Comprehensive Review: Risk Management's Role in Project Success

This literature review synthesizes findings from various books and publications to explore the impact of risk management on project success. The review covers key areas such as risk management practices in project execution, risk control at different organizational levels (PMO, portfolio, and program), and the challenges faced in project-driven organizations. It discusses strategies and techniques for avoiding uncertainty in project management, the use of risk assessment tools, and the importance of project risk governance. Furthermore, the review highlights the significance of understanding project uncertainties, distinguishing between project risks and uncertainties, and integrating risk management with project procurement for achieving project goals. The publications included offer insights into both traditional and innovative risk management techniques, emphasizing the need for a systematic framework for identifying, prioritizing, and managing project risks to ensure successful project implementation. Desklib provides access to this literature review along with a wealth of study resources, including past papers and solved assignments, to support students' academic endeavors.

Running Head: IMPACT OF RISK MANAGEMENT IN PROJECT SUCCESS
Impact of Risk Management in Project Success
Name of the Student
Name of the University
Author Note

1IMPACT OF RISK MANAGEMENT IN PROJECT SUCCESS
Serial Number Name Of the
Book
Author Name
and Publication
Date
Dimensions Book Summary
1 Risk
Management for
Project Driven
Organizations
Andy Jordan. 13th
May 2013
Use of risk
management
practices while
developing and
implementing
projects, how to
use risk controls
and risk commands
when carrying out
project analysis
and execution
The book explores
risk management
in the area of
project execution,
in detail, with
special emphasis
on how risk
management is
carried out at
PMO, portfolio
and program
levels. It talks
about how risk
management
concepts and how
risk models can be
applied in unique
environments,
thus resulting an
improvement in
risk control and
risk command at
organizational

2IMPACT OF RISK MANAGEMENT IN PROJECT SUCCESS
levels. The book
also enters into a
detailed discussion
of the different
challenges that
arise when risk
management is
conducted in
project driven
organizations.
2 Identifying and
Managing
Project Risk:
Essential Tools
for Failure
Proofing your
Project
Tom Kendrick.
25th March 2015.
Analysis of proven
methods for
planning project
risk, basic outline
of the process of
risk management,
use of high quality
risk assessment
tools to ensure
thorough execution
of projects
This book
provides its
readers with a
basic idea of how
risk management
is carried out for
projects. It talks
about how risk
assessment tools
can be used when
planning a project,
how control, how
systems for the
control and
monitoring of

3IMPACT OF RISK MANAGEMENT IN PROJECT SUCCESS
projects can be
implemented, and
how all the
considerations that
need to be made in
the course of the
risk management
process should be
properly
documented.
3 Managing
Project
Uncertainty
David Cleden. 2nd
March 2017.
Use of
conventional risk
management
techniques in
project
management, how
to avoid
uncertainty in
project
management,
basics of project
management, how
to use project
management
concepts and
techniques in the
avoidance of risk
The book
discusses the
different strategies
and techniques
that can be used in
order to avoid
uncertainty in the
area of project
management. It
also introduces a
number of new
concepts and
theories to its
readers that may
be used in order to
deal with such
uncertainty

4IMPACT OF RISK MANAGEMENT IN PROJECT SUCCESS
4 Project Risk
Analysis:
Techniques for
Forecasting
Funding
Requirements,
Costs and
Timescales
Derek Salkeld.
28th April 2013.
Analysis of the use
of assimilated risk
techniques in the
effective and
efficient
implementation of
projects,
understanding how
risk techniques can
be used to inform
investment and
other business
decisions for any
important project.
The book explains
how financial
resources for any
small-scale project
can be estimated
using a number of
risk based
methods. It also
talks about the
techniques that
can be executed to
influence
investment
decisions and how
specific risk
management
controls can be
designed as well
as implement for
assuring the
outcomes of any
project investment
decision.
Project Risk Roland Wanner. Risk management

5IMPACT OF RISK MANAGEMENT IN PROJECT SUCCESS
5 Management:
The Most
Important
Methods and
Tools for
Successful
Projects
14th March 2013. planning and
identification,
communication
and documentation
of risk, monitoring
as well as
controlling risk,
risk management
as a process
This book talks
about the most
vital tools and
methods that can
be used very
successfully for
managing risk in
projects, in a way
that is both
pragmatic as well
as convenient.
6 Portfolio Risk
Management and
its Contribution
to Project
Portfolio Success
Julianne Teller.
2013.
Development of
comprehensive
conceptual models
for describing the
process of
portfolio risk
management,
linking project
portfolio success
by mediating
certain variable
qualities
concerning risk
management
This book
investigates three
major components
that may be linked
to portfolio
success through
the mediation of
risk management
quality. It provides
readers with some
effective
principles that can
be put to use to
handle project
portfolio
management in a

