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Enterprise Risk Management in Projects

In: Enterprise Risk Management Models

Author

Listed:
  • David L. Olson

    (University of Nebraska)

  • Desheng Wu

    (University of Toronto)

Abstract

Project management inherently involves high levels of risk, because projects by definition are being done for the first time. There are a number of classical project domain types, each with their own characteristics. For instance, construction projects focus on inanimate objects, such as materials that are transformed into some purposeful object. There are people involved, although as time passes, more and more work is done by machinery, with diminishing human control. Thus construction projects are among the more predictable project domains. Government projects often involve construction, but extend beyond that to processes, such as the generation of nuclear material, or more recently, the processing of nuclear wastes. Government projects involve high levels of bureaucracy, and the only aspect increasing predictability is that overlapping bureaucratic involvement of many agencies almost ensures long time frames with high levels of change.

Suggested Citation

  • David L. Olson & Desheng Wu, 2010. "Enterprise Risk Management in Projects," Springer Books, in: Enterprise Risk Management Models, chapter 0, pages 43-55, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-11474-8_4
    DOI: 10.1007/978-3-642-11474-8_4
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