Analysis of risk management practices in day-to-day work of project managers

Bc. Martin Winkler

Master's thesis

Abstract:

This diploma thesis is focused on the analysis of risk management practices in the day-to-day work of project managers in the organisation operating in the information technology industry. To provide the analysis of the risk management processes, a literature review of contemporary best practices was conducted to set up a base for the comparison with the organisation’s practices. Completed research showed that project managers in the organisation have access to the internal project management methodology, which includes activities related to risk management, covering even more areas than recommended by contemporary academic and professional literature. However, its endeavour to achieve maximal universality in the application is based at the expense of its specificity. An important input for the conclusion of the analysis was empirical data gathered from the questionnaire survey of project managers from the organisation of focus, including self-evaluation of project managers in the field of risk management. Despite project managers’ satisfaction with the adopted methodology, the rating of its current implementation in the organization was rated rather negatively. Thus, the organisation was given with a set of feasible recommendations on how to improve the current process. One of the recommendations proposed to the organisation was the inclusion of quantitative risks analysis into the day-to-day work of project managers, as it is considered the most reliable method for assessing overall risk exposure.

Keywords

project management, project manager, PMBOK, PRINCE2, risk, opportunity, risk management, uncertainty, IT company, risk log

Language used: English

Date on which the thesis was submitted / produced: 6. 4. 2020

Thesis defence

• Supervisor: Ing. Richard Selby, Ph.D.

Czech University of Life Sciences Prague

Faculty of Economics and Management

Master programme / field:
Economics and Management / Economics and Management