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Journal articles on the topic 'Projects risks'
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1
Dorokhina, E. Yu. "Risks of Web projects." Entrepreneur’s Guide 13, no. 4 (November 23, 2020): 22–28. http://dx.doi.org/10.24182/2073-9885-2020-13-4-22-28.
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The paper presents shows the place and role of web projects in the system of projects related to the use of information technologies. The low efficiency of it projects and web projects, in particular, makes it necessary to develop new approaches to management. The most important specific risks of web projects and their sources are analyzed. The classification of web project risks is proposed.
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Носенко and A. Nosenko. "Advertising Project Staff Risks." Management of the Personnel and Intellectual Resources in Russia 3, no. 1 (February 10, 2014): 33–37. http://dx.doi.org/10.12737/2626.
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Risks for advertising project personnel are considered based on the case of «Raiffeisenbank» advertising campaign. Virtually all risks, intrinsic to advertising projects, are generated more or less through the personnel risks. Major advertising project risks are described and analyzed, including those of disloyalty, lack of competency, lack of motivation, underfunding, incorrect market segmentation and incorrect choice of distribution channel. Advertising project management are risk-bearing to a substantial degree, and the majority of the said risks are produced and/or manifest themselves not without project personnel. Such feature is conditioned by peculiarities of advertising projects, analyzed by the author in terms of HRM techniques applicable at the stage of project activities organization. Specific emphasize is made on personnel risks in the course of advertising projects implementation and on ways to evaluate and reduce thereof.
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Abdul-Rahman, Hamzah, Chen Wang, and Nur Hamizah Ariffin. "Identification of Risks Pertaining to Abandoned Housing Projects in Malaysia." Journal of Construction Engineering 2015 (November 10, 2015): 1–12. http://dx.doi.org/10.1155/2015/524717.
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Housing industry is one of the most dynamic, risky, and challenging industries. In Malaysia, this industry has a poor reputation for managing risks, with many major projects failing to be completed within the allotted time. Due to the inherent risks involved in construction projects, it is essential to recognize the risks that cause problems associated with abandoned housing projects. Therefore, this study aims to identify the risks that contribute to issues of abandoned housing projects and to propose mitigation strategies. The methodologies used in this study are combination of qualitative and quantitative methods of literature review, questionnaire survey, and interview. The results show that many risks are involved in housing project, including risks related to environmental impacts, construction, politics, law, management, finance, materials, and economy, of which the probability of risks from unexpected ground condition, project delays, bureaucracy, contractual disputes between developer and landlord, weakness in management by inexperience developer, and financial crisis is very high. It was also found that all relevant parties involved in housing industry are required to have extensive cooperation in advance and should perform systematic risk management strategies in order to mitigate the risks leading to problems associated with abandoned housing projects.
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Deshmukh, G. K., Hory Sankar Mukerjee, and U. Devi Prasad. "Risk Management in Global CRM IT Projects." Business Perspectives and Research 8, no. 2 (February 2, 2020): 156–72. http://dx.doi.org/10.1177/2278533719887005.
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Global information technology projects are risky with failure rates for customer relationship management information technology (CRM IT) projects estimated to 70 percent. These failures are often due to multiplicity of factors including poor risk management. The project management literature points out four broad types of risks: technical, external, organizational, and other risk factors. Project manager’s basic job, therefore, becomes to manage the risks and ensure that an IT project is steered to completion while meeting the objectives. Unmanaged risks run into chances of failure and ultimately impacting the CRM project and the reputation of the consultant. Payne and Frow’s (2005) advocates the need for a structured study on the information technology implementations of these projects. The objectives of the study are to investigate: how project risks in CRM- IT implementations impact the final outcome and how the risk management process adopted by the IT project manager impacts the final outcome of the project. The research was conducted administering questionnaire to 135 project managers. It was found that project risk impact cost, time, and technical performance and risk management process impacts planning, support of customers as well as top management.
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Hoermann, Stefan, Michael Schermann, Marco Aust, and Helmut Krcmar. "Risk Profiles in Individual Software Development and Packaged Software Implementation Projects." International Journal of Information Technology Project Management 5, no. 4 (October 2014): 1–23. http://dx.doi.org/10.4018/ijitpm.2014100101.
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The aim of this paper is to compare risk profiles of individual software development (ISD) and packaged software implementation (PSI) projects. While researchers have investigated risks in either PSI projects or ISD projects, an integrated perspective on how the risk profiles of these two types of information system (IS) projects differ is missing. To explore these differences, this work conducted a Delphi study at a German-based financial services company. The results suggest that: First, ISD projects seem to be more heterogeneous and face a larger variety of risks than the more straightforward PSI projects. Second, ISD projects seem to be particularly prone to risks related to sponsorship, requirements, and project organization. Third, PSI projects tend to be predominantly subject to risks related to technology, project planning, and project completion. Finally, in contrast to available lists of risks in IS projects and irrespective of the project type, the paper found a surprisingly high prominence of technology and testing-related risks.
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Korchagina, M. V., and K. S. Mukhiddinov. "Risks of innovation projects." Economy and ecology of territorial educations 3, no. 2 (2019): 52–56. http://dx.doi.org/10.23947/2413-1474-2019-3-2-52-56.
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Rubtsova, Mariia, Anastasiia Soldatenkova, and Olga Petreneva. "Construction innovation projects risks." PNRPU Construction and Architecture Bulletin 7, no. 2 (2016): 76–82. http://dx.doi.org/10.15593/2224-9826/2016.2.08.
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Elbaruni, Jalal, Olena Bielova, and Viktor Melenchuk. "ANALYSIS AND PRIORITIZING RISK MINIMIZING TECHNIQUES OF IT PROJECTS." Management of Development of Complex Systems, no. 45 (March 1, 2021): 6–12. http://dx.doi.org/10.32347/2412-9933.2021.45.6-12.
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This article is devoted to the risk analysis of IT projects. The article defines the risks of IT projects, classifies the key risks of IT projects and identifies the main sources of risks of IT projects. The analysis of risks of IT projects at introduction of information management system in realization of projects of the company is also presented. The possibility of risks of IT projects during the implementation of the management information system in the implementation of the company's projects is analyzed. And also the ways of minimization of occurrence of risks of IT projects at introduction of information management system in realization of projects of the company are offered. Under ideal circumstances, in modern organizations, project implementation reduces risks to zero. At the same time, in modern realities, it remains necessary to take into account risks and manage them as part of the organization when implementing projects. Nevertheless, risk minimization is effective for the dynamic growth of an organization or institution when implementing projects. The current trends in information projects in today's competitive world are fundamental and necessary for any project-oriented organization to manage risks in information outsourcing projects in an ideally complex task. Thus, this article examines the main factors that lead to the emergence of risks, based on modern scientific sources from leading researchers in the field of project management, taking into account the peculiarities of developing an optimal risk management system in an organization when implementing projects, as well as the implementation of such a system under various scenarios of projects’ implementation in organizations. A structure aimed at improving the risk management system in organizations during project implementation is also proposed. The study found that prioritization in the consideration of project risks, as well as risk factors, helps to correlate the risk of the project and the risk of the company itself. Prioritizing the response to risk factors and their strength of influence, considering the time, volume and quality of risks are of paramount importance for the dynamic growth of the organization and allow to conduct a matrix analysis of risks, and then propose ways to minimize risk.
