The application of SWOT model to compile appropriate strategies for projects risk management in: Fooladtechnic International Company
Science Journal of Business and Management
Volume 3, Issue 1-2, February 2015, Pages: 26-34
Received: Sep. 11, 2014; Accepted: Jan. 19, 2015; Published: Aug. 27, 2015
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Authors
Azadeh Eshaghi, Master of Industrial Engineering, Najaf-Abad Branch Islamic Azad University, Esfahan, Esfahan, Iran
Safoura Mousavi, Master of Industrial Engineering, Arak Branch Islamic Azad University, Esfahan, Esfahan, Iran
Amir Eshaghi, Master of Industrial Engineering, Najaf-Abad Branch Islamic Azad University, Esfahan, Esfahan, Iran
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Abstract
In the present modern world almost all the industrial and developmental activities are defined in the framework of large and small projects and executed by relative organizations. These projects, due to their unique and complex nature, as well as instability and constant changes in underlying conditions, are inevitably confronted with some challenges and opportunities. These challenges and opportunities, so called Risks, should be managed in order to achieve successfully project purposes. Therefore, the effective execution of risk management in various organizations requires selecting the appropriate risk strategy for the project during the life cycle of the project management. Because the absence of an appropriate strategy in this case results in project failure to achieve predetermined purposes. The aim of doing the present study is to utilize the SWOT model for compiling the appropriate project risk strategy such that by the definition of related strategies to 17 different areas of the project management, in accordance to the cpm3 model, be able to recognize the strength, weakness, opportunity and threat related to each of these functional fields. Furthermore, in order to highlight the usefulness of the model for project’s managers and experts we implement the model to the Arfa Steel project of Fooladtechnic International Company.
Keywords
Strategic Management, SWOT Model, Risk Management
To cite this article
Azadeh Eshaghi, Safoura Mousavi, Amir Eshaghi, The application of SWOT model to compile appropriate strategies for projects risk management in: Fooladtechnic International Company, Science Journal of Business and Management. Special Issue: Business Analytics and Management. Vol. 3, No. 1-2, 2015, pp. 26-34. doi: 10.11648/j.sjbm.s.2015030102.13
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