Project risk management: A deterministic quantitative technique for assessment and mitigation

Muriana, Cinzia; Vizzini, Giovanni

doi:10.1016/j.ijproman.2017.01.010

Cited by 100 publications

(69 citation statements)

References 30 publications

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“…Therefore, there is a presence of stakeholder theory in this important project knowledge area, which is fundamental in assessing project performances. The influence of stakeholder theory in project risk management can be observed in the study of structured mechanisms to assess the risks associated with stakeholder management, as well as to design risk prevention and mitigation strategies [33].…”

Section: Introductionmentioning

confidence: 99%

What Is Going on with Stakeholder Theory in Project Management Literature? A Symbiotic Relationship for Sustainability

2018

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Nowadays the advance towards sustainability poses a global challenge for modern society as well as for companies. Professionals and academics continually redefine business processes and design management mechanisms in a more appropriate way in order to allow companies to balance economic activity with the environmental and social impact that they generate. Under this complex and dynamic scenario, creating a product, providing a service, or achieving a given result requires a different interpretation of the efficiency paradigm and an adequate socio-environmental intelligence. In the context of project management, sustainability-related knowledge, skills, and suitable tools are necessary to face this challenge. Moreover, its close relationship with stakeholder theory presents an alternative to approach that purpose. This article attempts a systematic review of the literature on stakeholder theory in project management during the past nine years, with the aim of providing a comprehensive view of this relationship, revealing its impact and influence on sustainability, and finding new research paths. We highlight the potential benefits derived from this relationship, either as an instrument for the promotion of corporate social responsibility and inclusive policies, as a means for the generation of shared value and technological innovation, or as a key factor in the strategy and business management of a given project.

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Section: Introductionmentioning

confidence: 99%

What Is Going on with Stakeholder Theory in Project Management Literature? A Symbiotic Relationship for Sustainability

2018

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“…It extracts valuable information by analyzing original data. Usually, the weights of each index in this method are determined using mathematical calculations [26,27]. Therefore, it can reflect the importance of indexes' authenticity better in the comprehensive evaluation [28].…”

Section: Weight Determination By the Variation Coefficient Methodsmentioning

confidence: 99%

Energy Sustainability Evaluation Model Based on the Matter-Element Extension Method: A Case Study of Shandong Province, China

2017

Sustainability

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Abstract:Energy sustainability is of vital importance to regional sustainability, because energy sustainability is closely related to both regional economic growth and social stability. The existing energy sustainability evaluation methods lack a unified system to determine the relevant influencing factors, are relatively weak in quantitative analysis, and do not fully describe the 'paradoxical' characteristics of energy sustainability. To solve those problems and to reasonably and objectively evaluate energy sustainability, we propose an energy sustainability evaluation model based on the matter-element extension method. We first select energy sustainability evaluation indexes based on previous research and experience. Then, a variation coefficient method is used to determine the weights of these indexes. Finally, the study establishes the classical domain, joint domain, and the matter-element relationship to evaluate energy sustainability through matter-element extension. Data from Shandong Province is used as a case study to evaluate the region's energy sustainability. The case study shows that the proposed energy sustainability evaluation model, based on the matter-element extension method, can effectively evaluate regional energy sustainability.

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“…In [26], authors used a probabilistic fuzzy method and fuzzy IF-THEN rules for innovative project risk assessment while Rodríguez et al [27] employed a combination of Fuzzy Analytic Hierarchy Process (FAHP) and Fuzzy Inference System (FIS) for assessing risks of information technology projects. Muriana & Vizzini [28] proposed a deterministic technique for assessing and preventing project risks, with regard to cost, schedule, and quality at determined time steps, which are called WPS. the effect of seasonal type uncertainty (weather conditions) on some activities by means of Monte Carlo simulation is analyzed by Acebes et al [29].…”

Section: Methods For Assessment and Management Of Risk And Uncertaintymentioning

confidence: 99%

Simulating the Impact of Activity Uncertainties and Risk Combinations in R&D Projects

Chenarani¹,

Дружинин²,

Kritskiy³

2017

JESTR

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The quantifiable consequences of uncertainty are simulated and analyzed for R&D projects. These consequences include variation in duration and cost of activities and the presence of risk factors in project. Categorizing risks into four types is proposed according to their impact on the main constraints of the project. The most prominent type of risk in R&D projects is the rework risk but common software packages for project management are not able to simulate them. A discrete event based Monte Carlo simulation method is employed for project simulation. The required project and risk data for simulation are represented by means of dependency structure matrix (DSM). For calculating the effects of rework risk, BFS graph traversal algorithm is used. A simulation program is developed and implemented in a small turbojet engine preliminary design project. The results of this research can improve the effectiveness of decision-making process by project manager where choosing appropriate method for reducing risk effects under uncertainty conditions is required.

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Project risk management: A deterministic quantitative technique for assessment and mitigation

Cited by 100 publications

References 30 publications

What Is Going on with Stakeholder Theory in Project Management Literature? A Symbiotic Relationship for Sustainability

What Is Going on with Stakeholder Theory in Project Management Literature? A Symbiotic Relationship for Sustainability

Energy Sustainability Evaluation Model Based on the Matter-Element Extension Method: A Case Study of Shandong Province, China

Simulating the Impact of Activity Uncertainties and Risk Combinations in R&D Projects

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