{"title":"Standard Project Risk Analysis Approach","authors":"Tena Žužek, L. Rihar, T. Berlec, J. Kušar","doi":"10.2478/bsrj-2020-0021","DOIUrl":null,"url":null,"abstract":"Abstract Background: To stay competitive in a highly unpredictable market of today, companies must be able to manage project risks effectively. The basis for an effective risk management is a thorough risk analysis. Despite the availability of many different risk analysis approaches, companies can be reluctant to use them, since the models are usually complex and very time consuming. Objectives: The main objective is to present a simple, yet effective risk analysis approach that can also serve as a useful basis for resolving project risks. Methods/Approach: The proposed standard risk analysis approach is based on a standard risk model that deals with risk events and impacts separately and therefore allows for a separate planning of preventive and corrective measures. To classify risks and to represent them graphically, a risk map is used. Results: The use of the proposed approach is illustrated on a die-cast tool development project. The approach proved to be very simple to use and it served as a useful basis for resolving the identified risks. Conclusions: The main advantage of the proposed approach is its simplicity and clarity. It can also be used as a quick decision-making tool in a subsequent risk resolving process.","PeriodicalId":43772,"journal":{"name":"Business Systems Research Journal","volume":null,"pages":null},"PeriodicalIF":1.2000,"publicationDate":"2020-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Business Systems Research Journal","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2478/bsrj-2020-0021","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 1
Abstract
Abstract Background: To stay competitive in a highly unpredictable market of today, companies must be able to manage project risks effectively. The basis for an effective risk management is a thorough risk analysis. Despite the availability of many different risk analysis approaches, companies can be reluctant to use them, since the models are usually complex and very time consuming. Objectives: The main objective is to present a simple, yet effective risk analysis approach that can also serve as a useful basis for resolving project risks. Methods/Approach: The proposed standard risk analysis approach is based on a standard risk model that deals with risk events and impacts separately and therefore allows for a separate planning of preventive and corrective measures. To classify risks and to represent them graphically, a risk map is used. Results: The use of the proposed approach is illustrated on a die-cast tool development project. The approach proved to be very simple to use and it served as a useful basis for resolving the identified risks. Conclusions: The main advantage of the proposed approach is its simplicity and clarity. It can also be used as a quick decision-making tool in a subsequent risk resolving process.