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Indeed, common practices can sometimes divert attention away from the key risks to less important ones.

Understanding comes from looking at the lived experience of projects (Cicmil, Williams, Thomas, & Hodgson, 2006) along the lines of Blomquist, Hällgren, Nilsson, and Söderholm's (2010) project-as-practice research.

Risks set up causal chains, often involving human motivational reactions to events and decision making by the project parties.

The problems are significantly exacerbated when these chains lead to positive feedback loops.

A second team at Strathclyde University (of which this author was a member) started with the Channel Tunnel “Shuttle Wagons” project (Ackermann, Eden, & Williams, 1997) by using mapping to structure causality and providing an interface with System Dynamics quantitative modeling (Howick, Eden, Ackermann, & Williams, 2008). In this environment of complex projects, how are risks identified and managed in practice?

A review of this body of work (Williams, 2005) and its implications showed not only that project behavior could be explained by systemic inter-related sets of causal factors rather than linking effects to single causes but, specifically, behavior (resulting from the dynamics set up) that turned into positive feedback loops, or ‘vicious circles.’ This positive feedback can cause significant over-spends and “runaway.” The Shuttle Wagons project, for example, had a specific major change following a fire, and continuous (multiple, small) approval delays, leading to a structure such as that shown in Figure 1. We use the term “risk” here in the typical sense as relating to any uncertainty that has an effect on a project.

These, in turn, mean that more work needs to be done without the necessary surrounding engineering information completed and frozen. Second, risks might include “good” opportunities as well as downside risks.

There has been recognition in the literature that risks can be inter-related. Unauthorized reproduction of this material is strictly prohibited.This article will look at the idea of systemicity in complex projects to identify the issue and will review the current risk management thinking and practice to identify the gap. Managing risk and uncertainty on projects: A cognitive approach. There he continued research/consultancy modeling the behavior of major projects, both pre- and post-project, and was with a team supporting over US

There has been recognition in the literature that risks can be inter-related. Unauthorized reproduction of this material is strictly prohibited.

This article will look at the idea of systemicity in complex projects to identify the issue and will review the current risk management thinking and practice to identify the gap. Managing risk and uncertainty on projects: A cognitive approach. There he continued research/consultancy modeling the behavior of major projects, both pre- and post-project, and was with a team supporting over US$1.5 billion post-project delay and disruption claims.

It will then follow Geraldi et al.'s article to look at the implications of complexity, and how unexpected risks can become more significant within a project. Terry joined Southampton University in 2005, becoming Director of the School of Management, then joined Hull University Business School as Dean in 2011; he recently stepped down to set up a Risk Institute concentrating on consulting and research.

Building new capital assets, carrying out unique large-scale enterprises, or developing new technological products, all require major projects to be undertaken. We use the well-known Simon (1982) description of a complex system being one in which the behavior of the whole is difficult to deduce from understanding the inputs to the system.

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There has been recognition in the literature that risks can be inter-related. Unauthorized reproduction of this material is strictly prohibited.This article will look at the idea of systemicity in complex projects to identify the issue and will review the current risk management thinking and practice to identify the gap. Managing risk and uncertainty on projects: A cognitive approach. There he continued research/consultancy modeling the behavior of major projects, both pre- and post-project, and was with a team supporting over US$1.5 billion post-project delay and disruption claims.It will then follow Geraldi et al.'s article to look at the implications of complexity, and how unexpected risks can become more significant within a project. Terry joined Southampton University in 2005, becoming Director of the School of Management, then joined Hull University Business School as Dean in 2011; he recently stepped down to set up a Risk Institute concentrating on consulting and research.Building new capital assets, carrying out unique large-scale enterprises, or developing new technological products, all require major projects to be undertaken. We use the well-known Simon (1982) description of a complex system being one in which the behavior of the whole is difficult to deduce from understanding the inputs to the system.

.5 billion post-project delay and disruption claims.It will then follow Geraldi et al.'s article to look at the implications of complexity, and how unexpected risks can become more significant within a project. Terry joined Southampton University in 2005, becoming Director of the School of Management, then joined Hull University Business School as Dean in 2011; he recently stepped down to set up a Risk Institute concentrating on consulting and research.Building new capital assets, carrying out unique large-scale enterprises, or developing new technological products, all require major projects to be undertaken. We use the well-known Simon (1982) description of a complex system being one in which the behavior of the whole is difficult to deduce from understanding the inputs to the system.

The benefits of projectization and a good approach to project management can clearly be seen in many ways: these include motivation, satisfaction, and giving meaning to the work of individuals and teams (Thomas & Mullaly, 2008). Thus, in a complex project, understanding what is likely to impact the project does not lead simply to an understanding of what that impact might be.

However, the reputation of project management with most people is that it is generally unsuccessful, with projects being late, overspent, and often not technically successful. We therefore use a structured approach to project complexity to help identify where the risks are occurring.