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Book Review

Project Risk Management: Comparative Analysis of Methods for Project Risks Assessment

Mira Mileusnić Škrtić ; Institute for Development and International Relations - IRMO, Zagreb, Croatia
Karolina Horvatinčić ; Institute for Development and International Relations - IRMO, Zagreb, Croatia

Fulltext: english, pdf (87 KB) pages 125-134 downloads: 2.253* cite
APA 6th Edition
Mileusnić Škrtić, M. & Horvatinčić, K. (2014). Project Risk Management: Comparative Analysis of Methods for Project Risks Assessment. Collegium antropologicum, 38 Supplement 1 (1), 125-134. Retrieved from https://hrcak.srce.hr/121029
MLA 8th Edition
Mileusnić Škrtić, Mira and Karolina Horvatinčić. "Project Risk Management: Comparative Analysis of Methods for Project Risks Assessment." Collegium antropologicum, vol. 38 Supplement 1, no. 1, 2014, pp. 125-134. https://hrcak.srce.hr/121029. Accessed 2 Apr. 2020.
Chicago 17th Edition
Mileusnić Škrtić, Mira and Karolina Horvatinčić. "Project Risk Management: Comparative Analysis of Methods for Project Risks Assessment." Collegium antropologicum 38 Supplement 1, no. 1 (2014): 125-134. https://hrcak.srce.hr/121029
Harvard
Mileusnić Škrtić, M., and Horvatinčić, K. (2014). 'Project Risk Management: Comparative Analysis of Methods for Project Risks Assessment', Collegium antropologicum, 38 Supplement 1(1), pp. 125-134. Available at: https://hrcak.srce.hr/121029 (Accessed 02 April 2020)
Vancouver
Mileusnić Škrtić M, Horvatinčić K. Project Risk Management: Comparative Analysis of Methods for Project Risks Assessment. Collegium antropologicum [Internet]. 2014 [cited 2020 April 02];38 Supplement 1(1):125-134. Available from: https://hrcak.srce.hr/121029
IEEE
M. Mileusnić Škrtić and K. Horvatinčić, "Project Risk Management: Comparative Analysis of Methods for Project Risks Assessment", Collegium antropologicum, vol.38 Supplement 1, no. 1, pp. 125-134, 2014. [Online]. Available: https://hrcak.srce.hr/121029. [Accessed: 02 April 2020]

Abstracts
Analysis of project risks leads to a deeper understanding of potential problems in the course of the project. A number of techniques and tools are used to that purpose, which can ensure effective assessments both quantitative assessments and measures for every project risk, and qualitative assessment in order to sort project risks according to their rank and category. This article analyzes some of the methods from the aspect of their advantages and disadvantages in application with the aim to facilitate the selection of the most convenient method for the particular project. A comparison was made of the following methods: PERT, Brainstorming, Delphi, Monte Carlo, sensitivity analysis method, probability analysis method, and the Decision Tree. Comparative analysis of methods for the assessment of project risks include those variables that have a major impact on the cost, time, or benefits, on which the project is most sensitive to. It is based on the relation of a particular technique or tools towards the description of the risk, towards all possible outcomes of risk, magnitude or seriousness of outcome, probability of the appearance of the risk event, probability of the possible outcome, time of the risk event and the interaction of the outcome of the risk with other parts of the observed project or of other projects.

Keywords
project risk management; risk assessment; simulation

Hrčak ID: 121029

URI
https://hrcak.srce.hr/121029

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