A decision-making tool to maximize chances of meeting project commitments

Based on the principles of a synchronized process between risk management and project management, we propose a decision‐making tool to help the project manager choose the best risk treatment strategy. As a finding, the project manager is also able to indicate to the sales department if the financial and deadline conditions are sufficiently profitable with regard to the risks. The methodology developed, called ProRisk, uses the concepts of risk scenario, treatment scenario and project scenario to determine the consequences of possible risks combined or not with preventive and/or corrective treatment actions. The project management team has to respect contractual commitments, in terms of deadlines and budgets, that are often two antagonistic functions. Then, during the invitation to tender phase or when faced with a risk situation, it has to determine its risk management strategy.