Project risk management practice: The case of a South African utility company

This paper documents the risk management practice of a utility company for its Recovery Plan project to address the risks of power interruptions due to a shortfall of supply and increasing electricity demand. The company's corporate risk management process and its practice at divisional and project levels are discussed. The key role of stakeholders in risk identification, analysis, mitigation, monitoring and reporting is emphasised by the company and this drives its risk management practice. Despite the level of resources available within the company to use more sophisticated risk management tools, the company adopts simple risk management methods suggesting that a large size company does not necessarily use 'state of the art' risk management techniques. Recommendations for improved practice are made. © 2007 Elsevier Ltd and IPMA.