A review of methodologies and tools for project risk management

Published in: Innovation in Engineering, Technology and Education for Competitiveness and Prosperity: Proceedings of the 12th Latin American and Caribbean Conference for Engineering and Technology
Date of Conference: July 21-24,2014
Location of Conference: Guayaquil,Ecuador
Authors: Vanessa Manotas Niño
Philippe Clermont
Laurent Geneste
Refereed Paper: #206

Abstract:

Risk management process is a methodology that must be applied in all project phases, so there is the opportunity to make important modifications and increase the success likelihood. Each project needs to be analyzed in detail in order to choose the best method at each phase. The objective of this paper is to present two methodologies using the same decision support system (DSS) with analytic hierarchy process (AHP) and different current tools applied in project risk management. This work is the first stage of a doctoral thesis which aims is to create technical and methodological support to improve, from the feedback, risk management in projects and operational forecasting and generate rules of good practice. This work is based on review and analysis of the concepts used in the literature.