Access to new resource related to Resilience and Contingency Planning in Project Management added to PMWL
Resource provided by Ameena Haq
30 July 2024 – Rawalpindi, Pakistan – Access to a new resource has been added to the PM World Library (PMWL) related to Resilience and Contingency Planning in Project Management. The new resource is titled “Resilience to disruptions: a missing piece of contingency planning in projects”, by Seyed Ashkan Zarghami, and published in International Journal of Production Research in 2024.
This study examines the critical role of resilience in effective contingency planning for projects. It argues that traditional methods of estimating time contingencies are insufficient due to their reliance on historical data, which fails to account for unprecedented disruptions, and their inability to accurately assess the impact of low-probability, high-impact events on project resources. The research proposes a resilience-based approach to contingency planning, which involves modeling and measuring resilience to disruptions, focusing on the disruption and recovery profiles of project activities. By incorporating resilience metrics, project managers can better prepare for and respond to unexpected events, ensuring smoother project execution and delivery.
Key findings highlight that resilience can provide a more accurate forecast of time contingencies by considering the specific impact of disruptive events on project resources across various stages. The proposed method was tested in a real-life construction project and compared with traditional methods, demonstrating its effectiveness in providing a precise estimate of time contingencies. The paper emphasizes the importance of adaptive management strategies and stakeholder engagement, offering a novel perspective that integrates resilience into the project management literature and practical approaches for managing disruptions in projects. This approach not only enhances the robustness of project plans but also cultivates a culture of proactive risk management and continuous improvement within project teams. The study's insights are helpful for project managers aiming to mitigate risks and maintain project continuity amidst an increasingly volatile and uncertain environment.
To access this new resource, go to the Advanced / Hot Topics section of the library at https://pmworldlibrary.net/advanced-hot-topics-in-ppm/, click on “topic”, scroll down to resource. Must be registered and logged-in to access. If not already registered, consider the 30-Day FREE Trial at https://pmworldlibrary.net/trial-membership/
This new resource provided through the PMWL university research internship program; to learn more, click here
