from the Perspective of Process Approach
FEATURED PAPER
By Roman Titarenko
International Business School Suzhou,
Xi’an Jiaotong-Liverpool University
Suzhou, China
Abstract
Lately projects have demonstrated an increase in diversity and complexity, which makes effective risk management obligatory to carry out projects successfully. But doing so might prove to be difficult, because organizations tend to face unique challenges that require adequate solutions. This paper made progress towards finding such challenges by studying survey responses from 51 managerial/senior-level staff on a list of open-ended questions related to the project risk management processes. Data analysis was done based on process approach with the application of systematic coding. The research allowed us to conclude that managing projects brings challenges that can be inspected through the lens of project risk management processes such as risk management planning, risk identification, performing risk analysis, risk response planning, risk response implementation, and risk monitoring. The study made it possible for us to discover a set of project risk management challenges, come to a definition of their origins and effects, and develop possible countermeasures. Implications and recommendations for future research are suggested
Keywords: Project risk management, Challenges, Process approach.
1. Introduction
The last years have shown a considerable growth of attention paid to project management. Project management appears to be developing further, and this idea is supported by the increasing importance of project work in the global economy (Harvey & Aubry, 2018). Nonetheless, the majority of researchers share an opinion that managing projects is a complicated and challenging task (e.g., Amer, 2020; Kahvandi et al., 2018; Niederman et al., 2018). Project managers are expected to overcome a variety of challenges every day, and these challenges appear to be common among different projects despite of their specifics (Walkowska, 2020). Although new studies on the topic are published every year, attention paid to project management challenges appears to be below necessary.
Mossalam (2018) said, that the probability of a project being carried out without facing roadblocks during its lifecycle from the concept and until closure is negligible. This put the topic of “project issue management” under the spotlight, but it was not the case in the literature, the project management standards or use in practice.
The hardest challenge lies in the uncertainty of the specific time and the way risks are going to appear (Sachan et al., 2016). The considerable level of uncertainty is what makes it unachievable for managers to predict possible risks (unknow unknowns) and eliminate the problems that concern teams, level of motivation, and organization of work (Raydugin, 2014).
The professional expertise is in demand, and it seems to be rising continuously. This tendency has appeared due to environmental processes that are becoming more and more complicated around the world, and the ways various organizations function together with developing problems in the process of project execution (Bukłaha et al., 2016).
Projects of all types are exposed to risks and uncertainty because of the high-speed changes in the external environment of organizations. This also is the reason why stakeholders understand the importance of application of project risk management to evade legal or financial repercussions. Developing an effective risk management framework is crucial for any project organization (Doval, 2019; Fang & Marle, 2012). Risk management must be done successfully in any project to avoid making a compromise on the several constraints of scope, cost, schedule, and quality (Yazid et al., 2014).
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How to cite this paper: Titarenko, R. (2025). Analysis of Project Risk Management Challenges from the Perspective of Process Approach, featured paper, PM World Journal, Vol. XIV, Issue IX, September. Available online at https://pmworldlibrary.net/wp-content/uploads/2025/09/pmwj156-Sep2025-Titarenko-Project-Risk-Management-Challenges-featured-paper.pdf
About the Author
Dr. Roman Titarenko
Suzhou, China
Dr. Roman Titarenko is an Associate Professor of Practice at International Business School Suzhou, Xi’an Jiaotong-Liverpool University. He worked extensively in the project management industry before pursuing a career in education. Roman has got a significant working experience as a project manager and a business development director for international companies and private institutions operating in Russia – e.g., Coca-Cola Hellenic, The Stockholm School of Economics as well as Russian companies operating internationally.
He obtained his PhD degree from Russian State University of Management in 2001 where he conducted research related to the development of the conceptual model of the project management certification program. It greatly contributed to the creation of the project management certification system in Russia (IPMA-SOVNET certification).
From 2009 until joining XJTLU, Roman worked as an Associate Professor at some Russian universities, such as Russian State Social University and Plekhanov Russian University of Economics. He also gave lectures as a Visiting Professor at La Rochelle Business School (Excelia Group, France) and Cracow University of Economics (Poland). He is a certified project manager (IPMA Level C) by International Project Management Association.
His research interests lie primarily in project management, risk management, and strategic management. He can be contacted at Roman.Titarenko@xjtlu.edu.cn
