Analysis of interactions among barriers in project risk management

Abstract

In the context of the scope, time, cost, and quality constraints, failure is not uncommon in project management. While small projects have 70% chances of success, large projects virtually have no chance of meeting the quadruple constraints. While there is no dearth of research on project risk management, the manifestation of barriers to project risk management is a less dwelt topic. The success of project management is oftentimes based on the understanding of barriers to effective risk management, application of appropriate risk management methodology, proactive leadership to avoid barriers, workers' attitude, adequate resources, organizational culture, and involvement of top management. This paper represents various risk categories and barriers to risk management in domestic and international projects through literature survey and feedback from project professionals. After analysing the various modelling methods used in project risk management literature, interpretive structural modelling (ISM) and MICMAC analysis have been used to analyse interactions among the barriers and prioritize them. The analysis indicates that lack of top management support, lack of formal training, and lack of addressing cultural differences are the high priority barriers, among many others.

A solution for funding the development of technology in oilwell drilling

“…As the development of new technologies is a riskbased activity, typical barriers are interposed, like resistance from managers, high costs of risk management and difficulties in managing risk sceneries (Dandage et al 2017). Most common paths for testing new technologies:…”

Integrated Evaluation of the Impediments to the Adoption of Coconut Palm Wood as a Sustainable Material for Building Construction

“…The use of the integrated interpretive structural modelling (ISM) and cross-impact matrix multiplication applied to classification (MICMAC) techniques by researchers in the area of construction has been gaining ground in recent years. Quite a number of researchers in the field of construction [26,[46][47][48][49][50][51][52][53][54] have used the interpretive structural modelling (ISM) and cross-impact matrix multiplication applied to classification (MICMAC) techniques to examine the hierarchical structure between the impediments to a given system or process. Also, the techniques have been used to transform the impediments into clearly visible, easy to understand and quickly interpretable models, based on direct and indirect relationships among the impediments of a system.…”

Organizational factors influencing project success: an assessment in the automotive industry

“…In the context of project management, it is important that managers receive training to develop interpersonal and technical skills (Ramazani, & Jergeas, 2015), which usually increases the motivation of project teams (Lin et al, 2017). Dandage et al (2018) verified that the lack of formal training to employees is one of the top priority barriers that affect effective implementation of risk management in projects. This leads to the last hypothesis:…”

“…Bredin & Söderlund, 2011;Brem & Wolfram, 2017;Ekrot et al, 2016;Lu et al, 2017;Martinsuo & Hoverfält, 2018). Those organizational factors can be grouped into the following dimensions (Dezdar & Ainin, 2011;Shao, 2018;Wai et al, 2013): top management support (Brem & Wolfram, 2017;Ekrot et al, 2016), communication (Pinto & Mantel, 1990;Wu et al, 2017), change management (Hwang & Low, 2012;Martinsuo & Hoverfält, 2018), organizational culture (Situmeang et al, 2017), and training (Dandage et al, 2018;Ramazani & Jergeas 2015).…”