Risk management of projects in the Czech Republic

Abstract

In business practice, projects are accompanied by a wide range of risks. It is necessary to continuously identify and assess the risks of projects. The aim of the paper is to deal with the issue of Risk Management of projects in various enterprises in the Czech Republic. The paper is divided into three main parts. The first part – Introduction is focused on defining the process of Project Management, Role of Project Manager, explains the process of Risk Management of projects and describes the methods, which will be applied subsequently. The second practical part includes analysis of project risks. In the third part, after identifying the most important risks in selected projects, there is a proposal to set up measures for their reduction or complete elimination. The research was carried out in enterprises located on the territory of the Czech Republic. Data collection took place between November 2014 and January 2015 using a questionnaire survey. The article concludes with proposed recommendations in Risk Management area according to the practical experience of project management methods application respecting the specifics of the Czech Republic. © 2016, Czestochowa University of Technology. All rights reserved.