Approaches to risk management in international projects: A comparative case study

Abstract

This paper seeks to examine how and whether approaches to risk management in international projects within one company vary. More specifically, this paper compares and contrasts approaches to risk management in Multiconsult’s Mt. Coffee hydropower plant project in Liberia and Jurong Rock Caverns subsea oil storage project in Singapore. Through qualitative conversational interviews with key personnel involved in the two projects, this paper examines differences and similarities in contexts and risk profiles, risk management practices, and cultural and risk perspectives. We find that, despite the differences in contexts, risk profiles and project specifics, there were insignificant variations in approaches to risk management in Multiconsult’s Mt. Coffee and Jurong Rock Caverns projects.