Improvement of Risk Management Process in Space Product Development Through its Continuous Integration

2022 ◽  
Vol 18 (6) ◽  
pp. 54-65
Author(s):  
E. A. Afanas’eva
Keyword(s):  
Risk Management ◽  
Product Development ◽  
Continuous Process ◽  
Development Planning ◽  
Theoretical Research ◽  
Management Process ◽  
Process Performance ◽  
Space Industry ◽  
Risk Management Process ◽  
Space Product

Relevance. Nowadays, enterprises not only have to constantly introduce new products, but also to reduce development time, reduce costs, and improve the variety and quality of their products. In the product development process, risk management is too often underutilized and relegated to the background compared to product development planning and monitoring tools. Moreover, the measurement of process performance of risk management within product development is not defined and does not allow for comparison with peers or support continuous process improvement.The purpose of the study is to provide a framework for improving the risk management process performance in space product development. So that risk managers have the proper tools to monitor and understand where resources and efforts should be directed to improve the process.Results. This article identifies how to represent risk in product development and how to measure its impact on the performance of the risk management process in product development. Through a survey of key players in the Russian space industry, the study identifies different practices and needs in risk management, product development and performance measurement of these processes.Methods. Theoretical research methods: analysis, synthesis, classification, comparison, abstraction, generalization, modeling. Empirical method — survey: questionnaire survey. The key contribution of this study (to limit the usual delays and cost overruns in the space industry) is to establish specific characteristics and methods that can serve as a reference practice and basis for the future development of a tool that will assist in the evaluation of space development projects.

Customisable framework for project risk management

2017 ◽  
Vol 17 (1) ◽  
pp. 68-89 ◽  
Author(s):  
Jennifer Firmenich
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
New Institutional Economics ◽  
Future Research ◽  
Project Risk Management ◽  
Management Process ◽  
Project Risk ◽  
Content Type ◽  
Risk Management Process ◽  
Management Concepts

Purpose The purpose of this paper is to emphasise on the need for efficient and effective project risk management practices and to support project managers in increasing the cost certainty of projects by proposing a new framework for project risk management. Design/methodology/approach The author adopts a “constructivist” methodology, drawing on practices common in construction management sciences and new institutional economics. Findings The author presents a holistic and customisable project risk management framework that is grounded in both practice and academia. The framework is holistic because, amongst others, all steps of the typical risk management process are addressed. The framework is customisable, because it allows for alternative ways of implementing the project risk management steps depending on the project-specific circumstances. Research limitations/implications The framework does not address the potential unwillingness of the project players to set up a project risk management process, at all. The proposed framework has not yet been tested empirically. Future research will seek to validate the framework. Originality/value The framework is designed to account for the difficult circumstances of a complex construction project. It is intended to support decision makers in customising a practical yet comprehensive project risk management concept to the characteristics of the unique project. Although many other project risk management concepts are designed based on the assumption that actors are perfectly rational and informed, this framework’s design is based on the opposite assumption. The framework is dynamic and should adapt over time.

scholarly journals Exploring the Project Risk Management: Highlighting the Soft Side of Project Management

2021 ◽  
Author(s):  
Muhammad T. Hatamleh
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Leadership Style ◽  
Risk Attitude ◽  
Management Process ◽  
Participative Leadership ◽  
Project Risk ◽  
Analytical Skills ◽  
Risk Management Process ◽  
Process Groups

The majority of the approaches to managing project risk follow the logic of process groups. Project Management Institute (PMI) has 29 tools and techniques related to risk management process groups. Consequently, engineering and business schools have been accused of educating managers with sharp analytical skills but little understanding of social problems. The literature suggests that too much attention is focused on learning the techniques and formalities of risk management but not enough on the advanced issues of management. Also, the literature argues that there are two approaches to project management (hard and soft). The hard side only covers part of the managerial aspects which helps to manage foreseeable uncertainties. However, unforeseeable uncertainties need skills that related to soft side approaches such as emotional intelligence, navigating the organization’s culture, risk attitude, participative leadership style, and managing the relationship with stakeholders. This study provides an intensive review of the literature to discuss the need for integrating the hard and soft sides of management to achieve an effective risk management process. In addition, it proposes a conceptual framework that provides guidelines to enhance overall risk management efficiency.

Sign in / Sign up

Export Citation Format

Share Document