Journal of Social Science for Policy Implications

Relevance of Practicable Methods to Deal with Risks in Project Management
Sankar Rajeev

Abstract
Risks have a variety of causes and they follow a pattern in relation to the life cycle of a project. It is evident from observations that risks are more during the initial stages of the project and less during the final stages, but similar rationale cannot be thought about in the case of cost, which has been found to be the reverse. The proposed research work has the aim of analyzing the impact of risk management in projects. Review of literature indicates that the aspect of risk management is crucial in the field of project management. Studies carried out on the root causes failure of a project leads to factors such as lack of attention given to mitigation of risks. A descriptive research methodology is adopted. In the past such a correlation has not been attempted realistically, thus it was found that such a study would be not only enriching and useful but also interesting. The findings will give an insight on to the relevance of practicable methods to deal with risks in project management not only at the industry level but also at global operations level and may serve as input in improving, ensuring efficiency in business methods and support further research on the subject.

Full Text: PDF     DOI: 10.15640/jsspi.v12a3