A DISCUSSION ON THE WAYS OF DEALING WITH RISKS EMBEDDED IN PROJECT

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Date
2018-06
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The British University in Dubai (BUiD)
Abstract
The current research dissertation is on the topic – A discussion on the ways of dealing with risks embedded in project. It aims to analyse the strategies for reducing risks in the embedded project. The research mainly concentrates on concept and technique of risk management strategy to reduce the risks related with the project. In this entire process of research, the researcher evaluates the company’s current condition, the issues it is facing and the loopholes present in its risk reducing strategy. For this purpose, the researcher also delves deep into the existing literature upon the current and related topics, so that the researcher gains a clear insight of the study area. As the company is facing problem due to the project risks, this research also supplies the company with some useful recommendations to mitigate issues. To carry out a disciplined research work, the researcher applies positive research paradigm, deductive approach of research and explanatory design of investigation. The researcher carries out primary research for this topic and through the primary investigation, yields a combination of quantitative as well as qualitative data. For collecting data, 3 operational managers and 2 Risk Management Officers were interviewed and asked about their point of view in having risk management team within the company and what kind of progression does it make in development of the companies. The researcher found that risks in project management may create big issues for both the company and its customers in future. The learner has recommended development of risk quotient designs so that risks can be measured and mitigated.
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Keywords
embedded project, risk management strategy, project management
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