Project Risk Management Practices

How can the current Project Risk Management practices surrounding medium construction projects be optimized?

More Info
expand_more

Abstract

Multiple instruments and procedures are used within the different project management areas in order to execute projects in an efficient and controllable way. Project Risk Management (PRM) has become over the past years a crucial part of the project management practices and is seen by many practitioners as a key factor to go towards more successful projects. More and more organizations are adopting this practice in an effort to achieve a better strategic alignment, increase the project success, and optimize the utilization of their resources. The research aims at generating new insights in the field of project risk management. This was done by investigating the main tenets of the risk management theory and by comparing it to empirical data gathered through a case study. Several short-, medium-, and long- term recommendation were made based on a Risk Maturity Model.