Project Risk Management

Purpose
Project risk management (PRM) and human resource management (HRM) are the two critical success factors (CSFs) for international project management. This paper aims to correlate these two CSFs, identify the human resource (HR) barriers, develop a hybrid model for risk management and develop strategies to overcome the HR barriers to effective risk management in international projects.

Design/methodology/approach
In total, 20 key HR barriers have been identified through a literature survey and verified by project professionals. These HR barriers are ranked according to their ability to trigger other barriers by analysing their interactions using the decision-making trial and evaluation laboratory (DEMATEL) method. Based on Ulrich’s revised model for HR functions, a hybrid framework for international PRM has been proposed.

Findings
DEMATEL analysis categorized nine barriers as cause barriers and 11 as affected barriers. The “PROJECTS” model proposed for HR strategy development suggests eight strategies to overcome these nine cause barriers. The hybrid PRM framework developed includes the effect of the HR dimension.

Research limitations/implications
This paper presents the generalized prioritization of HR barriers to international PRM. For a specific international project, the HR barriers and their prioritization may change slightly. The hybrid framework for PRM and the strategy development model suggested are yet to be validated.

Originality/value
Correlating two CSFs in international project management, i.e. HRM and PRM and ranking the HR barriers using the DEMATEL method is the uniqueness of this research paper. The hybrid framework developed for PRM based on HR functions in Ulrich’s revised model and the proposed new HR strategy development model “PROJECTS” are unique contributions of this paper.

This work is a research done by Mwalimu Martin Otundo out of a friend's inkling. The idea of the project was initially put forward by Adam. Publication has been done by Mwalimu martin Otundo to add knowledge and literature to other scholars. ABSTRACT Over 72% of development in both the developed countries and LDCs are existing just as PPPs. This is greatly tied to the fact that infrastructural projects require large amounts of capital investments .This study however has the view that all the countries in the world have engaged the private sector in public projects development just because they have noticed their importance. The purpose of this study therefore is to find out the viability of PPPs in Mombasa County, Kenya. The study is guided by four objectives that seek to; examine the extent to which financial provision role enhances the viability of Public Private Projects in Mombasa County, establish the extent to which technical know-how provided by Public Private Projects enhances their viability in Mombasa County, establish the extent to which risk management role played by Public Private Projects enhances their viability in Mombasa County, and, determine the extent to which the cost efficiency role played by the Public Private Partnership projects enhances their viability in Mombasa County, Kenya. The objectives also form the themes in literature review. A descriptive research design will be adopted for the study. In the study purposeful sampling will be used in accordance to the characteristics the elements in the population possess. The research targets managers/employees handling PPPs projects in Mombasa County. The target population is about 2,400 but a population sample of 80 will be used. A pilot study will be conducted to check the instruments reliability and validity. Data will be collected using a structured questionnaire which will be administered personally, via e-mails, enumerators and pick them after they had been filled. Data will be coded and analyzed using the SPSS. The data will be analysed and the variables correlated to check the relationship of data. A regression model will also be fitted to check the changes in the dependent variable that can be explained by variations in the independent variables. 2

