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Article
Publication date: 23 January 2009

Hynuk Sanchez, Benoit Robert, Mario Bourgault and Robert Pellerin

The purpose of this paper is to present a review of recent risk management literature applied to projects, programs and project portfolios performed inside an organization with…

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Abstract

Purpose

The purpose of this paper is to present a review of recent risk management literature applied to projects, programs and project portfolios performed inside an organization with the aim of finding areas of opportunity to continue research and the development of current guides and methodologies.

Design/methodology/approach

The paper uses a review of recent literature published by international organizations and journals specializing in the field of project, programs, and portfolios.

Findings

The review shows that project risk management is a well developed domain in comparison to the program risk management and portfolio risk management fields, for which specifically written methodologies are difficult to find. The review also demonstrates the need to include better tools to perform a continuous control and monitoring process. Integrating a vulnerability approach is also necessary in order to consider the project, program or portfolio characteristics which mediate between consequences and the exposure to hazards and opportunities.

Research limitations/implications

The review does not consider white papers or popular media.

Originality/value

The limitations found in current risk management methodologies show the challenges researchers must undertake to continue improving this domain for projects performed inside an organization. The paper exhibits the areas of opportunity where methodologies and guides can be further improved to evolve towards better management structures.

Details

International Journal of Managing Projects in Business, vol. 2 no. 1
Type: Research Article
ISSN: 1753-8378

Keywords

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Article
Publication date: 23 January 2009

Derek H.T. Walker

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Abstract

Details

International Journal of Managing Projects in Business, vol. 2 no. 1
Type: Research Article
ISSN: 1753-8378

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Article
Publication date: 19 April 2018

Rahul Dandage, Shankar S. Mantha and Santosh B. Rane

The purpose of this paper is to review the risk categories which are predominant in international projects and to rank them according to their effect on project success.

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Abstract

Purpose

The purpose of this paper is to review the risk categories which are predominant in international projects and to rank them according to their effect on project success.

Design/methodology/approach

A literature survey of peer-reviewed journal articles, survey reports and books on project management is used as the research methodology. One among the various multi-criteria decision making methods named as Technique for Order Preference by Similarity to the Ideal Solution (TOPSIS) has been used to rank the risk categories according to their importance. The data for TOPSIS were collected through questionnaire as the research instrument.

Findings

The findings derived from evaluation of the publications led to the identification of eight different types of risk categories associated with international projects. The TOPSIS method resulted into political risks, technical risks and design-related risks as the top three risk categories in international projects. Contractual and legal risks and fraudulent practices-related risks are relatively low-ranked risk category.

Research limitations/implications

The findings will be useful in successful implementation of international projects as the knowledge of risk categories and their ranking will help project manager to plan the risk response strategies. A larger sample size for decision makers and more variety of projects can give more exhaustive risk categories and their ranking.

Practical implications

This paper explores eight different risk categories in international projects. It represents the ranking of risk categories according to their importance in project success. This will be helpful to project managers for developing a general framework for planning the appropriate risk response strategies.

Social implications

Governments of many countries around the world are encouraging their industries to undertake and successfully complete projects in foreign countries. However, many industries experience failure in projects as they fail to implement the risk management (RM) effectively in international projects. This research work provides the risk categories in international projects and their ranking which can assist in developing strategies to respond the risk appropriately.

Originality/value

This paper uses the TOPSIS method for ranking major types of risk categories in international projects. It might represent new opportunities for rigorous and relevant research that would contribute to an in-depth knowledge of RM methodologies.

Details

International Journal of Managing Projects in Business, vol. 11 no. 2
Type: Research Article
ISSN: 1753-8378

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