Categorizing Risks in Seven Large Projects—Which Risks Do the Projects Focus On?

Krane, Hans Petter; Rolstadås, Asbjørn; Olsson, Nils O.E.

doi:10.1002/pmj.20154

Cited by 40 publications

(31 citation statements)

References 15 publications

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“…This topic has been advocated as a critical aspect in managing megaprojects (Miller and Lessard 2000;Flyvbjerg et al 2003;Fiori and Kovaka 2005). Specific topics of the identified papers included risk identification (Santoso et al 2003;Busby and Hughes 2004;de Camprieu et al 2007;Krane et al 2010), risk measurement (Molenaar 2005;Sun et al 2008), and risk control methods (Schexnayder et al 2004;Flyvbjerg 2006). Table shows that research interest in this area has grown since 2003.…”

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confidence: 99%

From Construction Megaproject Management to Complex Project Management: Bibliographic Analysis

et al. 2015

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The rapid growth of construction megaprojects worldwide has triggered a growing number of papers published in this area in the past two decades, suggesting that construction megaproject management has become an emerging area in the field of Construction Engineering and Management (CEM). This study aims to investigate the status and the trends in megaproject research by conducting a structured literature review. Eighty-five relevant articles identified from eight peer-reviewed CEM journals between 2000 and 2010 were analyzed based on the number of articles published annually, institutional and regional contributions, citations, and categorization of research interests and methodologies. Analysis results indicated that developed countries, such as the UK, the US, and Australia, have enjoyed significant advantages in megaproject research because of their longer experience, meanwhile, megaproject research in developing countries, such as Russia, India, Turkey, This is the Pre-Published Version. 2 and Vietnam, remains weak or lacking. These results also revealed that many theory-based findings have been reported in five sub-areas, namely, construction and site management, cost and schedule management, risks analysis and management, innovation and utilization of information technology, and leadership and professional development. The sub-areas of organization and stakeholder management, project planning and procurement, and project monitoring and control remain to be promising domains for future research, particularly in developing countries which have yet to develop a research tradition. Incorporating the complexity theory and institutional theory as the theoretical foundation in these sub-areas can further develop megaproject research through strengthened global collaboration in the future.

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confidence: 99%

From Construction Megaproject Management to Complex Project Management: Bibliographic Analysis

et al. 2015

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“…The project’s mission, management support, calendar planning, client consulting and acceptance, technical and personal aspects, monitoring, communication and feedback are defined as success factors. In other words, a poor organization, an incorrect definition of the project scope, an incorrect identification of risks, a lack of planning and failure to monitor and control are the main cause of project failure (Krane et al, 2010).…”

Section: Theory and Hypothesis Developmentmentioning

confidence: 99%

The main causes of risk in residential real estate projects

Pereira¹,

Ferreira

António³

2020

Journal of General Management

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In the recent years, the Portuguese Real Estate Market has been increasing exponentially. This growth, has generated, in the real estate companies, the need to implement effective project management tools and frameworks in order to provide important metrics of budget control, deadlines and increase risk management. This study aims to understand the different causes of risks in real estate projects and to measure the risk factors that provoke deviations, in terms of cost, time and quality in the real estate market in Portugal. To measure these risk factors, a new methodology has been implemented, namely a new real estate risk plan model for predicting the risks inherent to new construction projects. This methodology aims to produce new and more accurate strategies and plans so as to effectively respond to potential risks and thus achieve the proposed objectives through the desired success. This methodology allows companies to effectively implement a project in a timely manner in order to reduce and mitigate the probability of risk failure based on risk management tools and techniques. The results of this case study have shown that implementing a risk management project is crucial to highlight and measure the risk of project failures and that Companies must implement risk indicators or triggers that give visibility to potential risks/losses that impact company objectives and, on the other hand, establish metrics that translate the organization’s appetite and tolerance into critical risks.

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“…Recent work has attributed these failures to the uncertainty experienced during planning and delivery (Flyvbjerg, ) and specifically to the cognitive limitations of planning teams to perceive and manage these uncertainties (Flyvbjerg & Molloy, ). Other work examines megaprojects as organizational forms (Alderman & Ivory, ) along with specific aspects of megaproject management, such as scope management, site management (Rajendran & Gambatese, ), and risk management (Krane, Rolstadås, & Olsson, ).…”

Section: Introductionmentioning

confidence: 99%

Online Stakeholder Interactions in the Early Stage of a Megaproject

Williams

Ferdinand

Pasian

2015

Project Management Journal

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The purpose of this paper is to examine the network structure of online stakeholder discussions in the planning stage of a UK public mega project, High Speed Rail. By providing new rail connections between London, Birmingham and Manchester, this project is highly complex as it is embedded in a network of stakeholder relationships that may support or oppose the project.Data drawn from Twitter was analyzed using Social Network Analysis and inductive analysis of user profiles and content. Findings indicate that the majority of online stakeholders oppose the project and form stable clusters. Larger clusters within this network may attempt to deploy power directly in the form of a manipulation strategy while smaller clusters may seek to ally themselves with more powerful groups, a pathway strategy. Overall, the methodology is a useful complement to existing methods and may provide real time insights into the complex, evolving discussions around mega projects.

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Categorizing Risks in Seven Large Projects—Which Risks Do the Projects Focus On?

Cited by 40 publications

References 15 publications

From Construction Megaproject Management to Complex Project Management: Bibliographic Analysis

From Construction Megaproject Management to Complex Project Management: Bibliographic Analysis

The main causes of risk in residential real estate projects

Online Stakeholder Interactions in the Early Stage of a Megaproject

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