Quantitative Methods for Project Risk Management: A Literature Review

In a globalized world, organizations are constantly exposed to uncertainties. Therefore, risk management is important. To conduct the risk analysis in projects, six management processes are defined, according to the project management guide of the Project Management Institute, and the focus of this...

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Bibliographic Details
Main Authors: Cássio Pereira de Paula, Gabrielly Araújo Cordeiro, Izabela Simon Rampasso, Robert Eduardo Cooper Ordóñez, Rosley Anholon
Format: Article
Language:English
Published: Universidade Estadual Paulista 2019-06-01
Series:GEPROS: Gestão da Produção, Operações e Sistemas
Subjects:
Online Access:https://revista.feb.unesp.br/index.php/gepros/editor/submission/2210
Description
Summary:In a globalized world, organizations are constantly exposed to uncertainties. Therefore, risk management is important. To conduct the risk analysis in projects, six management processes are defined, according to the project management guide of the Project Management Institute, and the focus of this work is the study of the quantitative evaluation process. Through a literature review, we aimed to understand the techniques of quantitative analysis of the risks in projects. It was noted that every application requires major investment, whether it be for computational purposes, or for financial or human knowledge, making the use of this management process in smaller projects almost unfeasible. In the 33 articles analyzed, 8 quantitative methods for risk analysis in project management were collected. The results of this research can be used both by researchers, for future research, and by market professionals, to analyze the tool that best suits their needs.
ISSN:1984-2430