Picture of neon light reading 'Open'

Discover open research at Strathprints as part of International Open Access Week!

23-29 October 2017 is International Open Access Week. The Strathprints institutional repository is a digital archive of Open Access research outputs, all produced by University of Strathclyde researchers.

Explore recent world leading Open Access research content this Open Access Week from across Strathclyde's many research active faculties: Engineering, Science, Humanities, Arts & Social Sciences and Strathclyde Business School.

Explore all Strathclyde Open Access research outputs...

Strathprints

Systemic risk assessment : a case study

Ackermann, F. and Eden, C. and Williams, T.M. and Howick, S.M. (2007) Systemic risk assessment : a case study. Journal of the Operational Research Society, 58 (1). pp. 39-51. ISSN 0160-5682

Full text not available in this repository. Request a copy from the Strathclyde author

Abstract

Project Risk Registers have been used extensively for many years. However, they do not account for the interaction between risks, for example, the occurrence of one risk exacerbating other risks or portfolios of risks being more significant than the sum of the individual risks. This leads to the need to consider 'risk systemicity' as a part of risk analysis. This paper reports on a specific case for a large multinational project based organization, one that the authors had been involved with in the analysis of a number of projects that had massive cost overruns. Following these analyses the organization was persuaded of the importance of risk systemicity. The organization therefore engaged the authors to develop a 'Risk Filter'. This filter is a tool for identifying areas of risk exposure on future projects and creating a framework for their investigation. The 'Risk Filter' is now used on all projects ever since its introduction; by the end of May 2003 it had been used by nine divisions, on over 60 major projects, and completed by 450 respondents. It is also used at several stages during the life of a project to aid in the risk assessment and management of each project, and contributes to a project database.

Item type: Article
ID code: 4351
Keywords: causal mapping, project risk, risk management, management theory, Risk Management, Statistics, Management Information Systems, Strategy and Management, Management Science and Operations Research, Marketing
Subjects: Social Sciences > Industries. Land use. Labor > Risk Management
Social Sciences > Statistics
Department: Strathclyde Business School > Management Science
Strathclyde Business School > Strategy and Organisation
Depositing user: Strathprints Administrator
Date deposited: 22 Oct 2007
Last modified: 17 Sep 2017 22:58
URI: https://strathprints.strath.ac.uk/id/eprint/4351
Export data:
CORE (COnnecting REpositories)