IDEAS home Printed from https://ideas.repec.org/a/brc/journl/v17y2012i3p67-73.html
   My bibliography  Save this article

Ways To Improve Risk Management In Complex Projects

Author

Listed:
  • Emilia IORDACHE

    () (“Constantin Brâncoveanu” University, Romania)

Abstract

Risk is present in all human activities; it can be associated with health, security, economy or environment. The goal of risk management is to control, prevent or decrease potential damages. Technically speaking, risk management means all the activities coordinated so as to orient and monitor an organization from the risk perspective. Risk management helps formulate the most adequate decisions by taking account of uncertainties and their effects upon the accomplishment of proposed goals, and argues the need to lay down and implement coercive, preventive actions typical of the management of a company. The benefits of good risk management and also the consequences of bad management shall undoubtedly be felt by an organization’s board, employees, shareholders, customers as well as by all other entities concerned with organizational performance. Projects generally include a number of risks in common with those in business as well as certain typical ones. In complex projects, it is this very feature – complexity – which generates the need to implement risk management for the purpose to diminish, remove, and monitor the risks which can influence the development of a project.

Suggested Citation

  • Emilia IORDACHE, 2012. "Ways To Improve Risk Management In Complex Projects," Management Strategies Journal, Constantin Brancoveanu University, vol. 17(3), pages 67-73.
  • Handle: RePEc:brc:journl:v:17:y:2012:i:3:p:67-73
    as

    Download full text from publisher

    File URL: http://www.strategiimanageriale.ro/papers/120306.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. repec:eee:touman:v:33:y:2012:i:1:p:215-224 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    risk; risk management; complex projects; planning;

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:brc:journl:v:17:y:2012:i:3:p:67-73. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dan MICUDA). General contact details of provider: http://www.univcb.ro/ .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.