Interrelationship Between Industrial Project Risk And Its Characteristics: A Study Based On Structural Model (sm)

Shwetank Parihar; ChandanBhar

Shwetank Parihar Research Scholar, Department of Management Studies, IIT Indian School of Mines, Dhanbad – 826004
ChandanBhar Professor, Department of Management Studies, IIT Indian School of Mines, Dhanbad – 826004

Keywords: Project Management; Project Risk analysis; SM (Structural Modeling) via AMOS; Electrical Transmission line installation project.

Abstract

The paper presents a methodology which traces the interrelationship between the project risk and project
characteristics, it studies the risk factors and the factors that define project characteristics by the help of
literature survey and expert discussion.A mathematical relationship is also developed that includes the
effect of risk mitigation on a particular risk. The risk factor when analyzed with both the probability of
occurrence and effect of mitigation gives the impact value for that risk. Then we have developed a model in
AMOS software for analyzing the effect of risk factors and project characteristic factors on each other, the
high value of estimate in between the two proves their interrelated