Some Thoughts on the risks involved in writing a master thesis
December 27, 2017
Upon embarking on the adventure of writing their master thesis, most students feel somewhat apprehensive and insecure. And justifiably so; they are, after all, expected to produce their “masterpiece”, a unique challenge to which, per definition, they have never had to respond before. But writing a master thesis is not only an adventure, it also is an investment.
The very first challenge is to identify a suitable subject. A major factor of success in writing a thesis is the student’s commitment. It should find its source in a practical or professional necessity or a personal urge to confront the research question. The apprentice’s enthusiasm for the topic of the thesis should be shared by the supervisor.
Especially daunting is the start of the journey. Many candidates are overwhelmed by the procedural instructions and formal requirements of academic writing. In my experience, students are, however, confronted with two additional fundamental sources of confusion concerning what ultimate success means in thesis writing. The first is the uncertainty about their understanding of the evaluation criteria that will be applied to their work. The second, relates to the insecurity concerning the risks they will encounter along the journey.
In this article I shall focus on this last issue and comment on three types of risk every author of a thesis will inevitably encounter: scope creep, misallocation of resources, and prioritisation issues.
Scope Creep
Initiating the work by defining the scope, the research question and the objectives of the thesis are challenging to both patience and intelligence because it is an iterative activity. The continuous revision of the work already undertaken in function of newly acquired information and the ensuing reorganisation of the work left to be done, can be very frustrating at times. But this scoping phase, which is preparatory to any redaction, is the most crucial to successfully control the most dangerous hazard in thesis writing.
Scope creep comes into play when the scope of the thesis is significantly extended beyond its initial limits during redaction. Adapting the scope during the writing of the thesis is unavoidable, but one of the major reasons for failure is modifying the scope to such an extent that the initial version is gradually replaced by another one.
The principal mitigation of this risk depends on the student’s aptitude to refrain from any actual writing before the general plan of the thesis has been agreed upon with the supervisor.
Misallocation of Resources
Writing a thesis requires the investment of a wide range of resources which most students are unaware of. Evidently, the essential resources involved are the student’s own time and money. However, few students consider the fact that the supervisor’s brain time, the use of the university’s infrastructure, research facilities and administration are limited supplies. The risk faced here by the student is to run out of research resources, or even worse, out of the supervisor’s allocated time budget.
The best way of mitigating this risk is to plan the use of the facilities efficiently. Interactions with the academic staff and with the supervisor in particular should be relevant and carefully prepared.
Prioritisation Issues
Conceptualising the tasks that need to be done is one thing, but executing them in the appropriate order is even more important. Everyone has the tendency to do first what one prefers to do. Some people like to read and collect documentation, others prefer writing, experimenting, structuring material, surveying… It is tempting, but often unproductive, to start with what one likes to do most. If the prioritisation of the tasks has not been defined and followed up correctly a lot of work will have to be repeated at later stages.
The supervisor’s role in avoiding these pitfalls is essential. Because students for the most part do not have any previous experience in thesis writing, it is difficult for them to resist starting with what they prefer to do. Frustrating as it may be, it is wise to discuss and to prioritise the tasks in collaboration with the supervisor and to stick to the plan.
Dedicated to my daughter Camille who is currently writing her master thesis By Christophe J. J. de Landtsheer.
1. A dissertation embodying results of original research and especially substantiating a specific view; especially: one written by a candidate for an academic degree.
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What are the common risks of a research project, and how do you solve them?
Common risks, especially for doctoral learners completing a dissertation, include:
Failure to develop a viable and researchable topic
Selection of a topic that is too narrow or broad - leading to too few or too many scholarly sources
Doctoral student belief that mixed-methods research is optimal and; therefore, necessary (a.k.a. “boiling the ocean” mentality)
Inability to collect the required data
The potential for human harm associated with data collection
Hiring someone to do the work for you and thereby unable to defend their research (aside from being unethical and violating academic integrity policy)
Taking too long to complete the doctoral program and having to leave the university before finishing
Spending too much and incurring large student debt - without a corresponding payback/ROI after completion (if completed)
There are different approaches to address “solve” the above, but success still boils down to having a great support system, beginning with your University, Chair/Advisor, Committee, peers, and experienced professors who can help guide them through the process. See my blog titled “ The Doctoral Journey: The Road to Oz “ (subtitle: Lions, Tigers, and Bear - Oh My!)
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Interested in hiring a dissertation coach or editor? Contact Dr. Lonny today at [email protected] , along with a copy of your current dissertation (if acailable) for an initial assessment and quote.
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Dr. Lonny is a senior dissertation coach and chair with many years of experience at multiple online universities, as well as through personal consulting engagements, with over 80 graduated doctoral mentees. Dr. Lonny is qualified to walk you through your doctoral journey once you’ve decided to take the plunge! If interested, please complete the inquiry and/or contact form to let Dr. Lonny know that you would like to speak further about your desire to partner with a professional coach towards doctoral degree completion – or any phase/aspect of the process thereof. Dr. Lonny can be reached directly via email at [email protected] or [email protected] .
