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An empirical analysis of project risk in a time perspective

Author

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  • Hans Petter Krane
  • Asbjorn Rolstadas
  • Nils O.E. Olsson

Abstract

The risk management (RM) of large projects should be closely linked to the projects' objectives and success factors, although they more often have short-term perspectives. This article explores these RM aspects with reference to a study of risk registers in seven large projects. As part of a longitudinal study, all of the projects' risk elements were categorised, both as strategic/operational and threat/opportunity, and analysed against other factors. This revealed, among other findings, that the projects mainly focused on threats and operational risks, and this increased towards the end of the construction phase. Based on the findings, the article raises a number of questions. For instance, when identified strategic risks are few this prompts questions of whether strategic RM has been done but has left few tracks in risk registers. In such cases, do risk registers represent just parts of a project's risk management? Overall, the projects identified rather few opportunities and this raises the question: Are opportunities there, but not utilised, or do they not exist?

Suggested Citation

  • Hans Petter Krane & Asbjorn Rolstadas & Nils O.E. Olsson, 2011. "An empirical analysis of project risk in a time perspective," International Journal of Project Organisation and Management, Inderscience Enterprises Ltd, vol. 3(1), pages 36-56.
    • Handle: RePEc:ids:ijpoma:v:3:y:2011:i:1:p:36-56
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    Cited by:

    1. Agnar Johansen & Petter Eik-Andresen & Andreas Dypvik Landmark & Anandasivakumar Ekambaram & Asbjørn Rolstadås, 2016. "Value of Uncertainty: The Lost Opportunities in Large Projects," Administrative Sciences, MDPI, vol. 6(3), pages 1-17, August.

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