The purpose of the project is a study of how to develop a risk management tool for international projects within the engineering business of transport planning. The aim is to develop a tool that supports project managers when preparing proposals for international projects, as the focus in this stage of the project cycle is to prepare a competitive proposal that gives the client the best solution, the best experts and an advantageous price. The focus in this stage is seldom on analysing risks and pricing them and finally adding these to the financial proposal. The question is if it is possible to develop a tool that will lead to more successful projects with increased profit. Moreover, will the engineering business benefit from implementing the developed risk management tool. The project studies how the textbooks and articles handles risk management and the risk tools developed to analyse risks to be able to understand the process of risk management. The literature studies of risk management clarifies: › methods to identify risks › methods to assess the identified risks › methods to handle the most important risks Identification of risks focuses on both external risks and internal risks. The study of the two levels of risks is based on a broad literature study of relevant external and internal risks. These risks are narrowed into the most relevant risks and listed in a risk register. This risk register is used for interviews with project managers and other relevant staff in COWI to discuss risks and develop a risk register that is firm specific within the field of transport planning. When the risks are identified, the project managers will be able to assess the likeliness and consequence of the risks to occur on the project. The method to assess the risks is found in the textbooks and articles, and these methods has been studies to develop the most appropriate tool for COWI. The developed method has been discussed with the project managers to adapt the tool to fit the requirements of the managers. The tool gives a risk value, which should be incorporated in the final financial proposal as a risk contingency. The effect of the tool has been analysed based on a cost-benefit analysis and after that testing the results based on a sensitivity analysis. The conclusion is that the developed risk management tool can benefit on a project level giving increased profit. However, seen from a firm perspective this will lead to a lower hit rate on winning the projects and therefore a lower profit on a firm level. The focus on risk management can still lead to projects that are more successful, but with a cost.
|Educations||Graduate Diploma in International Business, (Diploma Programme) Final Thesis|
|Number of pages||98|