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  • Although there are a number of risk management standards and guides available to a large number of industries and specialized professions, many engineering project and program managers continue to struggle with cost and schedule overruns, and fail to meet stakeholder and customer expectations. The authors of this paper cite research demonstrating that disagreement and confusion exist on risk management methodology and best practices among the professional project management organizations. Illustrating the need for a more cohesive approach, the paper proposes a strategic alliance among engineering project management organizations to clearly define and identify risk management best practices and methodologies, use uniform language and terminology, and continue to research improved methods of practicing risk management.
  • Although there are a number of risk management standards and guides available to a large number of industries and specialized professions, many engineering project and program managers continue to struggle with cost and schedule overruns, and fail to meet stakeholder and customer expectations. The authors of this paper cite research demonstrating that disagreement and confusion exist on risk management methodology and best practices among the professional project management organizations. Illustrating the need for a more cohesive approach, the paper proposes a strategic alliance among engineering project management organizations to clearly define and identify risk management best practices and methodologies, use uniform language and terminology, and continue to research improved methods of practicing risk management.
 
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