that allow obtaining reliable risk assessments in projects. The robust approach is based on the principle of maximum likelihood and in assessing the risk allows the researcher to obtain reliable results in situations of great uncertainty. The application of robust procedures allows to carry out a quantitative assessment of the main risk indicators of projects when solving the tasks of managing innovation-investment projects. Calculation of damage from the onset of a risky event is possible by any competent specialist. And an assessment of the probability of occurrence of a risky event requires the involvement of special probabilistic methods based on the proposed robust approaches. Practice shows the effectiveness and reliability of results. The methodology developed in the article can be used to create information technologies and their application in automated control systems for complex projects.

Process simulation and parametric modeling for strategic project management

CERN Document Server

Morales, Peter J

2013-01-01

Process Simulation and Parametric Modeling for Strategic Project Management will offer CIOs, CTOs and Software Development Managers, IT Graduate Students an introduction to a set of technologies that will help them understand how to better plan software development projects, manage risk and have better insight into the complexities of the software development process.A novel methodology will be introduced that allows a software development manager to better plan and access risks in the early planning of a project.  By providing a better model for early software development estimation and softw

Project management tool

Science.gov (United States)

Maluf, David A. (Inventor); Bell, David G. (Inventor); Gurram, Mohana M. (Inventor); Gawdiak, Yuri O. (Inventor)

2009-01-01

A system for managing a project that includes multiple tasks and a plurality of workers. Input information includes characterizations based upon a human model, a team model and a product model. Periodic reports, such as a monthly report, a task plan report, a budget report and a risk management report, are generated and made available for display or further analysis. An extensible database allows searching for information based upon context and upon content.

SYSTEM DYNAMICS OF MANAGEMENT OF "UNFORESEEN CIRCUMSTANCES" OF THE PROJECT

Directory of Open Access Journals (Sweden)

Богдан Владимирович ГАЙДАБРУС

2015-05-01

Full Text Available Approaches for project contingency management through risk management and influence of stakeholders. Proposed system dynamic contingency project management model. The model describes the effects of various factors on the phase of project management through contingency.

Managing information technology security risk

Science.gov (United States)

Gilliam, David

2003-01-01

Information Technology (IT) Security Risk Management is a critical task for the organization to protect against the loss of confidentiality, integrity and availability of IT resources. As systems bgecome more complex and diverse and and attacks from intrusions and malicious content increase, it is becoming increasingly difficult to manage IT security risk. This paper describes a two-pronged approach in addressing IT security risk and risk management in the organization: 1) an institutional enterprise appraoch, and 2) a project life cycle approach.

Shedding New Light on Project Portfolio Risk Management

Directory of Open Access Journals (Sweden)

Mariusz Hofman

2017-10-01

Full Text Available This paper constitutes an innovative attempt to analyse the risks and negative phenomena dependencies within a project portfolio. Based on the available literature, the risks and negative phenomena (that is, the problems with the availability of resources, interpersonal conflicts, irregularities in the portfolio balance, etc. specific to a project portfolio were identified. Theoretical constructs were then used to connect the identified risks with the negative phenomena. Structural equations were used to confirm the existence and quality of these constructs, as well as models describing connections between phenomena. The determination of the structural equations also provided a setting in which statistical methods (χ2, RMSEA and CFI could be used to investigate the level of fit of the constructs and models to the empirical data.

ORGANIZATIONAL PROJECT MANAGEMENT MATURITY

Directory of Open Access Journals (Sweden)

Yana Derenskaya

2017-11-01

, and documenting best practices and potential difficulties. Practical implications. For the purposes of the present research, the level of organizational project management maturity of the enterprise in question is evaluated according to the three-level model developed by H. Кеrzner. The conclusion is made that project management maturity of this enterprise corresponds to maturity level 2. Besides, the defined maturity level is specified in more detail along the life cycle phases in order to determine more precisely the position of project management activity of the enterprise within the maturity model. Potential problems (the so-called “bottlenecks” of the enterprise in the field of project management are identified. Based on the results of the analysis, a number of recommendations are suggested for further development of the corporate system of project management at the given enterprise. The results of the research showed that in order to achieve a higher level of maturity, it is necessary to create a project team, organize a project office, and distribute project management functions among the team members, develop a procedure of involving experts with different professional backgrounds into the project implementation, improve the procedure of creating project teams, ensure the accumulation of best practices of project implementation, establish the corporate standard of project management, and improve the strategic planning for project management, project implementation control, managing changes, labour resources and communication. The suggested guidelines are expected to facilitate the achievement of a higher level of maturity. They also envisage the terms of this transition and the responsible executives. Further enhancement of maturity level is achieved by means of performing a set of activities for improving and aligning various project management sub-processes aimed at managing costs, time, quality, and risks. Another important condition of enhancing

Organizational structures of companies versus project management effectiveness

Directory of Open Access Journals (Sweden)

Joanna Haffer

2012-12-01

Full Text Available An organizational structure, indicated as one out of the four main organizational conditions supporting project management, has an essential meaning for project execution. This article, based on the research results, describes different organizational structures of project-orientated enterprises, enumerating their advantages and disadvantages, and reveals the influence of inter-organizational relations on project management effectiveness in enterprises operating in Poland. The results indicate that the more a character of inter-organizational relations is heading towards project structure, the higher project management effectiveness is. In the next sequence the project management processes are supported by strong matrix structures, whereas the worst outcomes are provided by functional structures. Simultaneously, it was concluded that project structures are conducive to high advancement of project management processes, and among them, especially project risk management processes as well as communication, time and cost management processes.

Project management: importance for diagnostic laboratories.

Science.gov (United States)

Croxatto, A; Greub, G

2017-07-01

The need for diagnostic laboratories to improve both quality and productivity alongside personnel shortages incite laboratory managers to constantly optimize laboratory workflows, organization, and technology. These continuous modifications of the laboratories should be conducted using efficient project and change management approaches to maximize the opportunities for successful completion of the project. This review aims at presenting a general overview of project management with an emphasis on selected critical aspects. Conventional project management tools and models, such as HERMES, described in the literature, associated personal experience, and educational courses on management have been used to illustrate this review. This review presents general guidelines of project management and highlights their importance for microbiology diagnostic laboratories. As an example, some critical aspects of project management will be illustrated with a project of automation, as experienced at the laboratories of bacteriology and hygiene of the University Hospital of Lausanne. It is important to define clearly beforehand the objective of a project, its perimeter, its costs, and its time frame including precise duration estimates of each step. Then, a project management plan including explanations and descriptions on how to manage, execute, and control the project is necessary to continuously monitor the progression of a project to achieve its defined goals. Moreover, a thorough risk analysis with contingency and mitigation measures should be performed at each phase of a project to minimize the impact of project failures. The increasing complexities of modern laboratories mean clinical microbiologists must use several management tools including project and change management to improve the outcome of major projects and activities. Copyright © 2017 The Author(s). Published by Elsevier Ltd.. All rights reserved.

Qualification program of the ASTRID SFR project: definition, methodology and associated risk evaluation and management - 15093

International Nuclear Information System (INIS)

Rodriguez, G.; Dirat, J.F.; Traina, A.; Christofari, M.

2015-01-01

The Preconceptual Design phase of the ASTRID French Sodium Fast Reactor project had the objective to integrate innovative options to meet the requirements of the 4. generation reactors and to comply with the related specifications. It was followed by the conceptual phase studies (AVP2 phase 2013-2015) where some technical options are left opened with an advanced option and a backup alternative. In the same time of the AVP2 phase studies, the qualification program related to ASTRID project was initiated. It consists in collecting the exhaustive list of research/development (R/D) needs and technological demonstration tests to be fulfilled on representative mockup prior to component implementation in the prototype. The ASTRID Qualification Program (AQP) objectives are to collect needs expressed by all engineering companies involved in ASTRID, and then to organize the answer to this expression of needs. This significant work of needs compilation has been divided in several tasks, according to the ASTRID project decomposition in the Product Breakdown Structure (PBS). Compilation of needs was jointly performed by engineering company, R/D responsible and coordinated by the ASTRID Qualification project responsible. It was associated with an evaluation of the maturity level of the technical options thanks to a Technological Readiness Level grid (TRL ranking table), an identification of major risks, and an evaluation of the R/D potentiality and associated facility platform. The methodology applied for the ASTRID Qualification Program (AQP) is presented. It is explained what methodology was used associated to the TRL process, and how is managed the associated risk analysis evaluation: evaluation of major risks, definition of a risk portfolio and a corresponding Action Plan for risk reduction (synthesized under the REM acronym: Risk Evaluation and Management). This methodology is a mean used to facilitate ASTRID risk-informed decision making, technology qualification and

From field studies to risk management: the Sensib project

International Nuclear Information System (INIS)

Mercat-Rommens, C.; Renaud, P.

2004-01-01

The consequences for the man and the environment of the discharges of nuclear facilities depend on the importance and the nature of the discharges, but also on the environment which receives them. Thus, the impact of a pollution, which is expressed in term of toxicity, risk or economic consequences, varies according to the characteristics of the environment and the use of this environment by the man. The radioecological sensitivity can be defined as the response of the environment to a radioactive pollution. This response is expressed through various indicators: the activity of a radionuclide at a precise moment, a stock of radionuclide in a given environmental compartment or a flux of radionuclide... For a determined discharge, the higher is the response, the more sensitive is the environment. If all the ecosystems appear sensitive, their sensitivity does not concern the same criteria and it is currently difficult to compare these criteria between them; is it more hazardous to have a stock of radioactivity present in a natural space or to have an important but time-limited concentration of radionuclides in a river used for irrigation? The idea of the SENSIB project is to create a standardized tool which makes it possible to represent and to compare with the same scale the sensitivity of various ecosystems. The sensitivity indexes, which will be developed during the project, aim to represent the intensity of the environmental response. These indicators, which are the result of the transfer of the radionuclides in the environment, depend on various intrinsic parameters of the ecosystems (climate, soil, agricultural practises...). The SENSIB project, based on results of field studies conducted by IRSN, aims to develop both a methodology to calculate sensitivity indexes and a radioecological sensitivity scale usable for risk management. (author)

ACCIDENT PHENOMENA OF RISK IMPORTANCE PROJECT - Continued RESEARCH CONCERNING SEVERE ACCIDENT PHENOMENA AND MANAGEMENT IN Sweden

International Nuclear Information System (INIS)

Rolandson, S.; Mueller, F.; Loevenhielm, G.

