Project Risk Management

Risk Culture and Risk Attitude can influence the outcome of risk management. How does
risk attitude influence risk culture or vice versa? Explain why the need to build a good
Risk Culture with your project team. What does a good risk culture look like?

Abstract:
“Everyone knows that culture is important—but why? What about risk culture? What
should you do if your project or organisation takes too much risk – or too little? … Culture
arises from repeated Behaviour – if we do the same things repeatedly we will develop a
shared approach to “how we do things around here.” But behaviour is based on our
underlying Attitudes – how we think shapes our actions.” Hillson (2013).

Assignment Task: To answer the above questions, this is done by:
• Reading and reviewing the literatures provided as a starting point but not limiting
yourself to these sources of information.
• To assist you in your research, you can collaborate in discussing your research
with your study team but the report is an individual submission in report format
using the VU Harvard AGPS style.
• You have to identify three other relevant articles to support your review and your
conclusion.
• The word count – unspecified, as many as necessary for completeness of your
report.
• Report Due: Week 8

Report Structure:
The report should include the followings:
• Cover page
• Executive summary
• Table of Content
• Introduction
• Body of report
• Conclusion

EPM5740 Project Risk Management Week 7 Literature Review_LHT
Reference:
1. Hillson, D. 2013, The A-B-C of risk culture: how to be risk-mature, proceedings of
PMI® Global Congress 2013—North America, viewed 28 Mar 2018, <

https://www.pmi.org/learning/library/understanding-risk-culture-management-
5922 >

2. Richardson, P & Fenech, J 2012, Risk culture: under the microscope guidance for
boards, Institute of Risk Management, London, UK.
Available in e-format:
https://www.theirm.org/media/885907/Risk_Culture_A5_WEB15_Oct_2012.pdf

https://www.theirm.org/knowledge-and-resources/thought-leadership/risk-
culture.aspx

3. Bakker, K. & Somani, S. 2006, Establishing cultural influences on risk
management, proceedings of PMI® Global Congress 2006—EMEA, Madrid, Spain

viewed 28 Mar 2018 < https://www.pmi.org/learning/library/establishing-cultural-
influences-risk-management-8193 >

4. Deloitte , Cultivating a Risk Intelligent Culture: understand, measure, strengthen,
and report, Deloitte Luxembourg, viewed 28 Mar 2018, <
https://www2.deloitte.com/content/dam/Deloitte/lu/Documents/risk/lu_en_wp_riski
ntelligentculture_01082012.pdf

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