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Project Management and Risks Administration

Author

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  • Vasile ZECHERU

    () (The University Of Agronomic Science and Veterinary Medicine of Bucharest, Romania)

Abstract

Romania’s ability to attract financing from the European Union budget has proven very difficult in the last years. By comparing us, starting from this criterion, with the neighborly countries (Hungary, Czech Republic, Poland), it is clear we have serious deficiencies regarding not only the approaches and representations, but also the ability to define and rollback projects in accordance with the applicable standards. In the series of frequent deficiencies is listed also what we call risk management. In order to obtain a complete success, project management presupposes, therefore, inclusively the adequate administration of the risk. In this matter, the three fundamental purposes could be: (i) identifying the probable events which could have an unwanted impact over the results; (ii) the careful and active monitoring of the identified risks; (iii) adopting certain prevention/correction measures and enforcing the internal/managerial control bound to offer full guarantees regarding the accomplishment of the pre-established objects. In case of a Project Management Unit (short for PMU) that benefits from European funds, the realization of the objective of avoiding the application of certain financial corrections is directly proportional with the efficacy of the risk management.

Suggested Citation

  • Vasile ZECHERU, 2013. "Project Management and Risks Administration," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 14(3), pages 450-458, July.
  • Handle: RePEc:rom:rmcimn:v:14:y:2013:i:3:p:450-458
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    File URL: http://rmci.ase.ro/no14vol3/09.pdf
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    References listed on IDEAS

    as
    1. Catalina RADU & Marian NASTASE, 2011. "Leadership and Gender Differentiation," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 12(3), pages 455-460, July.
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    More about this item

    Keywords

    internal audit; internal/managerial control; level of impact; prevention/correction decision; risk probability; total risk score.;

    JEL classification:

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

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