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Reed, April H., and Linda V. Knight. "Technology Related Risks on Virtual Software Development Projects." International Journal of Information Technology Project Management 3, no. 1 (January 2012): 1–14. http://dx.doi.org/10.4018/jitpm.2012010101.
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Virtual software development projects have a greater reliance on technology than traditional co-located projects because of the need to leverage technology to facilitate or enhance communication among virtual team members. The goal of this research was to determine whether technology-related risks pose a greater risk to virtual projects than to traditional projects. Seven technology-related risks were identified from the literature, individual interviews with IT practitioners, and a focus group. Then 154 practitioners, primarily project managers, participated in an electronic survey that explored the impact of these factors. Results indicate two technology-related risks exhibited a significantly greater impact on virtual IT projects. Project managers need to be aware that (1) traditional project risks can have greater impact on virtual projects, and (2) of the technology-related risk factors, inexperience with the company and its processes and inadequate technical resources have been shown here to pose a greater threat to virtual projects than to traditional projects.
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Shestakov, Dmytro. "The Hypotheses Testing Method for Evaluation of Startup Projects." Journal of Economics and Management Sciences 4, no. 4 (December 6, 2021): p47. http://dx.doi.org/10.30560/jems.v4n4p47.
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This paper suggests new perspective to evaluating innovation projects and understanding the nature of startup risks. Author consider five principal hypotheses that underlie every innovative project that comprise a bunch of respective assumptions to manage startup risks in a proactive manner. Suggested approach spots the light on a project’s uncertainties and risks, embedded investment and managerial options, and enables more comprehensive and accurate evaluation of innovation. The Hypotheses Testing Method enables to estimate risks and attractiveness of a startup project in a clear and fast manner. It replaces unclear traditional techniques like NPV and DCF, avoiding heavy cash flow modelling.
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Wang, Jin, Lu Wang, Yang Xu, Xiao Yu Wang, and Zong Yun Song. "Financial Management Risk Identification and Measurement in UHV Project." Applied Mechanics and Materials 740 (March 2015): 972–76. http://dx.doi.org/10.4028/www.scientific.net/amm.740.972.
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Compared with the general power engineering projects, UHV projects have characteristics of large construction scale, wide radius of management, long management chain and many units involved. Therefore, UHV projects have many financial risks which are different from general power projects. Identifying and measuring risks of financial management in the UHV project is of great significance to avoid important financial risks and improve the efficiency of project financial management. After combing the present situation and characteristics of the UHV project financial management, we use the “three whole” to identify UHV project financial risks from an all-around point of view. Then each importance score of the risk is obtained by expert scoring method so as to divide all the risks into 3 groups, significant risks, important risks and commonly risks by clustering analysis, which can provide the basis for optimizing UHV project financial management mode in the future.
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Krane, Hans Petter, Asbjørn Rolstadås, and Nils O. E. Olsson. "Categorizing Risks in Seven Large Projects—Which Risks Do the Projects Focus On?" Project Management Journal 41, no. 1 (March 2010): 81–86. http://dx.doi.org/10.1002/pmj.20154.
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Konior, J. "Significance Risks Evaluation of Commercial Construction Projects." Archives of Civil Engineering 65, no. 2 (June 1, 2019): 19–33. http://dx.doi.org/10.2478/ace-2019-0016.
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AbstractThe main objective of the article is to present quantified and measurable risks likelihood appearance, impact and significance of inspected and monitored 48 commercial construction projects and their feasibility to be carried out. Original technical, financial and organisational feasibility studies in compliance with a rigorous Bank Investment Supervision requirements have been executed by the author in the period of 2005 – 2018. Methodology of construction project appraisal for financing and execution professional preparation have been laid out – technical documentation, arrangements, realisation. Analysis and assessment of Bank Investment Supervision consisted of project execution plan PEP, geotechnical and environmental conditions, permit design, agreements and decision impacts of local authorities, engineering contract for construction works, project insurance and performance bonds, schedule of execution tasks and their costs, payment plan, investment budget and project economical effectiveness, scope of monthly construction works execution assessed by Earned Value Method approach and handover procedure of construction project. An attempt was made to express numerically the relationship between risks impacts and their level of likelihood. Also, a method of associating the influence of projects risks impacts on the extent of the likelihood of project risk occurrence which makes possible to determine the direction and the strength of this relationship was presented. Finally, risks likelihood appearance, impact and significance variability of commercial construction projects within last two years of booming investment industry have been determined.
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Kuczyńska, Ewa, and Mariusz Nepelski. "Project Management in Public Administration. Risks and Challenges." Internal Security 13, no. 2 (December 29, 2021): 23–24. http://dx.doi.org/10.5604/01.3001.0015.6555.
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Project risk is the object of interest of people and institutions implementing and financing project activities. Each project brings new challenges and risks but also a chance to gain knowledge and development. That is why project management is becoming a standard that receives more and more attention. At the stage of launching a project, it is necessary to conduct risk analysis, which allows risks identification, characterisation and proper assessment. This analysis enables the development of a risk prevention plan, indicating ways to respond to challenging situations when they occur. It also allows the introduction of risk monitoring methods. The specified stages of risk management are well known in public administration, especially to those institutions that raise funds for implementing projects and then manage them. In public administration, institutions implementing projects are obliged to carry out management control, and some responsibilities related to risk management have been imposed on applicants. Therefore, it becomes necessary for project managers and unit managers to understand its (risk) importance for achieving the objectives of the organisation’s projects and the potential benefits that can be obtained after its effective implementation. Organisations that can take into account risk management awareness in projects will be able to use the risk management process to improve the results and increase the satisfaction of all parties interested in the implementation of projects. This article aims to present the identification and risk assessment in projects and challenges faced by the public administration, including the security system, which has been dynamically acquiring funds for implementing projects in recent years.
