An empirically verified project risk maturity model

Hartono, Budi; Wijaya, Deo Fani Nur; Arini, Hilya Mudrika

doi:10.1108/ijmpb-03-2013-0015

Cited by 48 publications

(8 citation statements)

References 9 publications

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“…Hence, the modularity directly connects MM and BPM systems, allowing minimum human intervention during maturity measurement for this object. x x Multiple Brazil [20] x x Multiple Multiple [21] x x x x Multiple Brazil [22] x x Construction India [23] x x Multiple Taiwan [24] x x Electronics India [25] x x Textile Poland [26] x x x x Manufacturing Austria [27] x x Multiple Italy [28] x x Multiple Italy [29] x Multiple Italy [30] x x Services Poland [31] x x Engineering Denmark [32] x x Steel Slovenia [33] x x Multiple Hungary [34] x x Multiple Austria [35] x x x Manufacturing Canada [36] x x Manufacturing Ireland [37] x x x Engineering Morocco [38] x x x Manufacturing Multiple [39] x x x Multiple Brazil [40] x x Manufacturing Switzerland [41] x x Construction Indonesia [42] x x Government Indonesia [43] x x Textile China [44] x x x x Manufacturing Brazil [45] x x Multiple UK [46] x x Multiple Italy [47] x x Manufacturing France [48] x x Construction UK [49] x Additionally, the adapted design from the "Intelligent Project-based Organization Maturity Model" or IPBOM [37] could be considered, although it does not specifically define the prescriptive decision on its design. The model integrates its data source with the company's business intelligence system supporting the decision-making.…”

Section: Advanced Analytical Featuresmentioning

confidence: 99%

Industry 4.0 Maturity Models to Support Smart Manufacturing Transformation: A Systematic Literature Review

Susanto

Simatupang

Wasesa

2023

J. RESTI (Rekayasa Sist. Teknol. Inf.)

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With increasing pressure to revitalize manufacturing industries with Smart Manufacturing capability within the Industry 4.0 (I4.0) context, companies have uneven readiness reflecting their gaps and barriers for transforming to the I4.0 state. Understanding factors and measuring a company’s maturity in addressing the I4.0 transformation is crucial to diagnose the company’s current condition and provide corresponding prescriptive action plan effectively. Despite the positive trend of maturity models for the industries, companies still face challenges with low I4.0 adoption rate. Designing a corresponding diagnostic framework into an intelligent maturity model will ultimately lead the company’s pathways toward the desired capabilities. In response, we systematically review and select the state-of-the-art research through a Systematic Literature Review (SLR) conduct to scrutinize the main characteristics of 14.0 Maturity Models. Subsequently, 35 exceptional articles published between 1980-2020 were selected for in-depth analysis of their structure, dimensions, and analytical features. Our analysis revealed the descriptive method have been widely used in many maturity models while few more-advanced prescriptive models design adopt fuzzy rule-base analytical hierarchy, knowledge based, Monte-Carlo methods, and even expert-system approaches. Furthermore, people, culture, organization, resources, information system, business processes, and smart technology, products and services have been treated as the popular evaluation dimensions which will define the state of an industry’s maturity level.

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Section: Advanced Analytical Featuresmentioning

confidence: 99%

Industry 4.0 Maturity Models to Support Smart Manufacturing Transformation: A Systematic Literature Review

Susanto

Simatupang

Wasesa

2023

J. RESTI (Rekayasa Sist. Teknol. Inf.)

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“…Level 3 of formalization establishes robust financial risk management structures and processes for PPP projects. The formalized financial structures are understood and experienced in the process of managing PPP projects (Hartono et al , 2014; Qureshi et al , 2009). Progress from Level 3 to Level 4 is ascertained when existing financial risk management models are improved continuously through training and amendment of existing models to embrace new practices and technologies (Qureshi et al , 2009).…”

Section: Conceptual Frameworkmentioning

confidence: 99%

Critical managerial measures on financial risks of sustainable public–private partnership projects: a PRISMA review

Akomea-Frimpong

Jin

Osei‐Kyei

et al. 2023

JFMPC

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Purpose Public–private partnership (PPP), a project financing arrangement between private investors and the public sector, has revolutionized the approach to the funding and development of public infrastructure worldwide. However, the increasing cases of financial risks and poor financial risk management related to the model threaten the sustainability and financial success of PPP projects leading to huge financial investment losses. This study aims to review existing literature to establish the key measures to control the financial risks of sustainable PPP projects. Design/methodology/approach A PRISMA-compliant systematic literature review method was used in this study. Data were sourced from academic databases consisting of 56 impactful peer-reviewed journal articles. Findings The review outcomes demonstrate 41 critical factors (measures) in mitigating the financial risks of sustainable PPP projects. They include minimum revenue guarantee, strategic alliance with private investors, financial transparency and accountability and sound macroeconomic policies. The principal results of the study were categorized and conceptualized into a financial risk management maturity model for sustainable PPP projects. Lastly, the study reveals that further studies and project policies must focus more on addressing financial challenges relating to climate risks, and health and safety concerns such as COVID-19 outbreak that have negative impacts on PPP projects. Research limitations/implications The results provide essential research gaps and directions for future studies on measures to mitigate the financial risks of sustainable PPP projects. However, this study used small but significant existing publications. Practical implications A checklist and a conceptual maturity model are provided in this study to help practitioners to learn and improve upon their practices to mitigate the financial risks of sustainable PPP projects. Originality/value This study contributes to managerial measures to reduce huge losses in financial investments of PPP projects and the attainment of sustainability in public infrastructure projects with a financial risk maturity model.

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“…Their involvement in the scandalous Banco Espanol de Credito led to a gigantic 10 percent loss in their shareholder value. The loss was estimated to stand at roughly $1.5 billion (Therese & Mark, 2016;Hartono et al, 2014;Galli, 2018c;Cova & Salle, 2005;Burnes, 2014). Thus, a slight decline in reputation may have more adverse financial consequences compared to those incurred from accounting losses.…”

Section: Reputation Riskmentioning

confidence: 99%

Economic Decision-Making and Risk Management

Galli

2021

International Journal of System Dynamics Applications

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Because of the recent financial crisis in the United States that shook the financial sector, the need for adopting effective Risk Management practices has increased. Essentially, the volatility of the sector calls for an augmented re-evaluation of the framework, as well as the components of uncertainty management practices by commercial banks, regulatory agencies, and scholars. By doing so, the stakeholders in the financial sector would ensure the conformity to the best practices. To further fortify this, the research herein uses the Ames National Corporation (ANC), which is a commercial Bank in Iowa, USA, as a case study. The institution risk profile and risk management practices are evaluated to give insights on conforming to the best international practices. The research also seeks to establish whether effective risk management results in enhanced performance and profitability for financial institutions.Stating areas on which further research should be conducted is how the study is concluded.

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An empirically verified project risk maturity model

Cited by 48 publications

References 9 publications

Industry 4.0 Maturity Models to Support Smart Manufacturing Transformation: A Systematic Literature Review

Industry 4.0 Maturity Models to Support Smart Manufacturing Transformation: A Systematic Literature Review

Critical managerial measures on financial risks of sustainable public–private partnership projects: a PRISMA review

Economic Decision-Making and Risk Management

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