Risk analytics for project success

Ruchita Gupta, Karuna Jain and Charu Chandra Gupta

Chapter 10 in Research Handbook on Project Performance, 2023, pp 133-157 from Edward Elgar Publishing

Abstract: The current volatile, uncertain, Complex and ambiguous (VUCA) scenario presents challenges for project managers to complete projects at a faster rate, on time, within budget and deliver value to customers. However, addressing the VUCA requires innovation, collaboration and change in mindset which further poses risks in managing projects. The recent survey conducted by PMI in 2018 indicates that 29% of the project failure happens due to the absence of risk identification and its management. This chapter will bring to the readers the structured and predictive analytics approach of managing risks covering the aspects of -Identification, evaluation and assessment and mitigation. The readers will learn data driven models aiding higher quality decision making.

Keywords: Business and Management; Economics and Finance; Geography; Innovations and Technology; Urban and Regional Studies (search for similar items in EconPapers)
Date: 2023
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