Managing the Sources of Uncertainty in Technology Projects

Abstract

A three-year field study into the management practices and business processes of enterprise risk management (ERM) examines the organizational processes and stakeholder interactions of identifying and managing risks early in the project lifecycle and dealing with these risks in an integrated trans-functional way. The results from this field study show that effective risk management involves a complex set of variables related to task, people, and organizational environment. The study provides insight into the type of organizational environment and managerial leadership conducive to identifying and eliminating potential risks by redesigning organizational processes and the project work, and by dealing effectively with the complex social, technical and economic issues that determine the culture and value system of the enterprise.