dEjournals Nyitóoldal
International Journal of Engineering and Management Sciences
Regisztráció Aktuális szám Megjelenés előtti cikkek Archívum Indexáltság Beküldés Kapcsolat Keresés
Regisztráció Bejelentkezés
IJEMS

Évf. 9 szám 1 (2024)
Menedzsmenttudományok

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

Megjelent:
2024-03-28
DOI Linkhttps://doi.org/10.21791/IJEMS.2024.002
Szerzők
Simon Dániel,
Reicher Regina
Megtekintés
PDF (Angol)
Kulcsszavak
Project Management Continuous Risk Management Organizational Risk
Licenc

Copyright (c) 2024 Dániel Simon, Regina Reicher

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Hogyan hivatkozzuk
Kiválasztott formátum: APA
Simon, D., & Reicher , R. (2024). The Importance of Continuous Organizational Project Risk Management and the Value of Project Management Certificates in the Customers’ Eyes. International Journal of Engineering and Management Sciences, 9(1), 51-68. https://doi.org/10.21791/IJEMS.2024.002
Absztrakt

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.

Hivatkozások
  1. S. S. Al-Qubaisi, “Incidents investigations and learning approach in oil & gas industry,” in Society of Petroleum Engineers - Abu Dhabi International Petroleum Exhibition and Conference 2019, ADIP 2019, 2019. doi: 10.2118/197862-ms.
  2. V. V. Andreev and S. N. Malozemov, “Development of an algorithm for selecting the optimal set of tools and techniques for Agile project management in industry and engineering,” in CEUR Workshop Proceedings, 2020, pp. 76–80.
  3. M. Carlsson, S. Hintze, and H. Stille, “On risk management in large infrastructure projects,” in Proceedings of the 16th International Conference on Soil Mechanics and Geotechnical Engineering: Geotechnology in Harmony with the Global Environment, 2005, pp. 2785–2788.
  4. Project Management Institute, A Guide to the project management body of knowledge (PMBOK® guide) (6th ed.). Newtown Square: Project Management Institute, 2017.
  5. A. F. Serpell, X. Ferrada, and L. Rubio, “Measuring the performance of project risk management: a preliminary model,” Organization, Technology and Management in Construction, vol. 11, no. 1, pp. 1984–1991, 2019, doi: 10.2478/otmcj-2019-0005.
  6. P. X. W. Zou, S. Wang, and D. Fang, “A life-cycle risk management framework for PPP infrastructure projects,” Journal of Financial Management of Property and Construction, vol. 13, no. 2, pp. 123–142, 2008, doi: 10.1108/13664380810898131.
  7. J. Christensen, K. Søndergaard, L. Serwanski, T. B. Bojsen, and T. Tambo, “A risk management framework for implementation of emerging technologies,” in Proceedings of the European Conference on Innovation and Entrepreneurship, ECIE, 2018, pp. 199–207.
  8. G. B. Fotso and E. I. Edoun, “Effectiveness of information system trough enterprise resource planning (Erp) and project management,” in Proceedings of the 11th European Conference on Information Systems Management, ECISM 2017, 2017, pp. 121–128.
  9. M. Teymouri and M. Ashoori, “The impact of information technology on risk management,” in Procedia Computer Science, 2011, pp. 1602–1608. doi: 10.1016/j.procs.2011.01.056.
  10. J. Zhu, Y. Cheng, and Y. Zhang, “Risk propagation mechanism research based on SITR model of complex supply networks,” International Journal of Information Systems and Supply Chain Management, vol. 14, no. 3, pp. 18–38, 2021, doi: 10.4018/IJISSCM.2021070102.
  11. B. J. Galli, “Risks related to lean six sigma deployment and sustainment risks: How project management can help,” International Journal of Service Science, Management, Engineering, and Technology, vol. 9, no. 3, pp. 82–105, 2018, doi: 10.4018/IJSSMET.2018070106.
  12. C. Apostolopoulos, G. Halikias, K. Maroukian, and G. Tsaramirsis, “Facilitating organisational decision making: a change risk assessment model case study,” Journal of Modelling in Management, vol. 11, no. 2, pp. 694–721, 2016, doi: 10.1108/JM2-05-2014-0035.
