Management of risks, uncertainties and opportunities on projects: time for a fundamental shift

Jaafari, Ali

doi:10.1016/s0263-7863(99)00047-2

Cited by 327 publications

(220 citation statements)

References 6 publications

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“…This possibility is included in the concept of risk (Courtot, 1998). In this study, the risk is considered like the possibility of occurrence of events which could be threats or opportunities (Bakir et aL, 2002) (Jaafari, 2001). …”

Section: Project and Risk Management Issuesmentioning

confidence: 99%

Understanding and Managing Shared Projects in Smes Networks

Dupont

Gourc

et al. 2005

IFIP — The International Federation for Information Processing

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Section: Project and Risk Management Issuesmentioning

confidence: 99%

Understanding and Managing Shared Projects in Smes Networks

Dupont

Gourc

et al. 2005

IFIP — The International Federation for Information Processing

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“…The price of energy has been identified as one of the most important factors affecting the cost of construction projects (Hastak & Shaked, 2000;Baloi & Price, 2003;Jaafari, 2001). Furthermore, the increase in cost of oil products has been the main cause of rises in highway construction cost (Wilmot & Cheng, 2003).…”

Section: Introductionmentioning

confidence: 99%

Accommodating Energy Price Volatility in Life Cycle Cost Analysis of Asphalt Pavements

Mirzadeh

Birgisson

2015

Journal of Civil Engineering and Management

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“…Problems stem from a number of sources including: new technologies becoming available (Floricel & Miller, 2001;Jaffe & Palmer, 1997;Miller & Lessard, 2001); complex interactions between components and within sub-systems (Nightingale, 2000;Söderlund, 2002); environmental interfaces (Stinchcombe & Heimer, 1985); and even stakeholders pressure (Scott, Levitt, & Orr, 2011). In very complex projects, these uncertainties are never fully resolved until the project ends (Jaafari, 2001). Hence, unexpected events can occur at any stage of the project lifecycle.…”

Section: Contingent Opportunitiesmentioning

confidence: 99%

“…The most successful firms ] adeptly manage all sources of uncertainty, closely monitoring progress and adapting long before changes become costly (Atkinson et al, 2006). Further, when new risks emerge, prescient firms realise that these are not necessarily negative, but can represent 'opportunities' (Jaafari, 2001;Perminova et al, 2008). Perminova et al (2008) paying close attention to these changes and opportunities in order to capitalise upon them (Loch, DeMeyer, & Pich, 2006;Zhang, 2013).…”

Section: What Adaptive Problem-solving Capabilities Look Likementioning

confidence: 99%

“…Interactions between these elements give rise to unforeseen events and problems that need to be resolved (Ahola and Davies, 2012;Atkinson et al, 2006;Davies and Frederiksen, 2010;Jaafari, 2001;Stinchcombe and Heimer, 1985). Such uncertainties may induce firms to adopt broad search patterns, because the resulting diversity of information increases the probability that a (combinatory) novel solution can be found to the problems arising from uncertain environments (Leiponen & Helfat, 2010).…”

Section: Open Innovation To Resolve Technological Interdependencementioning

confidence: 99%

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Novel product innovation in project-based firms: explaining innovation where interdependent firms deliver complex system-level outcomes

Ford¹

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Project-based firms (PBFs) are an increasingly important firm type in today's projectdriven world. Over the next two decades, PBFs will transform nearly $60 trillion into complex product systems (CoPS) that comprise the communication, energy, and transportation infrastructure of our modern global economy. In the process, they will participate in a collective technological development process that is iterative, intensely interorganisational, and dominated by their participation in large industry projects. In this environment, PBFs will deliver components, subsystems, and CoPS, some being novel products that are new to the world. These are called CoPS-related novel products.However, the current understanding of how PBFs introduce CoPS-related novel products is lacking. In general, the existing innovation literature does not provide an adequate inter-organisational perspective, which is necessary to explain the development of new The CoPS innovation literature itself remains too focused on the role of large system integrators, and not on the broader network of firms that support innovation. This leaves unscrutinised rest of the 'project-based productive network' of firms delivering products (components, technologies, and subsystems) into the higher-level CoPS. Taken together, the current literature inadequately addresses many factors that are important to novel product innovation in PBFs. Therefore, the central research question this thesis aims to answer is: What factors facilitate PBFs' ability to introduce novel product innovations in environments where interdependent firms deliver complex system-level outcomes?Three specific challenges are imperative to understanding novel product introduction in PBFs. The first relates to the project-based nature of organising, which means that PBFs have contingent opportunities for novel product innovation, depending upon the circumstances of the projects they conduct. This is called the contingent opportunities problem. The second challenge is that PBFs have to ensure that their innovations are compatible with our technologies in their environment. This is called the technological interdependencies problem. The third challenge is that PBFs have enduring interorganisational commitments that extend across the projects they conduct. This is called the enduring relationships problem.ii Novel product innovation in project-based firms Three research studies were designed and conducted to address the three specific challenges. The research is based on survey data collected from PBFs in the Australian upstream oil and gas industry. Study 1 investigates capabilities that PBFs use to overcome the contingent opportunities problems. This study finds that firms use an adaptive problemsolving capability to recognise opportunities within projects, and are reliant on networking capabilities to bring about novel product innovations. Study 2 investigates how PBFs use both inbound and outbound non-pecuniary open innovation practices to resolve technological interdependencies. This stud...

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Management of risks, uncertainties and opportunities on projects: time for a fundamental shift

Cited by 327 publications

References 6 publications

Understanding and Managing Shared Projects in Smes Networks

Understanding and Managing Shared Projects in Smes Networks

Accommodating Energy Price Volatility in Life Cycle Cost Analysis of Asphalt Pavements

Novel product innovation in project-based firms: explaining innovation where interdependent firms deliver complex system-level outcomes

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