1997-01-01

Since 1988 all reactors in Sweden have mitigating measures, such as filtered vents, implemented. In parallel with the work of implementing these measures, a cooperation effort (RAMA projects) between the Swedish utilities and the Nuclear Power Inspectorate was performed to acquire sufficient knowledge about severe accident research work. The on-going project has the name Accident Phenomena of Risk Importance 3. In this paper, we will give background information about severe accident management in Sweden. In the Accident Phenomena of Risk Importance 3 project we will focus on the work concerning coolability of melted core in lower plenum which is the main focus of the In-vessel Coolability Task Group within the Accident Phenomena of Risk Importance 3 project. The Accident Phenomena of Risk Importance 3 project has joined on international consortium and the in-vessel cooling experiments are performed by Fauske and Associates, Inc. in Burr Ridge, Illinois, United States America, Sweden also intends to do one separate experiment with one instrument penetration we have in Swedish/Finnish BWR's. Other parts of the Accident Phenomena of Risk Importance 3 project, such as support to level 2 studies, the research at Royal Institute of Technology and participation in international programs, such as Cooperative Severe Accident Research Program, Advanced Containment Experiments and PHEBUS will be briefly described in the paper

Management evolution in the LSST project

Science.gov (United States)

Sweeney, Donald; Claver, Charles; Jacoby, Suzanne; Kantor, Jeffrey; Krabbendam, Victor; Kurita, Nadine

2010-07-01

The Large Synoptic Survey Telescope (LSST) project has evolved from just a few staff members in 2003 to about 100 in 2010; the affiliation of four founding institutions has grown to 32 universities, government laboratories, and industry. The public private collaboration aims to complete the estimated $450 M observatory in the 2017 timeframe. During the design phase of the project from 2003 to the present the management structure has been remarkably stable. At the same time, the funding levels, staffing levels and scientific community participation have grown dramatically. The LSSTC has introduced project controls and tools required to manage the LSST's complex funding model, technical structure and distributed work force. Project controls have been configured to comply with the requirements of federal funding agencies. Some of these tools for risk management, configuration control and resource-loaded schedule have been effective and others have not. Technical tasks associated with building the LSST are distributed into three subsystems: Telescope & Site, Camera, and Data Management. Each sub-system has its own experienced Project Manager and System Scientist. Delegation of authority is enabling and effective; it encourages a strong sense of ownership within the project. At the project level, subsystem management follows the principle that there is one Board of Directors, Director, and Project Manager who have overall authority.

General risks for tunnelling projects: An overview

Science.gov (United States)

Siang, Lee Yong; Ghazali, Farid E. Mohamed; Zainun, Noor Yasmin; Ali, Roslinda

2017-10-01

Tunnels are indispensable when installing new infrastructure as well as when enhancing the quality of existing urban living due to their unique characteristics and potential applications. Over the past few decades, there has been a significant increase in the building of tunnels, world-wide. Tunnelling projects are complex endeavors, and risk assessment for tunnelling projects is likewise a complex process. Risk events are often interrelated. Occurrence of a technical risk usually carries cost and schedule consequences. Schedule risks typically impact cost escalation and project overhead. One must carefully consider the likelihood of a risk's occurrence and its impact in the context of a specific set of project conditions and circumstances. A project's goals, organization, and environment impacts in the context of a specific set of project conditions and circumstances. Some projects are primarily schedule driven; other projects are primarily cost or quality driven. Whether a specific risk event is perceived fundamentally as a cost risk or a schedule risk is governed by the project-specific context. Many researchers have pointed out the significance of recognition and control of the complexity, and risks of tunnelling projects. Although all general information on a project such as estimated duration, estimated cost, and stakeholders can be obtained, it is still quite difficult to accurately understand, predict and control the overall situation and development trends of the project, leading to the risks of tunnelling projects. This paper reviews all the key risks for tunnelling projects from several case studies that have been carried out by other researchers. These risks have been identified and reviewed in this paper. As a result, the current risk management plan in tunnelling projects can be enhanced by including all these reviewed risks as key information.

FIDIC contracts: analysis of the impact of general and particular conditions on the financial risk management in Romanian infrastructure projects

Directory of Open Access Journals (Sweden)

Constanţa-Nicoleta Bodea

2016-12-01

Full Text Available Construction projects are characterized by risks and uncertainties mainly due to technical and economic complexity. Risk management is an important tool in making decisions involving the identification and reduction, avoidance or transfer risk and uncertainties consequences of events that occurs during project implementation. For this reason, the objective of the contract between the beneficiary and the contractor is the allocation of risk. The distribution of risk in contracts for the execution of construction works was and is an ongoing challenge faced by parties having a significant impact on the type of contract is used. On the one hand, the beneficiaries tend to transfer to the contractors as many of the project risks and uncertainties, on the other hand, the contractors look to exploit any weakness contract, so as to reduce their impact on the expected profit. One of the most important risks assumed by the contractor by signing the contract which is also increasingly common in the current economic situation is the reduced financial capacity to support the project. A purely legal or purely technical interpretation is not meant to describe the complexity of issues related to implementation of construction projects. For this reason the authors have adopted a multi-disciplinary approach, which includes the legal issues related to the nature of the contract, but also the financial and technical aspects of construction projects. The paper aims to analyze how special contract clauses can influence the implementation of construction projects and in particular the financial management of contractors. The authors propose a model for analyzing the impact of FIDIC contract conditions applied on a case study of five transport infrastructure projects.

A Fuzzy Comprehensive Evaluation Model for Sustainability Risk Evaluation of PPP Projects

Directory of Open Access Journals (Sweden)

Libiao Bai

2017-10-01

Full Text Available Evaluating the sustainability risk level of public–private partnership (PPP projects can reduce project risk incidents and achieve the sustainable development of the organization. However, the existing studies about PPP projects risk management mainly focus on exploring the impact of financial and revenue risks but ignore the sustainability risks, causing the concept of “sustainability” to be missing while evaluating the risk level of PPP projects. To evaluate the sustainability risk level and achieve the most important objective of providing a reference for the public and private sectors when making decisions on PPP project management, this paper constructs a factor system of sustainability risk of PPP projects based on an extensive literature review and develops a mathematical model based on the methods of fuzzy comprehensive evaluation model (FCEM and failure mode, effects and criticality analysis (FMECA for evaluating the sustainability risk level of PPP projects. In addition, this paper conducts computational experiment based on a questionnaire survey to verify the effectiveness and feasibility of this proposed model. The results suggest that this model is reasonable for evaluating the sustainability risk level of PPP projects. To our knowledge, this paper is the first study to evaluate the sustainability risk of PPP projects, which would not only enrich the theories of project risk management, but also serve as a reference for the public and private sectors for the sustainable planning and development. Keywords: sustainability risk eva

Alternative techniques for environmental project management

International Nuclear Information System (INIS)

Reeves, S.

1994-01-01

Beginning in the late 1970s and early 1980s, increased regulation and recognition of ground water as an important natural resource led industry to address subsurface contamination at many sites. This caused the industry's dependence on environmental consultants to increase drastically. Initially, the accepted practice for addressing environmental concerns was to rely upon consultants to determine appropriate work scope, budgets, procedures and regulatory interaction. While significant advances have been made in technology and consulting services, improvement in project management and cost containment have been limited. In order to effectively manage environmental projects, it is imperative that business risks and standardized project management practices be factored into environmental solutions. A standardized environmental project management program was developed and applied to projects at petroleum marketing facilities throughout the United States. Following development and implementation, detailed studies were conducted to measure the value of standardization in reducing costs and enhancing efficiencies. The results indicate significant improvement in both reducing project costs and in enhancing the efficiency of consultants

Marine and Hydrokinetic Technology Development Risk Management Framework

Energy Technology Data Exchange (ETDEWEB)

Snowberg, David [National Renewable Energy Lab. (NREL), Golden, CO (United States); Weber, Jochem [National Renewable Energy Lab. (NREL), Golden, CO (United States)

2015-09-01

Over the past decade, the global marine and hydrokinetic (MHK) industry has suffered a number of serious technological and commercial setbacks. To help reduce the risks of industry failures and advance the development of new technologies, the U.S. Department of Energy (DOE) and the National Renewable Energy Laboratory (NREL) developed an MHK Risk Management Framework. By addressing uncertainties, the MHK Risk Management Framework increases the likelihood of successful development of an MHK technology. It covers projects of any technical readiness level (TRL) or technical performance level (TPL) and all risk types (e.g. technological risk, regulatory risk, commercial risk) over the development cycle. This framework is intended for the development and deployment of a single MHK technology—not for multiple device deployments within a plant. This risk framework is intended to meet DOE’s risk management expectations for the MHK technology research and development efforts of the Water Power Program (see Appendix A). It also provides an overview of other relevant risk management tools and documentation.1 This framework emphasizes design and risk reviews as formal gates to ensure risks are managed throughout the technology development cycle. Section 1 presents the recommended technology development cycle, Sections 2 and 3 present tools to assess the TRL and TPL of the project, respectively. Section 4 presents a risk management process with design and risk reviews for actively managing risk within the project, and Section 5 presents a detailed description of a risk registry to collect the risk management information into one living document. Section 6 presents recommendations for collecting and using lessons learned throughout the development process.

