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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.

The construction industry is unique but with uncertainties. This is because of the operating environment. This intricacy gives rise to several construction risks and is compounded in developing countries’ turbulent times. If not managed, these risks enhanced in turbulent times could negatively impact the Nigerian construction projects’ cost, time, quality, and performance. Hence, this study investigated the perceived encumbrances facing construction risk management techniques and identified measures to promote sustainable-based construction risk management in turbulent times.

The researchers adopted a qualitative approach and achieved saturation with 28 participants. The participants were government policymakers, quantity surveyors in government ministries/agencies/departments, consultant engineers, consultant architects, consultant and contracting quantity surveyors, and construction contractors knowledgeable about construction risk management. The research employed a thematic analysis for the study’s data.

Findings identified turbulent times related to the industry and major techniques for managing construction project risks in the Nigerian construction industry. It revealed lax adoption and implementation of practices. Also, the study identified major encumbrances facing construction risk and proffered initiatives that would promote sustainable-based construction risk management in turbulent times.

This study investigates encumbrances and suggests measures to promote construction project risk management in turbulent times in Nigeria. Also, the study contributes to the literature’s paucity, uncovering perceived encumbrances and evolving organisations’ management styles to imbed sustainable-based risk management practices by qualitative research design method.

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.

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.

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.

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.

This paper investigates the relationship between risk management practices and potential fraudulent financial reporting in Malaysia by considering recent regulatory reforms of the Malaysian government on risk management practices.

The sample of this study was based on 257 firm-year observations during the 2012–2017 period. This study employed panel-least square regressions with period fixed effects.

This study found a significant association between risk management activities in the disclosure and potential fraudulent financial reporting. Nevertheless, this study found there is insignificant effect of the risk-management committee in reducing potential of fraudulent financial reporting.

This study is a pioneer research that relates firms’ risk management practices with potential fraudulent financial reporting measured by F-score. Thus, this study provides an insight to regulators on the extent of risk-management practices in deterring potential fraudulent financial reporting which can be used as an input for greater enforcement of risk-management regulations.