This article examines the effectiveness of current risk management practices to reduce project risk using a multinational, multi-industry study across different scenarios and cultures. A survey was administered to 701 project managers, and their supervisors, in seven industries and three diverse countries (New Zealand, Israel, and Japan), in multiple languages during the 2002-2007 period. Results of this study show that project context--industry and country where a project is executed--significantly impacts perceived levels of project risk, and the intensity of risk management processes. Our findings also suggest that risk management moderates the relationship between risk level and project success. Specifically, we found that even moderate levels of risk management planning are sufficient to reduce the negative effect risk levels have on project success.
The accelerating pace of change in globalization, communications, disruptive technologies, capital flows and alliances have created fundamental shifts in business operations. Where many popular leadership models may provide formulae to help solve some business problems, they are insufficient to deal with the pace and polyvalent character of constant, rapid change. Managing change- its impact on organizational structure, group culture, and personal management styles - is one of the most fundamental and enduring aspects of leadership. Paradoxically, while the relative value of the once-celebrated individual leader as superman or woman is being questioned, great leadership has never been more urgent or more difficult.
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