THE PARADOX OF RISK MANAGEMENT
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The Paradox of Risk Management; A Project Management Practice Perspective
Journal Article Review
University of the Cumberlands
BADM 634 – Project Management: Initiating the Project
Date: February 28, 2016
THE PARADOX OF RISK MANAGEMENT
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Introduction
This paper investigates the relationship between risk management, uncertainty and the
contextual variability of risk management practice. Besner and Hobbs empirically measure the
relationship between the extent of use of risk management and the level of project uncertainty.
While clarifying the concepts of uncertainty, risk and risk management, the authors remind us
that the current project management paradigm is solely oriented towards reducing uncertainty.
But project management in highly uncertain context may need new flexible approaches to
supplement the current paradigm.
Summary of the Article
