ABSTRACT
Contextual factors can either facilitate or impede the implementation of Project Risk Governance (PRG) and organisations therefore desire to maximise the former and minimise the latter. They are recognised as professional associations that mentor project management practice, the principles of risk management standards, factors that determine project success, human resources management for projects, and change management. The practice of project management first attracted wider attention in the late 1960s when project managers met informally at conferences and seminars to exchange information on topics of mutual interest. Conditions of practice, contained in a code of conduct and enforced by a licensing body, imposed on their members are far more stringent than those of current project management associations. The development of project management Bodies of Knowledge (BOKs) is giving credibility for project management associations to act as emerging professional bodies. A common culture towards risk management develops within the organisation and greater certainty is obtained that risk is measured and managed consistently.
