Access to new resource related to project risk management added to PMWL
Resource provided by Victor Dantas
27 September 2022 – São Paulo, Brazil – Access to a new resource has been added to the PM World Library (PMWL) related to project risk management. The new resource is titled “How do risk management practices lead to project success in the construction industry? The mediated moderation of risk coping capacity and risk transparency”, by Muhammad Asif Kallow, Ali Ahmad Bodla, Ahsan Ejaz & Miss Rabeea Ishaq. It was published in the International Journal of Construction Management in July 2022.
The article provides a contribution on how risk management practices influence construction projects’ success. The Pakistani authors carried a survey questionnaire to collect data from 500 companies registered with Pakistan Engineering Council. They raised some hypotheses, the most relevant were: risk coping capacity mediates the relationship between risk identification, risk monitoring and risk prevention; and risk transparency moderates the relationship between risk coping capacity and project success.
Risk coping capacity refers to firms’ capacity (for such context, it means ‘strategies and resources’) to manage risk and adverse circumstances. In addition, risk transparency relates to a degree in which transparent information is made available to construction project stakeholders making decisions. According to the research, risk transparency and coping capacity are two significant parts of a project risk management mechanism.
To summarize, the research found evidence suggesting that risk identification, monitoring and prevention practices contribute to business success. Also there is indication that a high level of risk transparency amplifies the effect of risk management practices on project success.
To access this new resource, go to the SLIGHTLY MORE ADVANCED TOPICS IN P/PM section of the library at https://pmworldlibrary.net/applications-and-topics/, click on “Success Factors in Project Management”, scroll down to resource. Must be a registered member and logged-in to access.
This new resource provided through the PMWL university research internship program; to learn more, click here