Assessing Risk in Dissertation Research
When seeking Institutional Review Board (IRB) approval for your dissertation research, you will need to provide an assessment of the risk your participants may face. Risk refers to the potential for negative outcomes that participants may experience as a result of being in your study. It is your obligation as a researcher to minimize participants’ risk as much as possible. As a part of their approval decision, the IRB weighs the risks of the study against the potential benefits of the study. So, if the potential benefits of your study do not outweigh the risks, your study may not get approved. Here, we discuss some issues to consider when assessing risk in your study.
First, it is important to note that ALL studies involve risk. Many students mistakenly state in their proposals and IRB applications that their study involves no risk. Even if you are doing something simple and seemingly harmless, such as a survey, there will still be some degree of risk involved in the study. For instance, if your survey covers a sensitive topic, your participants may experience psychological stress or anxiety. If you are collecting any personal information (such as names or e-mail addresses), there is a possibility that participants’ personal information could be exposed. When people think about risk, they may be inclined to only consider risk of physical harm. However, when conducting research, many types of risk need to be considered, including risk to physical, psychological, emotional, economic, and social wellbeing.
So, how do you assess the level of risk in your study? Risk often is assessed in relation to the risk inherent to normal daily life. In other words, is the potential for harm greater than what the participants would encounter if they were not in the study and were just carrying on with their lives as usual? If the answer is no, then your study involves only minimal risk. The United States Department of Health and Human Services specifically considers research as having minimal risk when “the probability and magnitude of harm or discomfort anticipated in the research are not greater in and of themselves than those ordinarily encountered in daily life or during the performance of routine physical or psychological examinations or tests” (see hhs.gov). Much dissertation research in the social sciences involves minimal risk. In minimal risk studies, researchers need to take simple, reasonable measures to mitigate risk. This includes fully informing participants about the nature of the research and their rights as participants, as well as putting proper safeguards in place to secure their data and personal information.
If your study involves more than minimal risk, you may need to implement special procedures to mitigate risk. Such procedures will vary depending on the risks specific to the study. For example, if your study involves survey questions that could cause significant psychological distress, you may need to provide psychological counseling resources to your participants. In more extreme cases, you may even need to have personnel present during data collection who are trained to handle incidents of physical harm, discomfort, or psychological distress. While greater-than-minimal-risk studies will receive greater scrutiny from the IRB, such studies can gain approval with proper collaboration between the researcher and the IRB reviewers.
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Dissertations / Theses on the topic 'Risk in projects'
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Dunne, Elena S. "Project risk management| Developing a risk framework for translation projects." Thesis, Kent State University, 2014. http://pqdtopen.proquest.com/#viewpdf?dispub=3618898.
In the current global business environment many endeavors are undertaken as projects. Translation, localization and other language services are no exception and must be viewed and studied as services performed in a projectized environment. If they are not, there will continue to be gaps between the way translation is taught and researched (as an isolated activity) and how it is performed in the business world (as part of projects). The existence of these gaps not only prevents translation practitioners from recognizing and communicating the value of the service that they provide, but also diminishes the value of the training that future translators receive. Lack of understanding of the context in which translation is performed limits the opportunities for mutually beneficial cooperation between translation studies and other disciplines in the academic environment, and between organizations and divisions within a given organization in the business environment.
This study proposes to contribute to the research on translation in project contexts by examining risk management, which is an important area of focus for organizations and professionals in many sectors, but which is largely ignored in the language industry.
This study first provides an overview of the language industry, explores key concepts, such as risk, uncertainty, project management, risk management and maturity model, and explains the role and relevance of risk management in the language industry. It then reviews existing risk management frameworks developed by project management and risk management practitioners, including the framework developed by the Project Management Institute (PMI). Next, a model of risk sources developed specifically for application in translation and localization projects is presented and discussed. The theoretical discussion is followed by a case study in which PMI's project risk management framework is implemented and the proposed model of risk sources is applied in a real-world translation company. The description of the case study methodology is followed by observations of how the study was carried out and by a presentation and analysis of the results of the case study. The dissertation concludes by offering recommendations based on the findings of the case study and by examining possible future avenues of research.
Dunne, Elena S. "Project Risk Management: Developing a Risk Framework for Translation Projects." Kent State University / OhioLINK, 2013. http://rave.ohiolink.edu/etdc/view?acc_num=kent1368700402.
Maunus, Hanna, and Engøy Ann-Magritt Lindemark. "Risk Managements påverkan för utfallet av ERP-projekt." Thesis, Högskolan i Gävle, Akademin för utbildning och ekonomi, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:hig:diva-16052.
Omidvar, Ali. "Classification of risk mitigation strategies in construction projects." Thesis, University of British Columbia, 2008. http://hdl.handle.net/2429/2704.
Kutsch, Elmar. "The effect of risk mediators on project risk management and the project outcome of information technology projects." Thesis, University of Bath, 2005. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.420884.
L, Sousa Rita. "Risk analysis for tunneling projects." Thesis, Massachusetts Institute of Technology, 2010. http://hdl.handle.net/1721.1/58282.