Difficulties in the disaster management process are caused by many factors such as the complexity and fast-spreading harmful effects of hazards, lack of timely and accurate information, difficulty in making key decisions, inability to assess the situation in a short time, the complexity of managing necessary resources, etc. For these reasons, effective disaster response is conditioned by the availability of a variety of data stored in numerous international and national databases that can be used in real-time. In addition, decision-makers are forced to use a variety of information systems and tools that allow them to make quick and accurate calculations in order to make appropriate decisions in a particular situation. Guided by this, the authors, using the method of content analysis and literature review, identify, analyze and comprehensively systematize and describe the significant characteristics of such databases and information systems. The aim of this paper is the scientific description of information and logistics systems and databases that are important for disaster management. The scientific significance of the paper is reflected in the systematization of scientific knowledge about the advantages and disadvantages of using information systems and databases on disasters. In contrast, the social implications of the paper are reflected in informing competent services about the existence and possibilities of using information systems and databases in specific cases of disaster management. Keywords: security, disasters, management, databases, information systems, logistics systems. Poteškoće u procesu upravlјanja u katastrofama uslovlјene su delovanjem mnogobrojnih faktora kao što su složenost i velika brzina širenja štetnih dejstava opasnosti, nedostatak pravovremenih i tačnih informacija, komplikovanost donošenja klјučnih odluka, nemogućnost sagledavanja celokupne situacije u kratkom vremenskom periodu, složenost upravlјanja neophodnim resursima itd. Iz tih razloga, efikasno reagovanje na katastrofe je uslovlјeno dostupnošću različitih podataka koji su pothranjeni u mnogobrojnim međunarodnim i nacionalnim bazama podataka koje se mogu koristiti u realnom vremenu. Osim toga, donosioci odluka su prinuđeni da koriste različite informacione sisteme i alate koji im omogućavaju brze i tačne proračune u cilјu donošenja odgovarajućih odluka u konkretnoj situaciji. Rukovodeći se time, autori u radu primenom metode analize sadržaja i pregledom literature, identifikuju, analiziraju i sveobuhvatno sistematizuju i opisuju značajne karakteristike takvih baza i informacionih sistema. Cilј naučnog rada predstavlјa naučna deskripcija informaciono-logističkih sistema i baza podataka od značaja za upravlјanje u katastrofama. Naučni značaj rada ogleda se u sistematizaciji naučnih saznanja o prednostima i nedostacima korišćenja informacionih sistema i baza podataka o katastrofama. Nasuprot tome, društvene implikacije rada ogledaju se u informisanju nadležnih službi o postojanju i mogućnostima korišćenja informacionih sistema i baza podataka u konkretnim slučajevima upravlјanja u katastrofama. Klјučne reči: bezbednost, katastrofe, upravlјanje, baze podataka, informacioni sistemi, logistički sistemi.

2016 For companies where its capacity for effective governance has degraded slowly, but consistently over the course of a long chain of rhetorical excesses, guidelines corruptions, sentimental hyperbole and philosophical high-falutin…. They have basically abandoned traditional, well-designed and time-after-time tested project management tools and techniques in favor of distorted methods based on personal beliefs that challenge any existent fraud index to their core and by doing so they are inviting and finding contractual claim disputes on every corner of their business development.

The complex environments of today’s markets makes managing organizations in complexity and turbulence a concern for senior managers, and necessitate developing a dynamic strategic framework to cope with complexity in managing organizations. This paper demonstrates a study that was conducted to value a structured set of management principles and sub-elements by a panel of experts to develop a conceptual framework to manage in complex and very high dynamic environments. The panel consisted of 22 senior level managers of grade “A” companies in the construction industry in Qatar State using a two-round Delphi technique. The study developed two frameworks. The first framework is for managing complexity in the construction sector. The second one is the primary general framework, which forms a basis for a generalized framework for other industries. This study participates in developing valuable management practices in complex environments to tackle uncertainty, unpredictability, disorder, rapid changes and non-linearity, which would be of great help for leaders, senior managers and practitioners who operate in complex environments. Journal: Construction Management and Economics Volume 36, 2018 - Issue 4

The adage goes that, " you can't manage what you can't measure ". Furthermore, project teams cannot reasonably measure uncertainty if it is not clearly described. Additionally, the worthiness of an entire risk management program is in jeopardy if team members do not have faith that they are working to manage risks that matter. This paper proposes a three-step test that decision and risk management (DRM) practitioners can employ to verify risk relevance. This simple work process, focusing on authenticity, topicality and conformability, will help project teams overcome many of the pitfalls encountered when attempting to either perform realistic quantitative risk assessments, make risk-informed decisions or facilitate a long-term continuous risk management program.

Safety and security are major factors that need to be prioritised by any party in the building and construction industry. Various regulations are required to be maintained by the authority regarding safety. The topic of study was the causes of the safety and security accidents in the construction sector in Jordan. Dependent and independent variables aimed to understand the causes and factors responsible for accidents in the construction sector in Jordan. This research study is based on a quantitative research method where questionnaires were used to collect data from the respondents. Demographic questions are made to categorise the respondents accordingly. The data was analysed using the SPSS tool. The research results helped to understand the study topic regarding safety accidents and good practices in the construction sector in Jordan

Effective cost and risk management is critical to the
success of large infrastructure projects. Significant cost
overruns in major projects show that risk management is
not being given the importance it should have. In order
to be able to measure and control current cost and the
schedule against set targets, it is necessary to assess risks
in a transparent manner and to consider them appropriately.
The insight is not new – every reader will certainly
have heard this or similar statements. But why do we
get the impression that nothing changes and that we –
paraphrasing Einstein – do the same thing over and over
again and still expect different results?

