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1 – 10 of over 4000João Henrique Lopes Guerra, Fernando Bernardi de Souza, Silvio R. I. Pires, Manoel Henrique Salgado and Anderson Luiz Ribeiro de Sá
The study analysed the aerospace industry, a traditionally important sector for the topic of risk management, from three complementary perspectives: the supply chain risks present…
Abstract
Purpose
The study analysed the aerospace industry, a traditionally important sector for the topic of risk management, from three complementary perspectives: the supply chain risks present in the sector, the mitigation strategies adopted to face them, and the characteristics (dimensions) observed in the SCRM process of aerospace companies.
Design/methodology/approach
The research employed a quali–quantitative method: a survey was carried out, followed by interviews with professionals from companies belonging to different tiers of aerospace supply chains. Interviews helped to interpret the survey data and understand in more detail risk management in aerospace companies.
Findings
The study presents a panorama of the aerospace industry in terms of risk management. The sector’s turbulent environment is described as well as the strategies to prevent, minimise or postpone the impact of supply chain risks. In particular, ten dimensions that have been identified in the SCRM process of aerospace firms are discussed. These characteristics influence the objectives of this process and are related to resources, roles and responsibilities, incentives, development of competences and skills, scope (internal and external) and approaches to integrate decisions and actions in the context of the supply chain.
Originality/value
Articles that address the SCRM process usually focus on the process steps, whereas this study investigated dimensions that transcend these steps but whose discussion in the literature is still fragmented. It also analysed a reference sector for the topic from a broader perspective than others available in the literature (supply chain risks, mitigation strategies and characteristics of the SCRM process). Supply chain members with relationships with each other were investigated, a desirable approach for SCRM but still under-explored. The study also answers calls for industry-specific studies and research on emerging countries.
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Muhammad T. Hatamleh, Ammar Alzarrad, Abdullah Alghossoon, Mohammad Alhusban and Olugbenro Ogunrinde
Project information is widely and thoroughly exchanged within construction projects. However, the risk management process exhibits deficiencies in coordination and visibility…
Abstract
Purpose
Project information is widely and thoroughly exchanged within construction projects. However, the risk management process exhibits deficiencies in coordination and visibility, particularly in developing countries. Practitioners in developing countries often engage in Project Risk Management (PRiM) using practices that inadvertently hinder project success, frequently resulting in suboptimal outcomes. Therefore, this research explores practices within Project Integration Management (PIM) and Project Communication Management (PCmM) that could enhance PRiM and improve managerial proficiency to achieve project success in developing countries.
Design/methodology/approach
The PIM, PCmM and PRiM processes were explored from the literature; the data was gathered initially by close-ended interviews conducted with a panel of twelve experts followed by a well-structured questionnaire. Structural Equation Modeling (SEM) was employed via AMOS to analyze the data and construct a model representing the intricate relationships between the processes. Additionally, the validity and reliability of the method were inspected.
Findings
The data analysis confirmed that PIM and PCmM were correlated according to contractors and consultants in the Jordanian construction industry. Furthermore, both have a positive influence on the PRiM. In addition, a 13-step process was developed to apply extra processes and practices to ensure better implementation of the PRiM in developing countries.
Originality/value
The literature highlights that integration and communication management influence project performance. However, there is a lack of research utilizing practices from these knowledge areas to achieve better project risk management implementation. This research highlights two of the most underrated knowledge areas in project management. Therefore, a framework was devised, comprising processes that practitioners should take into account during the planning phase leading to efficient PRiM to enhance their managerial proficiency.
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Pelle Lundquist Willumsen, Josef Oehmen and Hani Mike Rae Selim
This paper explores how risks are managed in project practice beyond formalized risk management processes by applying the lens of actuality research to project risk management.
Abstract
Purpose
This paper explores how risks are managed in project practice beyond formalized risk management processes by applying the lens of actuality research to project risk management.
Design/methodology/approach
The paper follows a qualitative multimethod research approach utilizing literature review, interviews, observations and document analysis. The paper is based on three case studies and one interview study in project organizations facing green transition challenges.
Findings
Little work exists to reveal how risk management is actually done by project practitioners, and why. Few studies report on contextual variation and consider confounding factors beyond a “one size fits all” formalized explicit risk management process, despite ample evidence that risks are managed outside the formal process. The study documents that informal and/or implicit risk management activities add significantly more value.
Originality/value
The paper contributes a literature review of research into the actuality of project risk management, a sense-making framework of how risks are managed in practice beyond the formal, explicit risk-management process by including informal and/or implicit risk management activities, an empirical study of risk-management practice highlighting that informal and/or implicit risk-management activities dominate in practice, a discussion of why risks are managed outside formalized, explicit process and a research agenda to enable the design of impactful project risk-management practices.