  13. M. Saunders, P. Lewis, and A. Thornhill, Research methods for business students. Pearson education, 2009.
  14. E. Verzuh, The Fast Forward MBA in Project Management. New Jersey: John Wiley & Sons Inc., 2016.
  15. R. Gareis, Happy Projects!, 2nd ed. Germany, 2006.
  16. D. M. Mertens, Research and evaluation in education and psychology: Integrating diversity with quantitative, qualitative, and mixed methods. Sage publications, 2023.
  17. F. Khalaf and M. Abu El Ela, “The risk management Process - An overview,” in Society of Petroleum Engineers - 9th International Conference on Health, Safety and Environment in Oil and Gas Exploration and Production 2008 - “In Search of Sustainable Excellence,” 2008, pp. 556–565.
  18. T. Aven, “Risk assessment and risk management: Review of recent advances on their foundation,” Eur J Oper Res, vol. 253, no. 1, pp. 1–13, Aug. 2016, doi: 10.1016/j.ejor.2015.12.023.
  19. G. M. Hill, “Evolving the project management office: a competency continuum,” Information systems management, vol. 21, no. 4, pp. 45–51, 2004.
  20. M. Escobar and G. Armando, “Management in the continuous assessment of computer risk, an agile project,” in 2019 IEEE 39th Central America and Panama Convention, CONCAPAN 2019, 2019, pp. 1–5. doi: 10.1109/CONCAPANXXXIX47272.2019.8976980.
  21. H. E. Hosny, A. H. Ibrahim, and R. F. Fraig, “Risk management framework for Continuous Flight Auger piles construction in Egypt,” Alexandria Engineering Journal, vol. 57, no. 4, pp. 2667–2677, 2018, doi: 10.1016/j.aej.2017.10.003.
  22. X. Franch et al., The RISCOSS platform for risk management in open source software adoption, vol. 451. 2015. doi: 10.1007/978-3-319-17837-0_12.
  23. J. S. Perera, “Risk management for the international space station,” in European Space Agency, (Special Publication) ESA SP, 2002, pp. 339–344.
  24. B. A. Colle, R. Auld, K. Johnson, C. O’Connell, T. G. Taylor, and J. Rice, “Improving communication of uncertainty and risk of high-impact weather through innovative forecaster workshops,” Bull Am Meteorol Soc, vol. 102, no. 7, pp. E1424–E1430, 2021, doi: 10.1175/BAMS-D-20-0108.1.
  25. B. PogAčnik, J. Duhovnik, and J. TAvčAr, “Aircraft fault forecasting at maintenance service on the basis of historic data and aircraft parameters,” Eksploatacja i Niezawodność, vol. 19, no. 4, pp. 624–633, 2017.
  26. S. DuHadway, S. Carnovale, and B. Hazen, “Understanding risk management for intentional supply chain disruptions: risk detection, risk mitigation, and risk recovery,” Ann Oper Res, vol. 283, no. 1–2, SI, pp. 179–198, Dec. 2019, doi: 10.1007/s10479-017-2452-0.
  27. O. Taylan, “IT project risk assessment of learning organizations by fuzzy set and systems,” International Journal of Organizational Analysis, vol. 22, no. 2, pp. 161–180, 2014, doi: 10.1108/IJOA-10-2010-0456.
  28. B. Adi Prakoso and E. Kuswardono Budiardjo, “The Usage of Agile Adoption Framework to Assess Scrum Process and Recommend Improvements,” in ACM International Conference Proceeding Series, 2021, pp. 28–32. doi: 10.1145/3451471.3451476.
  29. M. Shameem, M. Nadeem, and A. T. Zamani, “Genetic algorithm based probabilistic model for agile project success in global software development,” Appl Soft Comput, vol. 135, 2023, doi: 10.1016/j.asoc.2023.109998.
  30. S. Demirkesen and H. G. Bayhan, “A Lean Implementation Success Model for the Construction Industry,” EMJ - Engineering Management Journal, vol. 32, no. 3, pp. 219–239, 2020, doi: 10.1080/10429247.2020.1764834.
  31. C.-T. Su and C.-J. Chou, “A systematic methodology for the creation of Six Sigma projects: A case study of semiconductor foundry,” Expert Syst Appl, vol. 34, no. 4, pp. 2693–2703, 2008, doi: 10.1016/j.eswa.2007.05.014.
