For IT project managers, how to implement IT projects successfully is always an important issue due to high failure rate of traditional IT project implementation. When more and more enterprises start to develop systems under the new IT methodology in service oriented IT projects, it is essential to access risks coming with this new IT concept. In this research we aim to identify risk factors related to service oriented IT projects and then analyze the impact and rank of these risk factors. Adapted from the general IT project risk category proposed by Ewusi (1994), we propose 6 risk factors of service-oriented IT projects. The risk framework highlights the properties of business strategy, business Process, and workforce under on-demand business architecture. We use a customer service system to justify our research framework, applying the IBM’s concept of SIMM (service integrated maturity model). A pretest is first conducted with several IT experts who has implemented service oriented IT project experience, followed by a general survey. A binary logistic regression is used to testify the hypotheses. The result shows that essential risk factors that influence the adoption of service oriented system, from the highest to lowest, are insufficient technology planning, lack of expertise, ineffective project governance, and organizational misalignment. The findings help CIOs and project managers realize of the risks and the priority of these risks that have to be noticed and controlled when making decisions on service oriented systems adoption.

During project execution, the status of the project is periodically evaluated, using traditional methods or standard practices. However, these traditional methods or standard practices may not adequately identify certain issues, such as lack of sufficient identification of warning signs that predict potential project failure. Current methods may lack the ability to provide real time indications of emerging problems that impact project outcomes in a timely manner. To address this problem, the Construction Industry Institute (CII) formed a research team to develop a new tool that can forecast the potential risk of not meeting specific project outcomes based on assessing leading indicators. Thus, the leading indicators were identified and then the new tool was developed and validated. A screening process was conducted through industry surveys after identifying potential leading indicators. Each time, industry professionals were asked to evaluate the negative impact of leading indicators on project outcomes that were identified to measure the impact of leading indicators on project health. Through this process, forty-three leading indicators were acquired finally. Using descriptive statistics, the amount of negative impact of each leading indicator on project outcomes was identified after the analysis of the survey results. Based on these impacts, the tool development was initiated. The tool concept is that no indication of problems based on assessing leading indicators results in the tool output score high. To comply with this concept, specific weights were assigned to each leading indicator to reflect the impact on each project outcome. By this procedure, the Project Health Indicator (PHI) tool was developed. The validation process of the PHI tool was conducted using completed projects and finally negative correlation was observed between project outcomes and health scores generated by the PHI tool.

Risk is everywhere and it is something which we face in everyday life. Same is the case with projects. Projects are complex and risks are inherent in projects. It is not unusual for unexpected events to occur and for uncertainty to emerge in projects. These events contribute to project riskswhich require to be dealt with so that projects could continue to run effectively. The need for good project risk management is therefore especially important as it could determine the successof the project or otherwise. However, research on the factors that make project risk response successful has been neglected. Contemporary researchers focused on risk management phases other than risk response. Our main focus in this paper is to indicate determinants of project risk response success and their relative importance in the construction industry of Sweden. The construction industry is considered as construction projects are not only important but they identify tangibly with the physical outputs of projects and exemplify the uncertainty and risks that are present in this type of projects. Sweden is chosen as the context of our study owing to the immense contributions of the construction sector towards the country’s growth and GDP. On thebasis of extensive literature review, we have come up with the determinants for project risk response success and developed a proposed conceptual model. A quantitative study is undertaken with the administration of questionnaires. The empirical data is gathered from project managers in the construction industry of Sweden for this purpose. Project managers are selected as respondents as they would be the ones controlling and managing projects, along with responding to the various risks subjected to in projects. Hypotheses have been generated for this research and the results are analyzed to determine if these hypotheses are to be accepted or rejected. For data analysis, SPSS is used. The results are drawn by the use of statistical tools like ANOVA, correlation and t-tests. These outcomes will lead to the conclusion of our study as to what the factors are that determine project risk response success and their relative importance. A revised conceptual model is finally developed to address the findings of our research. This research found a set of seven success factors which can be used as a guideline for project risk response success. These factors are (1) Team competency and skills, (2) Effective communication, (3) Active leadership, (4) Negotiation and coordination, (5)Hierarchical structure, (6) Behaviour and (7) Empowerment. These determinants of project risk response success can be generalized to the construction industry in Sweden. Keywords: project risk, project risk management, uncertainty, unexpected events, risk response, construction industry.

