Risk Assessment to improve the performance of Projects

Abstract

The research, focal point on a wide-ranging investigation of the processes associated with identifying, assessing, and managing threats associated with various projects. The main objective is to enhance the performance by efficiently identifying and mitigating the potential hazards that may arise during the lifecycle of the project. While using a quantitative approach for this, the study includes surveying and interviewing a total of 50 project managers and team members to collect primary data. The collected data is subjected to statistical analysis and thematic investigation to discover patterns, trends, and correlations between risk assessment practices and project performance indicators. The research results offer valuable insights into the existing utilization of risk assessment methodologies in project management and their effect on project success. The analysis evaluates the effectiveness of various risk assessment strategies and techniques, encompassing both qualitative and quantitative methods. Additionally, the study explores organizational factors influencing the implementation and outcomes of risk assessment processes.