A Conceptual Model of the Relationship between Risk Management Maturity and Organizational Learning

Abstract

Construction projects in Malaysia involved prevailing risks that impact the performance of project embodies management triangle (i.e. time, cost & quality). A mature risk management approach would be appropriate to overcome these risks. The organizational maturity attempts, in its main goal, to gain higher performance in different project management aspects including project risk management. Organizational Project Management Maturity Model (OPM3) is a maturity model introduced by Project Management Institute (PMI), which proposes continues improvement including all project management nine areas. The correlation between risk management and organizational learning has been highlighted by various researchers. However, the relationship between the two approaches and OPM3 have not determined yet. Furthermore, literature has not introduced any learning practices useful in order to enhance organizational project risk management. Considering the present literature on the subject, this paper attempts to advance a theoretical model of the correlation between organizational learning practices and project risk management maturity. Three moderating factors are also presented and discussed in the model, namely: Employees' Experience Level, Organization Size, and Technological Turbulence.