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The application of SWOT model to compile appropriate strategies for projects risk management in: Fooladtechnic International Company

Received: 11 September 2014     Accepted: 19 January 2015     Published: 27 August 2015
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Abstract

In the present modern world almost all the industrial and developmental activities are defined in the framework of large and small projects and executed by relative organizations. These projects, due to their unique and complex nature, as well as instability and constant changes in underlying conditions, are inevitably confronted with some challenges and opportunities. These challenges and opportunities, so called Risks, should be managed in order to achieve successfully project purposes. Therefore, the effective execution of risk management in various organizations requires selecting the appropriate risk strategy for the project during the life cycle of the project management. Because the absence of an appropriate strategy in this case results in project failure to achieve predetermined purposes. The aim of doing the present study is to utilize the SWOT model for compiling the appropriate project risk strategy such that by the definition of related strategies to 17 different areas of the project management, in accordance to the cpm3 model, be able to recognize the strength, weakness, opportunity and threat related to each of these functional fields. Furthermore, in order to highlight the usefulness of the model for project’s managers and experts we implement the model to the Arfa Steel project of Fooladtechnic International Company.

Published in Science Journal of Business and Management (Volume 3, Issue 1-2)

This article belongs to the Special Issue Business Analytics and Management

DOI 10.11648/j.sjbm.s.2015030102.13
Page(s) 26-34
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2015. Published by Science Publishing Group

Keywords

Strategic Management, SWOT Model, Risk Management

References
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[6] EFQM(European Foundation for Quality Management).
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[8] Ghafarian,V.and Emadzadeh,M.(2006). Meanings emerging at The concept of strategy.2nd.organization of industrial management.
[9] Haacke, L (2001). Using swot for Project Planning Sessions, PN.3 Hughes. ATourism as sustainable Industry in the Rural Community of Arising.( MSc Thesis). Napier University, West Scotland
[10] Kheng-Hor, K. and N. Munro-Smith (1999). Reader-Friendly Strategic Management: A delightful blend of academic learning and Street-smart practices. Selangor Darul Ehsan: Pelanduk Publications.
[11] Lerner, A. L. (1999). A Strategic Planning Primer for Higher Education.Northridge,viewed8July2006.
[12] Lee,S.F.Bulding balanced scorecard with SWOT analaysis,and implementing “Sun TZU,S The art of businesss Management Strategies” on QFD methology.
[13] Mosallaii,M(2006).”strategic planning Approach towards organization excellence”. management journal.NO.39.
[14] Nilsson,M.(2004).Research and advice on strategic environmental assessment Stockholm Environment in Stitute Publications.
[15] Noori,J,Abbaspour,M.,Maghsoudlookamaili,B.(2006). “strategic environmental assessment IN Iran's industrial development policy by using of swot model”. Journal of Environmental Sciences and Technology.ISSN 1563-4809.
[16] Project Management Institute Standard Committee, A guide to the Project Management Body of Knowledge , fourth edition,2008
[17] Piyers,J. and Robinson,R.(2009).Planning and Strategic Management,(translator,Khalilishorini,S).5TH.Yadvare book .pp 307-309.
[18] Robinson, R. (2003). How to conduct a SWOT analysis, ABARIS Consulting Inc., viewed 8 July 2006. .
[19] Schraeder, M.(2002). A simplified approach to strategic planning: Practical considerations and an illustrated example. Business Process Management, 8(1).pp 8-18.
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  • APA Style

    Azadeh Eshaghi, Safoura Mousavi, Amir Eshaghi. (2015). The application of SWOT model to compile appropriate strategies for projects risk management in: Fooladtechnic International Company. Science Journal of Business and Management, 3(1-2), 26-34. https://doi.org/10.11648/j.sjbm.s.2015030102.13

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    ACS Style

    Azadeh Eshaghi; Safoura Mousavi; Amir Eshaghi. The application of SWOT model to compile appropriate strategies for projects risk management in: Fooladtechnic International Company. Sci. J. Bus. Manag. 2015, 3(1-2), 26-34. doi: 10.11648/j.sjbm.s.2015030102.13

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    AMA Style

    Azadeh Eshaghi, Safoura Mousavi, Amir Eshaghi. The application of SWOT model to compile appropriate strategies for projects risk management in: Fooladtechnic International Company. Sci J Bus Manag. 2015;3(1-2):26-34. doi: 10.11648/j.sjbm.s.2015030102.13

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  • @article{10.11648/j.sjbm.s.2015030102.13,
      author = {Azadeh Eshaghi and Safoura Mousavi and Amir Eshaghi},
      title = {The application of SWOT model to compile appropriate strategies for projects risk management in: Fooladtechnic International Company},
      journal = {Science Journal of Business and Management},
      volume = {3},
      number = {1-2},
      pages = {26-34},
      doi = {10.11648/j.sjbm.s.2015030102.13},
      url = {https://doi.org/10.11648/j.sjbm.s.2015030102.13},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.sjbm.s.2015030102.13},
      abstract = {In the present modern world almost all the industrial and developmental activities are defined in the framework of large and small projects and executed by relative organizations. These projects, due to their unique and complex nature, as well as instability and constant changes in underlying conditions, are inevitably confronted with some challenges and opportunities. These challenges and opportunities, so called Risks, should be managed in order to achieve successfully project purposes. Therefore, the effective execution of risk management in various organizations requires selecting the appropriate risk strategy for the project during the life cycle of the project management. Because the absence of an appropriate strategy in this case results in project failure to achieve predetermined purposes. The aim of doing the present study is to utilize the SWOT model for compiling the appropriate project risk strategy such that by the definition of related strategies to 17 different areas of the project management, in accordance to the cpm3 model, be able to recognize the strength, weakness, opportunity and threat related to each of these functional fields. Furthermore, in order to highlight the usefulness of the model for project’s managers and experts we implement the model to the Arfa Steel project of Fooladtechnic International Company.},
     year = {2015}
    }
    

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    AU  - Azadeh Eshaghi
    AU  - Safoura Mousavi
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    PB  - Science Publishing Group
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    AB  - In the present modern world almost all the industrial and developmental activities are defined in the framework of large and small projects and executed by relative organizations. These projects, due to their unique and complex nature, as well as instability and constant changes in underlying conditions, are inevitably confronted with some challenges and opportunities. These challenges and opportunities, so called Risks, should be managed in order to achieve successfully project purposes. Therefore, the effective execution of risk management in various organizations requires selecting the appropriate risk strategy for the project during the life cycle of the project management. Because the absence of an appropriate strategy in this case results in project failure to achieve predetermined purposes. The aim of doing the present study is to utilize the SWOT model for compiling the appropriate project risk strategy such that by the definition of related strategies to 17 different areas of the project management, in accordance to the cpm3 model, be able to recognize the strength, weakness, opportunity and threat related to each of these functional fields. Furthermore, in order to highlight the usefulness of the model for project’s managers and experts we implement the model to the Arfa Steel project of Fooladtechnic International Company.
    VL  - 3
    IS  - 1-2
    ER  - 

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Author Information
  • Master of Industrial Engineering, Najaf-Abad Branch Islamic Azad University, Esfahan, Esfahan, Iran

  • Master of Industrial Engineering, Arak Branch Islamic Azad University, Esfahan, Esfahan, Iran

  • Master of Industrial Engineering, Najaf-Abad Branch Islamic Azad University, Esfahan, Esfahan, Iran

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