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1 – 10 of over 94000Sana Masmoudi Mardessi and Sonda Daoud Ben Arab
Enterprise risk management (ERM) has become an important subject of increasing interest among companies throughout the world. It is gaining global attention among risk management…
Abstract
Purpose
Enterprise risk management (ERM) has become an important subject of increasing interest among companies throughout the world. It is gaining global attention among risk management professionals and academics. However, little is known about the extent of ERM implementation in the Tunisian context. More importantly, there are limited studies in literature that examine the determinants of this implementation. The purpose of this study is threefold, to propose an index to measure the level of ERM implementation, to examine the level of ERM implementation in Tunisian companies and to propose a conceptual framework for the determinants of this implementation. From the review of literature, several factors are found to be determinants of ERM implementation. Such factors are the presence of a Chief Risk Officer, the appointment of an internal auditor, the type of industry and the firm size.
Design/methodology/approach
To further understand the relation between ERM implementation and its determinants, a questionnaire survey was conducted in 2016 and administrated to 80 companies. Respondents were CRO and more often internal auditors or financial directors. Other data were collected from annual reports and notes to the financial statements. Along with this, the ordinal regression was applied to test the dependence between ERM implementation and its determinants.
Findings
Based on the data gathered, Tunisian companies have shown an increasing interest in risk management in the post-revolution context; however, an integrated approach of ERM implementation is still at an early stage. Descriptive statistics suggest that ERM is essentially developed in financial institutions, especially in banks and some large companies operating in non- financial industries. With regard to the multivariate regression results, the level of ERM implementation is positively related to the presence of a Chief Risk Officer, internal auditor, the type of industry and the firm size.
Originality/value
This study attempts to contribute to the risk management literature in two ways. Conceptually, this study proposes an ERM index to assess the level of ERM implementation. Empirically, it provides some empirical evidence that highlights factors which determine the level of ERM implementation. Therefore, this study will extend the scope of literature by providing novel empirical evidence by exploring the Tunisian context.
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In order to reduce the high failure rate of enterprise resource planning system (ERP) projects in Indian retail, project managers need to analyze and understand the impact of risk…
Abstract
Purpose
In order to reduce the high failure rate of enterprise resource planning system (ERP) projects in Indian retail, project managers need to analyze and understand the impact of risk factor on ERP implementation. The purpose of this paper is to identify the key risk factors solely or primarily for the Indian retail sector. Furthermore, this study also analyzes the impact of risk factors in ERP implementation using the structural equation model (SEM) approach. “User risk,” “project management risk,” “technological risk,” “team risk,” “organizational risk,” and “project performance risk” are the examined factors.
Design/methodology/approach
A theoretical model is created that explains the risk factors which may impact the success of ERP implementation. Hypotheses were also developed to evaluate the interrelationship between risk factors and success of ERP implementation. Empirical data are collected through survey questionnaire from practitioners such as project sponsors, project managers, implementation consultants, and team members who are involved in ERP implementation in the retail sector to test the theoretical model.
Findings
Using the SEM, it is found that 40 percent of the variations in ERP implementation success can be explained with the help of the model suggested in the research study. The results of the study has empirically verified that “user risk,” “project management risk,” “technological risk,” “team risk,” “organizational risk,” and “project performance risk” factors are positively impacting ERP implementation success. All six hypotheses were supported by the results of the study.
Research limitations/implications
The findings from this paper can provide greater understanding of ERP implementations. Researchers, practicing managers, and those seeking to implement ERP in retail organization can also use the findings of this study as a vehicle for improving ERP implementation success in the retail sector.
Originality/value
The study integrates the impact of risk factor on ERP implementation. Very few studies have been performed to investigate and understand this issue. Therefore, the research can make a useful contribution.
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Zhen Chen, Yaqi Zhao, Xia Zhou, Shengyue Hao and Jin Li
Human–robot collaboration (HRC) is an emerging research field for the construction industry along with construction robot adoption, but its implementation remains limited in…
Abstract
Purpose
Human–robot collaboration (HRC) is an emerging research field for the construction industry along with construction robot adoption, but its implementation remains limited in construction sites. This paper aims to identify critical risk factors and their interactions of HRC implementation during engineering project construction.
Design/methodology/approach
Literature research, expert interviews, a questionnaire survey and a social network analysis (SNA) method were used. First, literature research and expert interviews were employed to identify risk factors of HRC implementation and preliminarily understand factor interactions. Second, a questionnaire survey was conducted to determine the degree of interactions between risk factors. Third, based on the data collected from the questionnaire survey, SNA metrics were used to find critical risk factors and critical interactions.