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Pakhomova, Y. V., N. N. Kudryavtseva, and Y. N. Duvanova. "Formation of the enterprise investment strategy." Proceedings of the Voronezh State University of Engineering Technologies 83, no. 2 (September 27, 2021): 237–42. http://dx.doi.org/10.20914/2310-1202-2021-2-237-242.
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Currently, modern methods used to evaluate the effectiveness of investment projects are most focused on quantitative assessment, do not take into account the peculiarities of project implementation at different stages, and also lack the ability to take into account investment risks in conditions of sectoral characteristics. Risks are associated with postponing the implementation of the investment project over time, so taking into account uncertainties should be an integral part of the assessment of the effectiveness of projects. When creating and implementing an investment project, it is necessary to take into account innovative, commercial, technical and technological, financial risks. Therefore, it is proposed to improve the methodology for assessing efficiency based on the risks taken into account in calculating the discount rate for each phase of the life cycle of the project. In the article, the authors substantiated the need to apply systematic analysis, modern methods, a methodological approach to assessing the effectiveness of investment projects in the electric power industry, taking into account the risks taken into account when calculating the discount rate for each phase of the life cycle of the project, which allows you to more accurately calculate the main indicators of the efficiency of the investment project. The main indicators of evaluation of investment projects efficiency and factors influencing decision-making on investment projects, such as inflation, discounting ratios of the corresponding investment sphere, are considered. Applied research, and even more so fundamental, requires significant investments, the return on which at the first stages of the development and implementation of investment projects is difficult to predict. The end result is also obviously not predictable, which makes investing one of the most risky areas of activity of modern companies.
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Jurisch, Marlen Christin, Zuzana Rosenberg, and Helmut Krcmar. "Emergent risks in business process change projects." Business Process Management Journal 22, no. 4 (July 4, 2016): 791–811. http://dx.doi.org/10.1108/bpmj-01-2015-0002.
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Purpose – Even today still many business process change (BPC) initiatives fail and cause high overruns for organizations undergoing BPC initiatives. It is therefore important that BPC practitioners and researchers understand the risks inherent in BPC projects, and that they adapt their risk management processes to account for and mitigate these risks. Thus, the purpose of this paper is to investigate which emergent risks matter in BPC project. Design/methodology/approach – The authors adopted case survey methodology and investigated data from 130 case studies to show the nature and magnitude of relationships between organizational support risks, volatility risks, and BPC project and process performance. Findings – The results show that organizational support risks influence both the overall BPC project performance and process performance. Whereas, volatility risks influence project performance but appear to have no direct impact on the process performance. Both organizational support risks and volatility risks show influence on project management practices. Research limitations/implications – The study show several limitations that might be assigned to the case survey methodology, such as use of secondary data or publication bias. Practical implications – The authors provide considerable support which emergent risks matter in BPC projects. Originality/value – The contribution of this study takes several forms. It fills a gap in the literature concerning emergent risk factors inherent in BPC projects. The authors provided theoretical explanation of the effects of emergent risks on BPC project and process performance. And lastly, the authors have demonstrated the usefulness of case survey methodology in BPC research.
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Areej A. Alsaadi and Redvan Ghasemlounia. "Reasons for Delaying the Constriction Projects in Iraq." International Journal of Engineering and Management Research 11, no. 1 (February 17, 2021): 129–33. http://dx.doi.org/10.31033/ijemr.11.1.18.
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This article dealt with construction projects in Iraq, and the research focused on the risks that may affect these projects. The purpose of this study is to determine the risks that construction projects are exposed to in Iraq and the methods of dealing in order to reduce these risks. Sometimes, if the construction projects are similar to each other in terms of configuration, requirements and purpose, then changing the project site is very sufficient to make these projects differ from each other and thus may be exposed to different risks. These are risks that negatively affect the implementation of these projects and may lead to delay or increase in their cost. Here a questionnaire is designed to collect data to identify risks that may occur during the construction project phases. This questionnaire was distributed electronically to several samples in the public and private sectors within state institutions in Iraq. After completion, the risks that these projects may be exposed to were identified. This was done with engineers and managers of companies and projects working in the public, private and joint sectors, and then these risks were analyzed by the Social Sciences for Packet Statistical Test program(SPSS).
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Nunes, Marco, António Abreu, and Célia Saraiva. "Identifying Project Corporate Behavioral Risks to Support Long-Term Sustainable Cooperative Partnerships." Sustainability 13, no. 11 (June 3, 2021): 6347. http://dx.doi.org/10.3390/su13116347.
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Projects are considered crucial building blocks whereby organizations execute and implement their short-, mid-, and long-term strategic visions. Projects are thought, developed, and implemented to solve problems, drive change, satisfy unique needs, add value, and exploit opportunities, just to name a few objectives. Although existing project management tools and techniques aim to deliver projects with success, according to the latest reviewed literature, projects still keep failing at an impressive pace. Among the extensive list of factors that may threaten project success, several articles from the research literature place particular importance on a still underexplored factor that may strongly lead to unsuccessful project delivery. This factor—usually known as corporate behavioral risks—usually emerges and evolves as organizations work together to deliver projects across a bounded period of time, and is characterized by the mix of formal and informal dynamic interactions between the different stakeholders that constitute the different organizations. Furthermore, several articles from the research literature also point out the lack of proper models to efficiently manage corporate behavioral risks as one of the major factors that may lead to projects failing. To efficiently identify and measure how such corporate behaviors may contribute to a project’s outcomes (success or failure), a heuristic model is proposed in this work, developed based on four fundamental fields ((1) project management, (2) risk management, (3) corporate behavior, and (4) social network analysis), to quantitatively analyze four critical project social networks ((1) communication, (2) problem-solving, (3) advice, and (4) trust), by applying the theory of social network analysis (SNA). The proposed model in this work is supported with a case study to illustrate its implementation and application across a project lifecycle, and how organizations can benefit from its application.
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Li, Qian, Ziheng Shangguan, Mark Wang, Dengcai Yan, Ruizhi Zhai, and Chuanhao Wen. "Risk Assessment of China’s Water-Saving Contract Projects." Water 12, no. 10 (September 25, 2020): 2689. http://dx.doi.org/10.3390/w12102689.
