Chapter 20 - Conclusions
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Questions and Answers

What has led to more competitive business conditions?

  • Privatization as a government policy (correct)
  • More extensive regulatory regimes
  • Increasing attention to psychological aspects of risk
  • Global financial crisis of 2008

    • What has contributed to exposing poor risk management practices in the corporate world?

  • Global financial crisis of 2008 (correct)
  • More extensive regulatory regimes
  • Increasing attention to psychological aspects of risk
  • Privatization as a government policy

    • What has resulted in more focused public policy development in the area of risk management?

  • Increased public expectations of good risk management (correct)
  • Trend towards bigger projects
  • Privatization as a government policy
  • Global financial crisis of 2008

    • What has implications in terms of the greater consequences of any failure in projects?

    <p>Trend towards bigger and bigger projects</p> Signup and view all the answers

    What has led to more extensive regulatory regimes?

    <p>Public expectations of good risk management</p> Signup and view all the answers

    What has been paid increasing attention to in the context of risk?

    <p>Psychological cognitive, affective, and behavioral aspects of risk</p> Signup and view all the answers

    What has resulted in more serious risk impacts and consequences?

    <p>Trend towards bigger and bigger projects</p> Signup and view all the answers

    What has driven the more focused public policy development in risk management?

    <p>Public expectations of good risk management</p> Signup and view all the answers

    What has led to more competitive business conditions?

    <p>Privatization as a government policy</p> Signup and view all the answers

    What has implications in terms of the greater consequences of any failure in projects?

    <p>Trend towards bigger and bigger projects</p> Signup and view all the answers

    What has contributed to exposing poor risk management practices in the corporate world?

    <p>Global financial crisis of 2008</p> Signup and view all the answers

    What has been the shift in tertiary curricula regarding risk and risk management?

    <p>Incorporating courses from postgraduate to undergraduate degrees</p> Signup and view all the answers

    What is a concern associated with the over-reliance on 'black box' techniques in risk management?

    <p>Excessive 'copy and paste' entry of risk information</p> Signup and view all the answers

    What is the future of risk management focused on according to the text?

    <p>Leadership and management</p> Signup and view all the answers

    What is likely to drive the growth in the extent of project risk management application?

    <p>Persuasive arguments of a sound business case</p> Signup and view all the answers

    What technique is likely to be developed for auto-detection of project risks?

    <p>Relational databases associated with computerized project management systems</p> Signup and view all the answers

    What is a concern associated with the outputs of risk-based models?

    <p>Not sufficiently understood</p> Signup and view all the answers

    What is the shift in course delivery in tertiary curricula regarding risk and risk management?

    <p>Widened from narrow mathematically based engineering to management and sociology degree programmes</p> Signup and view all the answers

    What is observable regarding the continuing commitment to the PRMS?

    <p>Lack of continuing commitment (system decay)</p> Signup and view all the answers

    What is the future project risk management likely to include for detection of project risks?

    <p>Virtual reality simulation techniques harnessed to AI algorithms</p> Signup and view all the answers

    What is a concern associated with the system misuse in risk management?

    <p>Excessive ‘copy and paste’ entry of risk information</p> Signup and view all the answers

    What is the over‐reliance on in contemporary PRMSs according to the text?

    <p>‘Black box’ techniques</p> Signup and view all the answers

    What is the future of risk management focused on according to the text?

    <p>Leadership and management</p> Signup and view all the answers

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