Estimating Project Risk Dependencies

T.W. Kwan and H.K.N. Leung (PRC)


Project risk management, Risk assessment, Metrics


Project risks are not always independent yet existing risk management methodologies often ignore dependencies between project risks. If dependencies can be explicitly identified and analysed, project managers will be able to recognize the relationships between risks, develop better risk management strategies and make more effective risk planning decisions. This paper formally defines the risk dependency and proposes a methodology to estimate and manage risk dependencies. Through a study of three IT projects, the affected risks were re-evaluated due to the existence of risk dependency and the response actions were then selected that could better address the situations. In addition, synergy effects among projects were observed in responding to risks based on the enhanced practices.

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