Baker, Scott William. "Risk management in major projects." Thesis, University of Edinburgh, 1997. http://hdl.handle.net/1842/655.
Ma, Shichao, and 马世超. "Stakeholder risk attitudes in safety risk management : exploring the relationship between risk attitude and safety risk management performance." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2015. http://hdl.handle.net/10722/210183.
SILVA, Fabiana Leonel Ambrosio da. "Análise do Impacto do Gerenciamento de Riscos no Sucesso de Projetos: Um Estudo de Caso em uma Organização de Desenvolvimento de Software." Universidade Federal de Pernambuco, 2017. https://repositorio.ufpe.br/handle/123456789/19689.
Saeed, Muhammad, and Mehmood Ziauddin. "A Structured Approach for Evaluating Risk Impacts in IT Projects." Thesis, Mälardalen University, School of Sustainable Development of Society and Technology, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:mdh:diva-782.
Date: 12-June-2008
Authors: Muhammad Saeed – 760721
Västerås – Sweden
Mehmood Ziauddin – 830730
Title: A Structured Approach for Evaluating Risk Impacts in IT Projects
Introduction: Risk is an integral part of any project and it’s more appropriate to say for IT because it is changing with a very fast pace. Different surveys, reports and researches show astonishing statistics about the risks in IT projects. Through proper risk assessment techniques most of the uncertainties can be reduced while initiating, implementing and improving IT projects. Different authors talk about different risks and different strategies to respond to them. It becomes difficult at times to keep in check all the risks. Often risk management is over hyped, and often it’s totally neglected. Their needs to be a balanced approached in risk management.
Problem: How a structured approach will be beneficial for an organization in assessing risk impacts on IT Projects?
Purpose: The aim of this report is to develop and analyze a structured approach which will permit an organization in identifying & categorizing risks and measuring their impact on IT Projects.
Method: Exploratory research approach is used and data collection is done using secondary sources. Our thesis is qualitative research based. Qualitative research is the one which is not relying on statistical data as compared to quantitative research.
Besides our text books and study material, the main source of information was internet databases and university library from where we read different articles, thesis and books. Majority of the material studied was collected from Mälardalen University Library’s online databases like, [email protected]älardalen, Compendex, Emerald and Ebrary. We also consulted some books which we got by inter-library loan from Mälardalen University.
Conclusion: With the help of Remenyi’s approach for categorizing risks and Applegate’s approach of measuring risk impact, we have managed to develop a structured approach and reached a conclusion that proper identification and categorizing of risks can be very beneficial for an organization in numerous ways. This systematic way assists top management, project managers, IT & non IT Personnel is taking preemptive measures for managing risks. The benefits it brings is that it gives an equal understanding within the organization and this structured approach gives an in-depth and clear understanding of the risks associated with IT projects.
Simu, Kajsa. "Risk management in small construction projects /." Luleå : Luleå tekniska universitet/Samhällsbyggnad/Arkitektur och infrastruktur, 2006. http://epubl.ltu.se/1402-1757/2006/57/LTU-LIC-0657-SE.pdf.
Gabriš, Ondrej. "Software Projects Risk Management Support Tool." Master's thesis, Vysoké učení technické v Brně. Fakulta informačních technologií, 2011. http://www.nusl.cz/ntk/nusl-412827.
Odzaly, Edzreena Edza. "Managing software risk in agile projects." Thesis, Queen's University Belfast, 2015. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.696155.
Zhang, Shuangtian. "Risk sharing in joint venture projects." 京都大学 (Kyoto University), 2007. http://hdl.handle.net/2433/136206.
Gueguen, Steven. "Risk assessment of marine energy projects." Thesis, KTH, Kraft- och värmeteknologi, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-183052.
Da, Silva Tiago Ferreira. "Risk identification and project approval: an importance-performance analysis of taxonomy-based risks in Information Technology projects." OpenSIUC, 2010. https://opensiuc.lib.siu.edu/theses/355.
Barber, Richard Information Technology & Electrical Engineering Australian Defence Force Academy UNSW. "An investigation into the role of internally generated risks in complex projects." Awarded by:University of New South Wales - Australian Defence Force Academy, 2008. http://handle.unsw.edu.au/1959.4/38903.
Harthi, Bader Ahmed Al. "Risk management in fast-track projects : a study of UAE construction projects." Thesis, University of Wolverhampton, 2015. http://hdl.handle.net/2436/579553.
Rahman, M. (Mohammad). "Risk management and measurement of risk management performance in complex projects." Master's thesis, University of Oulu, 2018. http://urn.fi/URN:NBN:fi:oulu-201808312690.
Al-Zarrad, Mohammad Ammar. "Materials price risk mitigation in construction projects." Thesis, The University of Alabama, 2014. http://pqdtopen.proquest.com/#viewpdf?dispub=1566147.
Construction materials cost estimation is considered one of the most important tasks in the development of project budget. Using material hedging to mitigate the risk of material price volatility is a new concept for construction companies.
