The Functioning of Heerema Marine Contractors' Project Risk Management & the Usefulness of Quantitative Risk Analysis

The Functioning of Heerema Marine Contractors' Project Risk Management & the Usefulness of Quantitative Risk Analysis

Van Dongen, M.M.

Verbraeck, A. (mentor)
Mooi, H.G. (mentor)
Vrancken, J.L.M. (mentor)

Technology, Policy and Management

Management of Technology

Technology, Strategy & Entrepreneurship

2011-08-19

Heerema Marine Contractors' (HMC) former Project Risk Management (PRM) method was until recently supported by a specialized risk team. The risk team facilitated the PRM activities, i.e. risk assessment workshops and review moments during the projects. The risk team also performed a quantitative risk analysis on all projects. Such an analysis provides insight into the project risk, i.e. the combined effect of the identified risk events. The Board of Directors abandoned the risk team after three years of service. The abandonment was associated with two adjustments: (a) the project manager received the full responsibility for all PRM activities and (b) the quantitative risk analysis disappeared. Since then there has been an ongoing discussion about the Board of Directors' decision to abandon the risk team. This raises the research questions 'Which aspects of HMC's current project risk management method show room for improvement?' and 'What is the usefulness of quantitative risk analysis in HMC's project risk management?'

Project Risk Management
Qualitative Risk Analysis
Quantitative Risk Analysis
Risk Champion

http://resolver.tudelft.nl/uuid:2ead1377-37c2-4254-a5f8-26440567ac72

2011-08-19

Student theses

master thesis

(c) 2011 Van Dongen, M.M.