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Luis Mendes and Grazielle França
Healthcare organizations have been facing challenges due to high costs and low efficiency in health services. The growth of costs and losses caused by avoidable mistakes lead to…
Abstract
Purpose
Healthcare organizations have been facing challenges due to high costs and low efficiency in health services. The growth of costs and losses caused by avoidable mistakes lead to the search for solutions, and Health Lean Management appears as a potential solution to help in solving service quality problems, as well as reducing risks. This study aims to analyse the state of the art in the literature centred on the Lean approach in the context of risk management in healthcare organizations, and to identify new research opportunities, highlighting possible lines of future research.
Design/methodology/approach
Following a systematic literature review approach, 51 papers were considered relevant for this research, and reviewed to explore the development of literature in this area.
Findings
Based on the results, five main research streams were identified: (1) risk management oriented towards patient safety; (2) risk management oriented towards employee safety; (3) importance of attitudes and behaviours in risk reduction projects; (4) Lean tools used in healthcare risk management and (5) Integration of approaches. Moreover, several shortcomings were identified in literature.
Originality/value
Identified shortcomings represent significant opportunities for further research development.
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Anand Prakash and Sudhir Ambekar
Implementing enterprise risk management (ERM) systems in construction firms of developing countries like India is critical for targeting strong risk management strategies that…
Abstract
Purpose
Implementing enterprise risk management (ERM) systems in construction firms of developing countries like India is critical for targeting strong risk management strategies that support their growth. It requires such firms to holistically understand the major barriers in terms of their definitions, relationships with one another and interdependencies. Thus, this study aims to identify, model and analyze the barriers to implementing ERM in construction firms using interpretive structural modeling (ISM).
Design/methodology/approach
This study used a Delphi process to identify barriers to the implementation of ERM in Indian construction firms, ISM to model them and Matrice d’Impacts Croisés Multiplication Appliquée à un Classement (MICMAC) to analyze their interrelationships.
Findings
The study’s results revealed that individual-level factors are the most important among the barriers present at the lowest level in the hierarchical model, whereas organizational commitment with the highest dependence power is present at the highest level in the hierarchical model.
Research limitations/implications
Since the usage of ERM in the construction industry is highly culture-dependent and may have regional nuances, the data on ERM usage might accurately reflect the Indian construction industry but may not apply to other regions.
Practical implications
This study can be used to develop effective strategies to improve the implementation of ERM in construction firms in developing countries like India.
Social implications
ERM is crucial for managing risks in Indian construction firms due to the high degree of complexity and uncertainty associated with construction projects coming from changes due to technological advancement, regulatory changes, changes in consumer preferences, global competition and other socioeconomic and political factors.
Originality/value
The study’s results will help researchers and practitioners working in the construction industry of developing countries like India to identify the challenges in adopting ERM systems. It will guide construction firms to appropriately develop risk management strategies for managing the inevitable risks in their complex project environments. This will help improve their contribution to the country’s economic development.
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Kamar Zekhnini, Abla Chaouni Benabdellah, Surajit Bag and Shivam Gupta
This article aims to assess risks related to the supply chain 5.0 digitalization. It aims to analyze interdependencies and causal relationships between critical digital supply…
Abstract
Purpose
This article aims to assess risks related to the supply chain 5.0 digitalization. It aims to analyze interdependencies and causal relationships between critical digital supply chain 5.0 risks, emphasizing the need for proactive management to address emerging challenges.
Design/methodology/approach
Through an extensive literature review and expert judgment, risks related to supply chain 5.0 digitalization are identified. An integrated approach for risk assessment is employed, where the Analytic Hierarchy Process (AHP) is utilized to prioritize these risks. Subsequently, the Decision-Making Trial and Evaluation Laboratory (DEMATEL) method is employed to investigate cause-and-effect relationships among the identified top 10 risks. This comprehensive analysis forms the basis for informed strategic management decision-making.
Findings
The analysis identifies significant influences of “Dependence on technology,” “Complexity”, “Potential system failures”, and “Cyber security” while “Environmental impact” and “Socio-economic disparities” emerge as prominent risks in supply chain 5.0 digitalization. These findings offer actionable insights for management decision-making, guiding the formulation of strategies to address and mitigate critical risks.
Practical implications
The proposed integrated approach (AHP-DEMATEL) provides valuable insights for managers to effectively mitigate digital supply chain 5.0 risks and strategically respond to disruptions. By prioritizing risks, organizations can allocate resources efficiently and address the most critical challenges first, minimizing long-term damage to resilience. Embracing this approach enables practitioners to enhance overall supply chain resilience, guiding key management decisions for the development of sustainable and adaptive strategies.
Originality/value
This paper marks the first comprehensive attempt to assess supply chain 5.0 digitalization risks using decision-making methods like AHP and DEMATEL. The integrated approach contributes novel insights to the field of supply chain risk management, specifically aiding management decision-making in the face of digitalization challenges.
