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Risk analytics for project success

In: Research Handbook on Project Performance

Author

Listed:
  • Ruchita Gupta
  • Karuna Jain
  • Charu Chandra Gupta

Abstract

The current volatile, uncertain, Complex and ambiguous (VUCA) scenario presents challenges for project managers to complete projects at a faster rate, on time, within budget and deliver value to customers. However, addressing the VUCA requires innovation, collaboration and change in mindset which further poses risks in managing projects. The recent survey conducted by PMI in 2018 indicates that 29% of the project failure happens due to the absence of risk identification and its management. This chapter will bring to the readers the structured and predictive analytics approach of managing risks covering the aspects of -Identification, evaluation and assessment and mitigation. The readers will learn data driven models aiding higher quality decision making.

Suggested Citation

  • Ruchita Gupta & Karuna Jain & Charu Chandra Gupta, 2023. "Risk analytics for project success," Chapters, in: Vittal S. Anantatmula & Chakradhar Iyyunni (ed.), Research Handbook on Project Performance, chapter 10, pages 133-157, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21291_10
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