6IMPACT OF RISK MANAGEMENT IN PROJECT SUCCESS
successful way.
The book provides
a development
framework that
can be used in the
future to carry out
research on the
important impact
of portfolio risk
management as
well as its success.
7 Project Planning
as Key to
Success in
Project
Management
Stefanie Vater.
2013.
The relation
between project
nature and project
uncertainties,
understanding the
increasing demand
of projects for
businesses,
developing
innovative and
quick solutions to
address issues in
project
management such
as project risk.
This book gives its
readers a thorough
understanding of
how the nature of
a particular project
can be connected
with the
uncertainties or
risks that arise
upon its planning
and execution. It
goes on to talk
about the
interdisciplinary,
innovative and
efficient solutions

7IMPACT OF RISK MANAGEMENT IN PROJECT SUCCESS
that can be put to
use to combat
these risks and
uncertainties.
8 Project
Management,
Planning and
Control
Albert Lester. 16th
September 2013.
Risk management
in projects,
understanding
project success
criteria
This book talks
about the
techniques and
methods that may
be used to ensure
the successful
execution of
projects. It
provides a detailed
overview on how
risk management
can be carried out
to ensure effective
project
implementation
and gives readers
an understanding
of all the criteria
that needs to be
met to properly
carry out a project,
including the
control or

8IMPACT OF RISK MANAGEMENT IN PROJECT SUCCESS
elimination of risk
9 Silver Lining of
Project Success
Ting Gao, Thomas
G. Lechler. 1st
October 2013.
Distinguishing
between project
risks and
uncertainties,
identification of
key project risk
elements
The book gives
readers a critical
understanding of
the differences
between project
risk management
and project
uncertainty
management. It
talks about how
project success
can be easily
differentiated from
project value for
instance, and helps
readers to identify
all the important
elements that are
associated with
project
management like
value opportunity,
project uncertainty
and project risk

9IMPACT OF RISK MANAGEMENT IN PROJECT SUCCESS
10 Agile Project
Management
K.H. Rose. 26th
June 2013.
Responding to
uncertainty,
change and risk in
project
management, how
any interaction
between project
management
professionals and
teams can
influence the
process of project
risk management
This
interdisciplinary
book gives its
readers an idea of
how responses
may be generated
towards the
changes, risks and
uncertainties that
could rise when
implementing a
project. It plays
considerable
attention to how
the process of
interaction
between project
management
teams as well as
project
management
professionals can
end up having an
impact on the
management of
risk in a particular
project.

10IMPACT OF RISK MANAGEMENT IN PROJECT SUCCESS
11 Project
Management –
Absolute
Beginners Guide
Greg Horine. 9th
February 2017
Upfront scheduling
and budgeting of
projects,
understanding,
identifying and
smoothly handling
the risks and
changes that can
arise when running
or managing a
project
This book guides
its readers on how
projects must be
budgeted and
scheduled. It gives
its readers an idea
about how risks to
projects and other
uncertainties can
be perceived and
then managed in a
hassle free manner
so as to keep these
from affecting the
success of the
project,.
12 Rules of Project
Risk
Management :
Implementation
Guidelines for
Major Projects
Robert. J.
Chapman. 31st
January 2014.
Project risk
management
benefits, rules of
managing risk
during the
implementation of
projects
The book talks
about how project
risk management
can be a really
beneficial thing if
it is applied in an
effective manner.
It also mentions
all the
ramifications that

11IMPACT OF RISK MANAGEMENT IN PROJECT SUCCESS
are likely to
emerge upon the
misunderstanding
of project risk or
in the event, that
project risk does
not receive
sufficient
attention.
13 Managing Risk
in Projects
David Hillson.
15th May 2017.
Project risk
management
concepts and ideas,
modern
approaches to the
management of
risk in projects
This book talks
about the
importance of
managing risks in
the course of
project
implementation. It
talks about the
central concepts
that need to be
understood in
order to
implement the
process of risk
management in
projects of
different types as