Risk plays an important role in the success of construction project. In managing risk, identification of risk factors is very critical. Hence, this study focused on the investigation of risk factors from contractors’ perspective as the contractors are key players in the success of a project. The scope of this study was limited to Batu Pahat and Muar districts only. Data were gathered using structured questionnaire survey from contractors registered with Pusat Khidmat Kontraktor (PKK). Investigations on the risk factor involved 25 common risk factors classified in five categories, which were identified through literature works. Statistical methods were used to analyse the data. Results found that the five most important risk factors in construction project are shortage of material, late deliveries of material, insufficient technology, poor quality of workmanship, and cash flow difficulties. These significant factors are from two major categories of construction and finance. The findings of this study would assist contractors in dealing with risks encountered in construction projects.

Risk is a condition that can result failure of software project and loss in terms of cost and quality. Some controls used to reduce the Risk. These controls can be identified as anything that finds the cause and help to reduce the risk like risk analysis and risk assessment. During software development life cycle (SDLC), Risk Analysis and Risk Assessment accomplished to make software more effective and efficient. Risk Analysis is the process of identifying, assessing, and reducing risk to an acceptable level. It defines and control threats and vulnerabilities. Whereas, risk assessment determines existence of risk and it can focus to achieve the software project objectives and minimize the threats. Risk analysis and assessment reduce the reason responsible for the failure of software project. In this paper a review on some method and proper approaches of software risk assessment and risk analysis will be presented. Some significant points could be pondered to reduce threats and vulne...

In an interview with Project Magazine, Bent Flyvbjerg describes the challenges, causes, and cures of risk in major project management. Main challenges identified are benefit shortfalls, cost overruns, and schedule overruns. Root causes of risk are argued to be optimism bias and strategic misrepresentation. Finally, reference class forecasting and incentive alignment are presented as effective cures that will help major projects succeed.

Organizational success in software industry is completely dependent on accomplishment in terms of successful project delivery that results in client satisfaction associated with end user requirements. This victory can be sustained if the IT industry is able to cope up with all the challenges involved in software development targeted towards either product development or providing a service. One of the major challenges that can be listed as a key encounter in software development is Risk. Growth of an industry can take up well-defined criteria with respect to attainment of success if Risk management implements an efficient technique. This risk has to be measured foremost in terms of Cost, Time, People and Process (CTP2) to understand the impact of the same in the project. This paper aims to classify various Risks based on the impact analysis which is conducted in terms of CTP2. This mode of classification enables one to prioritize the risk in order to mitigate or deal with it effectively.

Purpose
International projects very commonly experience failure due to various factors at the global level. Especially, large projects at the international level virtually have no chance of meeting scope, time, cost and quality. This fact has been underlined by most of the international surveys and published literature. Effective risk management plays a vital role in preventing projects from failure by implementing appropriate risk response strategies. The success of risk management will be based on the understanding of various risk categories which specifically affect international projects, analysis of their interdependence, prioritize them according to their importance and develop strategies for risk management based on the prioritization. The paper aims to discuss these issues.

Design/methodology/approach
This paper represents typical eight risk categories frequently observed in the international projects through literature survey and feedback from project professionals. Interpretive structural modeling (ISM) and Matrice d’Impacts croises-multiplication applique´ an classment (MICMAC) analysis have been used to analyze the interactions among the risk categories and prioritize them. The strategy management tool threats, opportunities, weaknesses and strengths (TOWS) matrix has been used to develop the strategies for effective project risk management.

Findings
The analysis represents political risks, contractual and legal risks, cultural risks, and financial and economic risks as the highest priority risk categories, the mitigation of which should be paid the highest attention. The strengths-threats strategy has been applied to develop the strategies by identifying the various internal strengths of project organization to overcome the various threats caused by the eight risk categories observed in international projects.