This research studies the six strategies of Project Risk Management defined by a Guide to Project Management Body of Knowledge (PMBOK) issued by U.S. Project Management Institute (PMI), the model of risk management invented by Boehm in 1991, and an enterprise architecture tool. As a result, this research comes out Architecture-Oriented Project Risk Management Model, abbreviated as AOPRMM, which emphasizes structure behavior coalescence within an organization. AOPRMM thoroughly describe the organization¡¦s integrity and the services provided by various structure elements. Moreover, AOPRMM is able to demonstrate the relationship of interaction among structure elements. Currently, most risk management models are categorized into the process-oriented approach. This research utilizes architecture-oriented as a new approach for modeling the project risk management. The model used in our approach is compared with those such as standard model of ISO 31000, standard model of New Zealand, and standard model of Taiwanese government. The result of this research shows that AOPRMM could help project managers master the whole project in a short period of time, implement the project easily, and lower the cost. By applying AOPRMM, the industries could regulate standard operations, and clarify the responsibility and authority in order to implement the project risk management successfully. This research achieves a beneficial model and knowledge for the project risk management. This accomplishment may be valuable for the business and academic circles to follow and refer.

The worldwide aerospace industry is often characterised by major delays in development and delivery of large aircraft programmes. Suppliers often suffer financial losses and reputational damage as a result of underestimating project risks. This research investigates the quality of project risk management within one of the players in the South African avionics industry, Saab Grintek Defence (SGD). The research investigates the knowledge level, application of risk management principles and behaviour of project teams within SGD. The research study concluded that the quality of project risk management within SGD is of an average standard. The main contributor to project risks in SGD is time risk, followed by human resource risk. / Business Management / M.Com. (Business Management)

<p><strong>This thesis presents a generic framework for project managers and/or other stakeholders to assist them in qualitatively assessing and evaluating project risks. The main structure of this framework is constructed based on risk management area in PMBOK (Project Management Body of Knowledge) standard. Additionally, different best practices and methods in the field of risk management and decision making are studied and embedded in the framework. In spite of being theoretical in nature, the framework can contribute to the project risk management area developed by PMBOK, opening the possibility of further research for its verification.</strong></p>

Increased competition, rapidly changing technology and customer expectations have caused the innovation process to become more complex and uncertain. This study examines the possible benefits of integrating some of the concepts of risk management into the innovation project. However, adopting rigorous risk management at every stage of the innovation process could be costly: some risk management could be valuable, but too much, or inappropriate risk management might stifle innovation. There are many separate models for innovation and risk management. This study develops a combined theoretical model which aims to help the understanding of appropriate risk management in innovation. The theoretical model is based on the classic innovation process but emphasises critical decision points and information needs at various stages, with various possible contributions from risk management. The stage-gate innovation process model, with its emphasis on decisions, provides a basis for incorporating risk management with decisions related to criteria and information needs; this stage-gate model was employed in the study as the core of a theoretical model combining innovation and risk management. The theoretical model was tested in a series of empirical case studies in the United Kingdom and Iran. These involved 40 detailed interviews in five medium-large companies from a variety of industries. The case studies suggest that the combined model of risk and innovation management should be relevant across diverse industries: staff from different countries (UK and Iran), industries and functional backgrounds could all relate to it and the theoretical model provided a useful structure for developing a more detailed understanding of the possible roles and implementation of risk management in innovation. The study suggests that there is no simple guidance that companies can apply in all situations. The choice of risk management techniques varies with different innovation projects, the characteristics of the particular industry and the environment. In addition, different aspects of the risk management system are useful in different stages of the innovation project and attempting to apply a standard technique throughout the innovation project could lead to failure. A prime example is in the creativity stage: simple risk identification at this stage may be useful but more rigorous risk analysis may be stifle creativity. More rigorous risk analysis may be more appropriate in the later stages of the innovation process. Companies can use this theoretical model to help people appreciate the possible contribution of risk management at the different stages of the innovation project.

