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Shedding New Light on Project Portfolio Risk Management

Author

Listed:
  • Mariusz Hofman

    (Faculty of Economics, Maria Curie-Sklodowska University, Maria Curie-Sklodowska 5, 20-031 Lublin, Poland)

  • Seweryn Spalek

    (Faculty of Organisation and Management, Silesian University of Technology, Akademicka 2A, 44-100 Gliwice, Poland)

  • Grzegorz Grela

    (Faculty of Economics, Maria Curie-Sklodowska University, Maria Curie-Sklodowska 5, 20-031 Lublin, Poland)

Abstract

This paper constitutes an innovative attempt to analyse the risks and negative phenomena dependencies within a project portfolio. Based on the available literature, the risks and negative phenomena (that is, the problems with the availability of resources, interpersonal conflicts, irregularities in the portfolio balance, etc.) specific to a project portfolio were identified. Theoretical constructs were then used to connect the identified risks with the negative phenomena. Structural equations were used to confirm the existence and quality of these constructs, as well as models describing connections between phenomena. The determination of the structural equations also provided a setting in which statistical methods (χ 2 , RMSEA and CFI) could be used to investigate the level of fit of the constructs and models to the empirical data.

Suggested Citation

  • Mariusz Hofman & Seweryn Spalek & Grzegorz Grela, 2017. "Shedding New Light on Project Portfolio Risk Management," Sustainability, MDPI, vol. 9(10), pages 1-19, October.
    • Handle: RePEc:gam:jsusta:v:9:y:2017:i:10:p:1798-:d:114090
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    References listed on IDEAS

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    1. Beringer, Claus & Jonas, Daniel & Kock, Alexander, 2013. "Behavior of Internal Stakeholders in Project Portfolio Management and Its Impact on Success," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 63280, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    2. Kopmann, Julian & Kock, Alexander & Killen, Catherine & Gemünden, Hans Georg, 2017. "The role of project portfolio management in fostering both deliberate and emergent strategy," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 92881, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    3. Teller, Juliane & Unger, Barbara & Kock, Alexander & Gemünden, Hans Georg, 2012. "Formalization of Project Portfolio Management: The Moderating Role of Portfolio Complexity," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 63283, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    4. von der Gracht, Heiko A., 2012. "Consensus measurement in Delphi studies," Technological Forecasting and Social Change, Elsevier, vol. 79(8), pages 1525-1536.
    5. Kun Chang Lee & Namho Lee & Honglei Li, 2009. "A particle swarm optimization‐driven cognitive map approach to analyzing information systems project risk," Journal of the American Society for Information Science and Technology, Association for Information Science & Technology, vol. 60(6), pages 1208-1221, June.
    6. Teller, Juliane & Kock, Alexander & Gemünden, Hans Georg, 2013. "Risk Management in Project Portfolios Is More than Managing Solely Project Risks: A Contingency Perspective on Risk Management," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 63314, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    7. Beringer, Claus & Jonas, Daniel & Kock, Alexander, 2013. "Behavior of Internal Stakeholders in Project Portfolio Management and Its Impact on Success," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 63318, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    8. Teller, Juliane & Kock, Alexander, 2013. "An Empirical Investigation on How Portfolio Risk Management Influences Project Portfolio Success," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 63248, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    9. Shan Rajegopal & Philip McGuin & James Waller, 2007. "Project Portfolio Management," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-20649-6, August.
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    Cited by:

    1. Camilo Micán & Gabriela Fernandes & Madalena Araújo, 2022. "Disclosing the Tacit Links between Risk and Success in Organizational Development Project Portfolios," Sustainability, MDPI, vol. 14(9), pages 1-19, April.
    2. Jonek-Kowalska, Izabela, 2019. "Consolidation as a risk management method in the lifecycle of a mining company: A novel methodological approach and evidence from the coal industry in Poland," Resources Policy, Elsevier, vol. 60(C), pages 169-177.

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