The topic area of dissertation is, “Dose Project Management practice of today meet the ever changing requirements for tomorrow Business?”. Therefore, select the working of this coursework is “Scalable risk management approaches in modern Project management Practice”.

Synopsis

This research topic is intended to come up with approaches that would ensure that risk management approaches are universal and hence applicable to any type of a project regardless of size or degree of complexity. The major reason why this research topic is significant is the dynamic nature of projects. Project complexity is increasing and this result in difficulty in the implementation of risk management strategies (Atkinson, Crawford and Ward, 2006). Risk management is one of the major components of project management. It is a component that greatly influences project success. The implication is that poor risk management strategies increases the chances of project failure while suitable strategies increases the chances of project success (Atkinson, Crawford and Ward, 2006). Therefore, the proposed study will address this problem by recommending highly flexible risk management approaches that can be applied to any type of a project irrespective of the project complexity. Based on this, it is correct to infer that the purpose of the proposed study is to enhance flexibility and scalability of risk management approaches.

In order to attain this purpose, the project will be qualitative in nature. This is based on the fact that the data expected to be used in the proposed research will be largely non-numerical. Additionally, this is an approach that will enable the researcher get deeper insights into the topic which would otherwise be difficult to achieve when other approaches are used (Creswell, 2008).

The major beneficiaries are project managers and project sponsors. Project managers will not be required to come up with new risk management strategies and this will help in time saving. On the other hand, project sponsors will be assured of timely delivery of their products because risk management is a component that greatly influences project success. Therefore, based on this, it is correct to infer that the proposed research study will be of benefit to all stakeholders in a research project. This is because the success rate of the project will be significantly increased.

The project will be structured in such a way that reliability of the final results is given great consideration. The first step will involve advanced literature review building on the information reviewed in the four core papers used in this research proposal. This will provide more information for analysis purposes and hence increasing the chances of getting reliable information.

The information collected from these sources will be analyzed. This will involve grouping of various risk management approaches used in projects of different complexities. This will enabled the researcher to determine the modifications which can be made on these risk management approaches to make them adaptable to any type of a research project. Once this has been done, the entire project process will be documented, that is, a dissertation presenting all information pertaining to the research process will be compiled.

Aim

The aim of this research is to come up with a set of risk management approaches scalable to any type of a project regardless of size or complexity.

Objectives

An objective is basically defined as the sub-goals that the researcher intends to achieve in a research study (Ceswell 2008). In order to achieve the above project aim, the research objectives will be:

  1.To determine current project risk management approaches.

  2.To determine limitations of these risk management approaches in project management.

  3.To recommend universally applicable risk management approaches in project management.

 

Search strategy

In searching for the most appropriate peer reviewed papers for this research, the search keywords and phrases used include, ‘risk management in projects’, ‘project risk management’, and ‘scalable project risk management’. These phrases were chosen based on the fact that their wording greatly matches the wording in the project title. This is an aspect that facilitated a more refined filter for systematic literature review. Therefore, rather than listing a very high number of sources, these keywords enabled the listing of only the most relevant sources for the topic under study. This is an aspect that helped in saving time in identifying the most relevant sources.

Google search engine was used in searching for peer-reviewed