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In order to alleviate the problem of water shortage, the Ministry of Water Resources of China proposed a Water-Saving Contract (WSC) project management model in 2014, which is similar to the Energy Performance Contract (EPC). In this context, this research aims to explore the applicability of China’s WSC projects by risk assessment, and to help promote WSC projects in China. Different from traditional risk assessment, this paper takes into account the uncertainty of the EPC project’s risks, and adopts the multielement connection degree set pair analysis to evaluate both the level and trend of the risks. The results show: (1) the overall risk of China’s WSC projects is low, so WSC projects are very suitable for promotion in China. However, the overall risk shows a trend of decelerated ascent, which shows that there are some potential high-risk factors in China’s WSC projects; (2) among the many risks of the WSC projects, audit risk, financing risk, and payment risk are at a high-risk level; market competition risk is at a medium-risk level; the remaining risks are at a low-risk level; (3) among the medium and high risks, audit risk, financing risk, and market competition risk have a trend of accelerated ascent, while payment risk has a trend of decelerated decline; in low risks, inflation risk has a trend of decelerated ascent, while the remaining risks have a trend of accelerated decline.
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Sobol, Alexander, and Oleg Fadeev. "Risk assessment and management in the implementation of projects in the rocket and space complex on the basis of commercial effectiveness principles." MATEC Web of Conferences 212 (2018): 08027. http://dx.doi.org/10.1051/matecconf/201821208027.
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The paper discusses the possibility of implementing projects in the rocket and space complex on the principles of commercial efficiency without support coming from the government. In the paper, project risks in the implementation of projects in the rocket and space complex are classified. A comprehensive assessment of activities on project risks that can be applied in the rocket and space complex are also described. The paper also develops stages of managing project risks in commercial projects of the rocket and space complex, as well as a scheme of monitoring risks for commercial projects. The paper concludes that it is possible to implement projects in the rocket and space complex without government support using an effective system of risk assessment and management.
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Leurig, Sharlene. "Investment Risks for Water Projects." Texas A&M Journal of Property Law 1, no. 1 (October 2013): 69–83. http://dx.doi.org/10.37419/jpl.v1.i1.4.
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Unlike most of the developed world, where investor-owned water systems serve the majority of the population, the United States relies mostly on water provided by public systems. To a great extent, these systems were financed through the taxation authority of the federal government—the iconic Hoover Dam only one of the many hundreds of pipelines and reservoirs built by agencies such as the Bureau of Reclamation and Army Corps of Engineers for the benefit of local economic development. Similarly, many of the drinking and waste- water treatment facilities in operation today were built to help communities comply with the federal Safe Drinking Water Act and Clean Water Act and financed in large part by federal dollars distributed through the Environmental Protection Agency, sometimes leveraged by state revolving loan funds. What of our public water systems has not been paid for by federal or state tax dollars has been debt-financed through the tax-exempt municipal bond market. Of the $3.7 trillion municipal bond market,1 roughly 10% is debt issued by water and wastewater systems to build, repair and expand water infrastructure.
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Thamhain, Hans. "Managing Risks in Complex Projects." Project Management Journal 44, no. 2 (April 2013): 20–35. http://dx.doi.org/10.1002/pmj.21325.
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Tiong, Robert L. K. "BOT projects: Risks and securities." Construction Management and Economics 8, no. 3 (September 1990): 315–28. http://dx.doi.org/10.1080/01446199000000026.
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Burtseva, Tatyana, Lyudmila Rudenko, Olga Fokina, and Olga Pavlyutenkova. "Management of innovation projects: financial risks." E3S Web of Conferences 135 (2019): 04053. http://dx.doi.org/10.1051/e3sconf/201913504053.
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Management of innovative projects requires a deep assessment of various risks, and financial risks here are especially important. Management of financial risks in the field of innovative activity significantly affects the efficiency of the whole work. It is also one of the most important components of the project activity. The article describes research results of the main target segments for planning a program of financial risk management. The research is based on a cluster analysis that describes the most significant groups of risk factors. Enterprises implementing innovative projects need to pay special attention to these factors, especially when developing various measures for the formation and development of innovative activities and the management of various risks.
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Jiang, Weiyan, Jingshu Lei, Meiyue Sang, Yinghui Wang, and Kunhui Ye. "A Conceptual Framework for Modeling Social Risk Tolerance for PPP Projects: An Empirical Case of China." Buildings 11, no. 11 (November 10, 2021): 531. http://dx.doi.org/10.3390/buildings11110531.
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Public–private partnerships (PPPs) are a useful approach that allows the public sector to collaborate with private investors in financing, implementing, and operating public sector facilities. Over the past few decades, the occurrence of social risks and the vulnerability of PPP projects to these risks have caused numerous project failures. While practitioners claim to manage the social risks of PPP projects, little effort has been made to explore the proper ways of doing this. In this study, we present a social risk tolerance (SRT) concept and propose a model to quantify the tolerance of PPP projects to social risks. One hundred and twenty-three PPP projects were collected from China for model validation. The results indicate a positive relationship between SRT values and project size and that the SRT has diminishing marginal values. This paper presents a new concept in PPP research and provides an appropriate approach for managing the social risks of PPP projects. The research findings can help both the public and private sectors understand the social risks associated with PPP projects and determine effective countermeasures to control these risks.
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Orel, T. V., and I. V. Korneeva. "Assessment of the risks of the company’s investment project." Normirovanie i oplata truda v promyshlennosti (Rationing and remuneration of labor in industry), no. 10 (October 1, 2021): 71–79. http://dx.doi.org/10.33920/pro-3-2110-08.
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Planning investment projects involves the need to study the risks that affect the profitability of projects. Otherwise, such investment projects can lead to significant losses. Therefore, timely identification and management of all risks of an investment project is of particular importance.
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Aletby, Noor, and Hafeth Ibrahim. "Identification and Qualitative Evaluation of Risk Factors in the Construction Projects in Iraq." Diyala Journal of Engineering Sciences 14, no. 2 (June 16, 2021): 91–101. http://dx.doi.org/10.24237/djes.2021.14209.
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Construction projects in Iraq face many dangers that cause exceeding the estimated cost of the project and not completing the project on time, and since the risk management process in construction projects is of great importance in controlling and reducing the impact of risks in construction projects, so it is necessary to identify these risks and evaluate them correctly in order to increase accuracy and the health of the subsequent stages of the risk management process in construction projects. This paper aims to identify the most important risks in construction projects in Iraq and to conduct a qualitative assessment of the identified risks and arrange them according to their importance. The researcher adopted the questionnaire method as a tool to determine the risks and used the technique of probability and effect matrix to conduct the qualitative assessment of the identified risks. The study found that there are 48 risk factors that constitute the most dangerous factor in construction projects in Iraq, and 10 of the determining factors were within the high level of risk, and at the forefront of which was the inability of the owner to finance the project.
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Sudirman, Weddy Bernadi, and Sarwono Hardjomuljadi. "Project Risk Management in Hydropower Plant Projects." Journal of Infrastructure Development 3, no. 2 (December 2011): 171–86. http://dx.doi.org/10.1177/097493061100300205.
