Risk Management Impact Assessment on the Success of Strategic Investment Projects: Benchmarking Among Different Sector Companies

Abstract

The paper explores the impact of the main elements of the strategic investment projects management process in South East Europe (SEE), on achieving project objectives. The impact of different projects elements on the project’s risk management process was also addressed. The initial hypotheses are based on literature review in the field. The proposed hypotheses were tested by the SEM (Structural Equation Modeling) methodology on a sample of 311 strategic investment projects in Serbia, Bosnia and Herzegovina as well as Macedonia. The strategic projects were analyzed in companies across various business sectors thus the obtained results represent a benchmark of risk factors’ significance according to the project team members and managers. The benchmarking of risk factors significance was conducted by using the PROMETHEE – GAIA methodology. The results verify the adequacy of the hypothetical framework.