Using project risk management process in investment appraisal

Abstract

In this paper five widely used approaches of project risk management will be presented and compared: the Australian and New Zealand AS/NZS 4360 standard, Project Management Institute's Project Management Body of Knowledge (PMBOK), UK Association for Project Management Project Risk Analysis and Management (PRAM) guide, UK Office of Government Commerce Management of Risk (M_o_R) guideline, and the authors Chapman and Ward proposed Shape, Harness, and Manage Project Uncertainty (SHAMPU) project risk management processes.