This thesis matched material hedging with the fuel hedging application utilized by airlines. The weather hedging process was used as a precedent for material hedging application in the construction industry. This thesis developed a model to provide a step by step guidance to apply material hedging in the construction industry. Further, this thesis matched its model with the model presented by Macdonald (2013) and provided a lower level of detail to support actual implementation of material hedging.
Future work in this area could be the investigation of material hedging cost to decide if the hedging application is feasible. Also, validity and reliability of the model presented by this thesis should be investigated.
Brown, Robert G. "A risk management process for complex projects." Thesis, This resource online, 1995. http://scholar.lib.vt.edu/theses/available/etd-07212009-040553/.
Muchenga, Isaac. "Political risk management on international construction projects." Master's thesis, University of Cape Town, 2016. http://hdl.handle.net/11427/20676.
Wang, Xinyu. "Risk management of PPP projects in China." Thesis, KTH, Fastigheter och byggande, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-211147.
Choudhury, Siam, and David Almqvist. "Riskhantering i IT-projekt : En kvalitativ studie om arbetsmetoder." Thesis, Södertörn University College, School of Business Studies, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-1803.
Many organizations today work in projects, a method of organizing work to provide a clearer focus on goals and more control of every aspect of the assignment. A project is, simply put, a plan to achieve a specific result. In turn, project management means to use various tools and methods to facilitate and streamline the effort towards achieving the goal with the project.
Risk management is the activity that refers to finding, identifying and quantify different types of risks and take appropriate action towards reducing or eliminating these risks to the extent possible. With increased use of projects as a method of working the demands for managing risks better become stronger. The question that this thesis tried to answer was: “What kind of risks does the IT industry think are linked to their projects and in what way does these companies manage these risks?”
Among the project leaders interviewed, the authors could see a great variation in lines of thought and values regarding the importance of risk management and how risk management should be handled. Some interesting observations were made and certain important areas have been brought into the spotlight.
The authors saw that risk management among the IT companies was handled very differently from each other. The variation can be due to the sizes in projects or due to the size of the companies. What the authors have observed shows that most of the companies have a common attitude towards the importance of risk management and are usually very structured in their work with risk management. The authors believes this to be a sign that risk management in IT projects is being taken more seriously now than before and believe that this trend will continue towards more well planned and well structured risk management in the IT industry.
Idag arbetar många organisationer i projektform, en arbetsmetod som medför tydligare inriktning mot resultat och större kontroll över alla delar av arbetet. Ett projekt är enklast beskrivet som en plan för att uppnå ett specifikt resultat. Projektledning innebär i sin tur att man använder sig utav olika metoder och verktyg för att underlätta och effektivisera arbete mot målet inom projekt.
Riskhantering är den verksamhet som syftar till att lokalisera, identifiera och kvantifiera risker av olika slag samt vidta lämpliga åtgärder för att i möjligaste mån reducera eller eliminera dessa risker. Med den ökande användningen av projekt som arbetsmetod ökar också kravet att hantera risker mot projekt bättre. Frågan som denna uppsats sökte svar på var: "Vad anser företag inom IT-branschen att det finns för risker kopplade till deras projekt och på vilket sätt hanterar företagen dessa risker?"
Semistrukturerade intervjuer genomfördes med representanter från fyra företag inom IT-branschen. De fyra företagen verkar inom olika områden och med detta ville författarna få en mer nyanserad bild av hur riskhantering sköts inom branschen. Löpande kontakt hölls med en representant från Öhrlings Pricewaterhouse Coopers (PwC) avdelning för riskhanteringstjänster (RMS). Denna kontakt fungerade som informationskälla. Urvalsmetoden för denna studie var ett omdömesurval. Författarna har efter egna kriterier valt ut och kontaktat projektledare på IT-företag. Kriterierna var att samtliga respondenter skulle ha ansvar för IT-projekt.
Författarna kunde se att det bland projektledarna varierade mycket i tankesätt och värderingar kring vikten av riskhantering och på vilket sätt riskhantering ska skötas. Vissa intressanta iakttagelser har gjorts och det finns viktiga områden som har kommit fram i ljuset genom denna uppsats.
Författarna kom fram till att riskhanteringen hos IT-företag sker på väldigt olika sätt på de företag som undersöktes. Variationen beror troligen både på storleken på projekten och på företagens storlek. Det författarna har sett visar dock på att företagen för det mesta är ganska strukturerade i sitt arbete kring riskhanteringen. Detta tror författarna tyder på att riskhantering i IT-projekt tas på större allvar nu än tidigare och de tror på en fortsatt trend med välstrukturerad och planerad riskhantering inom IT-branschen.
Thomas, Charles. "The role of project risk management in the success of selected Old Mutual projects." Thesis, Cape Peninsula University of Technology, 2005. http://hdl.handle.net/20.500.11838/997.
Al-Azemi, Khalid. "Risk management for build, operate and transfer projects within Kuwait." Thesis, Loughborough University, 2012. https://dspace.lboro.ac.uk/2134/10979.
Rezvanian, Amirabolfazi. "Risk allocation and mitigation methods for financing cross border projects." Diss., University of Pretoria, 2012. http://hdl.handle.net/2263/22824.
