Risk management in a project environment

Abstract

The work done in this study is based on three dimensions; theory, research and practices. The objectives of this study are: Firstly, to determine what the literature says about strategic, project and risk management; Secondly, to establish if project managers use project risk management systems; to determine the maturity level of organizations in terms of risk management in capital projects; and to recommend a model for the improvement of the maturity level of organizations in terms of project management in general and risk management in particular when they implement their goals through projects; Thirdly, to give practical risk studies that can be used as examples by project teams in future. On the achievement of these objectives the following is applicable: The literature review on strategic, project and risk management, was achieved because a comprehensive review on these three subjects was undertaken as can be read in chapters three, four and five; Project managers' use of project risk management systems, and the maturity level of organizations in terms of risk management in capital projects, was researched and is given in chapters six and seven; The research recommendation can be read in chapter seven. Practical risk studies are explained in chapter eight.