Empirical studies have been carried out by researchers around the world to see practices of project risk management (PRM). Having examined 7 empirical studies + 2 relevant articles from well respected authors, I have summarized the results.
Despite differences on methodologies, domains, and countries, similar patterns can be seen, including:
1. There is a significant gap between ‘practice’ and ‘theory’ in PRM.
The ‘most advanced’, frequently used technique which was reported in studies is the simplest form of Monte Carlo – which was theoretically developed some 30 years ago.
2. PRM practices is lagging behind those in other domains such as: reliability and safety.
Some interesting questions may then arise:
(a) In addition to those have been highlighted in the paper, what are other possible factors preventing PRM advancement?
(b) Do the conditions stated in the paper reflect practices in Indonesia?
Any opinion? Feel free to leave your message
The summary can be downloaded here
Updated: up to today (8 April), this page has been read more than 100 times. No comments or feedbacks for such interesting findings? 🙂