This study explores theconcepts ofmanageability and controllability of project risk, from academic and managerial perspectives. It aims to understand the managerial perception of these concepts, distinguish the differences between them from academic and managerial perspectives and also recommend useful definitions of the concepts. This study begins by examining academic perspectives of manageability and controllability by reviewing the existing literature relating to these concepts. Subsequently, in order to capture the managerial perception, a semistructured interview is conducted with four participants from three different project areas, namely IT, energy and business improvement. The results of the interviews are then analysed and interpreted using NVIVO software, and validated by the participants to confirm the consistency and accuracy of the data collected. Three main findings are presented in this study. First, from a managerial perspective, most of participants perceive that the concept of manageability is related to the management process, structure and system, such as identifying and understanding project risk; on the other hand, the concept of controllability is perceived as being related to controlling the output of processes by addressing risk. Second, the differences between managerial and academic perspectives in relation to controllability reside in the activity conducted and the decision making process, whilst the differences between these perspectives in terms of manageability relate to the activity conducted and the advantage of information.Third, this study also recommends useful definitions for both manageability and controllability, whereby manageability is defined as the capability of an internal and external project team to select and utilise information important for identifying and understanding project risk in order to reduce risk and increase opportunity within a project, and controllability is defined as the ability of the project team to monitor and control the output of the project risk management process through effective communication.
|Date of Award||1 Dec 2014|
- University Of Strathclyde