Shedding New Light on Project Portfolio Risk Management

Hofman, Mariusz; Spałek, Seweryn; Grela, Grzegorz

doi:10.3390/su9101798

Cited by 30 publications

(38 citation statements)

References 66 publications

(124 reference statements)

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“…The outcomes of projects were very often limited to construction and military areas, with the usage of different tools and techniques to support single project management. With the increasing number of projects run by companies worldwide, new threats and opportunities appeared (Donmez and Grote, 2018; Hofman et al., 2017). They were mostly associated with the rapid development of new tools and techniques over time (Spalek, 2016).…”

Section: Introductionmentioning

confidence: 99%

Opportunities and threats presented by social media in project management

Hysa

Spałek

2019

Heliyon

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The application of new technologies is rapidly increasing, not only in private but also in professional spheres, including project management. However, the use of social media (SM) may be both beneficial and dangerous. Therefore, the goal of the article is to investigate in which areas it is possible to use social media in project management and what the opportunities and threats surrounding it are. In order to reach the goal of the article and obtain answers to the research questions, the methods of diagnostic survey and questionnaire technique were used. The research was carried out on a sample of 108 respondents involved in the project's implementation. To complement the obtained data, additional qualitative research using unstructured interviews was conducted. The presented research indicates that managers who work in an Agile or Hybrid way are more likely to use SM than managers who work in a traditional way. A significant dependency between the use of SM and the way the project team works was confirmed, but no age differences were found. Moreover, the results of the study show that social media usually supports project managers and team members in such areas as communication, cooperation, engagement, knowledge management, work productivity, promotion of the project and employee development. Threats concerning the use of social media in project management are noted in relation to the security of the project and loss of sensitive project data. Analysis of the study and interviews resulted in a broad set of principles of SM usage within projects. Future research could provide further confirmation of these findings by using larger samples.

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Section: Introductionmentioning

confidence: 99%

Opportunities and threats presented by social media in project management

Hysa

Spałek

2019

Heliyon

Self Cite

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“…[ [45][46][47] Lack of related personnel liquidity among projects (R14) e cross-project liquidity among related personnel is poor in the PP. [29] Poor communication and cooperation among projects (R15) e cross-project communication and cooperation between managers or technicians are poor in the PP.…”

Section: Identification Of Pprr Factorsmentioning

confidence: 99%

Project Portfolio Resource Risk Assessment considering Project Interdependency by the Fuzzy Bayesian Network

et al. 2020

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Resource risk caused by specific resource sharing or competition among projects due to resource constraints is a major issue in project portfolio management, which challenges the application of risk analysis methods effectively. This paper presents a methodology by using a fuzzy Bayesian network to assess the project portfolio resource risk, determine critical resource risk factors, and propose risk-reduction strategies. In this method, the project portfolio resource risk factors are first identified by taking project interdependency into consideration, and then the Bayesian network model is developed to analyze the risk level of the identified risk factors in which expert judgments and fuzzy set theory are integrated to determine the probabilities of all risk factors to deal with incomplete risk data and information. To reduce the subjectivity of expert judgments, the expert weights are determined by combining experts’ background and reliability degree of expert judgments. A numerical analysis is used to demonstrate the application of the proposed methodology. The results show that project portfolio resource risks can be analyzed effectively and efficiently. Furthermore, “poor communication and cooperation among projects,” “capital difficulty,” and “lack of sharing technology among projects” are considered the leading factors of the project portfolio resource risk. Risk-reduction strategic decisions based on the results of risk assessment can be made, which provide project managers with a useful method or tool to manage project risks.

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“…Uncertainty is a consequence of complexity [19,20]. Ross [21] eloquently explains uncertainty as a reflection of "the inability to estimate a value exactly."…”

Section: Uncertainty In Geothermal Projectsmentioning

confidence: 99%

Developing a Sustainable Financing Model for Geothermal Projects

Dewi

Setiawan

Latief

2020

Proceedings of the 3rd Asia Pacific Conference on Research in Industrial and Systems Engineering 2020

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Shedding New Light on Project Portfolio Risk Management

Cited by 30 publications

References 66 publications

Opportunities and threats presented by social media in project management

Opportunities and threats presented by social media in project management

Project Portfolio Resource Risk Assessment considering Project Interdependency by the Fuzzy Bayesian Network

Developing a Sustainable Financing Model for Geothermal Projects

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