Risk management standards for project management

The purpose of this paper is to present and compare the main standards for project risk management that are currently available today. Four international standards recognized world- wide were selected for comparison: PMI, PRINCE2, IPMA, ISO 31000 and IEC 62198. Project management has evolved over recent years into a mature professional discipline characterized by a formalized body of knowledge and the definition of systematic processes for the execution of a project. All these and possibly other factors as well, have resulted in growing numbers of books, articles and conferences being devoted to project risk management. This level of activity has also led to the development of a number of standards that prescribe for and advise organizations on the best way to manage their risks. Every meaningful standard for project management contains project risk management as its important part.Web of Science4613

Risk management standards for P5M

Risk can be managed, minimized, shared, transferred or accepted but it cannot be ignored. An effective and efficient risk management approach requires a proper and systematic methodology and, more importantly, knowledge and experience. Risk management are coordinated activities to direct and control an organization with regard to risk. Based on this definition, project risk management can be derivatively defined as coordinate activities to direct and control a project with regard to risk. In this way, it becomes an integral part of every aspect of managing the project. The goal of this paper is to present and compare the main standards for project risk management that are currently available today. Five international standards recognized world-wide were selected for comparison PMI, PRINCE2, IPMA, ISO 31000 and IEC 62198.Web of Science131341

Design project planning, monitoring and re-planning through process simulation

Effective management of design schedules is a major concern in industry, since timely project delivery can have a significant influence on a company’s profitability. Based on insights gained through a case study of planning practice in aero-engine component design, this paper examines how task network simulation models can be deployed in a new way to support design process planning. Our method shows how simulation can be used to reconcile a description of design activities and information flows with project targets such as milestone delivery dates. It also shows how monitoring and re-planning can be supported using the non-ideal metrics which the case study revealed are used to monitor processes in practice. The approach is presented as a theoretical contribution which requires further work to implement and evaluate in practice

Hard or soft: Planning on medium size construction projects

Some data suggest that the approach to planning in construction seeks to impose a managed future on construction work by providing plans which are strictly time scheduled and produced by initially identifying those activities which are critical to the plan and allowing other activities to “fit in” to this critical path. This is referred to in the paper as “hard” planning. The paper seeks to demonstrate that the reality for some managers and planners is that the planning process is “soft” and that in producing plans they seek initially to take account of the vast uncertainties of construction by removing criticality from all activities. The paper is based on data obtained from longitudinal case study research of four live, medium size, projects in the North East of England. The data analysis uses the Grounded Theory approach

An Assessment of PIER Electric Grid Research 2003-2014 White Paper

This white paper describes the circumstances in California around the turn of the 21st century that led the California Energy Commission (CEC) to direct additional Public Interest Energy Research funds to address critical electric grid issues, especially those arising from integrating high penetrations of variable renewable generation with the electric grid. It contains an assessment of the beneficial science and technology advances of the resultant portfolio of electric grid research projects administered under the direction of the CEC by a competitively selected contractor, the University of California’s California Institute for Energy and the Environment, from 2003-2014

Evaluating Social Innovation

The philanthropic sector has been experimenting with innovative grantmaking in the hopes of triggering significant and sustainable change. FSG's latest research report, collaboratively written with the Center for Evaluation Innovation, challenges grantmakers to explore the use of Developmental Evaluation when evaluating complex, dynamic, and emergent initiatives