The University of Southampton
University of Southampton Institutional Repository

Systemic risk assessment: a case study

Systemic risk assessment: a case study
Systemic risk assessment: a case study
Project Risk Registers have been used extensively for many years. However, they do not account for the interaction between risks. For example the occurrence of one risk exacerbating
other risks or portfolios of risks being more significant than the sum of the individual risks. This leads to the need to consider ‘risk systemicity’ as a part of risk analysis. This paper reports on a specific case for a large multi-national project based organisation, one that the authors had been
involved with in the analysis of a number of projects that had massive cost overruns. Following these analyses the organization was persuaded of the importance of risk systemicity. The organization therefore engaged the authors to develop a ‘Risk Filter’. This filter is a tool for identifying areas of risk exposure on future projects and creating a framework for their investigation. The ‘Risk Filter’ is now used on all projects since its introduction; by the end of May 2003 it had been used by 9 divisions, on over 60 major projects, and completed by 450 respondents. It is also used at several stages during the life of a project to aid in the risk assessment and management of each project and contributes to a project database.
1356-3548
CRR-07-11
University of Southampton
Ackermann, F.
7ce0f19d-cd96-4409-83ee-6f3a33aa2060
Eden, C.
4f164641-eb13-441b-865d-1d004d8e1ed4
Williams, T.
e7b46ae7-6c0c-45a7-a4c4-bd88597f6db4
Howick, S.
82f5e59a-e8b2-4b09-ad98-10ecd0a37d38
Ackermann, F.
7ce0f19d-cd96-4409-83ee-6f3a33aa2060
Eden, C.
4f164641-eb13-441b-865d-1d004d8e1ed4
Williams, T.
e7b46ae7-6c0c-45a7-a4c4-bd88597f6db4
Howick, S.
82f5e59a-e8b2-4b09-ad98-10ecd0a37d38

Ackermann, F., Eden, C., Williams, T. and Howick, S. (2007) Systemic risk assessment: a case study (University of Southampton Discussion Paper Series: Centre for Risk Research, CRR-07-11) Southampton, UK. University of Southampton 35pp.

Record type: Monograph (Discussion Paper)

Abstract

Project Risk Registers have been used extensively for many years. However, they do not account for the interaction between risks. For example the occurrence of one risk exacerbating
other risks or portfolios of risks being more significant than the sum of the individual risks. This leads to the need to consider ‘risk systemicity’ as a part of risk analysis. This paper reports on a specific case for a large multi-national project based organisation, one that the authors had been
involved with in the analysis of a number of projects that had massive cost overruns. Following these analyses the organization was persuaded of the importance of risk systemicity. The organization therefore engaged the authors to develop a ‘Risk Filter’. This filter is a tool for identifying areas of risk exposure on future projects and creating a framework for their investigation. The ‘Risk Filter’ is now used on all projects since its introduction; by the end of May 2003 it had been used by 9 divisions, on over 60 major projects, and completed by 450 respondents. It is also used at several stages during the life of a project to aid in the risk assessment and management of each project and contributes to a project database.

Full text not available from this repository.

More information

Published date: 2007

Identifiers

Local EPrints ID: 58528
URI: https://eprints.soton.ac.uk/id/eprint/58528
ISSN: 1356-3548
PURE UUID: 5533a157-6891-4ccd-9c3e-184aa3024dfe

Catalogue record

Date deposited: 15 Aug 2008
Last modified: 26 Feb 2019 17:30

Export record

Download statistics

Downloads from ePrints over the past year. Other digital versions may also be available to download e.g. from the publisher's website.

View more statistics

Atom RSS 1.0 RSS 2.0

Contact ePrints Soton: eprints@soton.ac.uk

ePrints Soton supports OAI 2.0 with a base URL of https://eprints.soton.ac.uk/cgi/oai2

This repository has been built using EPrints software, developed at the University of Southampton, but available to everyone to use.

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive cookies on the University of Southampton website.

×