An empirical analysis of project risk in a time perspective
by Hans Petter Krane, Asbjorn Rolstadas, Nils O.E. Olsson
International Journal of Project Organisation and Management (IJPOM), Vol. 3, No. 1, 2011

Abstract: The risk management (RM) of large projects should be closely linked to the projects' objectives and success factors, although they more often have short-term perspectives. This article explores these RM aspects with reference to a study of risk registers in seven large projects. As part of a longitudinal study, all of the projects' risk elements were categorised, both as strategic/operational and threat/opportunity, and analysed against other factors. This revealed, among other findings, that the projects mainly focused on threats and operational risks, and this increased towards the end of the construction phase. Based on the findings, the article raises a number of questions. For instance, when identified strategic risks are few this prompts questions of whether strategic RM has been done but has left few tracks in risk registers. In such cases, do risk registers represent just parts of a project's risk management? Overall, the projects identified rather few opportunities and this raises the question: Are opportunities there, but not utilised, or do they not exist?

Online publication date: Wed, 14-Jan-2015

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