Finding the Links between Risk Management and Project Success: Evidence from International Development Projects in Colombia

Rodríguez‐Rivero, Rocío; Ortiz‐Marcos, Isabel; Romero, Javier; Ballesteros-Sánchez, Luis

doi:10.3390/su12219294

Cited by 10 publications

(10 citation statements)

References 55 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Many authors find culture-related factors as determinants when executing an international project [35][36][37][38]. Hartono et al [23] and Rodríguez-Rivero et al [39] highlight that these factors are especially relevant for IDPs.…”

Section: Risk Management In International Development Projectsmentioning

confidence: 99%

The methodology of the Logical Framework with a Risk Management Approach to Improve the Sustainability in the International Development Projects

Rodríguez‐Rivero

Ortiz‐Marcos

2022

Sustainability

Self Cite

View full text Add to dashboard Cite

When working with international development projects (IDPs), the use of the logical framework approach (LFA) prevails as the most important tool to plan and manage these projects. This paper presents how the methodology has been enriched, including risk management (LFRMA logical framework with risk management approach), proposing an original contribution, tested with professionals that will improve the effectiveness of IDPs by increasing their success rate and their sustainability. The steps followed to design the methodology (problem statement (literature review, interview with experts, questionnaire for professionals. and statistical analysis), case study analysis (eight case studies in Colombia, interviews with IDPs managers, focus groups, questionnaire for participants, qualitative analysis, and fuzzy analysis) and design of LFRMA (focus group with experts)) and the methodology itself (how to introduce risk management during all the life cycle through the methodology steps) are presented. Conclusions answer the research questions: can the effectiveness and sustainability of IDPs be improved? Can risk management help to improve IDPs effectiveness? Would it be useful to introduce risk management into the LFA? The LFRMA methodology consists of two fields of application, the first at the organization level and the second at the project level.

show abstract

Section: Risk Management In International Development Projectsmentioning

confidence: 99%

The methodology of the Logical Framework with a Risk Management Approach to Improve the Sustainability in the International Development Projects

Rodríguez‐Rivero

Ortiz‐Marcos

2022

Sustainability

Self Cite

View full text Add to dashboard Cite

show abstract

“…The weak cost performance of a project can be considered as a failure in project management, since traditionally project success has been linked to high efficiency in the three main aspects of scope, time, and cost, known as the golden triangle [4]. Therefore, determining and eliminating the risk factors that reduce efficiency in any of the mentioned aspects (risk factors) can significantly improve the level of project success [5,6], and thus improve economic sustainability.…”

Section: Problem Statementmentioning

confidence: 99%

“…Cost inaccuracy poses a risk to the sustainable implementation of infrastructure projects. Therefore, determining the parameters affecting cost accuracy will not only improve the cost performance of the project and result in economically sustainable project management, but can also result in the better use of resources and thus further preservation of the environment [1, 5,6].…”

Section: Research Aimmentioning

confidence: 99%

Sustainable Project Management: Reducing the Risk of Cost Inaccuracy Using a PLS-SEM Approach

et al. 2022

View full text Add to dashboard Cite

Determining the factors leading to cost inaccuracy in infrastructure projects relates to sustainability by improving the cost performance of the projects (economic sustainability) and reducing the waste of available resources (environmental sustainability). This study investigates the effects of various factors affecting the cost performance of large-scale road projects in Norway in both the planning and construction phases. To this aim, a quantitative approach using a questionnaire survey was employed to understand the attitude of practitioners towards various factors causing cost increases. An advanced multivariate statistical approach of Partial Least Square Structural Equation Modeling (PLS-SEM) and Relative Importance Index (RII) was utilized to analyze the questionnaire responses. The results of the RII analysis show that local wishes, defective estimations, and long processing times had the most impact on the cost increase during the planning phase. At the same time, scope changes, market conditions, and unforeseen ground conditions were the most influential parameters in the construction phase. Moreover, the results obtained from PLS-SEM reveal that external related factors had the most influence among the other grouped factors (i.e., pre-construction, project management and contractual relationship, contractor’s site management, and external) on cost overrun during the construction phase. Increasing the knowledge of these factors will allow for developing relevant project management approaches targeted at improving economic and environmental sustainability within both the planning and construction phases.

show abstract

“…Kerzner [16] considers that risk management involves a continuous and positive approach to project's risks in order to increase its probability of success. Thereby, risk management is progressively perceived as a process of increasing the probability of project success [17].…”

Section: Literature Review 21 Defining Risk Managementmentioning

confidence: 99%

Fundamental elements regarding the approach of risk management within the international projects with teams in the virtual environment

2021

View full text Add to dashboard Cite

International projects with teams in the virtual environment (IPTVE) are known as complex and high risk projects, these features being considered as significant obstacles to project success. Applying the appropriate risk management methodology could increase their success rate, becoming a fundamental tool for decision making. Research on IPTVE management risks is scarce, focused on specific sectors as software development or construction, without taking into account the differences between traditional and international projects. Thereby, risk management within IPTVE becomes a necessary approach for the performance in managing international projects. This article aims to improve the risk management process within IPTVE, by proposing a flexible theoretical model of the process.

show abstract

Finding the Links between Risk Management and Project Success: Evidence from International Development Projects in Colombia

Cited by 10 publications

References 55 publications

The methodology of the Logical Framework with a Risk Management Approach to Improve the Sustainability in the International Development Projects

The methodology of the Logical Framework with a Risk Management Approach to Improve the Sustainability in the International Development Projects

Sustainable Project Management: Reducing the Risk of Cost Inaccuracy Using a PLS-SEM Approach

Fundamental elements regarding the approach of risk management within the international projects with teams in the virtual environment

Contact Info

Product

Resources

About