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Correct Risk Management-The Key To The Succes Of A Project

Author

Listed:
  • Adrian Eugen, Dinu

    (University of Targoviste)

Abstract

Today, global borders are rapidly diffusing and one cannot operate in isolation. Rapid changes caused by disruptive technologies have also contributed to the risks. The dynamic environment full of uncertainty in the global economy has forced us to look beyond conventional methods to stay in control and prevent risks from negatively impacting projects. We all need to accept that today's business activities are no longer mutually exclusive, but interconnected and interdependent. Above all, the activities and tasks we perform are associated with greater risks than ever before. The work is based on observations and discussions with project managers and other interested parties in the area of public administration that has ongoing investment projects. The paper tries to highlight the risks associated with projects and aims to help the Project Management Team to relate to these factors, generate greater awareness and increase their success rate. To promote a better understanding by correlating with the risks associated with construction projects, the paper is based on the major risks encountered while implementing a project. The basic objective of this work is to help project teams stay focused and initiate timely corrective actions to prevent negative impact on the project.

Suggested Citation

  • Adrian Eugen, Dinu, 2023. "Correct Risk Management-The Key To The Succes Of A Project," Management Strategies Journal, Constantin Brancoveanu University, vol. 60(2), pages 67-72.
    • Handle: RePEc:brc:journl:v:60:y:2023:i:2:p:67-72
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    More about this item

    Keywords

    Risks; project success; stakeholders; owners; contractors; project teams;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • H10 - Public Economics - - Structure and Scope of Government - - - General
    • L38 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Policy

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