Exploring the Understanding and Acceptance of Systemic Risk Assessment by Project Risk Managers through Computer-aided Analysis and Visualisation

Abstract

This research explores the significance of the interconnectivity between risks and aims to propose techniques that can assist project managers in effectively evaluating systemic risks in three-dimension. To this end, this research understands the current techniques, the culture and the project managers?? mindset in assessing the systemic risks through two interviews. The reluctance to accept new methods and the immaturity in understanding and performing a systemic risk assessment are identified as key challenges to an effective risk assessment. Furthermore, with computer-aided analysis and three-dimensional visualisation of risks as networks, this research identifies other factors influencing decision-making. As a primary contributor to theory, this research combines the literature reviewed and primary data collection findings and proposes techniques that can assist project managers in effectively and holistically managing systemic risks. Additionally, as a contribution to practice, it develops a fully functional, user-friendly and simple application by implementing a few of the proposed techniques to assist risk managers in systemic risk assessment, extending the prototype developed at Pawsey Supercomputing Research Centre in collaboration with Curtin University.