  32. M. T. Azhar, M. B. Khan, and M. M. Zafar, “Architecture of an Enterprise Project Life Cycle using Hyperledger platform,” in MACS 2019 - 13th International Conference on Mathematics, Actuarial Science, Computer Science and Statistics, Proceedings, 2019. doi: 10.1109/MACS48846.2019.9024764.
  33. B. Ritchie and C. Brindley, Effective management of supply chains: Risks and performance. 2009. doi: 10.1007/978-1-84882-634-2_2.
  34. C. Bolvin, R. Farret, and O. Salvi, “Convergence towards integrated risk management: Results from the European SHAPE-RISK project and other initiatives,” in Proceedings of the European Safety and Reliability Conference 2007, ESREL 2007 - Risk, Reliability and Societal Safety, 2007, pp. 1683–1687.
  35. H. Guo and S. Fan, “Research on Application of Project Quality Management Theory in Safety Management of Electric Power Construction Under the Perspective of Resources Engineering System Optimization,” in Conference Proceedings of the 10th International Symposium on Project Management, China, ISPM 2022, 2022, pp. 1614–1620. doi: 10.52202/065147-0220.
  36. R. Bierwolf, P. Frijns, and P. Van Kemenade, “Project management in a dynamic environment: Balancing stakeholders,” in Proceedings of the 2017 IEEE European Technology and Engineering Management Summit, E-TEMS 2017, 2017, pp. 1–6. doi: 10.1109/E-TEMS.2017.8244226.
  37. G. Capaldo and R. Pierluigi, “A methodological proposal to assess the feasibility of ERP systems implementation strategies,” in Proceedings of the Annual Hawaii International Conference on System Sciences, 2008. doi: 10.1109/HICSS.2008.30.
  38. C. Ceocea, R. A. Ceocea, A. Vatamaniuc, and V. Mihălaș, “RISK MANAGEMENT IN PUBLIC PROCUREMENT PROCESS. PARTICULARITIES AND SOLUTIONS FOR OPTIMIZING PUBLIC PROCUREMENT IN ROMANIA IN THE CONTEXT OF EMERGENCY CAUSED BY THE COVID-19 CRISIS,” STUDIES AND SCIENTIFIC RESEARCHES. ECONOMICS EDITION, no. 31, 2020.
  39. M. Cevikbas, O. Okudan, and Z. Işık, “Identification and assessment of disruption claim management risks in construction projects: a life cycle-based approach,” Engineering, Construction and Architectural Management, 2022, doi: 10.1108/ECAM-05-2022-0470.
  40. D. DePalmer, S. Schuldt, and J. Delorit, “Prioritizing facilities linked to corporate strategic objectives using a fuzzy model,” Journal of Facilities Management, vol. 19, no. 3, pp. 358–376, 2021, doi: 10.1108/JFM-12-2020-0091.
  41. N. Dobrovolskienė and R. Tamošiūnienė, “An index to measure sustainability of a business project in the construction industry: Lithuanian case,” Sustainability (Switzerland), vol. 8, no. 1, 2016, doi: 10.3390/su8010014.
  42. L. M. Khodeir and E. M. Nabawy, “Responsive human resource framework for design and building of mega housing development projects in Egypt,” Ain Shams Engineering Journal, vol. 12, no. 2, pp. 2371–2383, 2021, doi: 10.1016/j.asej.2020.09.025.
  43. A. Manzoni, A. Prete, and G. Searle, “Production optimization : Minimize possible production losses throught a reliable and effective shut down strategy, method and approach,” in Offshore Mediterranean Conference and Exhibition 2011, OMC 2011, 2011.
  44. M. Martinsuo and T. Ahola, “Supplier integration in complex delivery projects: Comparison between different buyer-supplier relationships,” International Journal of Project Management, vol. 28, no. 2, pp. 107–116, 2010, doi: 10.1016/j.ijproman.2009.09.004.
  45. P. Minten, R. Hayes, and C. Boyes, “Additional tools and strategies to support lean manufacturing and Continuous Improvement in a continuous roster manufacturing environment. An example from Norske Skog Tasman,” Appita Journal, vol. 66, no. 1, pp. 33–38, 2013.
  46. E. Moballeghi, T. Pourrostam, H. Abbasianjahromi, and P. Makvandi, “Assessing the Effect of Building Information Modeling System (BIM) Capabilities on Lean Construction Performance in Construction Projects Using Hybrid Fuzzy Multi-criteria Decision-Making Methods,” Iranian Journal of Science and Technology - Transactions of Civil Engineering, vol. 47, no. 3, pp. 1871–1891, 2023, doi: 10.1007/s40996-022-00971-1.
