Effective Risk Management Strategies for Large-Scale Projects
DOI:
https://doi.org/10.36676/irt.v9.i1.1477Keywords:
Risk management, large-scale projects, risk assessment, risk mitigation, project management, stakeholder management, artificial intelligenceAbstract
The research paper highlights critical issues in managing risks in large projects, tightening modern project managers' and stakeholders' knots in their work. The paper also discusses risk assessment, management, and monitoring tools for technical, financial, operational, and environmental threats. Based on evaluating current risk management frameworks and pinpointing the tendencies associated with using technology solutions and artificial intelligence in the risk management processes, this paper will serve as a practical guide for designing comprehensive risk management strategies and promoting a risk-aware culture in organisations. The implications of the results are related to stakeholder management, sustainability, and flexibility during the execution of large-scale project risks.
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