Project Risk Management Based on WBS-RBSOBS and ANP -with the Aerospace Industry as Example

Meng-Hua Li, Jen-Teng Tsai, Chayun Perng and Meng-Hua Li
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Meng-Hua Li: National Formosa University, Yunlin, Taiwan, ROC
Jen-Teng Tsai: Tunghai University, Taichung, Taiwan, ROC.2
Chayun Perng: National Formosa University, Yunlin, Taiwan, ROC
Meng-Hua Li: National Formosa University, Yunlin, Taiwan, ROC

International Journal of Technology and Engineering Studies, 2015, vol. 1, issue 4, 136-142

Abstract: With the rapid development of science, projects have increasingly become complicated. Due to the availability of resources, the changing environment, and other factors, projects have become large and complicated, and corresponding single project management has gradually tended to multi-project management. Optimal time duration, minimum cost, and best quality are the expected results of project management. However, there are many uncertainties and risks under large project management, which usually result in huge losses and social impact. Therefore, project risk management is increasingly important. Previous studies on project risk management only focused on the application of a combined matrix of WBS and RBS, while ignoring that risk decisions and actions are often decided by people and organizations. Aiming at project risk management from three aspects, WBS, OBS, and RBS, this paper solves the problem of traditional risk management control, conducts comprehensive evaluation through ANP, and determines risk weight and ranking in the quantization method, in order to render risk identification more perfectly, and help decision makers to make objective and effective management decisions and distribute resources under the multi-project mode. Finally, this paper presents an application of an actual case of the aerospace industry, analyzes and solves the project risk management problems in order to verify the usability of such a method, and offers follow-up suggestions.

Keywords: Project Risk Management; Work Breakdown Structure; Organization Breakdown Structure; Risk Breakdown Structure; Analytic Network Process (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:apa:ijtess:2015:p:136-142

DOI: 10.20469/ijtes.40005-4

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