Research limitations/implications
This paper tries to represent the prioritization of international project risk categories which are generic in nature. For any specific international project, the risk categories as well as their prioritization may be slightly varying. The tool used for prioritization; Interpretive structural modeling (ISM) is more suitable for few numbers of variables as it becomes complex as the number of variables increases. The strengths and threats considered for developing strategies using TOWS matrix are based on the feedback from project professionals and may vary according to the nature of project.

Originality/value
This paper uses ISM and MICMAC for risk prioritization in international projects and TOWS matrix for developing risk management strategies. This may trigger new opportunities for in-depth research in the risk management strategy development for international projects.

This paper seeks to investigate the concepts of risk management and its implications
for program management discipline. It highlights the distinctions of programs over
projects and discusses why programs are more risky. Further, based on relevant
descriptions and findings from respective literatures, we report a number of perceived
barriers en route for risk management implementation on ground; we also discuss the
reasons and rationales behind such infirmities. Dominant factors causingunderprivileged
risk management are classified into four prime categories: resource constraints,
contextual restrictions, learning imperfections and human limitations. An empirical
survey-based study conducted from Pakistan telecom professionals discovers that
monetary constraints, schedule compels, unstable organizational environment, lack of
executive’s commitment towards risk, and deficit of risk-aware culture are the topmost
barriers that impede the implementation of risk management in large-scale telecom
programs in the country. The concepts defined in the early parts of this study will enable
the practitioners to understand the program risk management subject in enhanced ways,
while the findings delineatedlater can equip the relevant stakeholders with better learning
of affairs prevalent in Pakistan telecom industry; this may also aid policy makers in
instigating corrective actions.

Risk and opportunity are present in the lives of people and organizations of all types and sizes, exposed to the influences and factors, internal and external, that interfere with the possibility and when both are trying to reach an objective.

The way organizations manage risks and opportunities varies according to their culture, processes, structure and strategies. However, based on the environment where they are working on and the established criteria for assessing the importance of risks and opportunities, they identify, analyze, evaluate, process, monitor and control risks and opportunities, thereby establishing a self-management process.

Odebrecht also has a risk and opportunity management process at work within the corporate and contracts level, in which there is a culture reasonably implemented for the stages of proposal preparation and contract terms negotiation. The final product of the process above is in general a risk matrix from which teams define insurances to be contracted and their coverage, the general contingency level (negative contingencies less positive contingencies) to be included in the offer, as well as the directives to be used during the contract negotiation stage.
However, the same cannot be said about the risk management process during implementation and progress of the project. Few are the contracts that identify new risks and opportunities or re-evaluate the earlier ones after contracting, by monitoring and controlling them, which certainly could minimize the occurrence of surprises, problems and crisis management and possibly improve the leverage on opportunities, increasing the likelihood of project success.

The objective of this paper is to propose a methodology to be applied for monitoring and control of risks and opportunities during the implementation of the projects, consistent with the Odebrecht culture, and with good risk and opportunities management practices.

Comune di Bardonecchia PRGC-Cronoprogramma degli interventi per l'utilizzazione delle aree di Classe IIIb2-IIIb3-IIIb4 Scheda N° 3 "S" parziale Melezet-Les Arnauds Rio Fosse Studio della dinamica valanghiva e sedimentaria del bacino del Rio Fosse

