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Developing strategies to prioritise and mitigate the risks occurring in project management practices for an agile organisation - a perspective of Industry 4.0 technologies

Author

Listed:
  • Santosh B. Rane
  • Yahya Abdul Majid Narvel

Abstract

The traditional methods of PMP lacked the capability of dealing with fast-moving, complex and varying environments. Later, agility emerged as a concept of a faster and more flexible way of working, leading towards maximising the positive outcomes and enhancing the performance of the organisation in a highly volatile environment. There are a few risks associated with agility improvement of organisations, which have been identified and prioritised in this research for strategising their mitigation. Various risks that agile organisations encounter were identified from the literature and also from the experts' survey. The identified risks were further analysed using total-ISM and fuzzy-MICMAC analysis. Lastly, strategies were developed to mitigate the risks by leveraging Industry 4.0 technologies. Risk of replicating agile models, insufficient capability building, and intellectual property risks were identified as key risks leading to other identified risks. These risks need to be mitigated to have a flawless agile organisation.

Suggested Citation

  • Santosh B. Rane & Yahya Abdul Majid Narvel, 2022. "Developing strategies to prioritise and mitigate the risks occurring in project management practices for an agile organisation - a perspective of Industry 4.0 technologies," International Journal of Productivity and Quality Management, Inderscience Enterprises Ltd, vol. 36(2), pages 208-241.
    • Handle: RePEc:ids:ijpqma:v:36:y:2022:i:2:p:208-241
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