Organizational and Methodological Influence of Risk Management in Projects

Abstract

Project risk management is essential to managers’ decision making and business success, because it allows the manager to identify, analyse  and  decide  on the most appropriate way to respond to different adversities that may arise during the development of new products, services, processes, projects, continuous improvement, etc. This requires a mind-set that risks have a major influence on the bottom line and use analytical methods or risk management software. It is essential to integrate the entire organizational structure into risk mitigation intervention. The purpose of this paper is to address some of the important topics to consider for well implemented and successful risk management. An approach is taken at both organizational and methodological levels. Keywords: Risk management, PMBOK, Stakeholders, Methods, New product development