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Article
Publication date: 12 September 2008

Elmar Kutsch

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…

5481

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Practical implications

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.

Originality/value

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.

Details

International Journal of Managing Projects in Business, vol. 1 no. 4
Type: Research Article
ISSN: 1753-8378

Keywords

Article
Publication date: 1 April 1992

Keith Alexander

Introduces the basic concepts of risk management and theirapplication to the field of facilities management (FM). Identifies themain classes of risk relevant to FM and…

3357

Abstract

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.

Details

Facilities, vol. 10 no. 4
Type: Research Article
ISSN: 0263-2772

Keywords

Article
Publication date: 1 February 2000

Chris Cooper

States that information and help on managing business risk was sought by the Financial and Management Accounting Committee of the International Federation of Accountants…

57550

Abstract

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.

Details

Balance Sheet, vol. 8 no. 1
Type: Research Article
ISSN: 0965-7967

Keywords

Article
Publication date: 18 June 2010

Young H. Park

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

3558

Abstract

Purpose

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

Design/methodology/approach

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.

Findings

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

Practical implications

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

Originality/value

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

Details

Asian Journal on Quality, vol. 11 no. 1
Type: Research Article
ISSN: 1598-2688

Keywords

Article
Publication date: 1 June 2010

Edna Stan‐Maduka

Against the backdrop of the fledgling entrepreneurship development and the imperatives of risk management to mitigate failure, this chapter discusses the impact of risk

2390

Abstract

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.

Details

World Journal of Entrepreneurship, Management and Sustainable Development, vol. 6 no. 3
Type: Research Article
ISSN: 2042-5961

Keywords

Article
Publication date: 8 February 2011

Simon Huston, Clive Warren and Peter Elliott

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.

1291

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Research limitations/implications

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

Practical implications

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.

Originality/value

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.

Details

Journal of Property Investment & Finance, vol. 29 no. 1
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 1 September 2000

Anne Harris

Aims to identify awareness of and involvement in risk assessments, training, incident reporting, information giving and consenting in an acute health care context…

6650

Abstract

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.

Details

British Journal of Clinical Governance, vol. 5 no. 3
Type: Research Article
ISSN: 1466-4100

Keywords

Open Access
Article
Publication date: 15 July 2022

Cathrine Reineholm, Christian Ståhl and Daniel Lundqvist

The purpose of the paper is to investigate managers' experiences of managing work environment and risks during the Covid-19 pandemic and to explore how managers might use…

Abstract

Purpose

The purpose of the paper is to investigate managers' experiences of managing work environment and risks during the Covid-19 pandemic and to explore how managers might use these experiences to develop future risk management.

Design/methodology/approach

Semi-structured interviews were carried out with 18 Swedish managers at different hierarchical levels working in 11 different organizations. A directed content analysis was carried out, informed by theory on risk management.

Findings

The results point to the pandemic as a societal crisis which workplaces needed to manage through large means of improvisation. Regular work environment routines were put to the test, and several deficiencies in the work environment and risk management were identified. Organizations that handle occupational safety and risks on a daily basis through established routines were less affected and could easier adjust work environment and risk management, compared to organizations prioritizing the social and organizational work environment, which had to re-prioritize and start paying more attention to the physical work environment and to bring risk management into their daily routines.

Originality/value

The study offers an account of how managers in different labor market sectors in Sweden have acted in the midst of the pandemic by handling real-time crises, how these experiences can be used for engaging in retrospective learning and how this may imply changes to their prospective risk management.

Details

International Journal of Workplace Health Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8351

Keywords

Article
Publication date: 11 July 2022

Yi Wang, Xiaopeng Deng and Hongtao Mao

This paper aims to explore the key risk factors affecting the Personnel Localization Management of international construction projects under the major public emergencies…

Abstract

Purpose

This paper aims to explore the key risk factors affecting the Personnel Localization Management of international construction projects under the major public emergencies represented by the novel coronavirus pneumonia pandemic (hereinafter COVID-19) and how the public emergency affected the Personnel Localization Management from three levels: staff turnover rate, the number of different personnel, the salary and performance of workers. The paper also helps to enhance the construction enterprises' response capacity of major public emergencies and provides a comprehensive framework of optimization strategies for the Personnel Localization Management of international construction projects (hereinafter projects).

