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Implementing the Successive Principle: Norwegian Experience
... Additionally, no attention has been directed towards risk management in the bidding context. According to Klakegg (1997), risk management has to be integrated with project management principles and tools, to make the most out of the risk management elements. This implies integration of theory (methodology) and practice (methods and tools). ...
... Is the use of simulation as a planning tool correlated to project performance and success? Klakegg (1997) states that the use of tools supporting either the Successive principle (see chapter 3.5) or Monte Carlo simulation has been most usual and most successful in the Scandinavian countries. The Monte Carlo simulation technique has the most elegant, and the biggest number of tools to choose from. ...
... The Monte Carlo simulation technique has the most elegant, and the biggest number of tools to choose from. (Klakegg, 1997) Raz & Michael (2001) have conducted a survey among a sample of project managers in Israel during 1998 to find which project risk management tools that are more likely to be used in those organizations that report better project management performance. Simulation was ranked highest of all tools in regards to contribution to the project risk management process. ...
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