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The purpose of this paper is to highlight the main findings of a successfully defended doctoral thesis that studied factors or interventions causing the discrepancy between how adequate project risks should be managed and how project risks are actually managed.

The approach involved interviews and a survey using questionnaires gathered data from project managers about their experiences with project risk management during two phases of fieldwork. The first phase included in‐depth interviews with information technology (IT) project managers in order to explore patterns involving risk mediators and their influence on project risk management. A web‐based survey was used in the second phase for the purpose of testing these patterns on a wider range of project managers.

Specific risk‐related interventions strongly influence the effective use of project risk management: project managers tended to deny, avoid, ignore risks and to delay the management of risk. Risks were perceived as discomforting, not agreed upon. IT project managers were unaware of risks and considered them to be outside their scope of influence and preferred to let risks resolve themselves rather than proactively engaging with them. As a consequence, factors such as the lack of awareness of risks by IT project managers appeared to constrain the application of project risk management with the result that risk had an adverse influence on the outcome of IT projects.

The underlying rational assumptions of project risk management and the usefulness of best practice project risk management standards as a whole need to be questioned because of the occurrence of interventions such as the lack of information. IT project managers should first prevent risk‐related interventions from influencing the use of project risk management. However, if this is not possible, they should be prepared to adapt to risks influencing the project outcome.

The paper contradicts the myth of a “self‐evidently” correct project risk management approach. It defines interventions that constrain project manager's ability to manage project risk.

Introduces the basic concepts of risk management and their application to the field of facilities management (FM). Identifies the main classes of risk relevant to FM and introduces a model for determining the exposure of an organization to risk and for identifying the level of control that may be exercised over particular risks. Discusses responsibilities for risk and provides a plan of action for risk management.

States that information and help on managing business risk was sought by the Financial and Management Accounting Committee of the International Federation of Accountants (IFAC). Examines Pricewaterhouse‐Coopers part in this – in their guise as Global Risk Management Solutions and the guidance in an emerging area. Further discusses risk management and the interest in it, its improvement possibilities and the adoption of an integrated approach. Proposes that the implementation of risk architecture is not a response to risk but rather a paradigm shift that involves enterprises changing.

The purpose of this paper is to analyze the management process considering risks and performances in developing new products.

The paper provides risk factors and performance factors based on literature reviews and then discusses risk and performance management processes during the product development period. Some lessons for effective risk management and performance measures are reported.

The timing of risk management and performance measures is important to the impact level of performance.

This proposed framework could be used as a basis for systematic management of R&D investment projects.

The paper provides insights into the R&D committee's role in developing new products.

Against the backdrop of the fledgling entrepreneurship development and the imperatives of risk management to mitigate failure, this chapter discusses the impact of risk management practice on the development of African businesses. It also considers how best to align the practice of risk management in order to achieve business continuity. More than ever before, global competitiveness and the need to trade‐out of declining profits are currently driving businesses into risk management efficiencies in order to continue achieving increased returns on assets employed/equities for their shareholders. The attainment of these growth objectives can often be affected by several types of business risk (financial and operational) coupled with unpredicted movements in prices. These movements especially in times of high volatilities impact materially on profit growth potentials regardless of how well a business is managed. This chapter suggests how African business executives can evolve their business management styles to imbed risk management at all stages.

The purpose of this paper is to develop a General Systems Theory (GST) risk management framework and conducts a preliminary investigation into its potential benefits.

A risk management framework with four domains is developed by applying GST to property. Risk management in five listed Australian Real Estate Investment Trusts (A‐REITs) is benchmarked against the GST ideal using public web‐sites information. A‐REIT volatility‐adjusted returns are calculated using Treynor ratios for the year to May 2010. The link between risk management score and entity performance is then investigated.

The GST framework directs attention to risks involving surveillance, capacity and controls. However, as predicted by the Efficient Market Hypothesis (EMH), the study found no link between assessed risk management and volatility‐moderated annual returns to May 2010.

The risk scoring was predicated on publicly available data, with limited analysis of financial statements. The sample size was restricted.

Successful entities are well governed, focused and innovative. Robust finances allow exploitation of emerging opportunity when business conditions become favourable. Planning and environmental management capabilities are essential.

The paper makes conceptual and practical contributions. Conceptually, it develops a GST risk management framework. Practically, albeit for a handful of entities, the paper illustrates how the GST approach to risk management could be effectively deployed. The paper also outlines a pathway for more refined risk management research.

