Enhancing Project Robustness: A Risk Management Perspective
Kilian Gericke
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Abstract
This work is the result of my research as a member of the Engineering Design and Methodology group at the Technische Universität Berlin. Here I would like to thank my colleagues for an always pleasant time and an inspiring working environment. My special thanks go to Dr. Bruno Gries, Patrick Müller, and Andreas Bischof; they supported my reflections by giving me always honest feedback. Prof. Dr. Michael Schmidt-Kretschmer contributed to this work by giving me insights into aspects of design practice you will never find in any textbook and who always reminded me to stick to my own schedule.
Key takeaways
- An introduction into project risk management follows in Section 3.4.
- The selection of appropriate risk strategies is influenced by the corporate risk culture, the willingness of the risk manager to take risks, the risk tolerance of the team, and the companies' project management and product development capabilities (Kerzner 2006).
- Even though, risk treatment is limited to those risks which were identified beforehand, project risk management offers the chance to reduce the likelihood of project failure.
- On a project level, approaches such as design methodologies (Section 3.1) and project risk management (Section 3.4) contribute to successful product development.
- Cause and effect represent the project risk, which may lead to a project failure (consequence).
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