Özet
Krizler, örgütlerin önleme ve uyum mekanizmalarını yetersiz hale getirerek mevcut değerlerini, amaçlarını ve varsayımlarını tehdit eden ve bu tehditlere karşı acele cevap verilmesini zorunlu kılan, gerginlik verici durumlardır. Krizler ve önemli olaylar çoğu kez beklenmedik olaylar olarak tabir edilir ve güvenlik güçlerinin rutin görevleri dışında nadiren karşılaştıkları olaylardır. Gerek beklenme-dik oluşları gerekse önceden gerekli hazırlıkların yapılmamış olması gibi nedenlerle toplum içerisinde olumsuz etkileri olabilir ve iyi yönetilmediği takdirde toplum düzenini bozabileceğinden tamiri oldukça zordur ve uzun yıllar sürebilir. Toplumun huzur ve güvenliğini sağlamak için gece gündüz çalışan güvenlik güçlerinin, krizlerin hayatın bir gerçeği olduğunu ve herhangi bir zamanda herhangi bir yerde karşısına çıkabileceğini, bu sebeple günlük rutin görevlerle mücadele ederken beklenmedik olaylara da hazırlıklı olmaları gerektiğini akıllarından çıkarmamaları gerekmektedir. Bu çalışmada, kriz ve önemli olayların polis için ne demek olduğu, bir süreç olarak krizlerin nasıl yönetilmesi gerektiği, geleneksel krizlerin dışında modern ve gelecekteki krizlerin yönetiminin nasıl bir bakış açısıyla ele alınması gerektiği hususları irdelenecektir. Krizlerin olumsuz etkilerinin azaltılması konusunda farklı görüşler değerlendirilecek ve etkili bir liderlik yöne-timi ile krize girmiş veya kriz riski taşıyan örgütlerin en az hasarla krizden nasıl çıkabileceği hususu tartışılacaktır. Güvenlik hizmetlerinde, özellikle poliste, kriz yönetimi süreci değerlendirilecektir. Diğer taraftan, genellikle olumsuz bir kav-ram olarak görülse de iyi yönetildiğinde krizlerin örgütler için korkulacak bir durum olmaktan çıkabileceği, gerek toplum gerekse de kurum ve çalışanlar için bir fırsat olabileceği hususu tartışılacaktır.



ALINTILAMA ÖNERİSİ
Pamuk, Z. (2014), Kriz Yönetimi Stratejileri, Harmancı, F. M; Gözübenli, M. ve Zengin, C. (Ed.), "Güvenlik Sektöründe Temel Stratejiler" içinde (s.305-330). Nobel Yayınevi, ISBN:978-605-133-960-3

ALINTILAMA ÖNERİSİ
Pamuk, Z. (2014), Kriz Yönetimi Stratejileri, Harmancı, F. M; Gözübenli, M. ve Zengin, C. (Ed.), "Güvenlik Sektöründe Temel Stratejiler" içinde (s.305-330). Nobel Yayınevi, ISBN:978-605-133-960-3

Organizations who rely on the successful delivery of capital assets, need to set stretch goals that can help improve their capability and develop or maintain a competitive advantage. Dr. D. Hillson once likened the successful application of a maturity model to, " walking up the down escalator ". This paper will review a high-level QRAMM or Quantitative Risk Assessment Maturity Model that describes the full spectrum of capabilities including: reactive, ad-hoc, centralized, mature and optimized. The strategies and capabilities presented in this paper offer a Risk-based Kaizen approach, helping DRM practitioners identify performance gaps and develop plans for QRA capability improvement.

Project management is the application of knowledge, skills, tools and techniques to project activities to meet project requirements. Project management is also defining as the uses of the processes such as: initiating, planning, executing, monitoring and controlling and closing the work of a team to achieve specific goals and meet specific success criteria at the specified time. A project is a temporary endeavor designed to produce a unique product, service or result with a defined beginning and end. ]1[ Project planning is a part of project management, which relates to the use of schedules such as Gantt charts to plan and subsequently report within the project environment. Project management has been proven to be the most effective method of delivering products within cost, schedule, and resource constrains. it is used to ensure projects are completed on time and on budget while giving the user the product they expect. ]1[ The purpose of project management is to foresee or predict as many dangers and problems as possible; and to plan, organize and control activities so that the project is completed as successfully as possible in spite of all the risks.-The life cycle of project can be broken down into five distinct phases or process groups: 1. initiating. 2. Planning. 3. executing. 4. monitoring and controlling. 5. finishing.

Language Migration is a highly risky and complex process. Many authors have provided different ways to tackle down the problem, but it still not completely resolved, even-more it is considered almost impossible on many circumstances. Despite the approaches and solutions available, no work has been done on measuring the risks and complexity of a migration process based on the technological gap. In this article we contribute a first iteration on Language Migration complexity metrics, we apply and interpret metrics on an industrial project. We end the article with a discussion and proposing future works.