Meng, Liuchun. "Risk Management in M-Commerce projects : A Case Study of M-Commerce project in Trollhättan." Thesis, Högskolan Väst, Avd för informatik, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:hv:diva-4356.
Wong, Michael Men How. "Risk assessment and risk allocation in IS/IT private finance initiative projects." Thesis, University of Bath, 1999. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.301527.
Kalyviotis, Nikolaos. "Risk Management in Major Construction Joint Venture Projects." Thesis, Umeå universitet, Företagsekonomi, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-99976.
Fidan, Gulsah. "A Risk And Vulnerability Ontology For Construction Projects." Master's thesis, METU, 2008. http://etd.lib.metu.edu.tr/upload/12609793/index.pdf.
Eybpoosh, Matineh. "Identification Of Risk Paths In International Construction Projects." Master's thesis, METU, 2010. http://etd.lib.metu.edu.tr/upload/12612315/index.pdf.
Willmer, Gillian. "Development of risk models for engineering construction projects." Thesis, Online version, 1988. http://ethos.bl.uk/OrderDetails.do?did=1&uin=uk.bl.ethos.327826.
Yan, Changjun. "Risk management strategy of construction projects in China." Thesis, University of Bedfordshire, 2006. http://hdl.handle.net/10547/338912.
ALMEIDA, Marcos Antonio Martins de. "Risk management in complex projects using decision theory." Universidade Federal de Pernambuco, 2012. https://repositorio.ufpe.br/handle/123456789/5986.
Li, Bing. "Risk management of construction public private partnership projects." Thesis, Glasgow Caledonian University, 2003. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.270518.
Orozco, Mojica Diego. "Risk profile modeling for large scale projects : case study of a transmission line project." Thesis, University of British Columbia, 2013. http://hdl.handle.net/2429/44280.
Lungu, Able Benson. "Reviewing risk management tools for construction projects and the implementation of project management strategies." Master's thesis, Faculty of Engineering and the Built Environment, 2019. http://hdl.handle.net/11427/31284.
Edwards, Peter John. "A study of risk perceptions and communication in risk management for construction projects." Doctoral thesis, University of Cape Town, 2001. http://hdl.handle.net/11427/5073.
Katkovčin, Martin. "Projektové financovanie na komerčných nehnuteľnostiach." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-81967.
Mohebbi, Amir Hassan, and Ngadhnjim Bislimi. "Project Risk Management : Methodology Development for Engineering, Procurement and Construction Projects - A Case Study in the Oil and Gas Industry." Thesis, Karlstads universitet, Fakulteten för ekonomi, kommunikation och IT, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:kau:diva-29142.
Guo, Wei. "Development of a framework for preliminary risk analysis in transportation projects." Link to electronic thesis, 2004. http://www.wpi.edu/Pubs/ETD/Available/etd-12254-123510/.
Akram, Afzal Muhammad. "Risks in new product development (NPD) projects." Thesis, Cranfield University, 2017. http://dspace.lib.cranfield.ac.uk/handle/1826/12722.
Osipova, Ekaterina. "On enhancing joint risk management throughout a project's lifecycle : Empirical studies of Swedish construction projects." Doctoral thesis, Luleå tekniska universitet, Byggkonstruktion och -produktion, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:ltu:diva-25895.
Crosby, Dave. "Project risk management in smaller software teams." Click here to access this resource online, 2007. http://hdl.handle.net/10292/378.
Motaleb, Omayma Hashim. "Development of a risk response model to handle delays of construction projects in the United Arab Emirates." Thesis, Robert Gordon University, 2014. http://hdl.handle.net/10059/1009.
Cardenas, Davalos Alfonso Daniel, and Chin Hui Wendy Chia. "How is risk assessment performed in international technology projects." Thesis, Umeå University, Umeå School of Business, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-30812.
In today’s ever changing business landscape, technology and innovation projects play a key role in creating competitive advantages for an organisation. However, many such projects are often hampered by under performance, cost overruns and lower than predicted revenue (Morris and Hough, 1987 and Christoffersen et al, 1992). This seems to indicate the lack of risk management in the way we manage projects. On the other hand, it is impossible to have any projects without risks. Thus, it is essential to have effective risk management rather than trying to eliminate risk out of projects. These factors have guided this study to focus on understanding the way risk assessment is performed in international technology projects. It aims to identify the link between risk assessment and project categorization, drawing from the ransaction cost economics (TCE) perspective. A qualitative approach applying semi-structured interviews was conducted with ten interviewees holding different roles in the engineering and technology projects within a multinational company with presence in more than 100 countries around the world. The application of the data display and analysis technique by Miles and Huberman (1984, 1994) enables initial findings to be presented using the “dendogram” method, thereafter, leading to the development of a two-dimensional risk assessment matrix as the final result of this study.
Telin, Steven, and Nebil Esmail. "Managing Remote Projects During a Crisis : Game-development and Manufacturing Projects Response to COVID-19." Thesis, Umeå universitet, Företagsekonomi, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-185058.