Risk Management in Complex Construction Projects that Apply Renewable Energy Sources: A Case Study of the Realization Phase of the Energis Educational and Research Intelligent Building

Science.gov (United States)

Krechowicz, Maria

2017-10-01

Nowadays, one of the characteristic features of construction industry is an increased complexity of a growing number of projects. Almost each construction project is unique, has its project-specific purpose, its own project structural complexity, owner’s expectations, ground conditions unique to a certain location, and its own dynamics. Failure costs and costs resulting from unforeseen problems in complex construction projects are very high. Project complexity drivers pose many vulnerabilities to a successful completion of a number of projects. This paper discusses the process of effective risk management in complex construction projects in which renewable energy sources were used, on the example of the realization phase of the ENERGIS teaching-laboratory building, from the point of view of DORBUD S.A., its general contractor. This paper suggests a new approach to risk management for complex construction projects in which renewable energy sources were applied. The risk management process was divided into six stages: gathering information, identification of the top, critical project risks resulting from the project complexity, construction of the fault tree for each top, critical risks, logical analysis of the fault tree, quantitative risk assessment applying fuzzy logic and development of risk response strategy. A new methodology for the qualitative and quantitative risk assessment for top, critical risks in complex construction projects was developed. Risk assessment was carried out applying Fuzzy Fault Tree analysis on the example of one top critical risk. Application of the Fuzzy sets theory to the proposed model allowed to decrease uncertainty and eliminate problems with gaining the crisp values of the basic events probability, common during expert risk assessment with the objective to give the exact risk score of each unwanted event probability.

Effective Safety Management in Construction Project

Science.gov (United States)

Othman, I.; Shafiq, Nasir; Nuruddin, M. F.

2017-12-01

Effective safety management is one of the serious problems in the construction industry worldwide, especially in large-scale construction projects. There have been significant reductions in the number and the rate of injury over the last 20 years. Nevertheless, construction remains as one of the high risk industry. The purpose of this study is to examine safety management in the Malaysian construction industry, as well as to highlight the importance of construction safety management. The industry has contributed significantly to the economic growth of the country. However, when construction safety management is not implemented systematically, accidents will happen and this can affect the economic growth of the country. This study put the safety management in construction project as one of the important elements to project performance and success. The study emphasize on awareness and the factors that lead to the safety cases in construction project.

Integrated, regional approach to risk management of industrial systems

International Nuclear Information System (INIS)

Chakraborty, S.

1992-01-01

This paper focuses on the following four main issues: (1) necessity for an integrated, regional approach to risk management of industrial systems; (2) principles of risk management; (3) integrated approach and overall methodology; and (4) implementation of risk management strategies on a regional basis. The U.N. Interagency project on risk management for large industrial areas, which is a pioneer type of international initiative for an integrated approach to risk management, is discussed in this context. Another encouraging activity for further development of overall methodologies for risk management is the ongoing project on the risk and safety of technical systems at the Swiss Federal Institute of Technology in Aurich. The concept of integral risk management takes into account multidimensional factors including technical, economic, political, social, and ethical considerations to allow a well-balanced decision-making process

Underground risk management information systems

Energy Technology Data Exchange (ETDEWEB)

Matsuyama, S.; Inoue, M.; Sakai, T.

2006-03-15

JCOAL has conducted Joint Research on an Underground Communication and Risk Management Information System with CSIRO of Australia under a commissioned study project for the promotion of coal use starting in fiscal 2002. The goal of this research project is the establishment of a new Safety System focusing on the comprehensive risk management information system by the name of Nexsys. The main components of the system are the Ethernet type underground communication system that represents the data communication base, and the risk management information system that permits risk analysis in real-time and provides decision support based on the collected data. The Nexsys is an open system and is a core element of the underground monitoring system. Using a vast amount of underground data, it is capable of accommodating a wide range of functions that were not available in the past. Because of it, it is possible to construct an advanced underground safety system. 14 figs., 4 tabs.

Integrating risk management into the baselining process

International Nuclear Information System (INIS)

Jennett, N.; Tonkinson, A.

1994-01-01

These processes work together in building the project (comprised of the technical, schedule, and cost baselines) against which performance is measured and changes to the scope, schedule and cost of a project are managed and controlled. Risk analysis is often performed as the final element of the scheduling or estimating processes, a precursor to establishing cost and schedule contingency. However, best business practices dictate that information that may be crucial to the success of a project be analyzed and incorporated into project planning as soon as it is available and usable. The purpose or risk management is not to eliminate risk. Neither is it intended to suggest wholesale re-estimating and re-scheduling of a project. Rather, the intent is to make provisions to reduce and control the schedule and/or cost ramifications of risk by anticipating events and conditions that cannot be reliably planned for and which have the potential to negatively impact accomplishment of the technical objectives and requirements of the project

Overview of the Hanford risk management plan

International Nuclear Information System (INIS)

Halverson, T.G.

1998-01-01

The Project Hanford Management Contract called for the enhancement of site-wide decision processes, and development of a Hanford Risk Management Plan to adopt or develop a risk management system for the Hanford Site. This Plan provides a consistent foundation for Site issues and addresses site-wide management of risks of all types. It supports the Department of Energy planning and sitewide decision making policy. Added to this requirement is a risk performance report to characterize the risk management accomplishments. This paper presents the development of risk management within the context of work planning and performance. Also discussed are four risk elements which add value to the context

[The relevance of clinical risk management].

Science.gov (United States)

Gulino, Matteo; Vergallo, Gianluca Montanari; Frati, Paola

2011-01-01

Medical activity includes a risk of possible injury or complications for the patients, that should drive the Health Care Institutions to introduce and/ or improve clinical Risk management instruments. Although Italy is still lacking a National project of Clinical Risk Management, a number of efforts have been made by different Italian Regions to introduce instruments of risk management. In addition, most of National Health Care Institutions include actually a Department specifically in charge to manage the clinical risk. Despite the practical difficulties, the results obtained until now suggest that the risk management may represent a useful instrument to contribute to the reduction of errors in clinical conduct. Indeed, the introduction of adequate instruments of prevention and management of clinical risk may help to ameliorate the quality of health care Institution services.

Occupational emerging risks affecting international virtual project Team Results

Directory of Open Access Journals (Sweden)

Dumitraşcu-Băldău Iulia

2017-01-01

Full Text Available The expansion of internet access, high-speed connection services, collaborative work platforms and tools, allowed employees to interact virtually offering companies the possibility to develop projects around the world, reducing operational costs and gain competitive advantage. Realizing the advantages and disadvantages of developing a project team in an international virtual work environment, requires adopting specific strategies to construct an effective team and ensure the project success. One of the most important disadvantages that we identified is that the new work environment brings new risks for both team members and managers. So, it becomes mandatory to identify and analyze the occupational emerging risks and their impact on the productivity of virtual team members, in order to prevent them efficiently and to ensure the safety and health of employees in a virtual working environment. This paper aims to highlight the necessity for project managers and organizations, to include in their specific project strategies, an efficient occupational risks management in the virtual workplace, to obtain a continuously improved virtual working environment, so to achieve a high performance from virtual employees.

Subjective risk assessment for planning conservation projects

International Nuclear Information System (INIS)

Game, Edward T; Fitzsimons, James A; Lipsett-Moore, Geoff; McDonald-Madden, Eve

2013-01-01

Conservation projects occur under many types of uncertainty. Where this uncertainty can affect achievement of a project’s objectives, there is risk. Understanding risks to project success should influence a range of strategic and tactical decisions in conservation, and yet, formal risk assessment rarely features in the guidance or practice of conservation planning. We describe how subjective risk analysis tools can be framed to facilitate the rapid identification and assessment of risks to conservation projects, and how this information should influence conservation planning. Our approach is illustrated with an assessment of risks to conservation success as part of a conservation plan for the work of The Nature Conservancy in northern Australia. Risks can be both internal and external to a project, and occur across environmental, social, economic and political systems. Based on the relative importance of a risk and the level of certainty in its assessment we propose a series of appropriate, project level responses including research, monitoring, and active amelioration. Explicit identification, prioritization, and where possible, management of risks are important elements of using conservation resources in an informed and accountable manner. (letter)

Risk management versus incentives

International Nuclear Information System (INIS)

Aven, E.; Lovas, K.; Osmundsen, P.

2006-01-01

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 perspective, this constitutes part of the balancing between centralisation and decentralisation. This article covers important elements of risk management and incentive design. It goes on to discuss the balancing of overall risk management at the group level and incentive design in profit centres and corporate units. Throughout the article, the oil industry serves as a case. (author)

Influence of the economy crisis on project cost management

Science.gov (United States)

Simankina, Tatyana; Ćetković, Jasmina; Verstina, Natalia; Evseev, Evgeny

2017-10-01

Economy crisis significantly affects primarily the project cost management. The article considers the problems of project management in the field of housing under conditions of economy crisis. Project budgets are reduced, their mutual interference grows and framework of risks changes. Apparently, specific approaches are required to be developed to optimize the expenses and guarantee the project implementation within the approved budget. There is considered domestic and foreign experience in terms of project cost management with involvement of BIM technologies.

EVALUATION OF THE PROJECT MANAGEMENT ORGANISATIONAL ABILITY OF PUBLIC ORGANISATIONS

OpenAIRE

Florescu Margareta

2012-01-01

The quality of the results of a project or a public programme, as well as the quality of project management consist in management process performance.This analysis tool promotes the idea of initiating a new organisational/functional policy – organisational tools regarding project management, a new standard concerning the complexity of the project and the associated risk, as well as a new standard concerning the project management organisational/functional ability. Political decision makers,...

THRMS: A pilot risk management system

International Nuclear Information System (INIS)

Xue, D.; Xu, Y.

