Predicting the Impact of Multiple Risks on Project Performance

A Scenario-Based Approach

Article Risk Management 1 October 2017

Project Management Journal

Bañuls, Victor A. | López, Cristina | Turoff, Murray | Tejedor, Fernando

How to cite this article:

Bañuls, V. A., López, C., Turoff, M., & Tejedor, F. (2017). Predicting the Impact of Multiple Risks on Project Performance: A Scenario-Based Approach. Project Management Journal, 48(5), 95–114.
This article suggests a scenario-based approach to properly managing risks during the lifetime of a project. Our proposal aims at giving managers a structured process to predicting the impact of the occurrence of multiple risks that can affect project performance. This is a product of combining Cross-Impact Analysis (CIA) and Interpretive Structural Modeling (ISM) mechanics, which improve the predictive capacity of existing risk analysis techniques. In order to validate their risk predictions, we compare them with a sample of real projects carried out in an engineering company. The findings show a high explanatory capacity to forecast project risk influences.
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