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The development of hydroelectric power plant is one of the efforts in utilising water resources for people’s welfare by generating the energy for electricity purpose. Nowadays, the installed capacity of hydro electric power plants is 3,529 MW from the total installed capacity 24,846 MW from various power plants owned by PT PLN (Persero) and the hydropower potential 75,000 MW all over Indonesia. Hydroelectric power plant has complex structures and involves large amounts of capital with a long-running construction period. This situation imposes uncertainty factors with considerably high risks. The construction phase is identified as a critical phase in hydropower projects where many unforeseen factors occur. Failure to manage project risks leads to significant problems for the client such as completion time delays and cost overruns. In order to prevent time delays and cost overruns in hydropower construction in PT PLN (Persero), the study on project risk management in the construction stage of hydropower plant projects had been conducted. The purpose of this study was to identify and measure the importance of construction risks and to determine the level of agreement or disagreement between the client, consultants and contractors on the ranking of construction risk in hydropower projects. The author selected the respondents from the clients, consultants and contractors’ personnel who had work experience in hydropower construction projects in PT PLN (Persero). JEL Classification: L74—Construction
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Masár, Matej, and Mária Hudáková. "PROJECT RISK IDENTIFICATION OF A NEW PRODUCT IN ENTERPRISE IN SLOVAKIA." CBU International Conference Proceedings 6 (September 25, 2018): 343–49. http://dx.doi.org/10.12955/cbup.v6.1180.
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Enterprises want to focus on successfully managed projects. Projects must be focused on fulfilling project expectations and setting project objectives. It is necessary to ensure the early identification of project risks. If managers understand and know project risks, they can mitigate them. They can use mitigation to prevent projects from failing, or financial loses in the company. The main aim of this paper is the identification of project risks of a new product in a particular company in the Slovak Republic using the method of brainstorming. Risks can positively but mainly negatively affect the implementation of the proposed project. The proposed project was created based on the methods of analysis, forecasting, comparison, synthesis and provided information from a specific enterprise. The identified risks are grouped into the specified project implementation categories, in order to better identify the identified risks as well as to implement other project risk management steps. The results of the study show that early identification of project risks should be a responsibility for project team members, for top managers and the corporate culture of each enterprise.
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Gachie, Wanjiru. "Project sustainability management: risks, problems and perspective." Problems and Perspectives in Management 17, no. 1 (March 25, 2019): 313–25. http://dx.doi.org/10.21511/ppm.17(1).2019.27.
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This research aims to propose and validate research of a New Framework for integration of the concept of sustainability in projects by investigating the relationship between project and sustainability for project success. Integrating sustainability in projects is crucial metric for project success. However, the dearth in literature and the slow pace in emerging literature has left many issues unanswered regarding integration of sustainability in projects and the commitment of project teams to sustainability pillars. Therefore, this article explores the current state of sustainability, its potential weaknesses and therein proposes corrective action for the legitimatization of a New Framework on ‘project sustainability’ in an authentic environment. The methodological approach adopted in this research is a pragmatic examination of secondary data collected by the project team during a one-year period that demonstrates the effects of neglecting proactive management of the three pillars of sustainability resulting in poor project performance in terms of resources and stakeholder resistance, as well as the lessons learned therein. The findings reveals a low degree of commitment by project teams towards sustainability particularly with regard to social and environment pillars, even though the economic pillar has been given much attention, there is still much to be done. Hence, the importance of the proposed New Framework for project success. This research concludes and recommends the need to integrate sustainability adequately throughout a project life-cycle for the attainment of organizational strategy and satisfying stakeholders’ expectations. However, this can take place with a knowledgeable project management team on sustainability.
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Siu, Ming-Fung Francis, Wing-Yan Jacqueline Leung, and Wai-Ming Daniel Chan. "A DATA-DRIVEN APPROACH TO IDENTIFY-QUANTIFY-ANALYSE CONSTRUCTION RISK FOR HONG KONG NEC PROJECTS." JOURNAL OF CIVIL ENGINEERING AND MANAGEMENT 24, no. 8 (December 14, 2018): 592–606. http://dx.doi.org/10.3846/jcem.2018.6483.
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Project risks must be managed to deliver construction projects on time and within budget. In recent years, the New Engineering Contract (NEC) provides an alternate contracting method for procuring construction projects. As stipulated in the NEC contract, NEC risk register must be used to record any project risks. The risk register is designed to record each risk item in the context of textual description, likelihood, and consequence. However, it is time-consuming to identify, quantify, and analyse NEC project risks based on experience, questionnaire, simulation, and data-mining approach. Any method to fully utilise the records of NEC risk registers of past projects for managing NEC project risks remains unexplored. As such, a data-driven approach is proposed to categorise common risks of NEC projects and to analyse risk rating of risk categories by combining the use of text mining analysis and decision tree analysis. A practical case study in Hong Kong is used to illustrate the method of application. Top four common types of NEC project risks, which are ground and utilities, design information, structures, and workmanship, were identified, quantified, and analysed. The new approach helps NEC project planners to identify, quantify, and analyse NEC project risks time-efficiently.
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IQBAL, Shahid, Rafiq M. CHOUDHRY, Klaus HOLSCHEMACHER, Ahsan ALI, and Jolanta TAMOŠAITIENĖ. "RISK MANAGEMENT IN CONSTRUCTION PROJECTS." Technological and Economic Development of Economy 21, no. 1 (January 29, 2015): 65–78. http://dx.doi.org/10.3846/20294913.2014.994582.
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Risk management is an important field of construction industry and has gained more importance internationally due to the latest researches carried out on a large scale. However, this relatively new field requires more attention to bring some benefit. Construction projects are facing a number of risks which have negative effects on project objects such as time, cost and quality. This study is based on findings of a questionnaire-based survey on risk management in construction projects in Pakistan, reporting the significance of different type of risk, ultimate responsibility for them and the effectiveness of some most common risk management techniques practiced in the industry. Two types of risk management techniques were considered: preventive techniques which can be used before the start of a project to manage risks that are anticipated during the project execution; and remedial techniques that are used during the execution phase once a risk has already occurred. The study revealed that financial issues for projects, accidents on site and defective design are the most significant risks affecting most of construction projects. As further reported, the contractor is responsible for management of most risks occurring at sites during the implementation phase, such as issues related to subcontractors, labour, machinery, availability of materials and quality, while the client is responsible for the risks such as financial issues, issues related to design documents, changes in codes and regulations, and scope of work. Further reported results of the analysis demonstrate that the production of proper schedule by getting updated data of the project and guidance from previous similar projects are the most effective preventive risk management techniques while close supervision and coordination within projects are the most effective remedial risk management techniques. It may be concluded that the most significant risks must be managed with greater effort to reduce/eliminate their effects on the project. As the study concludes, preparation of a proper schedule and good coordination during the implementation stage are very important as they may help project managers to focus on critical areas for better management of projects in Pakistan.
