Original scientific paper
https://doi.org/10.2478/otmcj-2019-0005
Measuring the performance of project risk management: a preliminary model
Alfredo Federico Serpell
; Facultad de Ingeniería, Universidad del Desarrollo, Santiago, Chile
Ximena Ferrada
; Facultad de Ingeniería, Universidad del Desarrollo
Larissa Rubio
; Depto. Ingeniería y Gestión de la Construcción, Pontificia Universidad Católica de Chile
Abstract
The function of project risk management (PRM)
is to understand the uncertainty that surrounds a project
and to identify the potential threats than can affect it as
well as to know how to handle these risks in an appropriate
way. Then, the measurement of the performance of PRM
becomes an important concern, an issue that has not yet
been addressed in the research literature. It is necessary to
know how successful the application of the PRM process
is and how capable is the process within the organization.
Regarding construction projects, it is essential to know
whether the selected responses to mitigate or eliminate
identified risks were suitable and well implemented after
the execution of the project. This paper presents a critical
analysis of the relevance of measuring the performance of
PRM and the benefits of doing so. Additionally, it presents
a preliminary and pioneering methodology to measure
the performance of PRM through the evaluation of the
adequacy of responses applied to mitigate risks as well as
to evaluate the resulting impacts as indicators of the effectiveness of these actions at the end of the project. This
knowledge will allow construction companies to incorporate good practices, generate lessons learned, and thereby
to promote a continuous improvement of the whole PRM
process
Keywords
performance; measurement; risk management; projects; key performance indicators
Hrčak ID:
228344
URI
Publication date:
1.2.2019.
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