The Integration of Risk Management into Maintenance Project Approaches for SMEs

In today‟s dynamic commercial environments, project management approaches are becoming ever more crucial in supporting industrial organizations to achieve their client and enterprise goals. An often undervalued area of this important practice may be seen as the deployment of effective risk management solutions to aid managers make effective decisions. Neglecting risk management is often cited as a primary factor, which may lead to assumed failure within maintenance projects. The purpose of this research paper as arisen from one of the most important areas in project management, both from researcher and practitioner perspectives; „How to avoid failure and achieve higher rates of project success?‟. The outcome of this work is to demonstrate, through a pilot study within a manufacturing SME, how the adoption of project management tools and specific risk management solutions can be important tools for enabling managers to achieve higher levels of maintenance success.