Risk Management in Projects – Advantages and Disadvantages Cover Image

Управление на риска в проекти – предимства и недостатъци
Risk Management in Projects – Advantages and Disadvantages

Author(s): Ivana Karadzhinska
Subject(s): Economy, Supranational / Global Economy, Business Economy / Management, Accounting - Business Administration
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: рisk management; project; qualitative and quantitative methods; advantages; disadvantages
Summary/Abstract: Risk management is an integral part of successfully managing any project. It takes a combination of knowledge and skills, as well as flair and deep thinking, to bring any project to a successful conclusion. This article will examine both the advantages and disadvantages of the risk management process. With the help of qualitative and quantitative methods for risk analysis, conclusions are reached regarding an appropriate methodology, tailored to the specifics of the specific project. The topic of project risk management is very current and applies to both small businesses and large corporations. Specific conclusions can be drawn from this article, based on specialized literature and management experience in Bulgarian companies. In constantly developing business environments, constant and quality training of personnel is necessary to properly manage the projects assigned to them. Weeding out advantages and disadvantages can be beneficial to anyone involved in project management. At the end of the article, conclusions are drawn and expert recommendations are prepared.