Lean Six Sigma Measure Phase Tollgate Templates are a guide to Lean Six Sigma Green Belt, Lean Six Sigma Black Belt, and Lean Six Sigma Master Black Belt Projects. Lean Six Sigma Practitioners use the DMAIC (Define, Measure, Analyze, Improve, and Control) Phases. The Lean Six Sigma Measure Phase Tollgate Templates include the most common tools used in the Measure Phase. There are Backup Slides that include the tools and templates of Optional or less often tools. There are guidelines in the notes section. These templates are used to document Lean Six Sigma Projects as they are executed. There are checklists and guides to ensure the Measure Phase is completed and approved before moving to the next process improvement phase. I wish you well on your projects. Steven Bonacorsi, Lean Six Sigma Master Black Belt.

BUS 375 Week 1 to 11 Strayer
BUS 375 Project Management
BUS 375 Assignment 1, MS Project Familiarization

BUS 375 Assignment 2, Project Proposal

BUS 375 Assignment 3, Greendale Stadium Case

BUS 375 Assignment 4, Project Schedule

BUS 375 Assignment 5, Performance Management

BUS 375 Exam

A copy of Journal published on RICS https://ww3.rics.org/uk/en/journals/construction-journal/how-to-manage-the-risk-of-construction-claims.html?cid=em|newsletter|in%20the%20spotlight:built%20environment%20and%20construction|all|apac:asia|journal|20/10/2021&deliveryName=DM29170

Merryn Stoyle

In my experience, claims arise for a number of reasons, including the following.

The contract specification or other key provisions – such as completion dates, any preconditions or other processes set out in the contract – have been badly thought out, are vague and open to interpretation, or are too impractical to be implemented.
The contractually agreed timescales for the execution of works are getting shorter, meaning that contracts or subcontracts are being let while the design is still under development.
Real or perceived access issues are caused by multiple parties working simultaneously at the site.
One or more parties did not read the subcontract or fully understand it, including both the general terms and the technical specification.
Parties have often cut costs to the minimum during the tender process, and seek to recover these by other means.
Businesses' commercial strategies often conflict with their own contractual obligations. In other words, the strategy to achieve planned profit margins conflicts with the provisions of the contract. This may be due to how the contract determines that variation orders, or similar, are to be valued, or it because the actual scope of the contract states that items are in the subcontractor’s scope, rather than variation orders.

ABSTRACT
The purpose of the study was To Examine the influence of knowledge, attitude and practice of Human Immunodeficiency Virus (HIV) prevention in Hola Hospital. The following objectives guided this research: to establish the level of knowledge of HIV/AIDS among various individuals served by Hola Hospital; to examine the attitudes of various individuals served by Hola Hospital towards HIV/AIDS; to identify sexual practices adopted by the various individuals served by Hola Hospital towards HIV/AIDS prevention; and to establish the extent to which HIV prevention practices are informed by knowledge and attitudes towards HIV/AIDS in Hola Hospital. This was a descriptive cross – sectional study. Data collection was conducted from September 218 to early November 2018. The target population of the study composed of 890 recorded patients (adults over 18 years) who sought various services from the Hola hospital during the study period and the ones who were affiliated to the VCT and HIV/AIDS management were given better priority. Based on the research findings and the literature reviewed, the researcher concluded that: Knowledge about HIV/AIDS influences its spread, control and management in the sub-county’s hospital; Attitudes towards HIV/AIDS in the county influence its spread, management and control in the study area significantly; and The various practices of HIV/AIDS control and management influence the spread, infections, management and control of the disease most. 

Key words: Knowledge, attitudes, practices, HIV/AIDS

MySQL 5.7 has been GA since October 2015. At the time of writing, it is still a very new
release. But more and more companies are looking into upgrading, as it has a list of
great new features. Schema changes can be performed with less downtime, with more
online configuration options. Multi-source and parallel replication improvements make
replication more flexible and scalable. Native support for JSON data type allows for
storage, search and manipulation of schema-less data. In addition, the granularity of the
scalability is more concise. An upgrade, however, is a complex process - no matter
which major MySQL version you are upgrading to. Upgrading to a new major version
involves risk, and it is important to plan the whole process carefully. In this document,
we’ll look at the important new changes in 5.7.