  47. A. Mossalam and M. Arafa, “Governance model for integrating organizational project management (OPM) with corporate practices,” HBRC Journal, vol. 13, no. 3, pp. 302–314, 2017, doi: 10.1016/j.hbrcj.2015.08.003.
  48. M. Mustapha and A. Adnan, “A case study of enterprise risk management implementation in Malaysian construction companies,” International Journal of Economics and Financial Issues, vol. 5, pp. 70–76, 2015.
  49. D. M. Rodrigues Napolitano and R. J. Sassi, “Fuzzy inference system model based on probability and impact matrices to classify risks in projects,” NAVUS-REVISTA DE GESTAO E TECNOLOGIA, vol. 8, no. 4, pp. 69–89, Oct. 2018, doi: 10.22279/navus.2018.v8n4.p69-89.717.
  50. B. Y. Renault, J. N. Agumba, and N. Ansary, “Establishing Core Factors of Risk Management Influencing Performance Outcome of Small and Medium Firm’s Construction Projects in Gauteng,” Journal of Construction in Developing Countries, vol. 25, no. 2, pp. 93–127, 2020, doi: 10.21315/jcdc2020.25.2.4.
  51. S. Sawaryn, D. Dressler, K. Been, and T. Bailey, “Deploying common process across global wells teams - Integrating an online project management application with effective behaviours to enable high performance,” in Proceedings - SPE Annual Technical Conference and Exhibition, 2005, pp. 563–573.
  52. G. Schimak, R. Duro, and P. Kutschera, “Collaboration and decision making tool for emergency & crises situations,” in Proceedings of the 6th International Disaster and Risk Conference: Integrative Risk Management - Towards Resilient Cities, IDRC Davos 2016, 2016, pp. 555–558.
  53. G. W. Schneider, M. DeHaven, and L. M. Snell, “Fostering a culture of prevention in a residency program through a continuous quality improvement project,” American Journal of Medical Quality, vol. 18, no. 2, pp. 82–89, 2003, doi: 10.1177/106286060301800206.
  54. S. Shanmugapriya and K. Subramanian, “Structural equation model to investigate the factors influencing quality performance in Indian construction projects,” Sadhana - Academy Proceedings in Engineering Sciences, vol. 40, no. 6, pp. 1975–1987, 2015, doi: 10.1007/s12046-015-0421-3.
  55. S. A. Shinn and V. A. Lunz, “Managing Cost, schedule, and technical performance through a sustained change framework,” in IEEE Aerospace Conference Proceedings, 2015. doi: 10.1109/AERO.2015.7119116.
  56. J. Temple and R. E. Landaeta, “Countervailing Risk Management Through Knowledge Transfer,” EMJ - Engineering Management Journal, vol. 32, no. 4, pp. 242–252, 2020, doi: 10.1080/10429247.2020.1753489.
  57. S. Tripathi and M. Gupta, “A Current Review of Supply Chain Performance Measurement Systems,” in ADVANCES IN INDUSTRIAL AND PRODUCTION ENGINEERING, K. Shanker, R. Shankar, and R. Sindhwani, Eds., in Lecture Notes in Mechanical Engineering. 2019, pp. 27–39. doi: 10.1007/978-981-13-6412-9_4.
  58. C. M. Vargas and H. Scott, “Continuous improvement strategy to stimulate sustainability and enhance environmental management,” in Society of Petroleum Engineers - Abu Dhabi International Petroleum Exhibition and Conference, ADIPEC 2015, 2015. doi: 10.2118/177536-ms.
  59. A. Vena and G. Baldesi, “Knowledge management as mitigation of strategic risks,” in Proceedings of the International Astronautical Congress, IAC, 2019.
  60. B. Qiang, R. Zhang, Y. Chen, and T. Zhang, Construction of a Scientific Research Integrated Management Information Service Platform Integration in a Form of Cross-Platform and Multi-disciplinary Organization. 2021. doi: 10.1007/978-981-15-8342-1_29.
  61. O. U. Rehman and Y. Ali, “Enhancing healthcare supply chain resilience: decision-making in a fuzzy environment,” INTERNATIONAL JOURNAL OF LOGISTICS MANAGEMENT, vol. 33, no. 2, pp. 520–546, Apr. 2022, doi: 10.1108/IJLM-01-2021-0004.
Adatbázis logók
DOAJ MTMT SHERPA EIRHPLUS EBSCO CROSSREF