Ranking Indices for Mitigating Project Risks

Stefan Creemers (), Stijn Vonder () and Erik Demeulemeester ()
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Stefan Creemers: IESEG School of Management
Stijn Vonder: KU Leuven
Erik Demeulemeester: KU Leuven

Chapter Chapter 51 in Handbook on Project Management and Scheduling Vol. 2, 2015, pp 1135-1153 from Springer

Abstract: Abstract The goal of project risk management is to mitigate the impact of risks on project objectives such as budget and time. A popular approach to determine where to focus mitigation efforts, is the use of so-called “ranking indices”. Ranking indices produce a ranking of activities (or even better, risks) based on their impact on project objectives. In turn, this ranking can be used to determine the risks that are to be mitigated. Different ranking indices, however, produce different rankings. Therefore, one might wonder which ranking index is best? In this chapter, we provide an answer to this question.

Keywords: Project risk; Ranking indices; Risk analysis; Risk management; Risk mitigation (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1007/978-3-319-05915-0_21

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