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Monia Castellini, Caterina Ferrario and Vincenzo Riso
Since the 1980s, New public management has fostered the introduction of managerial approaches similar to those of the private sector in public administrations. Recently, the…
Abstract
Purpose
Since the 1980s, New public management has fostered the introduction of managerial approaches similar to those of the private sector in public administrations. Recently, the advantages of performing risk management in the public sector have been recognized; however, to the best of our knowledge, research on risk management in public administrations is underdeveloped, and there is a need to understand how risk management is performed. This paper addresses these issues and investigates whether and how risk management is performed in Italian public administration.
Design/methodology/approach
This study focused on a sample of 503 Italian municipalities and used a mixed research method. Through a qualitative content analysis of documents published on municipalities’ websites, data and information were collected and elaborated using quantitative indicators.
Findings
The main results are that a high percentage of large Italian municipalities perform risk management and comply with theoretical provisions on risk management, sometimes displaying isomorphic behavior in risk management practices.
Originality/value
This study provides a new perspective on risk management in Italian municipalities, contributes to filling a gap in the literature and suggests a theoretical perspective on municipalities’ approaches when introducing new managerial practices.
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Anwesa Kar and Rajiv Nandan Rai
The purpose of the study is to examine how risk factors contribute to the occurrence of defects in a process. By analyzing these risk factors in relation to process quality, the…
Abstract
Purpose
The purpose of the study is to examine how risk factors contribute to the occurrence of defects in a process. By analyzing these risk factors in relation to process quality, the study aims to help organizations prioritize their resources and efforts toward addressing the most significant risks. These challenges, integrated with the emerging concept of Quality 4.0, necessitate a comprehensive risk assessment technique.
Design/methodology/approach
Fuzzy logic integrated with an analytic network process is used in the process failure mode and effects analysis for conducting risk identification and assessment under uncertainty. Through a mathematical model, the linkage of risk with Six Sigma is established and, finally, a value–risk matrix is developed for illustrating and analysing risk impact on process quality.
Findings
A case study on fused filament fabrication demonstrates the proposed methodology’s applicability. The results show its effectiveness in assessing risk factors’ impact on Six Sigma metrics: defects per million opportunities/sigma level.
Practical implications
By integrating qualitative assessments and leveraging available data, this approach enables a more comprehensive understanding of risks and their utilization for an organization’s quality improvement initiatives.
Originality/value
This approach establishes a risk-centric Six Sigma assessment method in accordance with the requirement of ISO 9001:2015 and in the context of Quality 4.0.
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Jorge Aníbal Restrepo, Emerson Andres Giraldo and Juan Gabriel Vanegas
This study proposes a novel method to improve the accuracy of overall equipment effectiveness (OEE) estimation in the metallurgical industry. This is achieved by modeling the…
Abstract
Purpose
This study proposes a novel method to improve the accuracy of overall equipment effectiveness (OEE) estimation in the metallurgical industry. This is achieved by modeling the frequency and severity of stoppage events as random variables.
Design/methodology/approach
An analysis of 80,000 datasets from a metal-mechanical firm (2020–2022) was performed using the loss distribution approach (LDA) and Monte Carlo simulation (MCS). The data were further adjusted with a product price index to account for inflation.
Findings
The variance analysis revealed supporting colleagues (59.8% of variance contribution), food breaks (29.8%) and refreshments (9.0%) as the events with the strongest influence on operating losses.
Research limitations/implications
This study provides a more rigorous approach to operational risk management and OEE measurement in the metal-mechanical sector. The developed algorithm supports the establishment of risk management guidelines and facilitates targeted OEE improvement efforts.
Originality/value
This research introduces a novel OEE estimation method specifically for the metallurgical industry, utilizing LDA and MCS to improve accuracy compared to existing techniques.
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Udechukwu Ojiako, Lungie Maseko, David Root, Senthilkumar Venkatachalam, Alasdair Marshall, Eman Jasim Hussain AlRaeesi and Maxwell Chipulu
We explore the design risk factors and associated managerial practices driving collaborative risk management for design efficacy in green building projects. By illuminating…
Abstract
Purpose
We explore the design risk factors and associated managerial practices driving collaborative risk management for design efficacy in green building projects. By illuminating project design risk as an important project risk category in its own right, the study contributes to our understanding of optimising design efficacies for collaborative project risk management.
Design/methodology/approach
The study comprises exploratory interviews conducted with 27 industry project practitioners involved in the design and delivery/implementation of Green Star-certified building projects in South Africa.
Findings
The findings discursively highlight seven sources of design risk. We also identify seven specific collaborative risk management practices for design efficacy emerging from a consideration of how risk environments vary in the Green Star-certified projects, each with its own project design risk implications.
Originality/value
The study advances our understanding of how collaborations emerging from particular relational yet context-specific practices can be optimised to strengthen project risk management.
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