Aims to identify awareness of and involvement in risk assessments, training, incident reporting, information giving and consenting in an acute health care context. Explores how nurse managers perceived risk management as a concept and if they saw advanced neonatal nurse practitioners having a role to play in this activity. The method used was a postal survey of 62 nurse managers or clinical specialists responsible for neonatal nursing care services within NHS Trusts in the UK. Results show that while the nurse managers studies understood the definition of risk management in general, they were more vague about certain aspects of that definition. The nurse managers appeared to be passive in their dissemination and taking forward of risk management strategies, rather than proactively “promoting and helping them forward” as may be expected in facilitative managerial behaviour. Concludes that the challenges of clinical governance demand more proactive approaches to effect and demonstrate change, and support ongoing clinical quality improvements.

To improve the performance both in terms of patient safety and quality of treatments, this research studies one of the most delicate processes of health organizations, that is to say, the clinical risk management in maternal and child pathway. This paper aims to analyze the accidents that occurred in a complex health facility through the standard mapping of this pathway included in the CartoRisk, i.e. a risk assessment tool for the a priori analysis.

The research uses the case study methodology, as it explores a complex process in which a lot of variables and actors are involved. It analyzes the accidents occurred in the largest health facility at national and European level.

After a presentation of the regulatory framework and the studied health organization, the research analyzes the accidents occurred in maternal and child pathway from 2014 to 2018. It showed the main risks according to the standard mapping of the maternal and child pathway. Furthermore, it identified 11 new risks mainly associated with physiologic birth and Caesarean birth.

This study presents the regulatory framework, the health facility and the accidents of a health organization. Moreover, besides the accident analysis, the research integrates further risks into the standard mapping adopted to carry out this study and proposes a risk management approach. Therefore, the value of the research for operators will consist of the integration of the standard mapping used for a priori analysis to be reused in the hospitals where they work, while for researchers it will represent a deep knowledge of a real case.

The purpose of this paper is to present a literature review demonstrating that quality and its management are increasingly definable as a balancing act between value, risk and cost throughout the value stream, from product/service design to production and delivery, and purchaser decision-making. An original framework is presented showing this interplay across the value stream, referred to as the QVRC framework.

Content analysis is combined with bibliometric analytics, displayed via temporal graphs and citation networks. Reviewed literature is transdisciplinary, encompassing marketing, operations/quality and psychology sources. Core quality management methodologies are positioned on the framework illustrating their relative contribution to value, risk and cost management.

The QVRC framework is developed, and used as a basis for classifying models and methodologies associated with quality management. A set of propositions are developed, which, together with the framework, set an agenda for further research.

No literature review can capture the richness of discourses on terms as pervasive as value, risk and cost. This paper aims to present a systematic and reliable sampling of such literature.

The resulting model can be applied to management tools, and to products and services.

Researchers, particularly in marketing, have developed models of value, risk and cost in terms of products and services. However, delivering products that provide the appropriate value, risk and cost trade-off is an operations management problem. This is the first paper to combine value, risk and cost across the value stream showing how this interplay extends beyond product.

This invited article explores current developments in supply chain risk management (SCRM) practices by revisiting the classical case of Ericsson (Norrman and Jansson, 2004) after 15 years, and updating its case description and analysis of its organizational structure, processes and tools for SCRM.

An exploratory case study is conducted with a longitudinal focus, aiming to understand both proactive and reactive SCRM practices using a holistic perspective of a real-life example.

The study demonstrates how Ericsson's SCRM practices have developed, indicating that improved functional capabilities are increasingly combined across silos and leveraged by formalized learning processes. Important enablers are IT capabilities, a fine-grained and cross-functional organization, and a focus on monitoring and compliance. Major developments in SCRM are often triggered by incidents, but also by requirements from external stakeholders and new corporate leaders actively focusing on SCRM and related activities.

Relevant areas for future research are proposed, thereby increasing the knowledge of how companies can develop SCRM practices and capabilities further.

Being one of few in-depth holistic case studies of SCRM, decision-makers can learn about many practices and tools. Of special interest is the detailed description of how Ericsson reactively responded to the Fukushima incident (2011), and how it proactively engaged in monitoring and assessment activities. It is also exemplified how SCRM practices could continuously be developed to make them “stick” to the organization, even in stable times.

This is one of the first case studies to delve deeper into the development of SCRM practices through taking a longitudinal approach.