2000-01-01

Daya Bay NPP is the first commercial nuclear power plant in China. This plant is interested in and pro-active towards the development and application of PSA and PSA tools. This, together with the support from the IAEA promoted the project 'THRMS: the pilot study of risk management system for NPP'. The objectives in development and implementation of THRMS includes: survey and discuss on the development of the approaches used in constructing plant risk models; design and study on the realization of a real-time risk management system. An overview of the project is presented in this paper. (author)

Project Management

DEFF Research Database (Denmark)

Project Management Theory Meets Practice contains the proceedings from the 1st Danish Project Management Research Conference (DAPMARC 2015), held in Copenhagen, Denmark, on May 21st, 2015.......Project Management Theory Meets Practice contains the proceedings from the 1st Danish Project Management Research Conference (DAPMARC 2015), held in Copenhagen, Denmark, on May 21st, 2015....

The Risks of Investments in Transport Infrastructure Projects

Directory of Open Access Journals (Sweden)

O. Pokorná

2002-01-01

Full Text Available Investment decisions should not be taken without an in-depth analysis of the risks. This is an important stage in project preparation and should be performed simultaneously with the planning of the financial operations. Infrastructure development requires that project risks and responsibilities be assigned to the public or private entity that is best able to manage them. The risks and their financial impacts are usually not quantified equally by all parties. Each party views the given risks according to the guarantees provided. These guarantees are related to the form of participation in the project.

The role of insurance and risk management in new power plant projects

International Nuclear Information System (INIS)

Ryan, R.

1988-01-01

Insurance, and other risk management techniques, can be used to facilitate the financing and construction of power plant projects. This paper describes certain techniques, then it concentrates on insurance based solutions. The objective of this paper is to point out how the insurance industry can help small power producers. First, the standard insurance coverages will be reviewed. Then coverages that have been specifically designed for the alternative energy, cogeneration and small power producing industries will be explained. Some real life examples will be discussed to show how the coverages really work

Risk identification for PPP waste-to-energy incineration projects in China

International Nuclear Information System (INIS)

Song, Jinbo; Song, Danrong; Zhang, Xueqing; Sun, Yan

2013-01-01

Municipal solid waste (MSW) is regarded as a renewable energy source. In China, the sharp increase of MSW has precipitated the rapid growth of waste-to-energy (WTE) incineration plants. Private capital has been getting into the WTE incineration industry through the public–private partnership (PPP) arrangement. Due to the large construction cost and the long concession period commonly associated with this arrangement, a number of failures have emerged in PPP WTE incineration projects. The aim of this paper is to investigate the key risks of PPP WTE incineration projects in China and study the strategies for managing these risks by drawing experience and learning lessons from these projects. First, we analyzed the MSW management practices, relevant legislations and policies, and the development of PPP WTE incineration projects in China. Second, we identified ten key risks through interviews, surveys and visits to some selected projects, and provided detailed analysis of these risks. Lastly, we developed response strategies for these risks from the perspectives of both public and private sectors. - Highlights: • We analyze MSW management practices, relevant legislations and policies in China. • Through case study on PPP WTE incineration projects, ten key risks are identified. • Response strategies for key risks are developed

RISK ASSESSMENT IN PROJECT PLANNING USING FMEA AND CRITICAL PATH METHOD

Directory of Open Access Journals (Sweden)

Sandra Milena CHOLES ARVILLA

2014-10-01

Full Text Available This paper is based upon the research undertaken for the development of the doctoral thesis “Management of software projects based on object-oriented technology”. The study examines the existing risk management practices commonly used for classic software development. The goal is to integrate the elements of the traditional risk management methodologies to create a new agile risk management methodology. The thesis focuses on techniques that can be easily implemented in extreme programming (XP and SCRUM. This study is motivated by the following research questions: What are the elements of existing quality assurance tools that could meet the principles of agile development? And is it possible to use risk estimation for improving quality in agile projects? The thesis presents a synthesis of the most common risk management techniques, as well as an introduction to agile methods XP and SCRUM. The proposal integrates the concepts of Failure Mode and Effect Analysis into the iterative life cycle of an agile software project. The thesis presents a metamodel which integrates the concepts of agile development methodologies: SCRUM and XP with the FMEA concepts for risk quantification. The model was partly implemented into a real development project. Partial results show the improvement in early identification of failures and allowed to reconsider the Sprint plan.

Framework for managing uncertainty in property projects

NARCIS (Netherlands)

Reymen, I.M.M.J.; Dewulf, G.P.M.R.; Blokpoel, S.B.

2008-01-01

A primary task of property development (or real estate development, RED) is making assessments and managing risks and uncertainties. Property managers cope with a wide range of uncertainties, particularly in the early project phases. Although the existing literature addresses the management of

Simple steps help minimize costs, risks in project contracts

International Nuclear Information System (INIS)

Camps, J.A.

1996-01-01

Contrary to prevailing opinion, risks and project financing costs can be higher for lump sum (LS) project contracts than under reimbursable-type contracts. An element-by-element analysis of the risks and costs associated with a project enables investors to develop variations of reimbursable contracts. Project managers can use this three-step procedure, along with other recommendations, to measure the hidden project costs and risks associated with LS contracts. The author bases his conclusions on case studies of recent projects in the petroleum refining and petrochemical industries. The findings, however, are general enough to be applicable in other industrial sectors

BODIES OF KNOWLEDGE IN PROJECT MANAGEMENT AND PROJECT QUALITY MANAGEMENT

Directory of Open Access Journals (Sweden)

Tamara Gvozdenovic

2008-03-01

Full Text Available One of the main trends is standardization of project management. Some of the most important bodies of knowledge in project management, which were created by professional associations for project management are given in this paper. The main of the project management, apart from minimization of time, resources and costs, is to finish the project in the required quality, i.e. it is very important during the whole process of project management to provide realizing the project without any deviations from the previously set quality standards. Basic processes of project quality management are: quality planning, quality assurance and quality control.

Natural risks assessment and management (project of monograph)

International Nuclear Information System (INIS)

Ragozin, A.L.

1998-01-01

Full text of publication follows: large-scale theoretic and practical works on the issue of natural risk assessment and management started in Russia in the end of the 80's. By now there has been made a considerable progress, which allowed for the preparation of a collective monograph on the subject mentioned in the title of this abstract. It is supposed to be published in 1999 in order to become a Russian contribution to the International Decade of Natural Disasters Reduction. The monograph included 6 chapters with the following titles: 1. Methodological foundations of natural risk analysis and assessment. 2. Investigating and forecasting natural hazards for the purpose of risk assessment. 3. Assessment of economic, social and ecological damage from natural hazards. 4, Theory of natural risk assessment. 5. Examples of natural risk assessment and mapping. 6. Natural risk management. In the report there is described the content of the monograph and unsolved questions are discussed. Executive editor offers all international experts to cooperate in the compilation of this monograph, which is to be completed by the end of 1998, especially of chapter 5 and 6. (author)

BODIES OF KNOWLEDGE IN PROJECT MANAGEMENT AND PROJECT QUALITY MANAGEMENT

OpenAIRE

Tamara Gvozdenovic; Mirjana Miljanovic; Aleksandar Jegdic; Zeljko Crnogorcic

2008-01-01

One of the main trends is standardization of project management. Some of the most important bodies of knowledge in project management, which were created by professional associations for project management are given in this paper. The main of the project management, apart from minimization of time, resources and costs, is to finish the project in the required quality, i.e. it is very important during the whole process of project management to provide realizing the project without any deviatio...

Project risk management for development of non-utility power generators (NUGs)

International Nuclear Information System (INIS)

Lau, T.

1990-01-01

The growing Non-Utility Generation (NUG) industry has brought new opportunities and challenges for the insurance industry. There can be unique engineering and financial risks involved in the development of Non-Utility Power Generation projects. The use of new technologies to meet stringent environmental regulations and to improve project performance and efficiency presents new challenges to the project developers and designers. The lack of funding, resources and experience of some of these projects may create unusual risks that could result in failure or deficiency in the performance of the projects

Imaging X-Ray Polarimetry Explorer (IXPE) Risk Management

Science.gov (United States)

Alexander, Cheryl; Deininger, William D.; Baggett, Randy; Primo, Attina; Bowen, Mike; Cowart, Chris; Del Monte, Ettore; Ingram, Lindsey; Kalinowski, William; Kelley, Anthony;

Project safety studies - nuclear waste management (PSE)

International Nuclear Information System (INIS)

1981-10-01

The project 'Safety Studies-Nuclear Waste Management' (PSE) is a research project performed by order of the Federal Minister for Research and Technology, the general purpose of which is to deepen and ensure the understanding of the safety aspects of the nuclear waste management and to prepare a risk analysis which will have to be established in the future. Owing to this the project is part of a series of projects which serve the further development of the concept of nuclear waste management and its safety, and which are set up in such a way as to accompany the realization of that concept. This report contains the results of the first stage of the project from 1978 to mid-1981. (orig./RW) [de

Risk Management Program Application for the Component Test Capability

International Nuclear Information System (INIS)

Stephanie L. Austad; Jeffrey D. Bryan

2009-01-01

This paper documents the application of the risk management program requirements to Component Test Capability (CTC) Project activities for each CTC alternative. In particular, DOE O 413.3A, 'Program and Project Management for the Acquisition of Capital Assets,' and DOE G 413.3-7, 'Risk Management Guide for Project Management,' will apply in the event that Alternative 4, Single, Standalone Component Test Facility (CTF), is selected and approved. As such, it is advisable to begin planning to meet the associated Department of Energy (DOE) requirements and guidance as early in the acquisition process as practicable. This white paper is intended to assist in this planning and to support associated decision-making activities. Nontechnical risks associated with each alternative will be identified to support the Next Generation Nuclear Plant (NGNP) CTC alternatives analysis. Technical risks are assumed to be addressed through the Technology Development Risk Management modeling process and are inherent to the alternatives

Scope of environmental risk management

Energy Technology Data Exchange (ETDEWEB)

O' Riordan, T

1979-01-01

Environmental risk management embraces three techniques for project appraisal: cost/benefit analysis, environmental impact analysis and risk assessment. It also explicitly relates scientific investigations to political judgments, sometimes so closely that the two cannot be separated. Indeed it is now apparent that environmental risk management encompasses procedures both to review the relative merits and priorities of policies as well as to appraise the environmental risks of particular schemes. Until recently this relationship has not been fully appreciated, so much imagination and innovation is still required to develop the most-suitable mechanisms for review.

