Risk and Uncertainty in Engineering Projects: A Survey of Professionals

Abstract

Engineering projects tend to present numerous uncertainties due to a lack of information or unreliable information, new technologies, project complexity or even unpredictable factors. These uncertainties can affect the project´s success. This paper aims to investigate the level of knowledge and adoption of risk management practices in engineering projects. Moreover, the paper aims to explore the perception of the influence of risk management on project success. The methodological approach was a survey-based study with a sample of 596 respondents. The results indicated that most professionals (61.6%) know of the PMBoK® and try to partially or totally apply it, followed by ISO 31000 (24.7%) and ICB/IPMA (13.6%). Considering the success dimensions, the most frequent consequences associated with risk were delayed schedule, increased cost, damaged client reputation, and decreased quality.