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Project Management during Industry 4.0 Implementation with Risk Factor Analysis

Access to new resource related to Industry 4.0 added to PMWL



Resource provided by Balzhan Khamitova

23 August 2022 – Almaty, Kazakhstan – Access to a new resource has been added to the PM World Library (PMWL) related to Industry 4.0 and project management. The new resource titled Project Management during the Industry 4.0 Implementation with Risk Factor Analysisis an article by Martin Hirman, Andrea Benesova, Frantisek Steiner and Jiri Tupa published in Procedia Manufacturing in 2019.

The authors’ main purpose was to analyze the process of implementation of Industry 4.0 in the various companies. Firstly, the authors described the basic principles of Industry 4.0 and the main implementation stages. Secondly, the paper describes the current state of affairs in the field of Project Management in companies with Industry 4.0. Finally, the third part consists of the implementation process with used methodology.

During the research, the authors used various methodologies such as Interview, Brainstorming and a Semi-quantitative risk assessment method. Firstly, the experts were interviewed by authors about the management strategy, vision, requirements, risks, impacts and probabilities. In brainstorming, a group of experts met to come up with new ideas and solutions (in this case, to identify risks) in a particular area of interest by removing inhibitions. People can think more freely and come up with as many spontaneous new ideas (such as risks) as possible. In the semi-quantitative assessment methodology, risks were identified based on information from experts obtained in the first step. Further in the article, the authors analyzed risks and classified them into groups, such as financial, technical, social, etc.

To access this new resource, go to the Advanced Hot topics in PPM section of the library at scroll down to and  click on “Industry 4.0, Projects &PM in”, scroll down to resource. Must be a registered  member and logged-in to access. If not yet registered, please consider the FREE 30-day Trial Membership.

This new resource provided through the PMWL university research internship program; to learn more, click here