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Ganbat, Tsenguun, Heap-yih Chong, Pin-Chao Liao, and Jeremy Leroy. "Identification of critical risks in international engineering procurement construction projects of Chinese contractors from the network perspective." Canadian Journal of Civil Engineering 47, no. 12 (December 2020): 1359–71. http://dx.doi.org/10.1139/cjce-2019-0549.
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International engineering procurement construction (IEPC) is a complex subject interconnected with risk transfer. In-depth understanding of risks in IEPC projects is essential for effective risk management and managerial strategies. Most related studies focus on the critical risks based on the perceptions of stakeholders or their direct “contribution” to the project loss. This study aims to investigate risk interconnection in IEPC projects through social network analysis, with a focus on the critical risks, risk interactions, and risk mitigation strategies. Three approaches were employed. First, the risk register and interconnection between IEPC projects were identified through a literature review. Second, the risk register and interrelationships were investigated using a questionnaire to formulate theoretical risk-interdependent networks. Third, practical IEPC projects were analyzed using network metrics to identify mitigation strategies for the associated critical risks. From the obtained results, we concluded that controlling security and contract risks in project management can reduce the occurrence or impact of other risks. Moreover, environmental issues related to contractors are also critical in international construction projects. Investigating relationships between risks has uncovered different risk-propagation mechanics within IEPC projects, thus extending the theoretical knowledge for international construction and risk management.
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Nepal, Achyut, Vishnu Khanal, and Ruhanita Maelah. "Relative Importance of Risks in Hydropower Projects and Project Finance in Nepal." Journal of Advanced Academic Research 8, no. 1 (June 22, 2021): 1–21. http://dx.doi.org/10.3126/jaar.v8i1.38409.
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Hydropower is the sole internal source of electricity in Nepal. Since the government policy of private participation in hydropower sector launched, Independent Power Producers (IPPs) have gained significant presence under Public-Private Partnership (PPP) model of infrastructure development. Risk management is crucial in PPP projects as mishandling of any risk threatens sustainability and may result in project failure. This study analyses four major risks including Hydropower Sector Specific Risks, Project Finance Specific Risks, Hydropower Project Financing Risks and Country Specific Political and Legal Risks. Self-administrative survey utilizing questionnaire was conducted among the IPPs and domestic Banking and Financial Institutions (BFIs). Relative Importance Indices have been used to determine the importance of each risk item. Exchange rate changes, currency mismatch between local revenue and foreign loan, cost and time overrun, inflation, political turmoil and highly volatile political environment are few of the most critical risks found. For Project Finance proper allocation of risks among the stakeholders is crucial to make the projects bankable. Findings from this study indicate no risk should be neglected and relative importance of risks is critical in allocating risks among stakeholders. This study highlights assessment and the use of RII in the process of allocation and management of risks in infrastructure projects in general and hydropower in particular.
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Tamošaitienė, Jolanta, Vahidreza Yousefi, and Hamed Tabasi. "Project Portfolio Construction Using Extreme Value Theory." Sustainability 13, no. 2 (January 16, 2021): 855. http://dx.doi.org/10.3390/su13020855.
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Choosing proper projects has a great impact on organizational success. Firms have various factors for choosing projects based on their different objectives and strategies. The problem of optimization of projects’ risks and returns is among the most prevalent issues in project portfolio selection. In order to optimize and select proper projects, the amount of projects’ expected risks and returns must be evaluated correctly. Determining the relevant distribution is very important in achieving these expectations. In this research, various types of practical distributions were examined, and considering expected and realized risks, the effects of choosing the different distribution on estimation of risks on construction projects were studied.
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Ogbu, Chukwuemeka Patrick, and Chinedu Chimdi Adindu. "Direct risk factors and cost performance of road projects in developing countries." Journal of Engineering, Design and Technology 18, no. 2 (August 31, 2019): 326–42. http://dx.doi.org/10.1108/jedt-05-2019-0121.
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Purpose Globally, road projects are notorious for riskiness, which often results in cost overruns. In developing countries, these risks are amplified by economic instabilities and institutional failures. Majority of road projects in these countries are awarded to notedly inept indigenous contractors. Currently, research on the relationship between risks and cost performance of road projects has predominantly focussed on the client’s perspective. Effects of risks on contractors’ cost performance (profit) are inadequately investigated in literature. The purpose of this paper is to determine the relationship between direct risks and cost performance of road projects by indigenous contractors of developing countries from the contractors’ perspective. Design/methodology/approach The multivariate structural equation modelling technique was used to analyse purposively obtained data from indigenous contractors that recently completed road projects in Nigeria. Findings It was observed that a significant positive relationship exists between the aggregate project risk, i.e. project risk index of cost (PRIC) and cost performance of the projects. Significant positive relationships were also found to exist between identified cost risk centres and PRIC and between risk factors and cost risk centres. The risk centre site environment and location contributes the most to PRIC. Research limitations/implications Indigenous contractors of developing countries are to analyse the identified risk factors and centres prior to bidding for road projects and carefully manage them during project execution. Originality/value Future studies of risks in road project should aim to obtain project risk indices of costs for the projects.
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Harahap, Rudy M., Andri Setiawan, Adi Subakti Kurniawan, and Merlin Mulia. "PENGUKURAN RISIKO PROYEK PADA PERUSAHAAN TEKNOLOGI INFORMASI DI INDONESIA." CommIT (Communication and Information Technology) Journal 3, no. 2 (October 31, 2009): 70. http://dx.doi.org/10.21512/commit.v3i2.517.
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The success rate of information technology (IT) projects is still low. Based on one survey done in 1990s, only about 10% of software development project could be finished according to its planned budget and schedule. Another study in 1995 found that only 16.2% IT project succeed, and at the same time more than 31% IT projects were cancelled before finished. It has been found a lot of IT projects had been implemented with swelling budget. Although it is still debatable, one of the reasons of IT project implementation failure is because risk management in some IT projects is not implemented by the IT providers. The objectives of this research are to get knowledge and assess risks in implementing IT projects. This research also gives recommendations in mitigating IT project risks. In two projects that were used as sample of this research, it has been found some risks that could be happened in IT projects. That risks were then assessed based on the probability and its impact, and finally produced the recommendation for risk mitigation. All risks are described in the Risk Priority, moreover risk probability and impact is described in the probability-impact matrix from all of 4 levels. This research could improve the awareness of IT providers in Indonesia about the important of implementing IT risk management so that more IT projects in Indonesia could be run successfully.Keywords: Risk assessment, information technology project, impact, frequency
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Mahmoud, Hasan, Vian Ahmed, and Salwa Beheiry. "Construction Cash Flow Risk Index." Journal of Risk and Financial Management 14, no. 6 (June 13, 2021): 269. http://dx.doi.org/10.3390/jrfm14060269.
