2018
DOI: 10.18485/epmj.2018.8.2.5
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Application of the FMEA Technique in a Project Risk Analysis

Abstract: Project risk management aims at defining adequate risk response strategies, which includes the prior identification and analysis of project risks. By using techniques such as FMEA (Failure Modes and Effects Analysis) for project risk analysis, it is possible to prevent ineffective and inefficient spending of time and resources in the project, prevent failures and contribute to meeting the project goals and the project success.

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Cited by 5 publications
(2 citation statements)
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References 8 publications
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“…Modern scientific methods are increasingly effective at estimating risk in different areas [12,13]. As an example, the implementation of risk management tools based on a combination of decision-making methods that extract expert knowledge to improve the accuracy of making the best decision was discussed in a paper about implementation in photovoltaic facilities [14].…”
Section: Related Workmentioning
confidence: 99%
“…Modern scientific methods are increasingly effective at estimating risk in different areas [12,13]. As an example, the implementation of risk management tools based on a combination of decision-making methods that extract expert knowledge to improve the accuracy of making the best decision was discussed in a paper about implementation in photovoltaic facilities [14].…”
Section: Related Workmentioning
confidence: 99%
“…According to Cordel "it's not rare that more than 50% of companies' big project fails", because they don't take into account all the potential risks and especially human risks which are the most numerous and the most present. Secondly, companies have to consider that risk can occur directly during the project launch [15,16].…”
Section: Hypothesismentioning
confidence: 99%