A complex project may have a very long and multiple phased life-cycle, a large number of stakeholders within a complex organizational plan, a complex resource management, technical complexities, contractual complexities and macro-environmental factors. On the other hand, complex projects signify a strategic importance for the project stakeholders in terms of their business strategy, brand image, financial and economic opportunities. Managing a complex and strategic project requires, in its life-cycle, a specific organization and a specific approach in order to reach the project objectives in terms of cost, time and project performance. The complexity of a project leads to the existence of interdependent risks, hard to anticipate and keep under control. For complex and strategic projects, it is necessary to identify and assess all the potential risks and opportunities through the whole project life-cycle, and develop action plans to mitigate, eliminate or transfer negative risks.
Learning Objectives
A complex project may have a very long and multiple phased life-cycle, a large number of stakeholders within a complex organizational plan, a complex resource management, technical complexities, contractual complexities and macro-environmental factors. On the other hand, complex projects signify a strategic importance for the project stakeholders in terms of their business strategy, brand image, financial and economic opportunities. Managing a complex and strategic project requires, in its life-cycle, a specific organization and a specific approach in order to reach the project objectives in terms of cost, time and project performance. The complexity of a project leads to the existence of interdependent risks, hard to anticipate and keep under control. For complex and strategic projects, it is necessary to identify and assess all the potential risks and opportunities through the whole project life-cycle, and develop action plans to mitigate, eliminate or transfer negative risks.
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