Towards Program Risk Management and Perceived Risk Management Barriers

Abstract

This paper seeks to investigate the concepts of risk management and its implications for program management discipline. It highlights the distinctions of programs over projects and discusses why programs are more risky. Further, based on relevant descriptions and findings from respective literatures, we report a number of perceived barriers en route for risk management implementation on ground; we also discuss the reasons and rationales behind such infirmities. Dominant factors causingunderprivileged risk management are classified into four prime categories: resource constraints, contextual restrictions, learning imperfections and human limitations. An empirical survey-based study conducted from Pakistan telecom professionals discovers that monetary constraints, schedule compels, unstable organizational environment, lack of executive’s commitment towards risk, and deficit of risk-aware culture are the topmost barriers that impede the implementation of risk management in large-scale telecom programs in the country. The concepts defined in the early parts of this study will enable the practitioners to understand the program risk management subject in enhanced ways, while the findings delineatedlater can equip the relevant stakeholders with better learning of affairs prevalent in Pakistan telecom industry; this may also aid policy makers in instigating corrective actions.