A new maturity model for project risk management in the automotive industry

Irizar, Jose and Wynn, Martin G ORCID: 2208-1959-2208-1959 (2018) A new maturity model for project risk management in the automotive industry. International Journal of Risk and Contingency Management, 7 (3). pp. 53-72. ISSN 2160-9624

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Abstract

Purpose: The purpose of this article is to present a new maturity model for the assessment and on-going management of project risk management capability in the automotive industry. Design/methodology/approach: The research design is based on a multi-project case study analysis in a major German automotive company. The approach is qualitative and inductive, using 12 in-depth interviews with major stakeholders in the project management function in the company to provide data for the construction of the initial maturity model. This model is then verified and refined via an on-line survey and three follow-up interviews. Findings: The findings provide material for the construction of a new maturity model that can be used for the assessment of project risk management capability and as a tool for on-going monitoring and improvement. The model is structured around four dimensions of risk management – identification, assessment, allocation and appetite – and has four maturity stages – rudimentary, intermediate, standardised and corporate. Research limitations/implications: The model is based on a detailed analysis of in-depth interview material in a specific industry sector. It can be used as a basis for similar research in other industries. Originality/value: The model adds to existing risk management maturity models and is unique in being specific to the automotive industry. It can be used by risk and project managers, and can also be adapted to other industry sectors. Keywords – risk management; project risk management; centricity; risk identification and assessment; risk ownership and appetite; maturity model; centricity. Paper type: Research paper.

Item Type: Article
Article Type: Article
Subjects: T Technology > T Technology (General)
Divisions: Schools and Research Institutes > School of Business and Technology
Research Priority Areas: Applied Business & Technology
Depositing User: Martin Wynn
Date Deposited: 05 Mar 2018 16:25
Last Modified: 17 Nov 2018 09:39
URI: http://eprints.glos.ac.uk/id/eprint/5460

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