Bibliometric analysis and comparison of current risk management methodologies in accordance with project management principles

Abstract

The study takes a look into methodologies offering a holistic approach to risk management, assessing their level of alignment with project management principles, and pinpointing gaps in terms of managerial risk. The scope of the research covers project management, project management principles, risk management methodologies, and comparative processes, providing the study with sufficient background to identify gaps, priorities, focus areas, and research needs. In consequence, the analysis was able to identify that, in average, risk management methodologies integrate about half (i.e. 58.3%) of the concepts defined by project management principles. However, complex and interconnected risks tend to be left aside, including the ones associated to the human factor and business interrelations. Furthermore, risks associated to change, adaptability, and the managerial capabilities of the workforce still require further research and development. In the overall, risk management methodologies tend to consider project management principles throughout their content. However, further alignment is required.