IMPLEMENTING A RISK MANAGEMENT STANDARD

Directory of Open Access Journals (Sweden)

Constantin PREDA

2013-01-01

Full Text Available After risk management “conquered” more and more project managers’ minds and showed its benefits for business and programs, the need to have a global risk management standard has become a crucial issue in the world of risk management. But having a global risk management standard has been a big challenge, starting from the decision of developing the standard (March-June 2005, to the moment of publishing it, November 2009. So, developing the ISO 31000:2009 standard has been more or less like a bumpy ride. Apparently, the people involved in developing the global risk management standard understood from the very beginning that no challenges are too big, nor any tasks too small and that the task of having a new, comprehensive global risk management standard should be completed with excellence: defining the principles and the framework guiding the risk management process applicable for all type of organizations and for a wide range of activities. Coming up with a global standard should always be based on the real organizations’ needs and should fulfill real risk management requirements. The article is trying to present the pros and cons of risk management standard implementation, challenging the implementation process itself and the added value of implementing the standard due to the lack of implementation enablers, like risk culture, a real problem especially in an international environment.

Improving ICU risk management and patient safety.

Science.gov (United States)

Kielty, Lucy Ann

2017-06-12

Purpose The purpose of this paper is to describe a study which aimed to develop and validate an assessment method for the International Electrotechnical Commission (IEC) 80001-1 (IEC, 2010) standard (the Standard); raise awareness; improve medical IT-network project risk management processes; and improve intensive care unit patient safety. Design/methodology/approach An assessment method was developed and piloted. A healthcare IT-network project assessment was undertaken using a semi-structured group interview with risk management stakeholders. Participants provided feedback via a questionnaire. Descriptive statistics and thematic analysis was undertaken. Findings The assessment method was validated as fit for purpose. Participants agreed (63 per cent, n=7) that assessment questions were clear and easy to understand, and participants agreed (82 per cent, n=9) that the assessment method was appropriate. Participant's knowledge of the Standard increased and non-compliance was identified. Medical IT-network project strengths, weaknesses, opportunities and threats in the risk management processes were identified. Practical implications The study raised awareness of the Standard and enhanced risk management processes that led to improved patient safety. Study participants confirmed they would use the assessment method in future projects. Originality/value Findings add to knowledge relating to IEC 80001-1 implementation.

Evaluation of Risk Management Strategies for a Low-Cost, High-Risk Project

Science.gov (United States)

Shishko, Robert; Jorgensen, Edward J.

1996-01-01

This paper summarizes work in progress to define and implement a risk management process tailored to a low-cost, high-risk, NASA mission -the Microrover Flight Experiment (MFEX, commonly called the Mars microrover).

Insights from implementation of a risk management methodology

International Nuclear Information System (INIS)

Mahn, J.A.; Germann, R.P.; Jacobs, R.R.

1992-01-01

In 1988, GPU Nuclear (GPUN) Corporation embarked on a research effort to identify or develop an appropriate methodology for proactively managing risks. The objective of this effort was to increase its ability to identify potential risks and to aid resource allocation decision making for risk control. Such a methodology was presented at a risk management symposium sponsored by GPUN in September of 1989. A pilot project based on this methodology has been conducted at GPUN to test and validate the elements of the methodology and to compare the results of its application with current corporate methods for guiding risk decision making. The pilot project also led to a follow-up policy-capturing study to elicit information about the various risk decision-making models of GPUN decision makers. The combination of these endeavors provided an opportunity to gain numerous insights with respect to understanding the real value of a risk management process, obtaining acceptance of and commitment to risk management and improving operational aspects of the methodology

Strengthening the management of ESA - the Inter-Directorate Reform of Corporate and Risk Management

Science.gov (United States)

Feustel-Büechl, Jörg; Arend, Harald; Derio, Eric; Infante, Giovanni; Kreiner, Gerhard; Phaler, Jesse; Tabbert, Michael

2007-02-01

ESA has undertaken the Inter-Directorate Reform of Corporate and Risk Management to strengthen the Agency's internal operations. The reform was completed at the end of 2006, encompassing five dedicated projects on Risk Management, Agency-Wide Controlling System, Project Plan and Integrated Project Review, General Budget Structure and Charging Policy, and Corporate Information Systems. It has contributed to improved management of the Agency's internal operations by engaging all internal stakeholders in a common objective, introducing improvements to planning and management methods, elaborating consolidated information structures and tools, contributing to enhanced transparency and accountability, and by providing qualified new policies, processes and tools.

Project Management and the Project Manager: A Strategy for ...

African Journals Online (AJOL)

International Journal of Development and Management Review ... collapse, project failure, project abandonment, project cost and time overruns, etc. ... component parts that constitute project management in the building construction industry.

Automating the management of software projects in a developing it ...

African Journals Online (AJOL)

Software project management is the control of the transformation of users' ... Model from The American Systems Corporation (ASC) was used for risk management. ... Multi-site development approach facilitates large projects by using simple ...

Project management for economical nuclear energy

International Nuclear Information System (INIS)

Majerle, P.P.

2005-01-01

The price of electricity is significantly influenced by the cost of the initial generation asset. The cost of the initial nuclear generation asset is significantly influenced by the design and construction duration. Negative variations in the cost and duration of actual design and construction have historically impacted the early relative economics of nuclear power generation. Successful management of plant design information will mitigate the risks of the design and construction of future nuclear plants. Information management tools that can model the integrated delivery of large complex projects enable the project owners to accurately evaluate project progress, as well as the economic impact of regulatory, political, or market activities not anticipated in the project execution plan. Significant differences exist in the electrical energy markets, project delivery models, and fuel availability between continents and countries. However, each market and project delivery model is challenged by the need to produce economical electrical energy. The information management system presented in this paper provides a means to capture in a single integrated computerized database the design information developed during plant design, procurement, and construction and to allow this information to be updated and retrieved in real time by all project participants. Utilization of the information management system described herein will enable diverse project teams to rapidly and reliably input, share, and retrieve power plant information, thereby supporting project management's goal to make good on its commitment to the economic promise of tomorrow's nuclear electrical power generation by achieving cost-effective construction. (authors)

COMPARISON OF TRENDS IN RISK MANAGEMENT THEORY AND PRACTICES WITHIN THE CONSTRUCTION INDUSTRY

Directory of Open Access Journals (Sweden)

Dena Crnković

2016-12-01

Full Text Available This study considered the problem of understanding and use of risk management methods in construction projects and their representation in the literature and their practical application. Research of trends in risk management was conducted using studies from the EBSCO database that were published in the period from 1999 to 2015. The focus included the development of two terms, namely traditional and holistic approach to risk management as well as to uncertainty and opportunity management. The trend of leading standards in the field of project management, PMBoK and ISO 31000 indicated full support for the modernization of risk management that focused on the risks as well as potential opportunities in the project. The findings also revealed that the global practices continued to lack awareness of risk management and its benefits for project goals. A similar situation was found in Croatia by observing project management practices in two case studies, namely Project Zagrebačka obala in Rijeka and a Project of SEECEL Zagreb. Primarily, the lack of education and communication between experts are important issues requiring attention in practice and academics. It is necessary to gradually introduce standards over time to prepare for progress in managing uncertainties and adopting more holistic approaches.

Project management a systems approach to planning, scheduling, and controlling

CERN Document Server

Kerzner, Harold

2017-01-01

Project Management is the bestselling text for students and professionals, presenting a streamlined approach to project management functions in full alignment with PMI(r)'s latest Project Management Body of Knowledge (PMBOK(r)). This new 12th edition has been updated to reflect the latest changes found in the PMBOK(r) Guide--Sixth Edition, and features new coverage of emerging topics including global stakeholder management, causes of failure, agile project management, project governance failure, customer approval milestones, classifying project metrics, and more. Supplementary materials are available for students, working professionals, and instructors. * Understand organizational structures and project management functions * Learn how to control costs, manage risk, and analyze trade-offs * Examine different methods used for planning, scheduling, QA, and more * Work effectively with customers and stakeholders from around the globe Project Management is the comprehensive reference to keep within arm's reach. ...

Risk assessment in energy efficiency projects; Gerenciamento de riscos em projetos de eficiencia energetica

Energy Technology Data Exchange (ETDEWEB)

Aragao Neto, Raymundo Moniz de

2003-08-15

This paper aims to present processes related to risk management in energy efficiency projects, delivered in a performance contracting basis. Introductory comments will be presented about the considered project model, emphasizing the necessity of proper processes of risk management and evaluation and their treatment according methodology developed by PMI - Project Management Institute, grouped in its publication PMBOK - Project Management Body of Knowledge. A hypothetical project will be demonstrated, but similar to the Brazilian Body of Knowledge. A hypothetical project will be demonstrated, but similar to the Brazilian market reality, as a form of illustrating the considered methodology.

VALUES-ORIENTED PROJECT MANAGEMENT OF RENEWABLE ENERGY

Directory of Open Access Journals (Sweden)

Олександр Михайлович ВОЗНИЙ

2017-03-01

Full Text Available The value-oriented approach to project management of renewable energy based on classification stage of the life cycle of products of the projects, adapted to the goals and objectives of information modeling, which allowed to formulate stricter requirements information models used at different stages of the power plant is proposed. A classification of the alternative energy projects, which highlighting areas for activities is proposed. The list of stakeholders that have an impact on alternative energy projects and presented their classification is defined. The value of alternative energy projects considered from the standpoint of a utilitarian approach, using the concept of utility and on the basis of this concept proposed classification values of alternative energy projects. Criteria values as indicators for assessing the value of alternative energy projects and their weights determined by pairwise comparison. To take into account the changes of the value criteria over time proposed to use the key control points value, assessed value criteria in various key points of control, defined indicator of the total value of alternative energy projects. The classification of risks and tools for value-oriented risk management in alternative energy projects is proposed. Further study authors plan to link the development of mechanisms for harmonization value alternative energy projects for their stakeholders.

