Business & IT · Vol. XIV(2) · 2024
Understanding the Impact of Project Risk Management on Project Performance: A Technical and Empirical Perspective
Abstract
This research explores the role of project risk management (PRM) in influencing project performance. Specifically, it investigates the adoption and diffusion of risk management practices across Brazilian industries. The study employed a survey methodology, analyzing 415 projects of varying complexity from different industrial sectors and states in Brazil. The findings indicate a significant positive correlation between the implementation of risk management practices and project success. Furthermore, the presence of a dedicated risk manager enhances this success. Methodological limitations include reliance on non-probability sampling and perception-based data collection via questionnaires. From a practical perspective, the results underscore the importance of addressing uncertainties, employing systematic risk management techniques, and cultivating a profound understanding of business environments. These factors emerge as critical success elements, necessitating the active engagement of both project and risk managers. The findings also highlight the importance of soft skills in effective risk management.
Keywords
Project risk management, project complexity, innovation management, uncertainty, risk manager, Brazilian industries
Full text
How to cite (APA)
Antoine Chevalier-Karfis (2024). Understanding the Impact of Project Risk Management on Project Performance: A Technical and Empirical Perspective. Business & IT, Vol. XIV(2), pp. 33–40. https://doi.org/10.14311/bit.2024.02.04