How to measure the effectiveness of risk management in engineering design projects? Presentation of RMPASS: a new method for assessing risk management performance and the impact of knowledge management—including a few results

Kloss-Grote, Benjamin; Moss, Michael A.

doi:10.1007/s00163-008-0049-y

Cited by 28 publications

(18 citation statements)

References 30 publications

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“…This is a first significant result, as it increases the Identification Efficiency index introduced by Kloss-Grote and Moss (2008). Six of the risks which were present in the initial list (R 1 , R 8 , R 11 , R 15 , R 23 and R 34 ) were considered as poorly interrelated with others and possibly negligible for this study.…”

Section: Case Study: Analysis Of the Existing Organisationmentioning

confidence: 96%

“…Propagation effects throughout the project structure are likely to notably reduce the performance of the risk management process . Particular attention should be paid to this performance since poor or delayed risk mitigation decisions may have great potential consequences in terms of crisis, underachievement of objectives and avoidable waste (Kloss-Grote and Moss 2008).…”

Section: Introductionmentioning

confidence: 99%

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Project risk management processes: improving coordination using a clustering approach

Marle

Vidal

2011

Res Eng Design

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Projects are dealing with bigger stakes and facing an ever-growing complexity. In the first place, project risks have increased in number and criticality. Lists of identified project risks thus need to be broken down into more manageable clusters. Existing techniques for this are generally based on a well-known parameter such as the nature of the risk or its ownership. The limits of this approach are that project risk interactions are not properly considered.Project interdependent risks are thus often analysed and managed as if they were independent. The consequence is that there may be a lack of consideration of potential propagation through this risk network. A change may have dramatic consequences if the propagation chain is not clearly identified and/or not managed. Our objective in this paper is to propose a methodology for grouping risks so that the project risk interaction rate is maximal inside clusters and minimal outside. What we hope to achieve is a method which facilitates the coordination of complex projects which have many interrelated risks with many different risk owners. We contend that the capacity of risk owners to communicate and make coordinated decisions will be improved if they are grouped in such a way. This proposed reconfiguration of organisation is complementary to existing configurations. To do this, we first model project risk interactions through matrix representations. Then, the mathematical formulation of the problem is presented and two heuristics are introduced. A case study in the civil engineering industry (a large infrastructure public-private partnership project) is presented, which enables us to propose global recommendations, conclusions and perspectives.

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Section: Case Study: Analysis Of the Existing Organisationmentioning

confidence: 96%

Section: Introductionmentioning

confidence: 99%

Project risk management processes: improving coordination using a clustering approach

Marle

Vidal

2011

Res Eng Design

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“…Examples of successful risk management are reported by Kloss-Grote and Moss (2008) in the aerospace industry, Raz et al (2002) in high risk industrial projects, and by Elkinton and Smallman (2002) in the British utilities sector. However, reported examples of risk management successes in infrastructure projects seem quite seldom, if existing at all.…”

Section: Introductionmentioning

confidence: 94%

Innovative Ways to Implement Risk Management in Infrastructure Projects

Staveren¹,

Th²

2014

Vulnerability, Uncertainty, and Risk

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In this paper an innovative, scientifically developed, and in practice tested approach for implementing risk management in infrastructure projects is introduced. There are two main objectives of this paper: (1) raising awareness about the inherent and often undervalued complexity of implementing risk management and (2) providing a route to implementing risk management in infrastructure projects. The innovative approach focuses on developing organizational conditions for effectively, cost-efficiently, and routinely applying risk management by balancing three dimensions: (1) the risk management method, (2) the project organization, and (3) the individual human factor. For facilitating, designing, and executing a well-planned risk management implementation process, a toolbox has been developed. Using this risk management implementation toolbox in over 15 organisations proved to facilitate embedding risk management in projects. Because the presented organization-focused and managerial way of risk management implementation is still rather new, a lot of additional researches on this topic is highly recommended.

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“…We refer to such potential events which may affect positively or negatively project activities and project results as project risks. Risk analysis is an indispensable activity for project management, even more for complex projects dealing with large stakes and involving interdependent tasks and organizations (Eckert et al 2004, Kloss-Grote andMoss 2008). In classical PRM, risk analysis is used for evaluating and prioritizing risks, essentially with respect to their probability and impact (Chapman andWard 2003, PMI 2008).…”

Section: Introductionmentioning

confidence: 99%

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

Fang

Marle

2013

Journal of Engineering Design

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How to measure the effectiveness of risk management in engineering design projects? Presentation of RMPASS: a new method for assessing risk management performance and the impact of knowledge management—including a few results

Cited by 28 publications

References 30 publications

Project risk management processes: improving coordination using a clustering approach

Project risk management processes: improving coordination using a clustering approach

Innovative Ways to Implement Risk Management in Infrastructure Projects

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

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