Interrelationship Between Industrial Project Risk And Its Characteristics: A Study Based On Structural Model (sm)

Shwetank Parihar; Chandan Bhar

doi:10.21844/smsjei.v5i1.15138

Shwetank Parihar Research Scholar, Department of Management Studies, IIT Indian School of Mines, Dhanbad – 826004
Chandan Bhar Professor, Department of Management Studies, IIT Indian School of Mines, Dhanbad – 826004

DOI: https://doi.org/10.21844/smsjei.v5i1.15138

Keywords: Project Management; Project Risk analysis; SM (Structural Modeling) via AMOS; Electrical Transmission line installation project

Abstract

The paper presents a methodology which traces the interrelationship between the project risk and project characteristics, it studies the risk factors and the factors that define project characteristics by the help of literature survey and expert discussion.Amathematical relationship is also developed that includes the effect of risk mitigation on a particular risk. The risk factor when analyzed with both the probability of occurrence and effect of mitigation gives the impact value for that risk. Then we have developed a model in AMOS software for analyzing the effect of risk factors and project characteristic factors on each other, the high value of estimate in between the two proves their interrelated.