Design/methodology/approach

The main research method of this paper is the case study, and ten representative international construction projects are selected for case study in China construction enterprises (hereinafter CCE). And this study used the failure mode and effects analysis (FMEA) and comparative analysis to find out all potential risk factors under the COVID-19 and analyze how the epidemic affects the Personnel Localization Management of projects which based on the primary data from 10 projects obtained through in-depth interviews and the secondary data from China First Metallurgical Group and Central South Construction Group's Overseas Enterprise.

Findings

The findings show that the outbreak of the major public emergencies not only greatly increased eight risk factors but also directly led to an increase in staff turnover rate. Meanwhile, the numbers of Chinese and local managers and workers are all affected, and an increase in the number and the salary performance of local workers can be reduced, to a certain extent, to the cost-to-output ratio of the projects. The findings would help construction enterprises better cope with Personnel Localization Management and enhance the response capacity of major public emergencies.

Research limitations/implications

This study will broaden researchers' horizons regarding “Personnel Localization Management under major public emergencies” and “risk factors of Personnel Localization Management in an international context.” Furthermore, construction enterprises looking for a better mechanism of Personnel Localization Management can benefit from research findings and lessons learned from the authors' case study during or before an outbreak of major public emergency. Lastly, the framework of optimization strategies for Personnel Localization Management can be used both for research purposes and practice issues in international construction projects.

Practical implications

The findings from the authors' case study offer the direction for international construction enterprises in China and other countries to formulate effective measures, strengthen overseas business and establish a crisis management mechanism for Personnel Localization Management under major public emergencies, and the findings provide emergency plans for projects to improve the public crisis handling capacity and respond to major public emergencies such as the COVID-19.

Social implications

This study analyzes the impact of the COVID-19 on the Personnel Localization Management of international construction projects from the perspective of personnel. This study provides a theoretical reference for the international construction industry to actively respond to major public emergencies. Besides, the research is conducive to improving the emergency response mechanism in the construction industry, and further promoting the high-quality and globalized development of international construction.

Originality/value

This study provides other researchers with a comprehensive understanding of the risk factors affecting the Personnel Localization Management of projects under the COVID-19 and insight for further research on localization management, risk management, and project management.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 8 June 2022

Minseok Park and Nitya Prasad Singh

As organizations globalize, they are facing twin challenges of (1) how to develop actionable intelligence from the vast amount of data flowing into their organization and…

Abstract

Purpose

As organizations globalize, they are facing twin challenges of (1) how to develop actionable intelligence from the vast amount of data flowing into their organization and (2) how to effectively manage the increasing risks to their supply chain. Therefore, the purpose of this paper is to bring these two issues on a single platform to understand how firms can effectively predict supply chain risk by developing and using BDA capabilities, through an automated risk alert tool.

Design/methodology/approach

The authors used a questionnaire-based survey methodology supported by secondary data to collect information related to managerial perceptions on how firms can develop a risk alert tool by improving BDA capabilities. A database of 213 senior and middle-level managers was developed and used to test the proposed hypothesis. Using econometric techniques, the authors identify the conditions necessary for such an automated risk management tool to be effective.

Findings

The results suggest that if organizations focus on developing an effective IT infrastructure supported by a strong BDA capability, they will be able to leverage these capabilities to develop an effective risk management tool. Moderating influences of Upstream and Downstream Supply Chain IT Infrastructure capabilities were also observed on different types of BDA capabilities within a firm. In conclusion, it was argued that the effectiveness of a risk alert tool is dependent on how well firms harness big data analytics capability.

Originality/value

The value of the research stems from the fact that it uses managerial surveys to identify specific BDA capabilities that can enable firms to develop risk resilience capabilities. In addition, the article is one of the few empirical studies that aims to identify how firms can use BDA capabilities within a supply chain context to develop an automated risk alert tool. The article, therefore, contributes to the literature that identifies the value of BDA capabilities within the context of supply chain risk management.

Details

Benchmarking: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-5771

Keywords

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