Relationships Between Risks in an IT Project Development Portfolio

NARCIS (Netherlands)

Kusters, R.J.; Postema, J.J.; Trienekens, J.J.M.; Lavazza, L.; Oberhauser, R.; Martin, A.; Hassine, J.; Gebhart, M.; Jäntti, M.

2013-01-01

More and more it is seen that IT (Information Technology) projects are managed as a whole as part of a IT project portfolio. As one of the arguments for doing so, risk management at the portfolio level was identified as one of the advantages that could benefit from this. This was based on the notion

Risk management: A tool for improving nuclear power plant performance

International Nuclear Information System (INIS)

2001-04-01

This technical document on risk management as a tool for improving nuclear power plant (NPP) operations is part of an ongoing project on management of NPP operations in a competitive environment. The overall objective of this project is to assist the management of operating organizations and NPPs in identifying and implementing appropriate measures to remain competitive in a rapidly changing business environment. Other reports developed through this project have identified overall strategies and techniques that NPP operating organization managers can use to succeed in more competitive energy markets. For example, in IAEA-TECDOC-1123, Strategies for Competitive Nuclear Power Plants, one of the most important strategies identified was integrated risk management. This publication provides a recommended structure for risk management along with examples of how NPP operating organizations are using this tool to help them integrate safety, operational and economic related risks in a changing business environment

Integrated Project Management System description

International Nuclear Information System (INIS)

1994-09-01

The Integrated Program Management System (IPMS) Description is a ''working'' document that describes the work processes of the Uranium Mill Tailings Remedial Action Project Office (UMTRA) and IPMS Group. This document has undergone many revisions since the UMTRA Project began; this revision not only updates the work processes but more clearly explains the relationships between the Project Office, contractors, and other participants. The work process flow style has been revised to better describe Project work and the relationships of participants. For each work process, more background and guidance on ''why'' and ''what is expected'' is given. For example, a description of activity data sheets has been added in the work organization and the Project performance and reporting processes, as well as additional detail about the federal budget process and funding management and improved flow charts and explanations of cost and schedule management. A chapter has been added describing the Cost Reduction/Productivity Improvement Program. The Change Control Board (CCB) procedures (Appendix A) have been updated. Project critical issues meeting (PCIM) procedures have been added as Appendix B. Budget risk assessment meeting procedures have been added as Appendix C. These appendices are written to act as stand-alone documentation for each process. As the procedures are improved and updated, the documentation can be updated separately

Economic optimisation of flood risk management projects

NARCIS (Netherlands)

Tsimopoulou, V.

2015-01-01

The Netherlands has developed a flood risk management policy based on an economic rationale. After the flood disaster of 1953, when a large area of the south-western part of the country was flooded and more than 1800 people lost their lives, the so-called Delta Committee was installed, whose main

19th International Congress on Project Management and Engineering

CERN Document Server

Blanco, José; Capuz-Rizo, Salvador

2017-01-01

This book gathers the best papers presented at the 19th International Congress on Project Management and Engineering, which was held in Granada, Spain in July 2015. It covers a range of project management and engineering contexts, including: civil engineering and urban planning, product and process engineering, environmental engineering, energy efficiency and renewable energies, rural development, information and communication technologies, safety, labour risks and ergonomics, and training in project engineering. Project management and engineering is taking on increasing importance as projects continue to grow in size, more stakeholders become involved, and environmental, organisational and technological issues become more complex. As such, this book offers a valuable resource for all professionals seeking the latest material on the changing face of project management.

Nurse managers' challenges in project management.

Science.gov (United States)

Suhonen, Marjo; Paasivaara, Leena

2011-11-01

To analyse the challenges that nurse managers meet in project management. Project management done by nurse managers has a significant role in the success of projects conducted in work units. The data were collected by open interviews (n = 14). The participants were nurse managers, nurses and public health nurses. Data analysis was carried out using qualitative content analysis. The three main challenges nurse managers faced in project management in health-care work units were: (1) apathetic organization and management, (2) paralysed work community and (3) cooperation between individuals being discouraged. Nurse managers' challenges in project management can be viewed from the perspective of the following paradoxes: (1) keeping up projects-ensuring patient care, (2) enthusiastic management-effective management of daily work and (3) supporting the work of a multiprofessional team-leadership of individual employees. It is important for nurse managers to learn to relate these paradoxes to one another in a positive way. Further research is needed, focusing on nurse managers' ability to promote workplace spirituality, nurse managers' emotional intelligence and their enthusiasm in small projects. © 2011 Blackwell Publishing Ltd.

Global projections of drought hazard in a warming climate: a prime for disaster risk management

Science.gov (United States)

Carrão, Hugo; Naumann, Gustavo; Barbosa, Paulo

2018-03-01

Projections of drought hazard ( dH) changes have been mapped from five bias-corrected climate models and analyzed at the global level under three representative concentration pathways (RCPs). The motivation for this study is the observation that drought risk is increasing globally and the effective regulation of prevention and adaptation measures depends on dH magnitude and its distribution for the future. Based on the Weighted Anomaly of Standardized Precipitation index, dH changes have been assessed for mid-(2021-2050) and late-century (2071-2099). With a few exceptions, results show a likely increase in global dH between the historical years (1971-2000) and both future time periods under all RCPs. Notwithstanding this worsening trend, it was found that projections of dH changes for most regions are neither robust nor significant in the near-future. By the end of the century, greater increases are projected for RCPs describing stronger radiative forcing. Under RCP8.5, statistically significant dH changes emerge for global Mediterranean ecosystems and the Amazon region, which are identified as possible hotspots for future water security issues. Taken together, projections of dH changes point towards two dilemmas: (1) in the near-term, stake-holders are left worrying about projected increasing dH over large regions, but lack of actionable model agreement to take effective decisions related to local prevention and adaptation initiatives; (2) in the long-term, models demonstrate remarkable agreement, but stake-holders lack actionable knowledge to manage potential impacts far distant from actual human-dominated environments. We conclude that the major challenge for risk management is not to adapt human populations or their activities to dH changes, but to progress on global initiatives that mitigate their impacts in the whole carbon cycle by late-century.

Risk management of hydropower development in China

International Nuclear Information System (INIS)

Tang, Wenzhe; Li, Zhuoyu; Qiang, Maoshan; Wang, Shuli; Lu, Youmei

2013-01-01

There is a rapidly increasing demand for hydropower in China. However, little research has been conducted to systematically investigate the overall aspects of hydropower development risks. With support of the data collected from a fieldwork survey, this study reports the multiple facets of hydropower development risks in China as perceived by main project participants. All groups have a common view on the criticality of safety, and the groups also have their own priorities, i.e., resettlement of migrants, incompetence of subcontractors, project delay, inadequate or incorrect design, premature failure of facilities and ecological and environmental impacts are the key risks to clients, whereas quality of work, financial related risks, reputation, and claims and disputes are the main concerns to contractors. A case study of Three Gorges Project further demonstrates that, hydropower development risks can be effectively managed by encouraging joint efforts of all participants to achieve the goals on producing renewable energy, reducing emissions of CO 2 , and providing important social/economical benefits. Future hydropower development should emphasize the interactions between project delivery, environmental, and economical processes to reach appropriate trade-offs among involving stakeholders, by adequately considering the inter-relations between project participants' risks as well as hydropower project's externalities on a broad view. - Highlights: • Largely attributed to unforeseen geology conditions, safety is critical in hydropower development. • Resettlement of migrants is the principal risk to clients, whereas quality of works is the first concern to contractors. • One group's risks are typically related to others', needing collaborative risk management by participants. • Three Gorges Project plays a key role on producing renewable energy, and providing social/economical benefits. • Hydropower development should emphasize the interactions between

Risk Management Techniques and Practice Workshop Workshop Report

Energy Technology Data Exchange (ETDEWEB)

Quinn, T; Zosel, M

2008-12-02

At the request of the Department of Energy (DOE) Office of Science (SC), Lawrence Livermore National Laboratory (LLNL) hosted a two-day Risk Management Techniques and Practice (RMTAP) workshop held September 18-19 at the Hotel Nikko in San Francisco. The purpose of the workshop, which was sponsored by the SC/Advanced Scientific Computing Research (ASCR) program and the National Nuclear Security Administration (NNSA)/Advanced Simulation and Computing (ASC) program, was to assess current and emerging techniques, practices, and lessons learned for effectively identifying, understanding, managing, and mitigating the risks associated with acquiring leading-edge computing systems at high-performance computing centers (HPCCs). Representatives from fifteen high-performance computing (HPC) organizations, four HPC vendor partners, and three government agencies attended the workshop. The overall workshop findings were: (1) Standard risk management techniques and tools are in the aggregate applicable to projects at HPCCs and are commonly employed by the HPC community; (2) HPC projects have characteristics that necessitate a tailoring of the standard risk management practices; (3) All HPCC acquisition projects can benefit by employing risk management, but the specific choice of risk management processes and tools is less important to the success of the project; (4) The special relationship between the HPCCs and HPC vendors must be reflected in the risk management strategy; (5) Best practices findings include developing a prioritized risk register with special attention to the top risks, establishing a practice of regular meetings and status updates with the platform partner, supporting regular and open reviews that engage the interests and expertise of a wide range of staff and stakeholders, and documenting and sharing the acquisition/build/deployment experience; and (6) Top risk categories include system scaling issues, request for proposal/contract and acceptance testing, and

Effectiveness evaluation of contingency sum as a risk management ...

African Journals Online (AJOL)

Ethiopian Journal of Environmental Studies and Management ... manage risks prone projects have adopted several methods, one of which is contingency sum. ... initial project cost, cost overrun and percentage allowed for contingency.

