Abstract

According to the Organization for Economic Cooperation and Development (OECD) 2013, small and medium-sized businesses (SMBs) in Latin America are responsible for generating 67% of employment; however, their contribution to GDP and to productivity is low due to a lack of capacity of increasing production, becoming specialized, lack of access to funding as well as the lack of efficient management systems that can be applied to projects. Regarding this last issue, studies have shown that it is necessary to improve in the appropriation of practices for project management. The aim of this study is to compare risk management models and suggest their implementation in SMBs since, though some methodologies were found in scientific literature, it states that it cannot be implemented due to high costs, the excessive time required to apply robust methodologies, and the fact that these methodologies are oriented toward megaprojects. The model comparison shows the use of methodologies such as Diffuse Logic, FMEA, Octopus SME (Situational Method Engineering) - Risk Management Approach (OSRiMA), PMI®, MDD (Model Driven Development), RAM (Risk Analysis Method), ERP (Enterprise Resource Planning) and Schmidt Method from Brazil. Quantitative and qualitative variables from each method are explained and it is concluded that there is a lack of specific methodologies for risk management in SMBs, which leads to the challenge of designing models and standards that can be easily applied to these businesses.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.