Dynamic analysis of project risk

This paper first proposes an approach to risk dynamics analysis during the project's early phase in order to improve the identification and implementation of suitable response actions. Secondly, an approach is proposed to monitor and control the global project risk during the entire project life‐cycle by defining a project risk baseline. Both approaches have been applied to a very ambitious project with a considerable economic and political impact. The project, concerning a new trade fair, was characterised by particular features: the size and complexity of the project management, the political support necessary for its realisation, the selection procedure to assign the contract based on the general contractor formula and the limited time available to complete the work.