Consulting Engineers worldwide, and in South Africa, render a professional service to clients consisting of project feasibility studies, planning reports, design, documentation and construction monitoring for infrastructure projects. In rendering this service, consulting engineers are subject to certain project risks that can have a huge influence on their company’s success and hence their profitability. Quality Management is an instrument through which the risks associated with consulting engineering can be mitigated to a certain degree, if a Quality Management System (QMS) is successfully introduced and continuously managed. The QMS must conform to the requirements of a recognized system like the International Organization for Standardization (ISO), and in this particular case ISO 9001, which is a model for quality assurance systems in design, development, production, installation and servicing. The quality system requirements of ISO 9001 are aimed at preventing nonconformity at all phases of the product life cycle from design and/or development to servicing. The study was carried out by obtaining a convenience sample of qualitative questionnaires among professional civil engineers in consulting management positions, testing their experience of a QMS. This study has indicated that a QMS can only be successful in a company if the users have a positive attitude towards the system, and if they believe in the benefits thereof. It is therefore required that the system be launched and maintained in a user-friendly manner, with the emphasis on real risk-reducing aspects. As one of the requirements of ISO 9001 is continuous improvement of the system, recommendations are made in this study towards improving the QMS of the particular company. The influence of a QMS on the frequency and extent of Professional Indemnity cases against a company was investigated and reported on by studying 20 case studies of projects that have experienced difficulties, and have resulted in lawsuits against the consulting engineer. / Thesis (MBA)--North-West University, Potchefstroom Campus, 2013

Consulting Engineers worldwide, and in South Africa, render a professional service to clients consisting of project feasibility studies, planning reports, design, documentation and construction monitoring for infrastructure projects. In rendering this service, consulting engineers are subject to certain project risks that can have a huge influence on their company’s success and hence their profitability. Quality Management is an instrument through which the risks associated with consulting engineering can be mitigated to a certain degree, if a Quality Management System (QMS) is successfully introduced and continuously managed. The QMS must conform to the requirements of a recognized system like the International Organization for Standardization (ISO), and in this particular case ISO 9001, which is a model for quality assurance systems in design, development, production, installation and servicing. The quality system requirements of ISO 9001 are aimed at preventing nonconformity at all phases of the product life cycle from design and/or development to servicing. The study was carried out by obtaining a convenience sample of qualitative questionnaires among professional civil engineers in consulting management positions, testing their experience of a QMS. This study has indicated that a QMS can only be successful in a company if the users have a positive attitude towards the system, and if they believe in the benefits thereof. It is therefore required that the system be launched and maintained in a user-friendly manner, with the emphasis on real risk-reducing aspects. As one of the requirements of ISO 9001 is continuous improvement of the system, recommendations are made in this study towards improving the QMS of the particular company. The influence of a QMS on the frequency and extent of Professional Indemnity cases against a company was investigated and reported on by studying 20 case studies of projects that have experienced difficulties, and have resulted in lawsuits against the consulting engineer. / Thesis (MBA)--North-West University, Potchefstroom Campus, 2013

The worldwide aerospace industry is often characterised by major delays in development and delivery of large aircraft programmes. Suppliers often suffer financial losses and reputational damage as a result of underestimating project risks. This research investigates the quality of project risk management within one of the players in the South African avionics industry, Saab Grintek Defence (SGD). The research investigates the knowledge level, application of risk management principles and behaviour of project teams within SGD. The research study concluded that the quality of project risk management within SGD is of an average standard. The main contributor to project risks in SGD is time risk, followed by human resource risk. / Business Management / M.Com. (Business Management)