Project Robustness

Abstract

Recognizing the need for defining and measuring project robustness, the purpose of this article is threefold. First, it attempts to rigorously define the term 'project robustness' based on the key characteristics of a robust project. Second, this paper aims to propose a measure of project robustness that aligns with the new definition. Third, using empirical evidence, this article illustrates how the new measure of robustness can make a difference to decision making in the project appraisal and execution phases. The results of this research highlight that robustness is more than a key property of resilience; rather, it is a multidimensional construct that includes a set of four necessary characteristics (i.e., resistance, stability, recoverability, and goal attainment) deemed vital to tackle disruptions. The results also demonstrate that how a combination of these characteristics can be integrated into decision making in the project management context. This article contributes to the research on decision making by mitigating optimism bias in projects, and transitioning from heuristic to analytic decision making. It achieves this by leveraging the relevant quantitative evidence regarding the disruption and recovery profile of a highly comparable project, thereby avoiding flawed judgments. Show more