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The Use of the Risk Management Procedure in Hi Tech Project Management

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  • Israel Michael Nachzac

    (Poznan University of Economics and Business, Poznan, Poland)

Abstract

To start doing anything a man should have an impulse. The author’s motivation to investigate the issue of "Risk Management Procedure in Hi Tech Project Management" derives from the commercial world of managing hi-tech projects. Such an impulse in the entrepreneurial world is called an entrepreneurial intention (B. Bird 1988). The 21stcentury technology is characterised by development and implementation of sophisticated products, which are subjected tovarious risks and incredible market competitiveness. The management of conventional and traditional projects hasobjective difficulties to cover all management components dictated by risks and the competitive market. The paper’s aimis to deal with the question of “whether risk factors receive enough attention by management?” and recommendexpanding the awareness among all the management and use risk management which will help with improving the abilityto cope with the management difficulties. Based on the author questionnaire results it was found that risk management should be part of project management, which fully meets the PMs’ expectations and has been found to meet the hypothesis assumptions.

Suggested Citation

  • Israel Michael Nachzac, 2020. "The Use of the Risk Management Procedure in Hi Tech Project Management," Research Papers in Economics and Finance, Poznań University of Economics and Business, vol. 4(4), pages 31-38, March.
    • Handle: RePEc:jbl:ref000:v:4:y:2020:i:4:id:113
    DOI: 10.18559/ref.2020.4.3
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