As regards RQ1, the quality criteria applied to select the articles were:
1. A focus on project risk
2. Addresses real projects, case studies – not a theoretical discussion
3. Relates to risk, uncertainty or failure or risk analysis/risk register
The studies which clearly fulfill all of the three quality criteria were graded ‘A’ (Table II). An analysis of this literature suggests that one defining characteristic of 'risk as a subjective construct' is the way risks are identified. The identification of risk as a subjective phenomenon coincides with its creation – the risk exists only once the stakeholder has identified it. This is particularly noticeable for risks linked to an organization’s own qualities and deficiencies. Such risks show a significant limitation compared with traditional risk analysis based on external threats and probabilistic consequences. One further characteristic seems to be that risks apparently not identified by the existing project management systems are the ones originated by the organizational pathogens or organizational latent conditions. These are causes of failure, are created by actors, and often occur after a prolonged period, becoming evident or problematic after an adverse event occurs. Such conditions are the result of the individual’s subjective interpretation (example: ring-fencing of funds for particular task against other tasks, investment flexibility becomes limited, and is then followed by unforeseen calls for other tasks). One stakeholder’s pathogen is another stakeholder’s protection. These constructions may move from protection to pathogen in the project life cycle. Such different constructs engender discrepancies during project development. Failure may not affect all stakeholders. Organizational pathogens can be better treated as subjective interpretations [15].
As regards RQ1, the quality criteria applied to select the articles were:
1. A focus on project risk
2. Addresses real projects, case studies – not a theoretical discussion
3. Relates to risk, uncertainty or failure or risk analysis/risk register
The studies which clearly fulfill all of the three quality criteria were graded ‘A’ (Table II). An analysis of this literature suggests that one defining characteristic of 'risk as a subjective construct' is the way risks are identified. The identification of risk as a subjective phenomenon coincides with its creation – the risk exists only once the stakeholder has identified it. This is particularly noticeable for risks linked to an organization’s own qualities and deficiencies. Such risks show a significant limitation compared with traditional risk analysis based on external threats and probabilistic consequences. One further characteristic seems to be that risks apparently not identified by the existing project management systems are the ones originated by the organizational pathogens or organizational latent conditions. These are causes of failure, are created by actors, and often occur after a prolonged period, becoming evident or problematic after an adverse event occurs. Such conditions are the result of the individual’s subjective interpretation (example: ring-fencing of funds for particular task against other tasks, investment flexibility becomes limited, and is then followed by unforeseen calls for other tasks). One stakeholder’s pathogen is another stakeholder’s protection. These constructions may move from protection to pathogen in the project life cycle. Such different constructs engender discrepancies during project development. Failure may not affect all stakeholders. Organizational pathogens can be better treated as subjective interpretations [15].
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