Managing project risks: a case study from the utilities sector

Abstract We examine the project risk management practices in a British utility, which manages its information systems and business change projects using the Prince2™ method. This method has greatly increased the success rate of projects run within the company, but has little in the way of directing Project Managers in handling project risk. We review current project risk management literature. We then explore the current usage of risk management in the utility's projects, and determine the effect of risk management on project success. We conclude by outlining recommendations for improving projects run in the utility and elsewhere.