Abstract
The paper is concerned with the expansion of the role of risk analysis in project management. A broad definition of risk analysis is adopted that involves appropriate identification, appreciation and management of project risks. The possible roles for risk analysis in project management are examined. Initially, risk analysis can assist in accept/reject decisions and project design, and subsequently in the development of risk-management strategies. Where a project involves contracting parties, risk analysis can help to determine the appropriate allocation of project risks. Reasons why risk analysis may not be as widely used as it should be are identified. A critical discussion of these arguments highlights additional aspects of the use of risk analysis in practice.
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 callDisclaimer: 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.
