Project Risk Management Practices and Organizational Maturity Report

This report provides a critical review of an article focusing on project risk management practices and their influence on organizational maturity. The report begins with an introduction that outlines the scope of the review. The discussion section analyzes the article's key arguments, highlighting the importance of project risk management (PRM) practices in determining organizational maturity and its impact on project performance. The report emphasizes the role of project managers in managing risks and the importance of selecting appropriate risk management practices based on project phases. The review covers the article's methodology, including literature reviews and the use of databases like Scopus, EBESCO, and Google Scholar. The findings indicate a strong relationship between organizational PRM maturity and risk management practices, moderated by project complexity. The conclusion summarizes the key takeaways, emphasizing that PRM practices significantly impact project performance. The report also identifies gaps within PRM practices and highlights the attributes of organizational maturity that influence project performance.

Running head: PROJECT QUALITY, RISK AND PROCUREMENT MANAGEMENT
Project Quality, Risk and Procurement Management
Name of the Student
Name of the University
Author note

1PROJECT QUALITY, RISK AND PROCUREMENT MANAGEMENT
Table of Contents
1. Introduction..................................................................................................................................2
2. Discussion....................................................................................................................................2
3. Conclusion...................................................................................................................................3
References........................................................................................................................................5

2PROJECT QUALITY, RISK AND PROCUREMENT MANAGEMENT
1. Introduction
This report is based on a critical review over the article focusing on the aspect of project
risk management practices that would have an influence on determining the maturity of an
organization (Crispim, Silva and Rego 2019). The article chosen for the review would be
thoroughly be reviewed and based on that different aspects for a review would be conducted.
2. Discussion
In the article proposed by Crispim, Silva and Rego (2019), the authors have focused on
the identification of patterns based on managing different risks that might approach the project
during their development stages. The adoption of practices based on project risk management
(PRM) is the primary area of discussion within the article. The PRM thus helps in providing an
empirical evidence that further supports the importance of organizational maturity of PRM,
which are further related to project performance and risk-related practices (Zou, Kiviniemi and
Jones 2017). In this article, it has been discussed that project managers have a major role to play
in managing the various risks that approach towards any concerned project.
With the increase in the size of the project, the complexity of the project increases. Thus,
with the increase in project complexity, there is more importance to assess the associated risks
and thus control them accordingly to accommodate the project phases. The choice of choosing
the best risk management practices would primarily depend on the phase of risk management. In
the article, the authors have discussed on the context variable that are used for the measurement
of project complexity and maturity aspect of risk management. These are in relation to the
company who is held responsible for development of any project.

3PROJECT QUALITY, RISK AND PROCUREMENT MANAGEMENT
The chosen article has conducted a broad form of literature review in order to highlight
the specific areas in relation to the understanding and management of risks incurred over a
project (Zhang 2016). One of the types of literature review that has been conducted is the state-
of-the-art, which revolves around the addressed research topic and identification of related gaps.
On the other hand, a systematic literature review has also been conducted based on determining
the ways in which the constructs have been used within the empirical study that have been
further been measured (Paquin, Gauthier and Morin 2016). In the conducted systematic literature
review, there has been a search for referential databases collected from different databases such
as Scopus, EBESCO and Google Scholar.
From the understanding of the various journals researched from the chosen databases, the
findings have indicated that the different organizational contexts have led to the selection of
project complexity and PRM maturity. The different practices established within PRM relate
with targets that are most commonly used with the help of proper tools and techniques
(Willumsen et al. 2019). The gathered results help in confirming the fact that organizational
PRM maturity have a major influence over the practices for risk management. These are
moderated by the project complexity and thus the organizational PRM maturity helps in majorly
influencing towards the performance of the project.
3. Conclusion
Based on the review of the article, it can be understood that project risk management
practices forms a major impact over the performance of the project. There are different project
related risks that affect the outcomes of the planned project deliverables. This article have helped
in presenting a broad look into the various practices that have been researched and discussed

4PROJECT QUALITY, RISK AND PROCUREMENT MANAGEMENT
within the article. This article has also highlighted the different gaps within the PRM practices.
Thus, this article identifies the different attributes based on organizational maturity that would
form implications towards the usage practices and maintain a high form of project performance.

5PROJECT QUALITY, RISK AND PROCUREMENT MANAGEMENT
References
Crispim, J., Silva, L.H. and Rego, N., 2019. Project risk management practices: the
organizational maturity influence. International journal of managing projects in business.
Paquin, J.P., Gauthier, C. and Morin, P.P., 2016. The downside risk of project portfolios: The
impact of capital investment projects and the value of project efficiency and project risk
management programmes. International Journal of Project Management, 34(8), pp.1460-1470.
Zou, Y., Kiviniemi, A. and Jones, S.W., 2017. Retrieving similar cases for construction project
risk management using Natural Language Processing techniques. Automation in construction,
80, pp.66-76.
Willumsen, P., Oehmen, J., Stingl, V. and Geraldi, J., 2019. Value creation through project risk
management. International Journal of Project Management, 37(5), pp.731-749.
Zhang, Y., 2016. Selecting risk response strategies considering project risk interdependence.
International Journal of Project Management, 34(5), pp.819-830.