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• Project Risks and Risky Projects

  164-189

  Pál Michelberger

  Ágnes Kemendi

  Views:

  300

  Projects are key drivers of organizational change, both their failure and success can have significant impact on the organizational performance. Risks may arise throughout the entire project life cycle. Managing these and initial project planning uncertainties is an important task of Project Management. The study describes the application of traditional project management tools and methods in risk analysis, -evaluation and -treatment based on modern project and risk management standards and recommendations. The authors also examine the link between classic project management objectives (project time - resources – scopes) and risk-based decision-making. The different scale and scope of projects call for different responses to the associated risks. The study highlights the possible role of the ISO 31000 risk management standard package in project risk management. The authors analyse the risk management of the different projects on the basis of processing relevant literature, including the relationship of the project stakeholders to the risks. R&D, agile projects and project portfolios have specific and complex risk exposures, but their project management can provide several „hidden” risk analysis and - treatment functions.

• The Importance of Continuous Organizational Project Risk Management and the Value of Project Management Certificates in the Customers’ Eyes

  51-68

  Dániel Simon

  Regina Reicher

  Views:

  127

  In an increasingly complex and volatile business environment, organizational project risk management plays a critical role in determining the chances of project success. Project management has become a common tool in the hands of large organizations for executing development and improving their production cycles in a more carefully planned way. However, the future is often hard to predict, and unexpected events may occur which could have been avoided with the use of the right tools and mindset. This comprehensive research study aims to showcase the importance of continuous risk management in organizations and highlight how risk management contributes to successful project outcomes. By synthesizing information from 59 high-quality publications from Scopus and Web of Science, the research describes various risk mitigation methodologies used across diverse fields, and explores potential obstacles faced by project managers when executing risk management strategies. The primary research of the study builds upon a survey conducted with 181 experienced project managers across various industries to gain deeper insights into their risk management approaches and the constraints they may encounter. Additionally, the study seeks to analyse the value of obtaining project management certificates in relationship with led projects’ length and budget. Employing SPSS, the research presents descriptive statistics, regression, and correlation calculations to further analyse the data gathered. The aim of the research is to draw attention to the significance of continuous risk management, propose effective methodologies, identify and mitigate potential challenges, and shed light on the potential benefits of having certifications in the field of project management. This study aims to present valuable knowledge for both researchers and organizations striving to better understand the field of project risk management strategies through the systematic literature review and quantitative research results presented.