Risk Management In Research And Development (R&d) Projects: The Case Of South Australia
A definition of the effective methods of risk management in R&D projects has remained elusive. Similarly, there have been calls to devise effective risk management methods in R&D projects. To develop this area further, the purpose of this study is twofold. First, it validates the veracity...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Asian Academy of Management (AAM)
2014
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| Subjects: | |
| Online Access: | http://eprints.usm.my/36623/1/Art_4%2867-86%29.pdf http://eprints.usm.my/36623/ http://web.usm.my/aamj/19022014/Art%204(67-86).pdf |
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| Summary: | A definition of the effective methods of risk management in R&D projects has remained
elusive. Similarly, there have been calls to devise effective risk management methods in
R&D projects. To develop this area further, the purpose of this study is twofold. First, it
validates the veracity of claims about the urgency of introducing effective methods of risk
management to R&D projects in South Australia based on nine unstructured interviews
with experts. Second, the study presents the outcomes of two case studies that deployed
the extended version of the failure mode and effect analysis, namely, the RFMEA method
in a South Australian organisation, to investigate how the method can facilitate the
identification of effective contingency plans to mitigate high-priority risks. The findings
showed that the RFMEA method would be effective for project managers in dealing with
risk management issues in R&D projects. The discussions presented will provide
guidelines for practitioners in the industry. |
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