Nezafatkhah, Sadaf. "Visualizing risk management data associated with capital expenditure projects." Thesis, University of British Columbia, 2011. http://hdl.handle.net/2429/37663.
Nogueira, de Leon Juan Carlos. "A formal model for risk assessment in software projects." Thesis, Monterey, Calif. : Springfield, Va. : Naval Postgraduate School ; Available from National Technical Information Service, 2000. http://handle.dtic.mil/100.2/ADA382304.
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Thesis Statement For Risk Management
Thesis Statement Risk Management is the process of identifying, analyzing and responding to risk factors throughout the life of a project and in the best interests of its objectives (Stanleigh, 2015). This paper is focused on the trends and methods of managing risks in a project. It also analyzes different ways of mitigating risks in a project and why risk management is important in an information technology (IT) environment. Key words risk management, mitigation, and information technology Overview Introduction Risk management has been one of the major concerns of executives and professionals involved with projects today, especially after the financial crisis that shook the world in 2008.The results of ex-post assessments of project or even verification of lost business opportunities for companies are clear signals that this evidence has become more intense (Junior, 2013). Although risk management can be implemented in practically every type of project, this paper focuses mainly on IT projects. Risk management …show more content…
In this essay, the author
- Explains that risk management is the process of identifying, analyzing and responding to risk factors throughout a project and in the best interests of its objectives.
- Explains risk identification as the fundamental step to detect the uncertain events that can upset the good working order in a project.
- Explains that risk assessment is a necessary step for selection of suitable corrective actions for the identified risk.
- Explains that risk response development refers to the selection and implementation of the optimal corrective strategy for the identified risks.
- Explains that executives in different organizations are aware of risks, but often don't know which risks are real, which can be accepted or mitigated, or what that exposure means to their business.
- Recommends managers estimate the possible impact of one of these extremely risky events and think through their plans in the event an extreme event occurs.
- Opines that a well-defined risk assessment concept should be defined based on project objectives of cost, time, scope and quality.
- Explains that most executives or pms analyze risks based on results of previous risk management events and make decisions off the events. it is not a good decision to totally rely on old events because an external threat can cause major changes in the project.
- Opines that the project manager's responsibility is to manage and communicate risk management not to do it all themselves.
- Explains that a tool is only as effective as the person using it. if the project team is not properly trained to implement contingency plans, risk management efforts will be of no use.
- Explains that risk management is a key construct that influences it projects success, and it is relevant for both academic and practitioners’ communities.
- Explains that risk management is one of the major concerns of executives and professionals involved with projects today, especially after the financial crisis.
- Explains that risk management is the process whereby decisions are made to accept a known or assessed risk or the implementation of action to reduce the consequences of an adverse event.
- Explains that risk response control is the last step in the risk management process, where the system is supervised to measure the efficiency of corrective actions and detect potential risks.
- Explains the three types of risk mitigation strategies that hold unique to business continuity and disaster recovery.
- Explains that early recognition of undesirable events helps in recognizing specific issues before they occur and taking certain measures to control the risk events not to impact any project performance factor.
- Opines that risk management is an inherent component of every it project. they suggest that project managers should consider effective use of risk-management tools and techniques.
Risk mitigation is also the process of controlling actions, which are identified, and selecting the suitable ones to reduce risk according to project objectives (Pa, 2015). Risk mitigation is important in IT organizations in so many ways. According to Ahdieh, Hashemitaba, Ow (2012), mitigation of risk provides a mechanism for managers to handle risk effectively by providing the step wise execution of the risk handling (as cited in Pa, 2015, pg. 49). Some risks, once identified, can readily be eliminated or reduced. However, most risks are much more difficult to mitigate, particularly high-impact, low-probability risks. Therefore, risk mitigation and control need to be long-term efforts by IT project managers throughout the project lifecycle. There are three types of risk mitigation strategies that hold unique to Business Continuity and Disaster
- explanatory
- comparative
- opinionated
- Explains that project risk management combines the art and science of identifying, analyzing, and responding to risk throughout the project lifecycle. crisis management is the team's response when a project’s risks are realized.
- Explains that the three risks that are going to be discussed from the team project will come from three different sources of risks.
- Explains that the first risk is from the project itself. the accuracy of time estimates is a high-risk measurement.
- Explains that the accuracy of time estimates has a high probability the best risk response is to accept the risk.
- Explains cobb's definition of deliverable risks, which are technical problems that can occur when developing a technology-laden media player.
- Explains that the qualitative risk for the deliverables on the media player is a medium risk.
- Explains that the best way to mitigate technical risks is to transfer the risks to the contractor.
- Explains that regulatory issues arise in any problem that deals with electronics, as there is a standard from the underwriters laboratory.
- Explains that the qualitative assessment for the regulatory problems on the three-point scale is high. there are many regulatory issues that need to be dealt with, such as environment, electrical, how the workers are treated.
- Opines that the quantitative risk assessment for regulatory problems can cause the project too easily to exceed the objective of $25 for a ready to be manufactured media player.
- Opines that the best risk response for regulatory problems is reducing the risk by having information on the possible regulations that may arise in the manufacturing of the media player.
