Project Risk Management: : A Case Study in Contingencies

Abstract: The recent increase in international projects has resulted in higher risk along with difficulties in control and coordination. Effective project management can therefore be seen as being essential to the success of projects. The purpose of this paper is to understand how a large multinational company currently handles these issues. This paper conducts a case study that will look at the relationship between contingencies and their effects on project risk management. The findings show that although project risk management handles contingencies in standard projects it still requires improvement within complex projects. Therefore, based on research into agile project management a concept is proposed as an alternative for the case company to select project management method.