Risk management system in the natural gas distribution of Lima and Callao according guidelines “Recommendations on transmission and distribution practice” and risk management of the PMI Project (2008)

OpenAIRE

Luján Ruiz, Roger Orlando

2014-01-01

The purpose of this research study is to analyze quantitative operational risk according to the guidelines of the practice recommendation “Recommendations on Transmission and Distribution Practice” , published by The Institution of Gas Engineers of Great Britain and the PMBOK . Chapter 11 , Managing Project Risk . This study was conducted in the Trunk pipeline system operated by Cálidda the Peru - Natural Gas from the City Gate located in Lurín , to Callao Terminal Station . The purpose of th...

Use of Satellite SAR Data for Seismic Risk Management: Results from the Pre-Operational ASI-SIGRIS Project

Science.gov (United States)

Salvi, Stefano; Vignoli, Stefano; Zoffoli, Simona; Bosi, Vittorio

2010-12-01

The scope of the SIGRIS pilot project is the development of an infrastructure to provide value-added information services for the seismic risk management, assuring a close integration between ground-based and satellite Earth Observation data. The project is presently in the demonstration phase, and various information products are constantly generated and disseminated to the main user, the Italian Civil Protection Department. We show some examples of the products generated during the Crisis management of the 2009 L'Aquila earthquake in Central Italy. We also show an example of products generated for the Knowledge and Prevention service in support of the seismic hazard assessment in the area of the Straits of Messina.

Agent-Based Simulations for Project Management

Science.gov (United States)

White, J. Chris; Sholtes, Robert M.

2011-01-01

Currently, the most common approach used in project planning tools is the Critical Path Method (CPM). While this method was a great improvement over the basic Gantt chart technique being used at the time, it now suffers from three primary flaws: (1) task duration is an input, (2) productivity impacts are not considered , and (3) management corrective actions are not included. Today, computers have exceptional computational power to handle complex simulations of task e)(eculion and project management activities (e.g ., dynamically changing the number of resources assigned to a task when it is behind schedule). Through research under a Department of Defense contract, the author and the ViaSim team have developed a project simulation tool that enables more realistic cost and schedule estimates by using a resource-based model that literally turns the current duration-based CPM approach "on its head." The approach represents a fundamental paradigm shift in estimating projects, managing schedules, and reducing risk through innovative predictive techniques.

Risk management plan for the National Ignition Facility

International Nuclear Information System (INIS)

Brereton, S.; Lane, M.; Smith, C.; Yatabe, J.

1998-01-01

The National Ignition Facility (NIF) is a U.S. Department of Energy inertial confinement laser fusion facility, currently under construction at the Lawrence Livermore National Laboratory (LLNL). NIF is a critical tool for the Department of Energy (DOE) science- based Stockpile Stewardship and Management Program. In addition, it represents a major step towards realizing inertial confinement fusion as a source of energy. The NIF will focus 192 laser beams onto spherical targets containing a mixture of deuterium and tritium, causing them to implode. This will create the high temperatures and pressures necessary for these targets to undergo fusion. The plan is for NIF to achieve ignition (i.e., self-heating of the fuel) and energy gain (i.e., more fusion energy produced than laser energy deposited) in the laboratory for the first time. A Risk Management Plan was prepared for the NIF design and construction Project. The plan was prepared in accordance with the DOE Life Cycle Asset Management Good Practice Guide. The objectives of the plan were to: (1) identify the risks to the completion of the Project in terms of meeting technical and regulatory requirements, cost, and schedule, (2) assess the risks in terms of likelihood of occurrence and their impact potential relative to technical performance, ES ampersand H (environment, safety and health), costs, and schedule, and (3) address each risk in terms of suitable risk management measures. Major risk elements were identified for the NIF Project. A risk assessment methodology was developed, which was utilized to rank the Project risks with respect to one another. Those elements presenting greater risk were readily identified by this process. This paper describes that methodology and the results

AHP-based risk analysis of energy performance contracting projects in Russia

International Nuclear Information System (INIS)

Garbuzova-Schlifter, Maria; Madlener, Reinhard

2016-01-01

Understanding and properly managing risks that could potentially affect the target- and performance-based profits of energy performance contracting (EPC) projects are essential. It is particularly important for the establishment and success of energy service companies (ESCOs) acting in the vulnerable environment of the vast but highly energy-inefficient Russian market. This study systematically explores common risk factors and causes of risk associated with EPC projects executed in three Russian sectors: (1) industrial; (2) housing and communal services; and (3) public. Several interviews with the Russian EPC experts were accomplished and a qualitative risk assessment by using an analytic hierarchy process (AHP) approach. The data were obtained from a web-based questionnaire survey conducted among Russian EPC project executors. For each focus sector, a specific preference-based ranking of the identified risk factors and causes of risk was derived. The AHP results show that causes of risk related to the financial and regulatory aspects contribute most to the riskiness of EPC projects performed in all three focus sectors in Russia, calling for the special attention of EPC policy- and business-makers. Due to sectorial particularities and different actors involved, we conclude that there is a need for elaboration of sector-specific contractual schemes for EPC projects. - Highlights: • AHP- and survey-based study of energy performance contracting (EPC) projects in Russia. • Main risk factors and causes of risk associated with EPC projects are investigated. • In practice, lack of a feasible risk management approach in EPC projects. • Regulatory and financial risks contribute most to the EPC projects’ riskiness. • Elaboration of the sector-specific EPC project contractual scheme is required.

Market analysis and risk management of EU emissions trading

International Nuclear Information System (INIS)

Ollikainen, M.; Ollikka, K.; Aatola, P.; Ahonen, H.M.; Pohjola, T.; Kumpulainen, A.; Lappalainen, E.

2006-01-01

The first EU emissions trading period commenced on 1 January 2005. It implies new challenges to companies included in the scheme. A central challenge is the uncertainty related to the markets. In order to manage risks and profitability companies need to be able to estimate future price developments of emission allowances. University of Helsinki is conducting a research project in cooperation with Helsinki University of Technology that will provide necessary information for analyzing emission allowance markets and create risk management competence. The objectives of the research project are 1) to develop a price estimation model for EU emission allowances and 2) to develop risk management competence related to EU emission allowances. With the price estimation model the short-term price developments of EU emission allowances can be estimated. By utilizing the model companies can reduce uncertainties related to the markets. The project will also deliver a general risk management model for emission allowances that aims at improving competitiveness of companies. (orig.)

Managing water, fish and power : trends in environmental regulation of hydropower projects

Energy Technology Data Exchange (ETDEWEB)

Bursey, D.; McLean, J.; Longe, R. [Bull, Housser and Tupper LLP, Vancouver, BC (Canada)

2009-07-01

Recent trends in federal legislation related to the environmental impacts of hydroelectric power projects were reviewed. The study focused on a discussion of recent and proposed amendments to the Species at Risk Act, the Fisheries Act, and the Navigable Waters Protection Act. Challenges associated with risk management, the public perception of risk, and the communication of decisions related to the management and protection of aquatic ecosystems were discussed. The Brilliant Expansion Power Project (BRX) examined the interactions with white sturgeon on the Kootenay River in British Columbia (BC). A monitoring program was conducted during the project's construction in order to reduce the risk to sturgeon from blasting. A habitat enhancement feature was also constructed. It was concluded that the mitigation strategies used during the BRX project provide a useful example of innovation and adaptive management. 19 refs.

Managing IT Projects in Public Companies: A Case Study

Directory of Open Access Journals (Sweden)

Bouras, A.

2014-07-01

Full Text Available As part of its public sector modernization effort, a North African government has put a lot of effort and allocated significant budgets since 1997 to modernize one of its main public sector companies. Consequently, this company, that mainly offers postal services, initiated many IT-based projects to computerize all paper-based ongoing services offered through its branches and to present new products to customers. This company was aiming to improve service quality and to diversify the range of its services. However, some of these IT-based projects inevitably faced problems. Some projects were either not completed successfully, cancelled, over-budget or taking more time than scheduled. As a result, many employees and customers of this company were dissatisfied and complained about bad planning, slowness and significant disruptions in these projects, an event that affected adversely the quality of service. This study aims at determining the causes of these project disruptions, failures or delays. To achieve this aim, 30 experienced project developers and engineers working in that company’s IT department volunteered to respond to a detailed questionnaire specifically developed for this purpose. The questionnaire included questions about project vision clarity, time/cost management, project quality assurance, risk management and human resources management. Results show that the main reasons for disruptions, failure or delays in IT projects are lack of business plan and poor documentation during and after finishing projects, lack of clear quality assurance criteria, standards and reviews, and poor project risk management practices. Ramifications of such results in terms of improving IT project management practices in the public service sector are finally presented.