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As investment increases in capital projects, financial risks increase, and cash flow prediction and control become more paramount. Higher risks could hinder project performance and increase the chances of failure in multiple aspects of a project. While there are models that aim to assess and forecast risks in the construction industry, none present a technique to include the impact of risks on a project’s cash flow. Therefore, cash flow forecasts tend to exceed the actual cash flow of a project due to inaccurate risk assessment. Thus, this paper presents the Cash Flow Risk Index (CFRI) development process quantifying the impact of risks on a project’s cash flow from an owner’s perspective. To that end, the study explored the literature to identify the risk factors that might impact a construction projects’ cash flow and uncovered 44 factors. The study also validated and consolidated these factors to build a CFRI via a Delphi exercise, which reduced the factors from 44 to 36. In further iterations, the 36 factors were also shared with 32 construction industry professionals to rate their relative importance on a five-point Likert scale, from which relative importance index and weights were obtained. As a result, the CFRI was developed to measure the impact of different risk factors on a typical construction project’s cash flow.
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Silveira, Franciane Freitas, Rosária de F. S. Macri Russo, Irapuan Glória Júnior, and Roberto Sbragia. "Systematic Review of Risks in Domestic and Global IT Projects." Journal of Global Information Management 26, no. 1 (January 2018): 20–40. http://dx.doi.org/10.4018/jgim.2018010102.
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The development of information technology projects is no longer limited to the domestic sphere. This study identifies the differentiation of risk categories between global and domestic projects through an exploratory research carried out by means of a systematic literature review. 1367 risks were identified in 37 articles and classified within 22 categories. The major concern regarded in domestic project management was the client (external risk) and scope (internal risk) and, in global project management, the psychic distance (external) and coordination and control (internal). The main difference between the risk categories for each project type refers to the psychic distance category, which was identified almost exclusively in global projects, thus making the external risks more relevant than those in domestic projects. On the other hand, it makes risks such as client, supplier and stakeholders be underestimated. The results indicate that project managers should focus on different risks depending on the type of IT project: global or domestic.
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Sohrabinejad, Azadeh, and Mehdi Rahimi. "Risk Determination, Prioritization, and Classifying in Construction Project Case Study: Gharb Tehran Commercial-Administrative Complex." Journal of Construction Engineering 2015 (October 13, 2015): 1–10. http://dx.doi.org/10.1155/2015/203468.
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Construction projects play an important role in infrastructure projects in developing countries. According to type, size, and complexity of the project, the number and importance of each risk could be different and many projects cannot reach the project goals due to exposure to multiple risks. Many papers have been published on the subject of risk management in construction projects; unfortunately most of them have not been implemented in practical conditions. The aim of this study is to identify and prioritize risks in construction projects. The classical approach used probability and impact for risk assessment, but these criteria do not sufficiently address all aspects of projects risks and there might be a relationship between different criteria. This study proposes the hierarchical dependencies between criteria. A case study of construction project is presented to illustrate performance and usage of the proposed model. Utilizing library studies and interview with experts, managers, and specialists, decision criteria were identified through brain storming. Risks were categorized by the experts into eleven risks. Important risks were evaluated based on the fuzzy ANP, fuzzy DEMATEL, and fuzzy TOPSIS methods. The proposed model is more suitable than the traditional decision-making methods in prioritizing risk concerning cost, time, and quality.
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Zhu, Rong Jie, Ying Peng, and Yang Sun. "The Research of Risk Management in Project Contracts." Applied Mechanics and Materials 357-360 (August 2013): 2546–49. http://dx.doi.org/10.4028/www.scientific.net/amm.357-360.2546.
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The risk of project contracts is the uncertainty that exists alongside a contract. It is the pressing issue for contractors to prevent and control risks as the peculiarity of building projects brings about series of uncertain risks. By going through the management process of contracts for construction projects, this thesis analyzes the sources of risks and gives ideas and suggestions for designing effective measures to avoid project contracts risks.
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Orel, T. V., and I. V. Korneeva. "Risk management of an investment project in the manufacturing sector." Normirovanie i oplata truda v promyshlennosti (Rationing and remuneration of labor in industry), no. 9 (September 1, 2021): 44–52. http://dx.doi.org/10.33920/pro-3-2109-06.
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Planning investment projects involves the need to study the risks that affect the profitability of projects. Otherwise, such investment projects can lead to significant losses. Therefore, timely identification and management of all risks of an investment project is of particular importance.
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Orel, T. V., and I. V. Korneeva. "Recommendations for risk management of the company’s investment project." Normirovanie i oplata truda v promyshlennosti (Rationing and remuneration of labor in industry), no. 11 (November 1, 2021): 44–54. http://dx.doi.org/10.33920/pro-3-2111-04.
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Planning investment projects involves the need to study the risks that affect the profitability of projects. Otherwise, such investment projects can lead to significant losses. Therefore, timely identification and management of all risks of an investment project is of particular importance.
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Siddique, Lubna, and Bassam A. Hussein. "Managing risks in Norwegian Agile Software Projects: Project Managers´ perspective." International Journal of Engineering Trends and Technology 41, no. 2 (November 25, 2016): 56–65. http://dx.doi.org/10.14445/22315381/ijett-v41p211.
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Rostami, Ali, and Chike F. Oduoza. "Key risks in construction projects in Italy: contractors’ perspective." Engineering, Construction and Architectural Management 24, no. 3 (May 15, 2017): 451–62. http://dx.doi.org/10.1108/ecam-09-2015-0142.