Findings
The critical risk factors consist of robot technology reliability, robot-perceived level, conflict between designers and users of construction robots, organisational culture, organisational strength, project cost requirements, changeability of project construction, project quality requirements and project safety requirements. The interactions between risk factors are strong and complex. Robot technology risk factors were relatively fundamental risk factors, and project risk factors had a direct influence on the risk of HRC implementation. The implementation cost of HRC was not identified as a critical risk factor. Individual risk factors could be mitigated by improving technical and organisational factors.
Originality/value
This paper contributes to the body of knowledge in the field of both HRC behaviours and its risk management in construction project management. Identifying the critical risk factors and their interactions of HRC implementation in the construction industry and introducing social network theory to the research on critical risk factors are the innovations of this paper. The findings and proposed suggestions could help construction professionals to better understand the HRC risk factors and to manage the risk of HRC implementation more effectively.
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Addresses variables in the implementation of software applications for aspects of customer relationship management (CRM) systems in medium‐sized organisations. The objective is to…
Abstract
Addresses variables in the implementation of software applications for aspects of customer relationship management (CRM) systems in medium‐sized organisations. The objective is to identify those variables that present the greatest risks to effective and successful implementation in the light of the operating relationships between the main “actors” in multi‐channel CRM implementation projects. Bases theoretical development on two central themes. The first theme is that any implementation has risks that need to be managed and the second is that the dynamics of the relationships of the main actors are more complex where a system is acquired from external developers than with an internally developed system. Explores these assumptions using qualitative linear case studies, where success or failure has not been established at the start. Derives a model which represents a typical relationship dynamic for a CRM implementation. By establishing the nature of the risks involved within the context of a monitored relationship dynamic offers a framework for guidance in the implementation process.
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Simon Adamtey and James Ogechi Kereri
Residential projects frequently suffer from low-risk management (RM) implementation and, consequently, are more likely to fail to meet performance objectives. With RM becoming an…
Abstract
Purpose
Residential projects frequently suffer from low-risk management (RM) implementation and, consequently, are more likely to fail to meet performance objectives. With RM becoming an essential requirement, the purpose of this study is to investigate RM implementation in terms of status, risk analysis techniques, barriers and impact of RM on residential projects across the USA.
Design/methodology/approach
Data were collected from 105 general contractors who had completed 3,265 residential projects in the past five years. Data collection was through a US national survey sent out through emails between August and November 2019 to residential general contractor firms. The firms were randomly selected from national organizations, such as the National Association of Home Builders, Associated General Contractors of America and Associated Builders and Contractors.
Findings
The analysis indicated that RM implementation is still extremely low at 22.27%. However, there was an increase in RM implementation as the cost and duration of projects increased. Direct judgment is the most used technique. Also, the one-sample t-test indicated that the barriers have a significant impact on RM implementation. Multinomial logistic regression results indicated that the impact of lack of management support, lack of money or budget, the complexity of analytical tools and lack of time to perform analysis predict the impact on the overall performance of construction projects. Overall, the results provide empirical evidence, which can influence management’s decision-making regarding RM and improve implementation in residential projects.
Originality/value
There is a lack of empirical evidence on the impact of barriers to RM implementation on the performance of construction projects. This research contributes to the body of knowledge by bridging this gap through a robust analysis of data collected from real residential projects.
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Prasanta Kumar Dey, Benjamin Thomas Clegg and David J. Bennett
The purpose of this paper is to help managers to successfully plan, implement, and operate enterprise resource planning (ERP) projects using a risk management framework.
Abstract
Purpose
The purpose of this paper is to help managers to successfully plan, implement, and operate enterprise resource planning (ERP) projects using a risk management framework.
Design/methodology/approach
This paper adopted a combined literature review and case study method. Using literature review, the paper first identified major issues of managing ERP projects and develops a risk management framework for managing those issues. The proposed risk management framework was then applied to a ERP implementation project of a UK‐based energy services group and its effectiveness for managing ERP projects implementation had been demonstrated. Additionally, the risk factors as identified from the case application are compared with the risk factors from the previous researches so as to suggest mitigating measures.
Findings
All the risk factors are categorized into planning, implementation and operations phases along with project processes, organizational transformation and information technology (IT) perspectives. Project implementation phase is the most vulnerable to failure. The case study results reveal that the effect of other projects on on‐going ERP project, management of overall IT architecture and non‐availability of resources for organizational transformation are most critical from likelihood and impact perspectives. Managing risk across various phases of project and equal emphasize to effective project management, organizational transformation and IT adoption are the key to success in ERP implementation.
Practical implications
The risk factors, which were identified using literature review and the case study, have great significance as mitigating measures of those risks may result successful implementation of ERP projects in the industry. Additionally, proposed risk management framework could be customized to implement ERP projects elsewhere.
