Value creation through project risk management

Abstract

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Risk, uncertainty, ignorance and myopia: Their managerial implications for B2B firms

“…Very simply, for example, consider situations with unclear or conflicting objectives-what are 'risks' under those circumstances (Aven, 2012). It is an interesting paradox that risk management focusses on uncertainty and its potential impact, yet the prescriptions found in the risk management literature can be shrouded in uncertainty and hidden assumptions (Willumsen, Oehmen, Stingl, & Geraldi, 2019). In practice, risk management ranges from gut-feeling-based risk matrices with illdefined (or undefined) evaluation scales for probability and impact (Cox Jr., 2009), to highly sophisticated quantitative models (Allen, 2012;Jaynes et al, 2003).…”

“…These foundational issues in risk management create challenges for practitioners. For example, risk management should be customized (ISO, 2018;Oehmen et al, 2014) as different risk management practices vary in their ability to create value in different contexts (Willumsen, Oehmen, Stingl, & Geraldi, 2019). The clear implication for the current COVID-19 crisis (that arguably affects all companies), there will be no 'one size fits all' risk management solution.…”

“…• Conflicting definitions of 'risk' and 'risk management' (Aven, 2012(Aven, , 2016Aven & Renn, 2019) • Articulation of organizational value of risk management (Willumsen, Oehmen, Stingl, & Geraldi, 2019) • One-size-fits-all expectation of risk management standards vs. need for customization (Oehmen, Olechowski, Robert Kenley, & Ben-Daya, 2014) • Idealized formal risk management neglects actual risk management (including its informal aspects) (Ahlemann, El Arbi, Kaiser, & Heck, 2013;Elmar Kutsch & Hall, 2010) • Choice of appropriate risk management methods for given decision context and data quality (Tegeltija, 2018) 2. Management of uncertainty (Section 3)…”

Machine-Learning Based Model for Improving Effort Estimation using Risk

“…A study on effort estimation and risk analysis reveals that "risk and effort estimation go hand in hand" and it is important to be considered in the estimation process [11]. In a study on software development effort estimation it is stated that risk is also an important parameter that contributes to reasons for deviations between effort estimates and actual effort [12]. It is indicated in many studies that estimates done at the start of the project will be less accurate than the estimates done at the later phases of the project, due to involvement of risks in the various stages.…”

Avaliação Do Gerenciamento De Riscos Para Desenvolvimento De Novos Produtos E Tecnologia: Revisão Integrativa De Literatura

“…Isso inclui envolvimento constante com as partes interessadas, considerando o contexto ambiental, da gestão, do desenvolvimento do produto ou processo, tal como fatores humanos e culturais [5]. O que determina uma tarefa fundamental para a organização [6], mas muitas vezes não agregam valor ao processo, representando apenas como gerenciar um modo de falha de forma "automática". Usar análise de multi-categorias é uma importante prática, pois agrega diferentes fatores.…”