Abstract
M.Ing. (Engineering Management)
Many companies measure their performance on how well they manage projects. In some cases
using only project management methods will not be able to deliver a successful project when
unexpected incidents and various uncertainties are present within a project. The aim of project
managers is to ensure a smooth and methodical process is followed to achieve the expected
outcome in terms of on time schedule delivery, quality and repeatability. Yet uncertainty is
intrinsic in every aspect of the project. The ability to identify and react to the effects of
uncertainty will significantly impact the final outcome of the project.
The objective of this dissertation is to identify processes that can be improved to manage risks as
well as creating a mindset of how successful the company can become by improving the current
process of managing risks, by introducing proven concepts and the ability to realise and
overcome these risks. Specific research questions were posed and during the implementation
phase, the answers of these questions were given.
Finally the management of opportunities will be looked at, and how these can be improved, as
well as being competitive when bidding for jobs and establishing a costing method that has
minimal risk when costing for new work.