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Purpose Risks play an important role in the success of construction projects. Failure in identification and assessment of risks can lead to inadequacy in the process of managing risks, which in turn can critically affect the projects’ resources. A formal risk management is rarely practised in construction projects due to the lack of contractors’ awareness of key risks. The purpose of this paper is to focus on the investigation of risk factors in construction projects in Italy from contractors’ perspective. Design/methodology/approach Semi-structured interviews were conducted to collect data, based on which a total of ten key risks were ascertained. The identified risks were compared with the findings of the surveys conducted in the Australian and Chinese construction industry to address the unique risks associated with construction projects in Italy. Findings The key risks included delays in payments, client variations, design variations, inaccurate cost estimates, and tight project schedules. The comparison between those three countries specified the delays in payments and project funding problems as the most critical factors that are related to cultural influences and behaviour of clients. The findings assist contractors in the risk identification process, and can be applied to the development of a risk management framework for construction projects. Research limitations/implications The findings of this study cannot be generalised statistically for the whole of Italy as it was constrained geographically, with respondents drawn only from a self-selection sample of construction projects in the Veneto region of Northern Italy. The findings represent a snapshot of the key potential internal and external risks from the perspective of contractors. Originality/value The results of the study specified the key risks of construction projects from the perspective of contractors which can contribute to risk management for construction projects.
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LEE, O. K. D., and D. V. BABY. "MANAGING DYNAMIC RISKS IN GLOBAL IT PROJECTS: AGILE RISK-MANAGEMENT USING THE PRINCIPLES OF SERVICE-ORIENTED ARCHITECTURE." International Journal of Information Technology & Decision Making 12, no. 06 (November 2013): 1121–50. http://dx.doi.org/10.1142/s0219622013400117.
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Risk management in global information technology (IT) projects is becoming a critical area of concern for practitioners. Global IT projects usually span multiple locations involving various culturally diverse groups that use multiple standards and technologies. These multiplicities cause dynamic risks through interactions among internal (i.e., people, process, and technology) and external elements (i.e., business and natural environments) of global IT projects. This study proposes an agile risk-management framework for global IT project settings. By analyzing the dynamic interactions among multiplicities (e.g., multi-locations, multi-cultures, multi-groups, and multi-interests) embedded in the project elements, we identify the dynamic risks threatening the success of a global IT project. Adopting the principles of service-oriented architecture (SOA), we further propose a set of agile management strategies for mitigating the dynamic risks. The mitigation strategies are conceptually validated. The proposed framework will help practitioners understand the potential risks in their global IT projects and resolve their complex situations when certain types of dynamic risks arise.
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A.E., Mitenkova, and Mitenkova E.N. "The problem of model selection of the capital projects implementation." Ekologiya i stroitelstvo 2 (2015): 22–24. http://dx.doi.org/10.35688/2413-8452-2015-02-005.
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Nowadays many companies which plan to expand their business by construction of new facilities, face with the need in capital projects implementation and the choice of a contracting model. The author considers common used contracting models of capital projects: an EPC-contracts and an EPCM-contracts. In the article the authors give the definition of these two types of contracts. To a great extent the success of a capital project depends on the management of capital projects, including the process of capital project’s contracting. That is why, the author examines the advantages and disadvantages of each contracting models. Also the authors compare EPC-contracts and EPCM-contracts of capital project’s contracting in terms of sharing of risks between the participants of a capital project: a company-sponsor and a contractor, which is responsible for implementation a capital project. The authors consider such risks associated with the implementation of a capital project as a risk of non-completion a project on time, a risk of increasing a lump sum fixed price of a capital project, a risk of poor implementation of a capital project and a risk of financial responsibility in the case of debt. Comparative analysis of EPC-contracts and EPCM-contracts for capital projects showed that EPCM-contracts have more advantages, because they provide more freedom to a company-sponsor to monitor the implementation of capital projects, and allow to significantly reduce costs and increase return on equity, especially if a company-sponsor has a wide experience in implementation of capital projects.
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Bovteev, S. V., and Q. R. Huraini Nadim. "Classifications and parameters of risks of construction projects." Вестник гражданских инженеров 18, no. 6 (2021): 79–86. http://dx.doi.org/10.23968/1999-5571-2021-18-6-79-86.
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Construction project risk management is a comprehensive process of identifying, classifying, evaluating and continuously monitoring project risks at all its stages. The article analyzes the very concept of risk, identifies the difference between risks, uncertainties and constraints, and examines the various risk classifications that may be associated with construction projects. A methodology is proposed for correlating risks with the project as a whole, with work packages, individual activities, resources or resource’s assignments of the construction project. The impact of risks on the main parameters of a construction project is analyzed. The functions of risk probability distribution are considered depending on the project implementation time.
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Kaka HamaAttar, Khanm Noori. "THE EFFECT OF MANAGING RISK PROCESS IN CONSTRUCTION PROJECTS." International Journal of Engineering Technologies and Management Research 5, no. 4 (February 26, 2020): 101–14. http://dx.doi.org/10.29121/ijetmr.v5.i4.2018.214.
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The aim of this study is to get a better understanding for the effect of the set of the risks in the construction projects, in addition to how mitigating these risks in those projects. Indeed risks are frequently playing the same rules, but the nature of project defines the specific risks of the project. The first step in process of risks assessment is identification them. Once risk identification is complete, risk analysis is used to identify the likelihood the risks that have been identified will happen. Thus by using evidence from other research in the area, this study showed the impact of the set of the stages in the risk management process in the construction projects, which were discussed in greater detail in the theoretical aspect of the current study. The findings of the study were revealed the fact that the comprehension of risk and its management has the direct effect of understanding specific issues that involve to the project. In addition to that, the integration of a risk management process at each stage of its stages in construction projects must be oriented to the progress of the project and permeate all areas, functions and processes of the project. In this regard, the most successful project managers maintain open lines of communication throughout their organizations to stay in touch with constituent’s needs.
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Chechenova, Liana M., Natalia V. Volykhina, and Yuriy V. Egorov. "Alternative approach to analysis of risks affecting the efficiency of implementing the investment project in the conditions of global instability of economic space." SHS Web of Conferences 74 (2020): 06009. http://dx.doi.org/10.1051/shsconf/20207406009.
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This article is devoted to the study of improving the use of expert assessments for risk analysis, affecting the effectiveness of the implementation of a comprehensive investment project in the global instability of the economic space. The existing methods of expert assessments and Monte-Carlo simulation methods used to identify and assess the risks of investment projects are described. A systematic analysis of the main risks of investment projects in the context of globalization and risk management methods was carried out. The author’s classification of risks of investment projects using the criteria of economic efficiency has been developed. An approach to risk analysis, affecting the effectiveness of the implementation of complex investment projects based on existing methods using the concept of the “reduced” random factor, is proposed. This approach is used to analyse project implementation risks in the conditions of market instability with the development of recommendations for managing the main project risks. The author’s risk classification of investment projects is important at the stage of analysing risks arising from the study of sales markets, as well as during the management decision-making process, which minimizes the possible adverse impact on an organization, including losses caused by random events. The proposed approach can be applied to the analysis, express-analysis and risk management of long-term complex investment projects in the conditions of global instability of the economic space.