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The Effectiveness of Risk Management: An Analysis of Project Risk Planning Across Industries and Countries

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  • Ofer Zwikael
  • Mark Ahn

Abstract

This article examines the effectiveness of current risk management practices to reduce project risk using a multinational, multi‐industry study across different scenarios and cultures. A survey was administered to 701 project managers, and their supervisors, in seven industries and three diverse countries (New Zealand, Israel, and Japan), in multiple languages during the 2002–2007 period. Results of this study show that project context—industry and country where a project is executed—significantly impacts perceived levels of project risk, and the intensity of risk management processes. Our findings also suggest that risk management moderates the relationship between risk level and project success. Specifically, we found that even moderate levels of risk management planning are sufficient to reduce the negative effect risk levels have on project success.

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  • Ofer Zwikael & Mark Ahn, 2011. "The Effectiveness of Risk Management: An Analysis of Project Risk Planning Across Industries and Countries," Risk Analysis, John Wiley & Sons, vol. 31(1), pages 25-37, January.
    • Handle: RePEc:wly:riskan:v:31:y:2011:i:1:p:25-37
    DOI: 10.1111/j.1539-6924.2010.01470.x
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    Cited by:

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    6. Amin Khalifeh & Ahmad Samed Al-Adwan & Mohammed Kasem Alrousan & Husam Yaseen & Belal Mathani & Firas Rashed Wahsheh, 2023. "Exploring the Nexus of Sustainability and Project Success: A Proposed Framework for the Software Sector," Sustainability, MDPI, vol. 15(22), pages 1-18, November.
    7. Jesko Schulte & Sophie I. Hallstedt, 2018. "Company Risk Management in Light of the Sustainability Transition," Sustainability, MDPI, vol. 10(11), pages 1-25, November.
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    9. Hadi Sarvari & Alireza Valipour & Nordin Yahya & Norhazilan MD Noor & Michael Beer & Nerija Banaitiene, 2019. "Approaches to Risk Identification in Public–Private Partnership Projects: Malaysian Private Partners’ Overview," Administrative Sciences, MDPI, vol. 9(1), pages 1-18, February.

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