Understanding the Impact of Project Risk Management on Project Performance: an Empirical Study
show, in terms of management, quality and risk a permanent correlation, The term "risk" was introduced in ISO in when it was suggested in relation to the . "The activities within a process / project are accompanied by risk and. Managing risk has always been a part of quality but now leading companies are Hopefully the tight relationship there between Quality and. A holistic approach to quality management and risk management can lead to lower cost of quality, risk reduction and overall quality improvement.
The areas where RM can learn from QM is identified to be the following three 1 Being able to differentiate between which risks can be handled with a statistical approach and which cannot 2 To focus on key processes and 3 Implementation of both organisational and cultural changes.
Risk management and project management go hand in hand
The section also address how QM can learn to prioritise their work through a risk analyses and identification of likelihood and consequence of risk. By having a risk based approach to QM the allocation of recourses can be optimised. The method chapter set the structure of the data collection of this thesis.
Based on a review of governing documents and relevant literature, informal and formal interviews, personal experiences and observations?
The following chapter is a study of Statoil? The focus is on establishing an understanding of what is expected deliverables from the QRM manager to the project development process in Statoil. In addition the different phases of the project development process is examined. The chapter have a focus on deliverables according to the RM discipline and the QM discipline. The deliverables to the QM discipline is put into the quality cycle consisting of quality planning, quality assurance, quality control and quality improvement.
Statoil operations are global, consequently the level of uncertainty is bigger compared to having operations in only one nation.
Risk management and project management go hand in hand - CIO
There is a growing focus on risk management in industry, a trend that Statoil also have noticed. The requirement of risk analysis from top management justifies the need for a QRM manager in projects. The strengths of the existing QRM model is identified as it is presented in the list below.
Courageous QRM managers will challenge the system into continuous improvement? Good organisation of resources based on risk analysis?
Being a generalist is an advantage in facilitating risk workshops? The QRM managers poses the ability to communicate with different levels of the organisation?
Good system understanding through being auditor certified? Facilitation of risk workshops and use of risk analysis? Take advantage of the relationship between risk- and quality management? The role is integrated into several levels of the organisation?
Do you review the risks of previous projects, and look to lessons from the past as part of your initial review and identification process? Do you strive to ensure each risk has an owner, and that the method to tackle them is agreed upon, i. Do you readily assess opportunities as well as negative risks, and devise strategies to maximise the likelihood of opportunities occurring in order to exploit or enhance them?
As well as qualitative assessment of risks, are you able to apply a quantitative financial or time value to each risk, both negative and positive, should it eventuate? If the impact is negative, will it turn into an issue?
Are you pro-active in tracking the agreed strategies to handle risks? Do you maintain a project Risks Register on a regular basis — moving priorities up and down the list, watching for low-priority risks that may escalate in importance, being attentive to risks that are likely to occur soon? Done well, it helps you ensure that the 'appetite for risk' is appropriately understood at the start; that all risks are agreed upon, prioritised, assessed, communicated and understood in alignment with this 'risk appetite'; and that you have a solid platform to track agreed actions, including escalation up the management chain if necessary.
Linking Quality Management and Risk Management | Quality Digest
The key is to demonstrate positive behaviours in a way that ensures risk management is kept at the forefront of all your project activities. There is always the potential of 'unknown unknowns' impacting your project, but the more you can assess reasonable risks from the start of the project and actively manage them throughout, the better placed you will be as a team to realise a positive outcome for your project.
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