Enterprise risk management has never been more widespread and popular worldwide th-an in these years, but still risk management standards has never been more single minded (Power 2009). The grand claim is that risk management enables a systematic and effective process of identifying, analyzing and responding for example to project risks thereby creat-ing value (COSO 2004; PMI 2000). In this master thesis it is questioned whether this claim perhaps is based on too narrow a conception of risk management which fails to grasp the sometimes incomplete practices due to the complex and dynamic relations between actors actually involved in conducting risk management. In order to explore these mechanisms this thesis draws upon actor-network theory and the notions of translation together with the framing-overflowing duo, which allows me to reconstruct and follow the risk management programme in terms of its actors and their ac-tions (Callon 1986; 1998). An empirical based case study of risk management in the public sector is conducted by examining the joint state risk management programme at the Signal-ling Project. This thesis is substantially based on semi-structured interviews, observation studies and text analysis regarding risk management with the main purpose of sorting out the flow of event and actions as well as to understand what effects risk management gene-rates and how stable risk management is as a value creation mechanism. It is concluded that risk management by the actors is considered stable and reliable as a project management tool to increase the probability and impact of positive events and de-crease the probability and impact of events adverse to the project even though some of the project managers do show concern about the ability to estimate risks. As this master thesis shows the risk practices developed are not based on comprehensible statistical datasets to calculate the risks since they are not at all possible to generate. The risk practices thereby solely depend upon the project managers’ ability to conduct this estimation based on their personal experiences. In this regard project managers do feel that identifying and assessing risks longer than one year ahead is problematic since the project managers themselves do not feel they can comprehend risks further into the future. However, these concerns have not been enough to create any kind of instability to the risk management practices.
|Educations||MSc in Auditing, (Graduate Programme) Final Thesis|
|Number of pages||90|