Managing discovery risks--A Tevatron case study

International Nuclear Information System (INIS)

Bakul Banerjee

2004-01-01

To meet the increasing need for higher performance, Management of Fermi National Accelerator Laboratory has undertaken various projects to improve systems associated with the Tevatron high-energy particle collider located at Batavia, Illinois. One of the larger projects is the Tevatron Beam Position Monitor (BPM) system. The objective of this project is to replace the existing BPM electronics and software system that was originally installed during early 1980s, along with the original construction of the Tevatron.The original system consists of 236 beam position monitors located around the underground tunnel of the accelerator. Above ground control systems are attached to these monitors using pickup cables. When the Tevatron collider is operational, signals received from the BPMs are used to perform a number of control and diagnostic tasks. The original system can only capture the proton signals from the collider. The new system, when fully operational, will be able to capture combined proton and antiproton signals and will be able to separate the antiproton signal from the combined signal at high resolution. This significant enhancement was beyond the range of technical capabilities when the Tevatron was constructed about two decades ago. To take advantage of exceptional progress made in the hardware and software area in past two decades, Department of Energy approved funding of the BPM electronics and software replacement project. The approximate length of the project is sixteen months with a budget of four million dollars not including overhead, escalation, and contingencies. Apart from cost and schedule risks, there are two major risks associated with this research and development project. The primary risk is the risk of discovery. Since the Tevatron beam path is highly complex, BPMs have to acquire and process a large amount of data. In this environment, analysis of data to separate antiproton signals is even more complex. Finding an optimum algorithm that can

Critical success factors for implementing risk management systems in developing countries

Directory of Open Access Journals (Sweden)

M.Reza Hosseini

2016-03-01

Full Text Available A review of published studies on risk management in developing countries reveals that critical success factors for implementing risk management has remained an under-researched area of investigation. This paper is aimed at investigating the perceptions of construction professionals concerning the critical success factors (CSFs for implementation of risk management systems (IRMS. Survey data was collected from 87 construction professionals from the Iranian construction industry as a developing country. The results indicate that four factors are regarded as highly critical: ‘support from managers’, ‘inclusion of risk management in construction education and training courses for construction practitioners’, ‘attempting to deliver projects systematically’, and ‘awareness and knowledge of the process for implementing risk management’. Assessing the associations among CSFs also highlighted the crucial role of enhancing the effectiveness of knowledge management practices in construction organisations. Study also revealed that parties involved in projects do not agree on the level of importance of CSFs for implementing risk management in developing countries. This study contributes to practice and research in several ways. For practice, it increases understanding of how closely knowledge management is associated with the implementation of risk management systems in developing countries. For research, the findings would encourage construction practitioners to support effective knowledge management as a precursor to higher levels of risk management implementation on construction projects.

Osnovy formirovanija sistemy upravlenija riskami proektov innovacionnogo razvitija akvakul'tury v regione (Na primere Kaliningradskoj oblasti [The formation of a risk management system for projects in the field of aquaculture innovative development in the Kaliningrad region: a case study

Directory of Open Access Journals (Sweden)

Serbulov Alexey

2012-01-01

Full Text Available This article sets out to develop the concept and the principal scheme of the formation of a risk management system for innovative economic development projects in the field of aquaculture. The research carried out by the authors helps identify the main problems and characteristics of risk management projects for the development of aquaculture in presentday Russia. The authors outline the status and features of aquaculture development projects in the North-western federal district and the Kaliningrad region. The article formulates and justifies the concept of “risk management projects in innovative development of aquaculture in the region” focusing on the classification of aquaculture risks in relation to innovative development projects, which expands the conceptual framework of risk management in view of the specific risks relating to economic development projects in the field of aquaculture. The authors characterize modern methods and approaches to risk management projects and organizations in the context of their application in the framework of aquaculture development projects and offer mechanisms for risk management of aquaculture development projects, which make it possible to include risk management activity in the general context of activities of parent project organizations. The authors develop the concept and principal scheme of the formation of risk management system for innovative development projects in aquaculture.

Mainstreaming Disaster Risk Management for Finance: Application of Real Options Method for Disaster Risk Sensitive Project

Directory of Open Access Journals (Sweden)

KUSDHIANTO SETIAWAN

Full Text Available This paper discusses the application of real options analysis for a project that is in the process of construction and was affected by a natural disaster. The use of the analytical method has become a way of thinking in making decisions that should be taught to business school students. The case in this paper is based on an MBA thesis at the University of Gadjah Mada that was intended as a showcase for application of real options to address real business problems. It shows one of the strategies in mainstreaming disaster risk management in the business school that also answers the needs of businesses in the disaster-prone country.

18th International Congress on Project Management and Engineering

CERN Document Server

Blanco, José; Capuz-Rizo, Salvador

2016-01-01

This volume features papers from the 18th International Congress on Project Management and Engineering, held by the University of Zaragoza in collaboration with the Spanish Association of Project Management and Engineering (AEIPRO). It illustrates the state of the art in this emerging area. Readers will discover ways to increase the effectiveness of project engineering as well as the efficiency of project management. The papers, written by international researchers and professionals, cover civil engineering and urban planning, product and process engineering, environmental engineering, energy efficiency and renewable energies, rural development, safety, labor risks and ergonomics, and training in project engineering. Overall, this book contributes to the improvement of project engineering research and enhances the transfer of results to the job of project engineers and project managers around the world. It will appeal to all professionals in the field as well as researchers and teachers involved in the traini...

A Quantitative Measure For Evaluating Project Uncertainty Under Variation And Risk Effects

Directory of Open Access Journals (Sweden)

A. Chenarani

2017-10-01

Full Text Available The effects of uncertainty on a project and the risk event as the consequence of uncertainty are analyzed. The uncertainty index is proposed as a quantitative measure for evaluating the uncertainty of a project. This is done by employing entropy as the indicator of system disorder and lack of information. By employing this index, the uncertainty of each activity and its increase due to risk effects as well as project uncertainty changes as a function of time can be assessed. The results are implemented and analyzed for a small turbojet engine development project as the case study. The results of this study can be useful for project managers and other stakeholders for selecting the most effective risk management and uncertainty controlling method.

Project management in building industry management

Directory of Open Access Journals (Sweden)

Martin Nový

2012-01-01

Full Text Available The article deals with contents of the project management on general level first. It mentions the most widespread project management standards, which have historically developed in global scale, their parts and objectives. Further, it describes position of the building industry in national economy, its specific features distinguishing it from the other industrial production, contents of the building industry management and project management of structures. The importance of the role of project manager is documented by characteristics of construction projects, their course, contents of sub-phases, and individual types of managing activities. Attention is devoted to project planning – determination of realization costs, necessary resources, sequence and time course of individual works. The most frequently used graphic methods of schedule presentation – Gantt chart, network chart and frequency bar chart are applied on examples of constructions. These charts can be focused in time sequence on individual types of resources – workforce, finance, materials, energies, and machinery. In conclusion, necessity to manage the project management procedures is emphasized as a part of skills of a construction engineer in the role of preparation manager or construction project realization manager.

Contradictions Between Risk Management and Sustainable Development

International Nuclear Information System (INIS)

Olsen, Odd Einar; Langhelle, Oluf; Engen, Ole A.

2006-01-01

The aim of this paper is to discuss how risk management as a methodology and mindset influence on priorities and decisions concerning sustainable development. Management of risks and hazards often rely on partial analysis with a limited time frame. This may lead to a paradoxical situation where risk management and extended use of risk analysis could hamper long term sustainable development. The question is: Does the use of risk and vulnerability analysis (RaV-analysis) hamper or contribute to sustainable development? Because risk management and assessment has a more narrow scope and a limited time perspective based on well established methodologies, the tangible impacts of risk reducing measures in a project is easier to calculate than long-term and intangible impacts on global development. Empirical evidence is still scarce, but our preliminary conclusion is that mainstream risk management and assessments is counterproductive to sustainable development

Contradictions Between Risk Management and Sustainable Development

Energy Technology Data Exchange (ETDEWEB)

Olsen, Odd Einar; Langhelle, Oluf; Engen, Ole A. [Univ. of Stavanger (Norway). Dept. of Media, Culture and Social Science

2006-09-15

The aim of this paper is to discuss how risk management as a methodology and mindset influence on priorities and decisions concerning sustainable development. Management of risks and hazards often rely on partial analysis with a limited time frame. This may lead to a paradoxical situation where risk management and extended use of risk analysis could hamper long term sustainable development. The question is: Does the use of risk and vulnerability analysis (RaV-analysis) hamper or contribute to sustainable development? Because risk management and assessment has a more narrow scope and a limited time perspective based on well established methodologies, the tangible impacts of risk reducing measures in a project is easier to calculate than long-term and intangible impacts on global development. Empirical evidence is still scarce, but our preliminary conclusion is that mainstream risk management and assessments is counterproductive to sustainable development.

Examining the Perceived Value of Integration of Earned Value Management with Risk Management-Based Performance Measurement Baseline

Science.gov (United States)

Shah, Akhtar H.

2014-01-01

Many projects fail despite the use of evidence-based project management practices such as Performance Measurement Baseline (PMB), Earned Value Management (EVM) and Risk Management (RM). Although previous researchers have found that integrated project management techniques could be more valuable than the same techniques used by themselves, these…

Complexity Management In Projects Between Rational Momentum And Complex Conditions

DEFF Research Database (Denmark)

Mac, Anita; Schlamovitz, Jesper

2015-01-01

Abstract: This study takes its departure in a model of complexity, developed by Stacey (1993), to test and discuss its practical benefit as perceived by practicing project managers. Based on a survey, the study finds that complexity is a phenomenon recognized by project managers, and complexity...... management is associated with benefits in the development of tasks and managing stakeholders. It is also associated with some difficulty in terms of an increased need for dialogue and a risk of creating goal ambiguity. Based on the findings, we conclude that classical project management approaches can...... benefit from incorporating complexity management....

Complexity management in projects between rational momentum and complex conditions

DEFF Research Database (Denmark)

Mac, Anita; Schlamovitz, Jesper

This study takes its departure in a model of complexity, developed by Stacey (1993), to test and discuss its practical benefit as perceived by practicing project managers. Based on a survey, the study finds that complexity is a phenomenon recognized by project managers, and complexity management...... is associated with benefits in the development of tasks and managing stakeholders. It is also associated with some difficulty in terms of an increased need for dialogue and a risk of creating goal ambiguity. Based on the findings, we conclude that classical project management approaches can benefit from...... incorporating complexity management....

Evaluating Sources of Risks in Large Engineering Projects: The Roles of Equivocality and Uncertainty

Directory of Open Access Journals (Sweden)

Leena Pekkinen

2015-11-01

Full Text Available Contemporary project risk management literature introduces uncertainty, i.e., the lack of information, as a fundamental basis of project risks. In this study the authors assert that equivocality, i.e., the existence of multiple and conflicting interpretations, can also serve as a basis of risks. With an in-depth empirical investigation of a large complex engineering project the authors identified risk sources having their bases in the situations where uncertainty or equivocality was the predominant attribute. The information processing theory proposes different managerial practices for risk management based on the sources of risks in uncertainty or equivocality.

Forecast Inaccuracies in Power Plant Projects From Project Managers' Perspectives