Institutional Repository
Technical University of Crete
Technical University of Crete
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| URI: | http://purl.tuc.gr/dl/dias/CA00C66A-E224-4CDB-B0D0-BE5D31B4379E | ||
| Year | 2025 | ||
| Type of Item | Diploma Work | ||
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| Bibliographic Citation | Michail-Georgios Papageorgiou, "Risk analysis in project management: Theoretical approaches and mitigation strategies", Diploma Work, School of Production Engineering and Management, Technical University of Crete, Chania, Greece, 2025 https://doi.org/10.26233/heallink.tuc.104572 | ||
| Appears in Collections |
The subject of this thesis is risk management in the context of project management. In the first chapter, the concept of the project and its management is analyzed, historical elements of the industry are presented, the role of the project manager is highlighted and the stages of the life cycle of a project and the modeling of available resources are described. The second chapter examines the nature of risk, with a focus on the particularities of public works, and classifies risks into economic, technical, environmental, organizational, social, legal, and political categories. The third chapter presents key methods of risk analysis and assessment, such as SWOT, PESTLE, Monte Carlo simulation, Decision Tree Analysis, and the Delphi method, with applications tailored to project environments. The impacts of risks are also assessed. The fourth chapter delves into risk response strategies for both negative risks (threats) and positive risks (opportunities), including techniques such as avoidance, transference, mitigation, acceptance, exploitation, enhancement, sharing, and opportunity acceptance. The paper advocates for a holistic and proactive approach to risk management, one that is integrated from the earliest stages of a project and strengthens its sustainability and success.
Copyright © DIAS 2013
