Open AccessPROJECT RISK MANAGEMENT BASED ON A SET OF BEST PRACTICES
Author(s) -
Agnieszka Jędrusik
Publication year - 2021
Publication title -
modern management review
Language(s) - English
Resource type - Journals
eISSN - 2353-0758
pISSN - 2300-6366
DOI - 10.7862/rz.2021.mmr.19
Subject(s) - project risk management , risk management , risk management plan , project management , project management triangle , business , process management , process (computing) , risk analysis (engineering) , set (abstract data type) , program management , operations management , it risk management , engineering , computer science , systems engineering , finance , programming language , operating system
The purpose of this article is to present the process of risk management in project management. The analysis was based on a comparison of two best practices of IPMA and PRINCE. Risk management differs significantly between the two approaches, but it is up to the organization to choose its own management, monitoring and methodology tailored to the specific industry or sector. Risk management is an important aspect of the entire project life cycle and must be monitored throughout the project life cycle to protect not only the budget but all areas of the so-called "golden triangle". A very important aspect is the organization's awareness that risk management is everyone's responsibility, not just the project manager. This paper presents two different approaches to project risk management in two different methodologies.