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Finding the Links between Risk Management and Project Success: Evidence from International Development Projects in Colombia

Author

Listed:
  • Rocío Rodríguez-Rivero

    (Department of Organization, Business Administration and Statistics, Universidad Politécnica de Madrid, C/José Gutiérrez Abascal 2, 28006 Madrid, Spain)

  • Isabel Ortiz-Marcos

    (Department of Organization, Business Administration and Statistics, Universidad Politécnica de Madrid, C/José Gutiérrez Abascal 2, 28006 Madrid, Spain)

  • Javier Romero

    (Department of Organization, Business Administration and Statistics, Universidad Politécnica de Madrid, C/José Gutiérrez Abascal 2, 28006 Madrid, Spain)

  • Luis Ballesteros-Sánchez

    (Department of Organization, Business Administration and Statistics, Universidad Politécnica de Madrid, C/José Gutiérrez Abascal 2, 28006 Madrid, Spain)

Abstract

The aim of this research is to help improve the effectiveness of international development projects (IDPs) with a focus on enhancing their success. For this purpose, this work seeks to identify links between the management of risks among five projects executed in Cauca (Colombia) and the success of these projects in terms of project management and impacts on the beneficiary communities. An analysis of these projects reveals the most critical risks encountered and the relationships between the management of those risks and the success of the projects. The use of fuzzy logic through the fuzzy-set qualitative comparative analysis (fsQCA) program is key to performing this difficult task. The results of a qualitative study reveal that the most important risks correspond to economic, cultural, and political factors. A quantitative analysis by fsQCA shows a direct relationship between the management of cultural differences and the positive impacts of IDPs on the beneficiary communities.

Suggested Citation

  • Rocío Rodríguez-Rivero & Isabel Ortiz-Marcos & Javier Romero & Luis Ballesteros-Sánchez, 2020. "Finding the Links between Risk Management and Project Success: Evidence from International Development Projects in Colombia," Sustainability, MDPI, vol. 12(21), pages 1-19, November.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:21:p:9294-:d:442123
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    Cited by:

    1. Ali Foroutan Mirhosseini & Kelly Pitera & James Odeck & Morten Welde, 2022. "Sustainable Project Management: Reducing the Risk of Cost Inaccuracy Using a PLS-SEM Approach," Sustainability, MDPI, vol. 14(2), pages 1-20, January.
    2. Guiliang Su & Rana Khallaf, 2022. "Research on the Influence of Risk on Construction Project Performance: A Systematic Review," Sustainability, MDPI, vol. 14(11), pages 1-19, May.

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