Systemic risk elicitation: Using causal maps to engage stakeholders and build a comprehensive view of risks
As evidenced through both a historical and contemporary number of reported over-runs, managing projects can be a risky business. Managers are faced with the need to effectively work with a multitude of parties and deal with a wealth of interlocking uncertainties. This paper describes a modelling pro...
| Main Authors: | , , , , |
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| Format: | Journal Article |
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Elsevier BV * North-Holland
2014
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| Subjects: | |
| Online Access: | http://hdl.handle.net/20.500.11937/42364 |
| Summary: | As evidenced through both a historical and contemporary number of reported over-runs, managing projects can be a risky business. Managers are faced with the need to effectively work with a multitude of parties and deal with a wealth of interlocking uncertainties. This paper describes a modelling process developed to assist managers facing such situations. The process helps managers to develop a comprehensive appreciation of risks and gain an understanding of the impact of the interactions between these risks through explicitly engaging a wide stakeholder base using a group support system and causal mapping process. Using a real case the paper describes the modelling process and outcomes along with its implications, before reflecting on the insights, limitations and future research. |
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