- Explains that abc, inc. is considering a new project to develop electronic access to their human resources information. the primary benefit would be more accurate information while reducing the number of human resources personnel.
- Explains that the project manager's first task is to find a project sponsor and keep him and other stakeholders engaged.
- Opines that limiting the scope of the project into realistic deliverables is a positive or negative risk.
- Explains that the new system allows employees to input their own changes, which frees up human resources time. proper requirements and comprehensive user testing before roll out should mitigate the risks.
- Explains that quality is linked with the risks of integration, which is when and how the new system is put into use and its impact (for-seen or not).
- Opines that the final set of risks deal with the acceptance of the new system. a quality product, proper training and incentives will turn a negative acceptance risk into an opportunity
- Explains that each project comes with risks—unknowns that can have positive or negative consequences. identifying risks and strategies to mitigate or take advantage of them allows the project manager time to handle situations that were truly unknowable or make a good deliverable outstanding.
- Describes the security measures for protecting confidential information on the internet and intranets.
- Explains that project risk management teaches one to be aggressive early on in the phases of planning and implementing the tools for a project. stakeholder satisfaction is important to justify the project's success.
- Explains that risk management is an important part of business and project planning processes. it addresses critical issues and concerns before they occur when planning out certain projects.
- Analyzes how kutsch, browning & hall (2014) investigated the gap between risk management prescriptions and actual practice and concluded that project managers tend to focus on familiar and measurable risk, which makes new development projects difficult to execute.
- Explains that enterprise risk management influences the ability and performance of project management risk (prm) by considering the features of the construction industry, its businesses, and projects.
- Explains that thamhain (2013) investigates the dynamics and cascading effects of risk scenarios in complex projects, and the management practices of handling these risks.
- Analyzes how müller (2015) article looks at the key aspects of risk and outlines how different tools can be used to overcome the challenges.
- Concludes that many people find it difficult to understand the concept of identifying risk. different techniques have been outlined to prevent such negative effects occurring within the project.
- Compares the success of the millennium dome in london and the sydney opera house in australia.
- Explains that the sydney opera house faced many risks during the course of the project. the lack of knowledge in terms of requirements and how it should be managed was the biggest setback.
- Opines that the failure of the project was the biggest threat, as it was a multi-million dollar project and the reputation of nsw government was at stake.
- Explains the iron triangle of project management, which consists of time, cost, and quality. the sydney opera house was funded by a dedicated lottery system.
- Concludes that jiang & klein's research supports the conclusion that project success is influenced by:
- Explains that the only way a project can survive and exist is the well-informed consent of all of its stakeholders. the team of stakeholders shape the future success or failure of the project.
- Describes the lessons learned from managing the risks of sydney opera house project.
- Cites newcombe, robert, "from client to project stakeholders": a stakeholder mapping approach. construction management and economics, pp.
- Explains pinto, j. k., p. thorns, and others, project leadership: from theory to practice, newtown square, pennsylvania.
- Explains pmi's guide to the project management body of knowledge.
- Describes ramroth, jr., william g. (2006), project management for design professionals.
- Describes söderlund, jonas, christian berggren, and christian anderson's perspectives on organizational fragmentation.
- Explains that risk management is a major success key of project management in business world. the sydney opera house project is an example of poor risk management.
- Explains the purpose of this research paper is to analyze the management of the overall risk and effective planning to face contingencies in terms of selection and application of strategies for managing a project.
- Explains that there are four main phases of a risk management cycle: risk identification, risk elimination, and risk response.
- Explains that the sydney opera house project was among the worst examples in history due to the lack of initial planning and changes that had to be incorporated right in the middle of the project execution phase.
- Explains that the sydney opera house project fits best into the "partners in design and execution" configuration.
- Concludes that the construction phase of sydney opera house has many risk management issues to mention.
- Opines that the risk management process needs to be flexible, and companies need continuous improvement in identifying new risks that will evolve.
- Explains that it is an effective practice to ensure continuous improvement for companies with mature risk management environment who have invested resources over time.
- Explains that risk management structure/framework is a series of elements and components which provide the platform, organisational arrangement for implementing, developing, monitoring, analysing, reviewing and continouly improving the company's risks.
- Explains that the principle of the context aligns mutually with the organisation’s governance framework, enabling risk thick information to better acknowledge decision-making.
- Explains that risk assurance is a component of context as it provides reception to authority that action processes and controls are in dwelling and effective.
- Explains that the organisation aims to construct a culture where insight, managing and accepting risks are seen as object of everyone's decision making processes.
- Explains that risk in organizations strongly relates to corporate services and primary business processes and procedures that corroborate the organisation’s engagement in the delivery of service objectives.
- Explains that operational risks are the everyday risks associated with the organisation's business area movements. these risks will have material effect on the organization’s ability to sustain its business and operational goals.
- Explains the specific risks involved to a particular project or program, which should be managed with consistency with the legal obligations to be kept in mind.
- Opines that fraud and corruption risk management is an important element of an organisation's structure and framework. the organisation needs to conduct fraud risk assessment on a continuous basis.
