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Risk management in research and development (R&D) projects: the case of South Australia

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journal contribution
posted on 2014-01-01, 00:00 authored by R Luppino, M. Reza Hosseini, R Rameezdeen
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.

History

Journal

Asian academy of management journal

Volume

19

Issue

2

Pagination

67 - 85

Publisher

Penerbit Universiti Sains Malaysia

Location

Pinang, Malaysia

ISSN

1394-2603

eISSN

1985-8280

Language

eng

Publication classification

C1.1 Refereed article in a scholarly journal; C Journal article

Copyright notice

2014, Asian Academy of Management and Penerbit Universiti Sains Malaysia

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