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This study examined theories and concepts related to the enactment of strategic project risk management in non-profit organizations. A vulnerability-based conceptual model VBCM was developed that shows how risk management behaviours can help non-profit managers deal with complex interorganizational factors and uncertainty in projects’ contexts for ensuring the desired social impacts stakeholders expect. Three main vulnerabilities – finances, human relationships and alliances – arise from the challenges non-profits face when attracting and retaining human and material resources and building cooperative relationships within local contexts in order to achieve projects’ social goals.

Developing a vulnerability-based conceptual model for managing risk in non-profit projects: a multicase study in a European country