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How to Deal with Project Risk Management Effectively in Your Organization

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  • LE BRAS, Maxime

Abstract

The management of risk inside a project should follow different steps to be more effective. According to the authors, the number of steps varies as well as the approaches, so according to the structure of an organization one process or one approach would match better. Project risk management is seen differently by senior managers or project ones, and is well perceived by the project managers whereas senior managers assume that issues coming out from a project are mainly the fault of its leader than a bad management of risks. Talking about differences, we also distinguish the operational risks from the strategic ones. We note that most of risks are operational, so shortterm view. The project risk management takes another dimension when we display it in a project portfolio. In this case, processes (steps) are close to the risk management at a project level, however the impacts and influence are getting bigger, therefore should be dealt with even more attention.

Suggested Citation

  • LE BRAS, Maxime, 2014. "How to Deal with Project Risk Management Effectively in Your Organization," Holistic Marketing Management Journal, Holistic Marketing Management, vol. 4(1), pages 26-34, March.
    • Handle: RePEc:hmm:journl:v:4:y:2014:i:1:p:26-34
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    References listed on IDEAS

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    1. Turner, J. Rodney & Müller, Ralf, 2004. "Communication and Co-operation on Projects Between the Project Owner As Principal and the Project Manager as Agent," European Management Journal, Elsevier, vol. 22(3), pages 327-336, June.
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    More about this item

    Keywords

    risk management; project management; risk overview; success; processes;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate

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