- Opines that when an organisation hasn't implemented all options in terms of a sound operational plan, it's difficult to implement them.
- Outlines the organisational policies, procedures and processes that an organisation needs to have in place in order to effectively manage risk.
- Explains that strategic risk management is not meant to identify each and every risk facing the organisation but identify the ones which are most evident to achieve its goals and objectives.
- Explains that inter-company risk is a risk that relates to many companies and may oblige treatment by multiple organisations to be effective.
- Outlines the legislative and regulatory contexts that may apply to an organisation with regard to risk management. governance principals and the occupational health and safety urge that the organisations take reasonable measures to hinder loss, charge or rage.
- Explains iso 31000:2009 recommends that organisations should have a context that integrates the fashion for managing risk into the organisations during management, practice and strategies.
- Explains that clara barton founded the american red cross in 1881 after becoming involved in the work of the international red cross during the franco-prussian war.
- Explains that good companies are led from the top down. the american red cross has gone through a challenging time, with its slow response to the 9/11 attacks and its poor handling of hurricane katrina.
- Opines that the american red cross needs a leader that will shake up the organization to get its employees and volunteers to focus on its founder clara barton's mission to provide relief to victims of disasters.
- Explains the importance of identifying and understanding stakeholders in an uncertain world. the arc has a vast list of stakeholders that includes victims of disasters, blood and financial donors, communities, employees, volunteers, other nonprofit organizations, and corporate donors.
- Opines that the arc's missteps have led to negative press and distrust amongst potential donors.
- Opines that the arc's recent missteps have shaken their perception of the iconic organization, which has symbolized america’s generosity and willingness to support their neighbors during troubled times.
- Explains rabinowitz, p., work group for community health and developmen, retrieved january 25, 2014.
- Argues that the arc's recent issues are not the fault of a single chairperson or board of governance but could be related to the board members having little to no experience in leading disaster relief efforts.
- Opines that the arc needs a non-political chairperson to take the reins of organization and change the culture of the organization.
- Cites ferrell, o. c., fraedrich, and goodwin, l. (2011). a year after sandy, red cross still dogged by criticism.
- Discusses whether the definition of risk should include upside risk or confined to only threats, as it is important to identify positive risks in projects.
- Explains that the earthquake in haiti created many threats for the red cross providing relief work to the locals.
- Explains that the red cross incorporated upside risk into their risk planning. the positive outcomes are as important as reducing the negative risk.
- Explains that there are few risk management strategies that can be used to develop an effective plan.
- Opines that the first and most crucial step is to create a solid plan, which should include the techniques, tools, and data that are going to be used in the project.
- Explains that identifying the risk can be done by brainstorming with the team members. every input is important and can really affect the process.
- Opines that creating a solid plan is not enough, monitoring the progress is equally important. monitoring and controlling can easily be done by using risk logs.
- Explains the benefits of creating and executing an effective and efficient risk management plan in any project.
- Opines that risk management is about people and processes and not about models and technology. it is important to have the whole team involved and identify their responsibility towards the project success.
- Explains the four main strategies that can help to decide what to do with the risk.
- Explains procurement is a combination of different methods of purchasing construction objects and includes variables such as source of funding, partner selection method, price basis, responsibility for design and management, and amount of subcontracting.
- Explains that price and trust are key to construction procurement, and that a positive collaboration between the parties involved can help lower the risk and reduce the project cost.
- Explains that procurement is fundamental in the construction industry and it is intended to minimize the risks that will occur before and during a project.
- Explains that fixed price and cost-reimbursement are widely used in the construction industry.
- Concludes that clients have to choose an appropriate procurement option that facilitates an effective project organization in general and a thorough risk management operation in particular.
- Describes the scope and objective of the project management plan.
- Recommends ensuring that the risks are identified and covered within the allotted time period.
- Explains the risk management process is intended to cover internal and external risks. the high priority is given towards identifying the potential risks as quickly as possible within the allotted time period of six months.
- Describes govori, a., measuring and managing the impact of risk on organizations: the case of kosovo.
- Explains the risk management plan for flayton electronics following their breach in security of their customer's information. the project manager is responsible for reviewing and maintaining the project risk management plan.
- Explains that the size of a project depends on various factors, such as the time period of the project, budget, tools and techniques, and the use of tests and strategies.
- Explains hillson, simon, and jugdev, k. (2012). learning from lessons learned: project management research program.
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Some Thoughts on the risks involved in writing a master thesis · Scope Creep · Misallocation of Resources · Prioritisation Issues · Love is in the Air at MIUC.
What are the common risks of a research project, and how do you solve them? · Failure to develop a viable and researchable topic · Selection of a
On the other hand, it is impossible to have any projects without risks. Thus, it is essential to have effective risk management rather than trying to eliminate
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Consult the top 50 dissertations / theses for your research on the topic 'Risk in projects.' Next to every source in the list of references, there is an 'Add to
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In the second case, the research group proactively conducts a risk management process described in this thesis. The thought experiment showed
Thesis Statement Risk Management is the process of identifying, analyzing and responding to risk factors throughout the life of a project and in the best