Studies show one of the reasons for the failure of the software projects is the absence of Risk Management or its improper application. The adoption of Agile Framework on software projects is increasing. However, the Agile does not have specific Risk Management activities. To minimize human efforts, a well-defined risk management model along with a supporting tool is required. The purpose of this paper is to review the risk management processes in traditional and agile method of project management. This paper highlights the underlying risk management model used in tools used for agile approach of project management. Software agents support in risk identification, analysis and monitoring & risk control. Based on the results, it can be concluded that to make changes in the project environment in a dynamic manner, to compensate the effects of risks, software agents first helps to detect the risks, in turn which minimizes the human effort to manage risks.

The mission of the International Journal of Risk and Contingency Management (IJRCM) is to discover what risk and uncertainty mean to different disciplines and industries. Risks are known in the sense they can be measured but it is the underlying uncertainty that remains elusive. Risk is present across industries and sectors (private, public, and non-profit). As a result, organizations and government around the world are currently experiencing higher levels of risk. At the other end of the spectrum from risk, contingency is the buffer against expected risk and uncertainty.  The journal provides an interdisciplinary approach to risk and contingency management, encouraging researchers and practitioners to provide best practices and a look into the future of this field.

The development of the web has made an incredible effect on our day by day lives. As of late, money related establishments worldwide have quickly moved from branch-based banking to online based administration conveyance changing the manner in which administrations are rendered to clients. Notwithstanding the sending of innovation driven administrations in the financial part, the selection of Internet banking particularly in creating nations, for example, Kenya is as yet an advancement. This paper means to investigate the elements that may impact or upset the acknowledgment of web banking in Kenya. An interpretive methodology was utilized to pick up a more profound understanding of the subject point. The discoveries demonstrate that security is the principle concerning factor that impacts clients' choice to receive internet banking administrations. Culture and religion were additionally observed to impact factors. A lot of proposals were given on how client reception of internet banking can be expanded among Kenya clients. This paper reasons that the banks should better deal with buyers' encounters to upgrade the utilization of web banking administrations by including a procedure of change and learning after some time, and not simply concentrating on the appropriation procedure itself.

Although risk assessment is probably the most difficult component of the Risk Management process, it is potentially the most useful. A critical review of the literature published on the topic over the last 27 years has revealed significant results, summarized as follows. Variants of Probability-Impact modeling are predominant; while traditionally the focus was on objective probability gradually subjective probability has become dominant. Risk analysis of project duration or cost is prevalent; the analysis of project performance risk is hardly mentioned in literature. Further, no risk assessment approach was discovered that deploys a common scale to simultaneously assess the alternative impacts of a risk on the various project objectives. Most of the existing approaches provide a risk rating; very few actually quantify risk. The limitations of the existing theories and tools indicate the need for improved alternatives. We conclude that the use of ‘risk cost’ as a common scale within a belief-based decision making framework would be an innovative solution, overcoming current shortcomings and generally improving construction risk assessment.

The delivery of any construction project faces risk and uncertainty. Contingencies cover residual risks and absorb both variability and uncertainty. The management of contingencies plays a key role in improving risk management and project performance. Background literature reports that construction companies usually set time and cost contingencies with the goal of protecting project objectives. It also states that construction companies identify and manage opportunities in order to enhance project performance. Likewise, despite the fact some companies maintain formal procedures to manage risk, contingencies are often defined in a subjective and non-systematic manner. Background literature presents several methods to improve the management of contingencies; however, it seems that many practitioners either do not know them or do not use them. Therefore, a sound characterization of how construction companies currently manage contingencies is required. The major goal of this research is to explore how construction companies currently manage contingencies. In order to do that, types of contingencies, major success factors, drivers, benefits and barriers faced by construction companies managing contingencies on construction projects are characterized. A survey (questionnaire) developed in two Spanish construction companies is described and its results are analyzed. This research aims to shape contingencies as a driver of process improvement in construction. Conclusions will help practitioners to deal with risk and uncertainty in construction projects.

Dear Colleague,

It is my great pleasure to invite you to participate in the 6th ICT Forum that will be held in October 14-16, 2014 in Nis, Serbia.
Additional information on the 6th ICT Forum is enclosed and can be found at the following website www.ictforum.rpkni.rs.

Marko Stosic