Originality/value
ERP projects are risky as they are capital intensive, technically complex, and call for organizational transformation. There are both success and failure stories. However, both researchers and practitioners agree, that if it can be implemented and operated successfully and benefits should be achievable. Although there are many studies on ERP implementation, little has been discussed on managing risks of ERP projects. Therefore, this paper bridges the gap.
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Ioannis Zafeiropoulos, Kostas Metaxiotis and Dimitris Askounis
This paper aims to deal with the development of a risk management application for the modelling, optimal adaptation and implementation of an ERP system.
Abstract
Purpose
This paper aims to deal with the development of a risk management application for the modelling, optimal adaptation and implementation of an ERP system.
Design/methodology/approach
This paper presented a risk management application for the modeling, optimal adaptation and implementation of an ERP system. The application was tested with the operations and capabilities of the ERP commercial package “SINGULAR Enterprise (SEn)” of the Greek Software House DELTA‐SINGULAR S.A.
Findings
The functional result of this application was proved to support considerably the management of risk within the implementation of the ERP system.
Originality/value
To the best knowledge of the authors there is no other current generic research in this technological field concerning small or medium‐sized enterprises. With the development of this application, the goals mentioned in the conclusions were achieved.
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The overarching objective of this paper is to examine the cause–effect relationships among building and information modeling (BIM)-related risk factors and their impact on the…
Abstract
Purpose
The overarching objective of this paper is to examine the cause–effect relationships among building and information modeling (BIM)-related risk factors and their impact on the implementation of BIM in construction projects.
Design/methodology/approach
This paper draws on previous research to identify and categorize BIM-related risk factors. It then develops a system dynamics (SD) model to examine the cause–effect relationships among these factors leading to issues in BIM implementation.
Findings
The proposed SD model illustrates how nine reinforcing feedback loops provide connections between four categories of risks, namely, technical, information, legal and organizational risks and, consequently, create vicious cycles that threaten the successful implementation of BIM.
Originality/value
This paper is among a few studies that depart from reductionism by taking a holistic approach and demonstrating how the interactions between BIM-related risk factors lead to vicious cycles that threaten the successful implementation of BIM.
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Valentina N. Parakhina, Galina V. Vorontsova, Oksana N. Momotova, Olga A. Boris and Rustam M. Ustaev
This chapter studies the importance of implementation of innovational projects of technological growth through public–private partnership (PPP). The authors determine the…
Abstract
This chapter studies the importance of implementation of innovational projects of technological growth through public–private partnership (PPP). The authors determine the probability of implementing a project of PPP depending on distribution of risks between its participants. Usage of the mechanism of PPP allows optimizing possible risks during implementation of innovational activities, attracting large business for creation and implementation of new technologies, and forming sustainable ties between R&D departments and business structures. The types of risks in the projects of PPP are given, as well as tendencies of their emergence depending on the stage of implementation of the innovational project, including the following: formation of policy on development of PPP; preparatory, implementary, commercialization of the results of joint activities; and monitoring and control over execution of the project. The algorithm of the system of risk management in innovational projects of technological growth on the platform of PPP is presented. The methods of overcoming the risks that appear during implementation of an innovational project of technological growth within PPP are given. A special attention should be paid to the fourth (distribution of risks) and fifth (reduction of risks) stages. During implementation of innovational projects with application of a business model of PPP, the risks are dealt with by the participant who can manage them better. Reduction of risks is achieved better if several strategies are used – for decreasing the influence of the risk on the innovational project (strategies of risk evasion, acceptance of the risk situation, compensation, transfer, and reduction).
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Ákos Uhrin, José Moyano-Fuentes and Sebastián Bruque Cámara
The purpose of this paper is to investigate the role of external and internal sources of variability on the degree of lean production implementation. For this, this paper analyzes…
Abstract
Purpose
The purpose of this paper is to investigate the role of external and internal sources of variability on the degree of lean production implementation. For this, this paper analyzes the effects of environmental risk and the company’s past operational performance on the level of lean production implementation.
Design/methodology/approach
Utilizing the reasoning of prospect theory and the threat-rigidity hypothesis, three hypotheses have been developed as to the impact of internal and external sources of variability on the degree of lean production implementation. A questionnaire has been developed to test the hypotheses of the paper on a sample of first-tier suppliers in the Spanish automotive industry. The methodology comprises a combination of hierarchical regression analysis and mediation analysis.
Findings
In line with the propositions of prospect theory, the results obtained show support for the influence of firm risk and past operational performance variability in terms of undertaking decisions that favor further progress in lean production implementation.
Originality/value
This paper contributes to the explanation of the circumstances that ultimately lead to the implementation of lean production. Consequently, the impact of the external and internal environment influences a company’s commitment to increasing its level of lean production implementation and fosters managers’ strategic decision making. Furthermore, its implementation could help guarantee firm survival.
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