Project risk assessment of higher education online learning project during the Covid-19 crisis

This research aims to identify and assess the project risks of online teaching in Indonesian higher education institutions during the COVID-19 crisis. Two analyses have been conducted using the project risk management approach. First, a triangulation analysis based on interviews with 35 online teaching stakeholders was implemented in order to construct a risk breakdown structure to identify major registered risks. Second, a risk assessment calculating the severity score of each registered risk was conducted using an online survey with 125 online teaching participants. The results of these analyses concluded that there were 11 registered risks, with the highest risk exposure in the technological area. In terms of risk criticality, inadequate Internet connection and an inconducive learning environment were selected as the most critical risks with the highest severity scores. These results imply the importance of focussing on the technological risk mitigation and strategy policies to prepare for future online learning projects after the COVID-19 crisis in Indonesia. Keywords: distance learning, online teaching, project risk management, risk breakdown, structure.

Delay Risk Assessment Models for Road Projects

Significant universal research regarding causes of delay in road projects has been carried out based on expert opinion. This study classifies and standardizes all road construction delay factors found in the literature by developing a common risk breakdown structure (RBS) to allow for comparison between real project delay factors, and the study also proposes two delay risk assessment models (DRAMs) based on delay information from 120 real projects constructed in a similar environment with akin procurement and contract policies. The first calculates the risk priority number (RPN) and the second applies the Technique for Order Preference by Similarity to Ideal Situation (TOPSIS) multi-criteria decision-making method (MCDM). The results showed that four specific delay factors dominate in Greek road construction for which relevant mitigation proposals are made. The proposed DRAMs, while calibrated for application in Greece, can be adapted to any construction environment for which real project data is available to provide a tool for transferring experience from past projects to future projects and from accomplished to novice public client decision makers.

A Risk Analysis‐Best Worst Method Based Model for Selection of the Most Appropriate Contract Strategy for Onshore Drilling Projects in the Iranian Petroleum Industry

The pre-project planning phase has a significant impact on the achievement of project objectives because during this stage, major decisions including involving contract strategies are made with a high degree of uncertainty. Studies show that the contract type can play a unique role in the achievement of project success. On the other hand, drilling projects can be considered as one of the most critical types of projects in the petroleum industry. In this research, a novel risk based best-worst method (risk-BWM) is proposed for solving the issue of selecting the best contract strategy. A three level methodology was designed; firstly, the risk breakdown structure (RBS) of drilling projects was created in four levels including one heading in level 0, eight main areas of risk in level 1, 34 sub-areas of risk in level 2, and finally, 217 risk items in level 3. Secondly and on the basis of BWM, the weights of risk factors were determined as the selection criteria and consequently the best and the worst criteria were specified. Finally, using pair-wise comparisons between six types of drilling prevalent in contracts, the most appropriate contract type was proposed. The contribution of this study is the development of a generic RBS for drilling projects and application of the risk factors for the first time for the selection of contract type using the BWM method, which has the potential of being adapted for other types of underground projects.

Development of Risk Breakdown Structure for Online Learning Project during COVID-19 Crisis

This research aims to develop risk breakdown structure specifically for virtual learning projects in higher institution. Transition from physical face-to-face study into virtual learning practices during COVID-19 mitigation phase had been selected as main focus to construct risks identification. Opinions and experiences from 35 stakeholders in university level had been gathered and analyzed using triangulation and meta-language of risk statement methods, in order to maintain statements’ validity and quality based on project management’s standard. All registered risks were listed using universal risk breakdown structure format, which emphasized on three risk areas: internal, external, and technology, in order to categorize risk based on its sources and identify area with high exposure of risk. The result proposed 11 risk statements with highest exposure of risk on technology area. This result indicated that virtual learning organizers need to consider strategies and mitigation process in technology area, specifically on the infrastructure readiness, user capabilities, and communication gap inside the virtual environment.

Risk Mitigation Strategies in Implementing Scrum Framework for Internet-Based IT Companies in Indonesia

To date many Information Technology Companies in Indonesia implement Scrum Framework which is one of the frameworks that uses Agile principles. The implementation of the Scrum Framework does not guarantee that these companies will be free from risk, since many risks will also appear during the implementation of the framework itself. Therefore, risk management strategies are needed to mitigate these risks. This research is a qualitative research to manage risk due to the implementation of Scrum Framework in software development of IT companies, especially in Indonesia. Interviews have been conducted to the Scrum stakeholders in three IT Companies to gather some initial data to be analyzed further using Qualitative Content Analysis Method and Risk Breakdown Structure. Our finding show that there is 17 Risk Registers and their Mitigation Strategies for the implementation of Scrum Framework in Indonesian IT Companies. Furthermore, it can be used as guidelines for decision making about whether to implement this framework in their core businesses.

Procedimiento de evaluación de riesgos enfocado a identificar y mitigar desviaciones que impacten la utilidad en proyectos de construcción empleando la técnica de Simulación Monte Carlo (SMC)

De acuerdo con Gordillo (2014), la mayoría de los proyectos de construcción en el Perú no desarrollan una adecuada gestión de sus riesgos desde la etapa de licitación lo que conlleva a importantes falencias durante la elaboración de estimaciones de costo y a una toma de decisiones carentes de una visión integral del proyecto ocasionando el incumplimiento de los objetivos de costo. Como consecuencia, se presenta una afectación directa de la utilidad planteada e importantes fondos para las empresas que, a su vez, afectan su reputación en el mercado y desincentivan a los stakeholders a invertir en nuevos proyectos. La presente investigación propone un procedimiento de evaluación de riesgos enfocado a identificar y mitigar desviaciones que impacten la utilidad en proyectos de construcción empleando la técnica de Simulación Monte Carlo (SMC), elegida por su alta capacidad de procesamiento de datos y practicidad de aplicación. El procedimiento se compone de cinco procesos: la Identificación de Riesgos, para identificar y documentar los riesgos; Análisis Cuantitativo, para la modelación empleando la técnica SMC; Planificar la respuesta a los riesgos; Controlar los riesgos durante la ejecución; y Actualizar los activos de la organización propuestos como la Estructura de Control de Costos (ECC), el Registro de Ratios de Costos (RRC), el Registro de Lecciones Aprendidas (LLAA) y un Risk Breakdown Structure (RBS), los cuales permiten un manejo adecuado de la información histórica de costos y riesgos. El procedimiento elaborado fue validado a través de juicio de expertos por profesionales especializados para aumentar la base de conocimientos de un área poco desarrollada como es la gestión de riesgos en el país.

Conventional Project Risk Management (PRM) Methodologies

Overview of the conventional PRM methodology is based on the introduction of a PRM system that comprises a PRM context, a PRM process, and PRM tools. Typical PRM process steps to identify, address, assess, monitor, etc risks are reviewed to comply with PRM context (i.e. features and challenges of a project). Main sorts of uncertainties related to risks as possible impacts on project objectives—uncertainties of identification, manageability, assessments of impacts and probabilities, and favourability—are discussed. Key PRM tools to support the PRM context and the process—a PRM plan, a bowtie diagram, a risk breakdown structure (RBS), a risk assessment matrix (RAM), and a risk register—are introduced. A role of psychological and organizational bias as a systematic error in the PRM process is elaborated.